Wall Street’s Sharks Are Selling These Altcoins!

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Alex Mashinsky, CEO of crypto lending and staking platform Celsius, said that opportunistic short-sellers on Wall Street are “definitely” responsible for the negative price action in the altcoin market.

‘Wall Street sharks’ cause of altcoin collapse, says Alex Mashinsky

Mashinsky attributes the recent Celsius (CEL), Tether (USDT) and Terra (LUNA) crash to Wall Street shorts. At a Twitter event on Tuesday, some Celsius users claimed that the platform liquidated their assets as the CEL fell. They said the trade was illiquid as the price dropped, worsening their losses, and Celsius should support the currency.

Mashinsky says that CEL was affected by the wider crypto crash due to Terra’s collapse, and he believes someone is targeting the company. Making statements after the Twitter event, Mashinsky also claims that there is deliberate pressure from Wall Street to profit by exacerbating crypto’s problems:

THEY DOWNLOADED LUNA. THEY HAVE TRIED TETHER, MAKER AND MANY OTHER COMPANIES. WE ARE NOT ONLY (CELSIUS). I DON’T THINK THEY HAVE A SPECIFIC HATE OR FOCUS ON CELSIUS. THEY ARE ALL LOOKING FOR ANY WEAKNESS THAT WILL TAKE SHORT POSITION AND DESTROY. THE ISSUE IS THAT WALL STREET SHARKS NOW ARE SWIMMING IN CRYPTO WATER.

CEL investors express their disappointment to Mashinsky

When Mashinsky was asked if he meant the regulators or the funds that were said to have attacked Terra, he said, “It has nothing to do with regulation. Only shorts are looking for weakness,” he says. In this regard, CEL price has been in a steady downward trend throughout the year, from its current price of $0.77 on Jan. 1 at $4.38. Some CEL investors expressed their disappointment with CEL’s price performance to Mashinsky at the AMA event on May 19. One investor accused the Celsius team of sitting down as the CEL price fell as a result of the Terra debacle.

At the AMA, Mashinsky reassured community members that Celsius “always works in the community’s interest” but does not “control the price action” on the CEL token.

THE CRIMINAL HERE HAS NOTHING TO DO WITH CELSIUS. HE HAS EVERYTHING ABOUT PEOPLE COLLECTING AND PUBLISHING SAD INFORMATION. SO IF YOU WANT TO BRING A FIGHT, GO FIGHT WITH THOSE PEOPLE AND ASK THEM ‘WHY POST THIS ARTICLE?’

Finally, Mashinsky adds that the purges on the Celsius platform over the past two weeks have caused injuries to people. But he states that he has personally lost more than anyone else.