Bring your karma
Join the waitlist today
HUMBLECAT.ORG

/r/Technology

Last sync: 1y ago
286
Former Celsius CEO arrested, company agrees to pay $4.7 billion settlement (nbcnews.com)
submitted 22h ago by friskythafool
geraltseinfeld 352 points 20h ago
Fahrenheit CEO was also arrested, the company agreed to pay $8.46 billion.
Emu_milking_god 31 points 18h ago
If I had an award, you would've earned it.
notseanlinton 9 points 18h ago
I just got a message that they are coming after me 1,000 Reddit doubloons soons so you get a snek 🐍
pittluke 8 points 18h ago
My car gets 40 rods to the hogshead, and that's the way I likes it!”
ApricatingInAccismus 8 points 17h ago
Did they arrest our old friend Kelvin?
Genlsis 13 points 16h ago
He's totally fucked. He owes $277.85 Billion.
antiponeo 7 points 8h ago
Not totally, absolutely.
Randyx007 1 points 3h ago
How does it work if zero is just shifted but the same scale is used lol?
3eeve 2 points 16h ago
Ok that’s really good.
mrhoopers 2 points 13h ago
Choke on that gold my friend. You've earned it, but at what cost? WHAT COST?
naunga 0 points 12h ago
Jesus titty f’ing christ! You are a god among men my good redditor.

Bra-fucking-vo!
Chef-Andy-B 1 points 10h ago
I was mad. Then I was happy. Then I did the math and laughed.
TDYDave2 1 points 10h ago
Sure it wasn't, $8,460,000,032?
SparkStormrider 1 points 1h ago
Take my upvote and GTFO!
Sexy_Quazar 57 points 18h ago
Damn, I was nervous about my energy drink of choice until I read the article.

Fuck that grifter!
notseanlinton 10 points 17h ago
Here I was patting myself for never buying a can of it yet, until I read the article
acidwxlf 6 points 17h ago
They were in the news for having to pay Flo Rida like 80 million for a contract renege lol
Comet_Empire 22 points 19h ago
I wish I had over 4 billion dollars when I was bankrupt.
cyanydeez 64 points 21h ago
agrees to what now?

How is this legal? I mean, in what world does a CEO get to create a fraudulent corporation, get taken down, and then have the "company" agree to pay something.

The company is worthless. This should pierce the corporate veil into criminal territory.
milehighideas 30 points 21h ago
Did you read the article? They are going to jail
cyanydeez -17 points 21h ago
ok, how does the company exist though? these people weren't separate from the company.
milehighideas 19 points 21h ago
Basically the same scenario as ftx. It still exists until everything is criminally finished and debts paid
cyanydeez -13 points 21h ago
yo, this is a _Existential_ problem. These companies were setup as _frauds_. They have _no real profits_. Nothing they're going to do is ever going to bring back this money.

I think you just seem to accept the "capitalist" principal that corporations are people. They're not. There's nothing here, zilch, zero, nada.

This fine is meaningless. The company is meaningless. Treating this make believe company like it can perform restitution is an insult to every victim of this fraud.
underwatr_cheestrain 3 points 21h ago
We need a corporate death penalty
Randyx007 1 points 3h ago
Yeah, probably for 4 years or less...
WillyCSchneider 5 points 8h ago
>This should pierce the corporate veil into criminal territory.

“CEO arrested” *is* pretty vague, sure, but c’mon!
cyanydeez 1 points 4h ago
sorry, I'm _still_ talking about the fine. This is like fining a dead person for doing an armed robbery.
Create_Your_User 37 points 21h ago
“dEceNtRaLiZeD aNd dErEgULaTeD”
baerbelleksa 2 points 12h ago
it really weirds me out that most people don't understand that these massive failures were all centralized
TraceOfBlood 2 points 11h ago
that’s because cryptocurrencies cannot be decentralized. we created an ecosystem that thrives on strings of numbers changing hands and duped people into thinking it let them control their financial destinies when in reality it’s little more than money laundering with the silicon valley equivalent of trading cards.
baerbelleksa 1 points 10h ago
this is misinformation, very much in line with the point i'm making above. the good quality projects are decentralized
TraceOfBlood 4 points 10h ago
and they recentralized themselves of their own accord nearly immediately. BTC as an example: currently, to earn bitcoin, you need to already have either a decent chunk of change *or* a good/service that people are willing to pay bitcoin for. and that latter case is reserved almost exclusively for CSGO skins and drug dealers. it’s a far cry from the early days where people would have .txt files on their desktops with the hashes for 20 coins because now more are getting minted and the value keeps artificially going up and it keeps getting harder to mint new hashes and now it takes exponentially more energy et cetera et cetera ad infinitum.

bitcoin is no more decentralized than casino chips are. frankly, NO currency other than a plain quid-pro-quo barter system is a decentralized currency.
skolioban 1 points 4h ago
>the good quality projects are decentralized

Such as?
Neijo 2 points 17h ago
It wasn't decentralized.
n3w4cc01_1nt 5 points 19h ago
all these guys are doing this then offshoring their accounts so they don't pay into public

programs which keeps the education system underfunded which causes more issues their

friend groups profit from. now all that is failing and they don't know who to blame.
mooman97 4 points 18h ago
Damn! Been following this schmuck on Coffeezilla for over a year probably. Good to see Justice being served
Educational-Coast771 4 points 15h ago
Looking at his picture I thought they were talking about Dunder-Mifflin
Code_Monkey_Lord 0 points 16h ago
So now we have to use Fahrenheit?
typesett -7 points 21h ago
i am only saying this because i think it's funny

bitcoin still fairly resilient

if you bought last Dec during the severe drop, you would have doubled lol

anyway, carry on pyramid schemers
HelpMeLoseMyFat -3 points 19h ago
What happened?
zdietrich1437 1 points 13h ago
Y’all aight getting sh!te, lawyers getting 70%. Rest is g g gone…
This nonprofit website is run by volunteers.
Please contribute if you can. Thank you!
Our mission is to provide everyone with access to large-
scale community websites for the good of humanity.
Without ads, without tracking, without greed.
©2023 HumbleCat Inc   •   HumbleCat is a 501(c)3 nonprofit based in Michigan, USA.