Wall Street bears triggered a 90% drop in Celsius (CEL) price, splitting Tether (USDT) from the US dollar and triggering the collapse of Terra (LUNA). This was stated by Alex Mashinsky, founder and CEO of Celsius Network.

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— Alex Mashinsky (@Mashinsky) 18 May 2022

A senior executive compared the actions of Wall Street investors to “sharks that smell blood in the water.”

This is how the platform reacted to the collateralized comments of its users, which was faced with the liquidation of assets due to the drop in the price of CEL. They expressed their regret that Celsius Network does not support the native token.

Mashinsky explained the decline in the asset’s value with the consequences of Terra’s collapse and expressed confidence that the attack was orchestrated by the “shortists”.

“This is no accident. This is someone who decided to “pour” Celsiussaid.

In an interview with Cointelegraph, the CEO of the platform said that the problems of the cryptocurrency market are due to the emergence of “Wall Street sharks in its waters.”

During the AMA session, Mashinsky explained that Celsius Network is not a market maker in the CEL market. He also attributed the negative dynamics to the publication of Barron’s material on the platform’s problems due to the crypto market’s decline.

“Celsius isn’t the culprit here. It has a lot to do with funding and publishing bullshit. If you want to fight, go to the people who wrote this article”He recommended.

Mashinsky admitted that he’s lost “more than all of the platform’s customers combined” in the past two weeks.

Recall that in April, Celsius Network CEO predicted Bitcoin to grow above $100,000 in 2022.

The company has previously filed for an IPO.

Prior to that, Celsius Network had raised $400 million at a valuation of $3 billion following complaints from regulators. State officials in Texas, New Jersey, Alabama and Kentucky accused him of selling unregistered securities.

According to media reports, during the collapse of the UST algorithmic stablecoin, the platform managed to withdraw $500 million worth of assets from the Anchor protocol.