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Celsius and the chapter 11 bankruptcy

Writer's picture: Adam C SmithAdam C Smith

Do you want to learn about crypto from an actual financial advisor? Now I may not tell you everything you want to hear, but I might have some valuable insight to help you make smarter decisions in the future. Let's talk about Celsius and the chapter 11 bankruptcy. When I sit down to make financial plans, people usually come in as a balanced investors (average 6-8%) or become aggressive investors (average 8-10%). When I saw stablecoin coming out with 9% return, it got my interest, but I was a little cautious; here is a stitch of me making a video about somebody saying that they're going to retire off their stablecoin income. She said to take that 500 000 into safe, stablecoins and earn 10% per year. I then said, "careful regulation is coming to crypto, and one of the first things that are going to be regulated is the stablecoins." Now I thought regulation was going to hurt the stablecoin industry, but if you think about it, if we had regulation in place, would we be in this situation right now? With all of these exchanges ending up bankrupt, we would be more protected if we had regulations in place.

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