Celsius Network CEO accuses ‘Wall Street sharks’ of dragging down the crypto market

Bearish traders from Wall Street triggered a 90% drop in Celsius (CEL)’s price, a decoupling of Tether (USDT) from the US dollar, and the Terra (LUNA) collapse, Mashinsky said.

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The top executive compared Wall Street’s actions to ‘sharks that smell blood in the water’.

This was his reaction to platform users’ comments who faced liquidations of assets tied up as collateral due to CEL’s price drop. They lamented that Celsius Network did not support its native token.

Mashinsky attributed the price decline to the Terra collapse and expressed confidence that a short-sellers’ attack had been organized.

“This is not a coincidence. Someone decided to bring Celsius down,” he said.

In an interview with Cointelegraph, the platform’s CEO said that crypto market problems were caused by the appearance of ‘Wall Street sharks in his waters’.

During an AMA session, Mashinsky explained that Celsius Network is not a market maker in the CEL market. He also linked the negative dynamics to a Barron’s piece about the platform’s problems due to the crypto market downturn.

“The culprit here is not Celsius. It has to do directly with financing and the publication of nonsense. If you want to fight, go after the people who published this article”, he advised.

Mashinsky admitted that in the last two weeks he had lost \”more than all the platform’s clients combined\”.

Earlier, in April, the CEO of Celsius Network forecast Bitcoin to rise above $100,000 in 2022.

Earlier, Celsius Mining filed for an IPO.

Prior to that, Celsius Network raised $400 million at a $3 billion valuation after regulator concerns. Allegations of selling unregistered securities were leveled by authorities in Texas, New Jersey, Alabama and Kentucky.

According to the media, amid the collapse of the algorithmic stablecoin UST, the platform managed to withdraw $500 million worth of assets from the Anchor protocol.

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