A Tale of Two Ponzis: Celsius and Luna, Alex Mashinsky and Do Kwon
Play • 28 min

Today Bennett and Cas discuss the best of times and the worst of times for two enormous Ponzi scemes: Celsius - a now bankrupt cryptocurrency lender - and Luna - an algorithmic stablecoin ecosystem once valued at nearly $60 billion, and the two individuals who ultimately led them to their respective downfalls: Alex Mashinsky and Do Kwon.

KeyFi lawsuit against Celsius: https://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=RvF30Mz2IZW63s1mjjau2Q==

Celsius lawsuit against KeyFi: https://assets.law360news.com/1523000/1523691/complaint.pdf

Coverage of the Celsius countersuit: https://protos.com/celsius-lawsuit-claims-keyfi-stole-customer-deposits-to-buy-nfts/

Mashinsky resigns: https://protos.com/chief-exec-alex-mashinsky-resigns-from-celsius-network__trashed/

Celsius Network all-hands: https://youtu.be/40-w9r7WSKM

Bennett's reaction to Coinage interview of Do Kwon: https://youtu.be/vcy_N8Kozf4

What is a red notice?: https://protos.com/what-is-an-interpol-red-notice-and-how-does-it-work/

Cas' article on death fraud: https://medium.com/coinmonks/death-fraud-6920cc93d0a7

This episode was recorded on Tuesday, September 27th, 2022 and edited by Bennett Tomlin.

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