Desperately defending the USD 2 level
Some are desperately trying to defend the USD 2 support.
Despite the weekly burn of tokens, the price vs USD continues to decline. The amount of outstanding tokens simply is way too large vs the amount of tokens burnt even if the company would grow tenfold.
The 6 amigos elected by the company have yet to make an impact - come up with a new service benefiting the token. The new C-levels haven't made any impact yet neither.
During yesterday's AMA they elaborated how difficult and time consuming it is to launch a credit card, spending extensive time on the design. When in fact people are interested in its features. And even Litecoin, with just a handful of volunteers, has a credit card out for more than a year, linking the Litecoin wallet with Visa.
Once the SEC fine or settlement is announced / public, CEL most likely will tank to USD 0.43 or even lower. BlockFi paid USD 100 mln for their non-registered investment account. Celsius had an unregistered investment rewards account AND unregistered security. Realistically the fine shall be much higher and possibly fining the founders as well.
Despite the weekly burn of tokens, the price vs USD continues to decline. The amount of outstanding tokens simply is way too large vs the amount of tokens burnt even if the company would grow tenfold.
The 6 amigos elected by the company have yet to make an impact - come up with a new service benefiting the token. The new C-levels haven't made any impact yet neither.
During yesterday's AMA they elaborated how difficult and time consuming it is to launch a credit card, spending extensive time on the design. When in fact people are interested in its features. And even Litecoin, with just a handful of volunteers, has a credit card out for more than a year, linking the Litecoin wallet with Visa.
Once the SEC fine or settlement is announced / public, CEL most likely will tank to USD 0.43 or even lower. BlockFi paid USD 100 mln for their non-registered investment account. Celsius had an unregistered investment rewards account AND unregistered security. Realistically the fine shall be much higher and possibly fining the founders as well.
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