Lark Davis Escapes Celsius Network Bankruptcy With $2.5M

Celsius Network Breaks Silence in a Recent Blog Post
Source: Coinkolik

Crypto Influencer Lark Davis successfully escaped the Celsius Network Bankruptcy scandal with $2.5 million after being one of the company’s promoters. According to crypto sleuth ZachXBT, Davis withdrew $2.5 million from Celsius long before the company filed.

Davis allegedly began withdrawing funds after he likely received insider information about the company’s pending demise. ZachXBT’s allegations are partly based on a voluminous financial report released by Celsius yesterday as part of its bankruptcy court case. In the report, one can see the names of all Celsius users and their transactions. Even co-founders Alex Mashinsky and Daniel Leon are in the records, withdrawing $12 million and $11 million respectively.

The replies on ZachXBT’s Twitter have a mixture of reactions to the allegations. Some replies are ridiculing Lark Davis and others support him. One user says in the replies, “I follow your work and I think it’s phenomenal… but in this case, I also took my money before the crash and I’m a normal person… rumors were circulating…”

Another user suggests that Lark did a similar thing with ETH “months ago.” When the user called him out for it, they were blocked.

Lark has promoted Celsius in the past, saying he likes the company and praising it to his over 400,000 YouTube subscribers. Allegedly he withdrew millions before June, over a month before Celsius filed for Bankruptcy.

The Celsius Network bankruptcy filing was large in part to May’s crypto crash.

Lark has yet to respond to these allegations.