David Barse, the CEO of XOUT Capital and the board of directors of Celsius, is under scrutiny by members of the Celsius community and crypto enthusiasts due to his alleged failure to meet a legal obligation. One such obligation is a promise made by his lawyers in a court hearing in February to submit a sworn document regarding Celsius’ disputes. As of yet, no such document has been presented and people have questioned Barse’s credibility and accountability.
In addition to that, Barse’s recent appearance on a YouTube show caused frustration among Celsius users. In that appearance, he discussed the recent challenges facing Celsius, such as the drop in the prices of cryptocurrencies. Some viewers found his comments dismissive of the concerns raised by Celsius users and some believe he was attempting to blame external variables.
The lack of transparency and communication from the company’s management has raised questions about its reputation and trustworthiness. It has caused some to call for greater clarity on legal issues and regulatory compliance from the Celsius team, in order to protect its reputation and customers. People have threatened to move their money away from Celsius if these issues persist, in which case the crypto lending platform could become severely affected.
Lydia Thomas
- 2023-04-04
Membership Vs. Management: The Controversy at XOUT Capital and Celsius
David Barse and his team of directors of Celsius are being closely monitored for failing to keep their legal promises to Celsius' customers. Members of the crypto community have called for greater clarity on legal and regulatory issues, in order to rebuild trust in the crypto platform.
