Lark Davis Withdraws $2.5M from Celsius After Shilling Company

ZachXBT, an on-chain crypto sleuth, reveals that crypto investor Lark Davis withdrew $2.5 million from Celsius while promoting the platform.

According to ZachXBT, Davis started withdrawing funds long before rumors of problems at Celsius began circulating.

Community hits out at Davis

ZachXBT’s allegations are partly based on a voluminous financial report released by Celsius yesterday as part of its bankruptcy court case. The report contains the names and transactions of every Celsius user, including former Celsius CEO Alex Mashinsky and his wife, who collectively pulled $12 million from the platform in May 2022. Former CSO Daniel Leon allegedly withdrew $11 million.

In response to ZachXBT’s findings, many Twitter users expressed their anger at Davis:

Most of the furor centers around Davis’ alleged promotion of Celsius to his audience, revealed in a YouTube screenshot where he allegedly said of the company, “I like it too,” while he may have had insider inf