- Reportedly, Davis pulled $2.5 million out of Celsius before the firm filed for bankruptcy.
- Lark has endorsed Celsius before, sharing his appreciation for the brand.
After being one of the marketers for the defunct cryptocurrency firm Celsius Network, crypto influencer Lark Davis managed to walk away with $2.5 million. Crypto analyst ZachXBT claims that Davis pulled $2.5 million out of Celsius before the firm filed for bankruptcy.
Davis reportedly started cashing out his holdings after learning of the company’s impending doom via confidential sources. According to ZachXBT, Celsius’s bankruptcy court filing yesterday included a lengthy financial summary. A complete list of Celsius users and their respective financial dealings may be seen in the resulting report. Alex Mashinsky and Daniel Leon, the company’s co-founders, are also documented as having taken out $12 million and $11 million, respectively.
$2.5 Million Withdrawn in May
The responses to the claims on ZachXBT’s Twitter are varied. There are responses that mock Lark Davis and responses that defend him. Lark has endorsed Celsius before, sharing his appreciation for the brand with more than 400,000 YouTube viewers. Supposedly, he withdrew millions of dollars in the month of May, much over a month before Celsius filed for bankruptcy. The filing for bankruptcy by Celsius Network in May contributed significantly to the market’s decline. To yet, Lark has said nothing in response to these accusations.
Previously, Lark had responded to fresh accusations made by Twitter on-chain investigator ZachXBT that he promotes “low cap projects” to his following “just to dump them shortly after.”
Davis was reacting to a thread started by Zach on Twitter on September 29 in which Zach was accused of making over $1.2 million in undisclosed earnings from the sale of tokens for crypto projects he was paid to promote.
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