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Swan Bitcoin Warning #20 (Patreon)

Published:
2024-09-27 16:31:08
Imported:
2026-06
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Content

I've been warning about this for a long time... issues with custodians like Fortress losing BTC, mishandling customer funds, and now this.

BREAKING: Swan is suing former consultants and executives over an alleged scheme to ‘rain hellfire’ and steal its billion-dollar Bitcoin mining business, reportedly in coordination with investor and JV partner Tether.

Swan isn't facing just one issue—there are many cracks showing.

It was obvious that the ETFs would be the final nail in Swan's coffin, but now it seems there are many more.

Remember, it takes a lifetime to make it and a second to lose it. Err on the side of MEGA CAUTION

Big thanks to Beardy for the heads-up.

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Comments

Wicksley Snipes!

When I mentioned FTX, it was just reiterating my gratitude for helpful posts/updates that I can follow up on w my own research. Some have proven very helpful to me. A few took it wrong, so I deleted it. Panic is not something I do. EVER. Neither should anyone.

Wicksley Snipes!

I’ve been in BTC for 4+ years. I’ve never heard of Swan. Flea on Bitcoins back. Like James said: “It’s super teeny”.

3324

The basics never change 4 year cycles September sucks and not your keys not your crypto

Show n Go

Remember this scumbag having a go at James? well, well, well….

Andres Olimpo

Wow, Am I Glad I Stop doing Business with Swam last year or at the beginning of this year, Something Did Not Felt Right a Couple of Times, 🙏God O DID. Close Call.

Manuel Azevedo

I did daily DCA with Swan since December 2022 and just last month at the begining of August I heard about how they laid off a bunch of staff. Immediately took funds off the platform. I still continued over the last month to do a few more "instant buys" but literally last night I took my last bit of BTC off the platform as it finally unlocked. Good luck to these guys but I'm done with them. Plus was never a huge fan of the toxic maximalism from Cory, he's a bit over the top.

onedollaretc

ALL MY BTC, SOL are in COIN. Looks like Armstrong is good man :-)

Living_Like_A_Panda

I remember during the Celsius scam Swan CEO was constantly attacking Celsius in a very aggressive way. Letting people know that Celsius was a scam is definitely positive, but the way he did it made me question his ethics. At the time, I remember having this exact conversation with him and highlighted that as a CEO, he should behave in a more professional manner.

Tim the Enchanter
>>150737493

Exactly this. Unfortunately at the time I found klipstein SO untrustworthy that I concluded that Celsius was probably fine and it was just a coordinated smear campaign led by korey. Costly error that time, but he still sucks.

Theresa
>>150710005

If it ends up like Celsius, watch out for withdrawal preference exposure bc they may try to claw back withdrawals within 90 days of the bankruptcy date. It's sad they can do that to people withdrawing their money.

Society
>>150714934

Get em off- buy a Trezor. It’s never too late, until it is.