Lark Davis escapes Celsius network bankruptcy with $2.5 million

Crypto Influencer Lark Davis Escaped Celsius Network Bankruptcy Scandal with $2.5 Million After Being One of the Firm’s Promoters According to crypto sleuth ZachXBT, Davis withdrew $2.5 million from Celsius long before the company filed its case.

Davis reportedly began withdrawing funds after likely receiving inside information about the company’s impending demise. ZachXBT’s allegations are partly based on a voluminous financial report released yesterday by Celsius as part of its bankruptcy lawsuit. In the report, one can see the names of all Celsius users and their transactions. Even co-founders Alex Mashinsky and Daniel Leon are on the record, pulling $12 million and $11 million, respectively.

The answers on ZachXBT’s Twitter have a mix of reactions to the allegations. Some answers ridicule 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 for this, they were blocked.

Lark has promoted Celsius in the past, saying he loves the business and praising it to its more than 400,000 YouTube subscribers. He reportedly withdrew millions by June, more than a month before Celsius filed for bankruptcy.

Celsius Network’s bankruptcy filing was largely due to the May crypto crash.

Lark has yet to respond to those allegations.

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