[tinco]

So, definitely not in defense of Celsius it smells funny to me as well. But the author doesn't seem to understand DeFi. I don't know how Celsius operates but if there's a genuine zero-knowledge proof of their operations then that is better than an actual audit. The author doesn't understand this and proceeds as if no audit actually happened. If the author instead spent some time researching the contents and the merits of the proof they'd make a better point. If the zK proof is bullshit, that's a far worse indictment than all the other circumstantial evidence in my opinion.

Anyway, I don't have much faith an operation ran by an old con artist and a 24-yr old actress would actually produce a valid zK-proof that covers their operations. That's the sort of thing you need a serious technical team for. So the article still stands in that regard.

[rglullis]

Like he said in TFA: the zk-proof only shows they have control of some funds, it doesn't say anything about the origin of those funds, much less about present and future obligations.

[ceejayoz]

> I don't know how Celsius operates but if there's a genuine zero-knowledge proof of their operations then that is better than an actual audit.

Someone might be able to demonstrate to you that they have a $20k bank balance.

Audits are where you try to do a reasonable job of making sure they aren't also hiding the fact that they've got $50k in credit card debt lying around.