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Oct. 23, 2022

Mike Benzaken: Celsius Bankruptcy & Economic Injustice | Ep #028


Mike Benzaken explains in detail about the Celsius Network's collapse and how his initiative - Citizen Warrior Foundation (CWF) - is waging a war against grave economic injustices happening across the emerging tech space, and helping put checks and balances in place, to minimize meaningless loss for crypto investors.

Resources:
CWF Linktree: https://linktr.ee/citizenwarrior
CWF Website: https://citizenwarrior.foundation
Upload Sensitive Documentation to help Stop the Selloff (Anonymous): https://citizenwarrior.foundation/stop-the-selloff
Transcript and Chapter Markers: https://www.buzzsprout.com/1968123/11550524

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Transcript

Prasant Roy:

Hello and welcome to yet another amazing episode of The MetaRoy Podcast, where every week we give you the simplified version of the hottest topics and the developments in the Web 3.0 space. Make sure to subscribe to this podcast on YouTube, or the podcast platform on which you are listening it on, and leave us a review if you like this show. So today on our podcast, we have Mike Benzaken of Citizen Warrior Foundation with us in the house. Mike, thank you for joining us on this podcast, and it's my absolute pleasure to welcome you here today. How's it going?

Mike Benzaken:

The pleasure is mutual Roy. It's going well. It's a bit chaotic at the moment. I've just moved after seven plus years from a lap of luxury to a, temporary waiting station, as a result of, the Celsius network taking everyone's net worth and or too many people's net worth, which we're fighting on. But aside from that, things are are beautiful. You know, the sun is out, had my workout this morning, and, the mortgage is still, are still there. And, we're gonna, we're gonna keep it that way.

Prasant Roy:

Can you just for our audience, can you give us a brief introduction about who you are and what you do and what your background has been like? Can you share that with our audience?

Mike Benzaken:

Love to. So, my education was in behavioral neuroscience. I want to know what made people tick. I loved the game theory. I loved the idea of commerce. I love the idea of, you know, when do you put your zero or your why now, right? What are indicators, right? That, you're likely to have a successful transaction with another. And then kind of taking out to its extremes, how does that look at like from a systems level, right? How can you automate that algorithmically? How can you program that for the optimal outcome? So yeah. And the interesting thing about blockchain, it's more, it's gonna fundamentally change game theory as as we know. But anyway, these are exciting things. So, my background is I went into, sales. Everyone starts in sales after college. You gotta start in sales, unless you're an engineer, in which case go to the top school or just go straight into development. Don't even go to school. And,

Prasant Roy:

I was an engineer. I started with engineering, computer science, but later moved to marketing. So that's about me.

Mike Benzaken:

From engineering, which is very interesting because now you have both temperaments.

Prasant Roy:

Yeah.

Mike Benzaken:

Right?

Prasant Roy:

Yeah.

Mike Benzaken:

So you have the people.

Prasant Roy:

Exactly.

Mike Benzaken:

And you have the thing. Right.

Prasant Roy:

Exactly.

Mike Benzaken:

Which all teams need that, that harmony. Okay. So, yeah, I became, eventually international business developer for a life science company. Then, became, CEO and then chair of, of the company SMB, couple hundred employees around the world focused on working with the UN, Foreign Ministries of Health, specifically foreign disaster relief. We were very good in, in response, some econ dev as well. During that time, I become very familiar with decision makers at the level of the nation state. And, they had expressed, let's say, worries with me. That's funny cuz you never think that they would, because people always think that they're looking just to extract and waste and so on and so forth and the size of the government. But, no. So US Aid, for example, this is the best kind of segue into what got me to emerging tech. They'd send 1% of US GDP, which is the most, given our GDP, the most generous amount in the world to go out to two areas. Foreign Disaster Relief number one. And number two is economic development. So let's just call it 50 50 split. So as we were serving these contracts and we, we were good at getting goods into areas that other people couldn't, so they sort of depended on. We were, we were fancy like that, right? We were sneaking, we knew how to get around stuff, which was very good for them. Anyway, we had realized that roughly 25 cents and then figure 15 point margin on there and every dollar was being received, so a dollar goes over. But we had figured out that it was roughly 50 cents that was being received after the margin through NGOs to the intended recipients of the goods or the services. And so we go and we're speaking. So I, my friends that who led these programs at the Hill, and I'm like, Yeah, did you realize that? So, I mean, we can help twice the people or we can cut half the taxpayer burden. What's the deal guys? And they're like, It's actually 25 cents, not 35 cents at a dollar. Like, it's even worse. So, yeah. Anyway, long story short, the whole Uighur thing came out cuz we had like 135 factories we'll work with around the Schenzen Area. I wanted to reorient the supply chain. The other shareholders weren't, you know, thrilled about it. So we had a bit of a divorce. I sold my position within the company, learned, traditional, you know, TradFi, learned a bit of trading on my own and like that. Did some mentorship and coaching for executives. So took that capital, deployed it, you know, 3Xed it. So I did pretty well. And then I moved it over into emerging tech. I had some problems with traditional banks along the way. I had a, a friend, someone who was, this was during the Covid Lockdowns who was, meeting with political dynasties, you know, like a family, members of political DA who have a real voice. And they were against, I'm not gonna get into the specifics, but the efficacy of this, the deployment of that, the unilateral governance of this guy and that guy and that guy. And so, lo and behold, what happened was, they received this, this letter from Business Insider saying, Oh, tell us, and this is relevant. How do you feel about your PayPal account getting frozen? He's like, How are you talking about, What are you talking about? So he was crowdsourcing, using PayPal, right. For this decent, it was decentralized documentaries, so it wasn't Interpol, but it was some authoritative bodies shut his down, his PayPal account without cause it never got reinstated, by the way. Then six months later, or six weeks later, my or thereabouts, my PayPal account, and there was no legal or public affiliation between us. Cause we had been working, you know, people weren't valuing dissent when it came to the mainstream message on Covid. You know, they weren't like propping up the set saying, Oh, you are the basket of freedom of speech. More people should listen to you. No, it was sort of the opposite of that. Right? You remember those times. Anyway, so he says, Okay, now my pay, my PayPal account is shut down without cause. Weird. Why? Why would that happen. Then a prime bank in the US say the Prime Bank that runs Manhattan actually, says because of our affiliation with PayPal, who shut you down without Cause we're gonna take the largest credit line you've built throughout your life, despite never missing a bill and just shut it down and yeah, we'll destroy your credit score, we'll limit you your ability to get, be able to get loan disorder and so forth. But, you know, it's, it's, we can do that cause we're a private company, right? Cuz, you know, build, build your own Right? It's a private company, right? Build your own. It's a private company. So yeah. So without, Cause for him shut down. And then how did they figure it out? No idea. Without cause, PayPal, without cause Prime Bank wrecked. So where am I now? I go into Safe Haven assets that are outside of Fiat. I went down the hole. What is money hole? You know that, that hole that we all go to after reading the white paper of Satoshi? So this was two years after I sold my position. So around 19, 2020. call it 2020, call it 2020. Yeah. And, and so, you know, we were starting the, this, this bull market. Everyone was very, was FOMOing in. And it was all very exciting. And then, you know, we saw all these macros come into play and we're like, fra, you know, with the current monetary policy, just the whole, you know, Brentwood system. And then since 71, you know, breaking from the gold standard and that we saw all these central banks that looked like they were gonna default in the repo market and everything. We were like, Oh. Something's gonna happen. And we are definitely in inflation and this guy is not gonna stop print, stop printing money and virtue signaling to the world. So we better hedge somehow. But we don't know what's gonna happen with the equities market. Cause we know that the Fed pumped it up, you know? And now what are they doing? So, right. So we're uncertain, what do we do? We bought StableCoins, algorithmically back Stablecoins, put it in a high interest yielding account that, it was a CeFi lending and custodial company. So the biggest ones incorporating the states - Celsius, Voyager, and you can say BlockFi right outside of, like an IRA of a custodial lending account. Right. And so there was sort of this assumption that they were all doing the right play, like every US citizen. Cause we were limited. We couldn't do NEXO at the time. We couldn't do Vauld at the time. Right. Vauld, by the way, which is chapter 11, Voyager right now is a Chapter 11. Celsius network, which is now trying to claw its way back out of chapter 11, which is playing a role in, and and, and Three Arrows Capital that was, it's a different nature, different kind, but still it was, you know, substantial like all these companies just overnight when there was a, a rapid drawdown. So anyway, that brought me up to taking a non-profit I had, dressing it up under a 501(c)(3), turning it into a private foundation. So you can have people who essentially are long term invested interest in emerging tech because they believe in its ethos, blockchain and decentralization of stuff, Right. But the idea is, is the checks and balances against, you know, institutions who, who hierarchies have become overly stiff and who become relatively corrupt and, without there being an opt out system or. Say a system that provides a parallel checks and balances against the institutions, then meaningless suffering is going to continue, and pick up pace. And if you look at the recent UN numbers, they're claim 450 million and people in the global south, are gonna face like food, short something. It was some, one of these terms is so Orwellian, which meant they were gonna starve to death essentially. Right. I'm like, dude, just say they're gonna starve to death and get over the nonsense guys. Right. Cause I know, I know a couple of these guys come on. And then, but UN's really big too at the same time. So it's like some of them are good and some not so good, but the actual figures are roughly three times that. So unless things change course, this whole energy policy things changes. You know, some of these unilateral NGOs pushed policy in through the European Commission and that pushed its way out west, which pushes way out to the global south and all the economic pressure from the Super Nationals and the Brentwood system on everyone adopting this policy. And now that they're paid against the dollar, so. Yeah, there's a lot of stuff coming up. So we are trying to prepare people for that through a variety of measures. So, I'm sorry that was the longest introduction. I totally should have pause like three times there. But now you know everything, so, you know, There we go.

Prasant Roy:

No, absolutely. It, it gives much more clarity when you know those stories behind the, the person. Right. So, let's start with, what you're doing right now, which is the Citizen Warrior Foundation. My first question is like, why a foundation? What is the purpose of it and what are you trying to achieve? And can you just let us know the story behind how you thought about it? What was the motivation behind creating this foundation? Can you talk about all of these aspects?

Mike Benzaken:

Yeah. Well, the motivation was, okay, so the motivation, I had a non-profit from the year prior, and we were trying to figure out what the best way to deploy it into emerging tech that would, let's say, secure, investors with like a 10 year horizon, 20 year horizon, right? And we just, just didn't find that, that niche, right? We didn't find that, that opportunity. Then, lo lo and behold, you know, there's this huge market draw down in end of November of 21. Huge market drawdown. There was another market drawdown in September. There was a series B that was raised in Celsius network. In between those drawdowns, and then moving into June, there was a restriction of Celsius network deposits. So at that point, because of what had happened during the introduction with TradFi, I had lost, you know, a lot of faith. I didn't wanna go in the equities market, wasn't gonna buy bonds. I mean, like these guys buying bonds, treasuries, it's ridiculous and negative interest rates anyway. Like negative real rates. But, so I was, okay, yeah, that's where about four fifths of my wealth was. And I was like, okay, these bastards just restricted my depo. I understood the restriction move. That was fine because they didn't want to, to go become insolvent, right? They wanted to prevent another bank run. It was a massive outflow. But then we're like, okay, they're gonna move into chapter 11. So they're trying to restructure, right? They're trying to figure out what to do in between the point of restriction and then filing for something and then they, they go into chapter 11 with chapter 11, it protects the shareholders, and it gives them time. It's not like for you the customer, Duh. Okay. It's for the shareholders with the vested interest in the company, you know, facing insolvency to restructure ostensibly to get the company out of chapter 11 and safeguard their investment. Well, that's not necessarily what was happening but that was the point where they took four fifths of my crap when I said you are taking, like, cuz I mean, I know from my side, I work my balls off of that right? My entire life. Like my, I work my balls off my entire life and I saved and I made prudent, you know, decisions. I was never wasteful so on. And so, I mean, the one thing I wasted on was the, the pet house and this thing that, that, that was a waste. Everything else. No waste. Very little waste. Some waste. But very little. Point is there's no more waste. There's no more waste, because it took a lot of crap. So we're like, all right, we're taking it. Citizen Warrior Foundation. What we're gonna do is three things. So we apply it to the IRS waiting for our exemption, 501(c)(3) pending. One is to educate the public on how effed up parts of the crypto sphere is emerging tech is. Where the dangers are and also where the value is, which is important. That's why we have a separate, brother affiliate with our, another entity that essentially talks to the innovators, the real pioneers, the high integrity individuals, the ones who wanna raise all boats, if you will, right? I mean, the people in it for the right reasons. There's so much crap in the space. So one of, of us is educate people on the crap, on the villains, on the literal criminals within the space because it's some, the, the crypto sphere as a small portion of emergent tech has done the worst job of any niche that's begging for mass adoption. Just like the most limp wristed, is all these influencers and this and that. Like they find their niche and then they own their niche to get like a hundred thousand followers and then they do nothing. Right? It's like, do something or shut up. Because honestly, you're just making noise and you're talking about which jpeg you're gonna buy and how that's gonna be worth a zillion dollars. You know, during the next mark around, I'm like, No, your JPEG is nonsense. Your nonsense. Just, just get outta here, right? Have, having been someone who had to deal with a stringent regulatory nature, I know a, the burden of the government, Fiat, it's super costly and it destroys a small business in a small, to medium size business, right? So that's a problem. We are begging to be policed. We are begging for the authoritarian boot on our neck. We are begging for our investments to go to zero because we refuse to say, This guy's doing it right, This guy's doing it wrong. Because here are the standards. Now, it's not a centralized figure. I can't enforce this by fiat, but my goodness, before you make an investment, why don't you say, okay, do they know what quality control is? Do they have ISO in place? What have they done in the past? Did they deliver? Who are their advisors? If it's a doubt, are they completely anonymous? Are they in any way accountable? If the agent to all of that is no, probably don't play the speculative game cuz you're probably gonna get taken, right? And it's all insider stuff on TG and everyone who knows how to watch the numbers a little bit better than an average guy are just screwing them outta their money. And that pisses us off, right? So it's just like Celsius Network screwed everybody. And we should see the principal shareholder allegedly stole a whole bunch of stuff and allegedly engaged in a whole bunch of criminal activity that we're investigating through our crowdsource page, which you can find that stopped to sell off. By the way, at CWF, we want to return back people's crap to them as soon as possible, as much of their crap to them as possible in the form of ETH, Bitcoin and USDC to avoid all the regulatory nonsense and as timely way as possible and reconcile between all the special interest groups who are fighting amongst themselves, cuz no one knows how to get along a and, and like crypto Twitter is like, is, is, is is the modern day virtual hell, for getting things done. So if you wanna get things done, stay away from crypto Twitter and go anywhere else and you're have a better chance of getting it done. Long story short is we're we're gonna try to help broker that out the three exempt purposes, education, community organization, relationship building and research and development into goods and services to mitigate meaningless suffering through supporting emergent technologies. So that's like, you know, the big thing, some examples would be consumer protection protocols. For example, you know, a standardizing association, right? That receives some form of recognition and it's voluntarily adopted. So let's say if it's a CeFi company that, oh my God, is allowed to be incorporated back into the states, like, or just incorporated in the states from scratch. They're putting their financials on and people can, let's say, receive signals if it's over leveraged. If things are moving off chain, that shouldn't, I mean transparency, right? That, that even if it's CeFi in digital assets, that it still lives up to the blockchain ethos. It started all of this, which is decentralization and democratization by the people for the people. That's it. No more of these vultures.

Prasant Roy:

Absolutely. I agree with you. So essentially, if I understood you correctly, Citizen Warrior Foundation is trying to establish those frameworks which could guide or govern those protocols or companies which are kind of doing whatever they want to, if I have to put it in strong words. Which the current government or, you know, which is kind of outside of the purview of the current government or financial systems. They're kind of operating outside of all of those rules and regulations and checks and balances, and you are trying to install those checks and balances, which from what I understood.

Mike Benzaken:

And also reasonable, reasonable checks and balances because if we don't, irreasonable, right? Let's say crippling or prohibitory regulatory fiat right. Is going to be imposed. And what's gonna happen, everyone United States, you know, all the Web 3.0 guys are out gone, right? Every entrepreneur worth the salt and the Web 3.0 space gone. All the VC funding wanted to go, you know, backs, certain projects dried up like that. And it's as if no one gives an ish that that's the obvious outcome of all this. So it's just like, okay, someone's gotta start doing it. So yeah, we're gonna start calling out, the, the, you know, the people who are like misleading people, the people who are being paid to pump coins. The people who were, you know, there's a lot of bad, there's so many bad actors, but this is not to be bearish on the space. Okay. So just as a general, let's say percentage of the pie, roughly five to 10% of the, pie is high integrity. The future or the building blocks of what will become the future of, cryptocurrency or emerging technologies, or, you know, life as we know the substrate, we won't it be so baked into the pie. We won't even under, you know, really recognize it, but it will lift all boats. It'll mitigate meaningless suffering. The rest of it is so much crap that people bother themselves with the ways that it is. Like, just watch sitcoms all day and then give me your money instead. I'll at least put it to good use as opposed to you losing it. And you will have ended up with less heartache because at least you enjoyed the sitcom. Right. So we don't put up with crap. True, true, true. Yes.

Prasant Roy:

Absolutely. But, you said your motivation was to create the citizen foundation was to kind of was inspired or kind of forced by Celsius network networks collapse right. For people who don't know what Celsius Networks collapse is, I'll just give a, like a brief, like a 30 second version of that. So essentially it was a a cryptocurrency lending company that you could basically deposit your crypto assets, Ethereum Bitcoin, whatever, into a Celsius wallet to earn a percentage yield and you could take loans, you know, pledging those, cryptocurrencies as your security. And as of May, 2022, I have data around it. So they had lent out around $8 billion. That's 8 billion with a B and had almost $12 billion in assets under management. So that's a big number in terms of anything within the crypto space, right? What happened was in June, 2022, due to extreme market conditions, they indefinitely paused, all transfers without any reason. Surprisingly, on June 10th, during his weekly AMA, which is Ask Mashinski Anything, Alex Mashinski was the CEO. He denied that they were having problems with clients, accessing their funds. And on 13th June the company paused all, withdrawals in order to stabilize liquidity and operations. And I'm quoting this because they cited "extreme market conditions", right?

Mike Benzaken:

Cause you have to quote it to be able to repeat verbatim the amount of ish that popped out of their mouth. That's obviously not your death. That's why I had to be quoted. Yes, I understand.

Prasant Roy:

Absolutely. But, have you analyzed what was the reason behind this collapse? I know some of the reasons were due to Staked Ether, that they were pegging their Celsius token on and all of that. But can you explain it to our audience in a better way? Like why did Celsius Network collapse?

Mike Benzaken:

Okay, well, so, okay, so you're asking actually a very big question because there's no way to know for certain at this point. And also I'm going to restrain myself because there's certain areas within why they collapsed that we don't wanna pursue because it wouldn't be in the interest of the depositors. But this is what I can tell you. So first things first is that they incorporated in Delaware, or they were in a series B. Okay. So they were raising funds. At that time they were receiving financials. This is right at the end of what we know now was the bull market. So this is around November, and this is before the second market drawdown, which was I believe, just immediately after literally the series B was run. Now the question is those financials, did it show that the earnings owed exceeded the monies coming in? Right? So at the point where they then went from, I believe it was Tel Aviv, but in, in Israel, they reincorporated to the state of Delaware. That's like an arbitration clause. A lot of people do that. Delaware's a nice spot, vote taxes, and then, but their legal jurisdiction would've technically been likely Hoboken, It would've been a legal argument, right? In the New Jersey, right? New Jersey. And now the chapter 11 is in New York. Right? And that's for a whole nother thing that should never have happened. But, they engaged in a series of practices at the time when they incorporated The question is, were their three months evaluated? The three months, balance sheet, you know, the full financial, you know, docs, docs, was it, evaluated? And if it was, whose oversight missed the fact that it required additional funding now, during a recognized bear market, by the way. So you're not gonna do evaluation and do a series C, another, another raise half the valuation of your B. That's not really how these things, you know, usually work. You're not gonna attract the funds for, I mean, you're gonna try to, but then the shareholders are gonna, you know, tear each other apart. That's not gonna happen. So you're, you can't be dependent on future cash. That is unlikely to happen. And also, the Bitcoin mining operation, that's, again, was a speculative play on btc, still looked like things were going bearish. So there's an argument that the p worders are not gonna get into that it was allowed to be incorporated in the states, which by the way, was the reason why a lot of people invested in that app specifically, versus let's say Nexo, which is still publicly solvent. Right. So that's one. Two, there were apparently 700 million in realized losses in MakerDAO and wBTC. Yeah. Show me where. Right. Show me where those losses came from. So we're not gonna go beyond that other than to say that we know some people over at MakerDAO. We know people who report reported these realized losses. So there would've been liquidations or there would've been swapping out for something and, you know, taking the loss. None of that was available on chain. We know the vault and so on. So we're working with blockchain analysts on that. Others was the extraction of huge sums of money leading up to the market turbulence, conditions of, you know, the principal shareholder, his wife, and some of their executive management. Also, that had to do with just irresponsible play. I mean, the basis price whereby, you know, the, the Bitcoin was at, or their Staked Ether was at. Then there was the issue with Ether. But, but this would've been more like just bad business decision when it comes down to court. Then it would be like malfeasant or gross neglect or embezzlement, right? So, so there are real crimes that we're not gonna say occur. We're saying we, that that allegedly occurred and we are crowdsourcing the source document now. And doing the block, the the analytics, right? And the blockchain. Knowing now that things went off chain, what assets were actually under management at the point of restriction versus at the point of filing versus the nonsense that they allowed in the court. All these decisions that are happening in the court right now, like we're picking them apart, right? The, at the end of the day, it's simply to gain leverage. So we can show there was five points of criminality, minus, minus Mashinski, by the way, who will go after allegedly who committed budget crimes, right? But that's after the fact. It's about getting the leverage over the existing shareholders to say, Guys, listen, we need to go reorganize. We need to go do X, Y, and Z, and this is how we're gonna go do it. And we're gonna attract X amount of funding, and you're gonna be happy with 200 and this amount of dissolution of the equity. It's gonna be a complete rebranding. It's gonna be a complete, you know, executive management. All, all of you guys are out, right? You guys no longer have you. You are now furniture. Consider yourself furniture. Sit down and shut up. And you let us pursue this, or we're gonna pursue criminal action against you for having to engage in a P word or whatever. Right. And, yeah. So that's what we're working on now. So behind the scenes, there are people working, there's a whole bunch of special interest groups going on representing this niche, that niche that needs to roll out each other's throats. Then there's another group that's just noisy and bothering everybody. But yeah, it's made very complicated by the fact that no one can just like a, understand what's going on because there's an unprecedented, I mean, you can't blame them because some of this is unprecedented, right? But then b, it's like people are finally realizing now that money runs the judicial system and there's no true equal, justice under the law. That's a baloney concept. And there's so many people who are now reaching maturity go, going through this, that it's, it's, it's funny. It's like, it's, it's the death of innocence. So they're essentially getting like what they would call like red pilled, but not like partisan, Like, it's just like, Yeah, man, this is reality, bro. Right? It's like, This company who's restructuring to get out of chapter 11 is actually just a profitable, allegedly a profitable exit scheme.

Prasant Roy:

Exactly. And, just a bit of context around chapter 11. So that's the bankruptcy filing that Celsius that filed for on July 13th, 2022. And, Mashinski actually resigned as Celsius CEO on September 27th, allegedly after embezzling funds from Celsius Network as well. And, the omnibus hearing is scheduled for November 1st. So that is when all the claim pleas be heard for resolution. That's what I know about the, the Celsius Debacle.

Mike Benzaken:

Oh yeah. FTX US President resigns a day after, Right. Roy? You know, , I mean, I mean, we talk about your cosmic coincidences, right? Then you have, you know, shareholders dropping off like flies. Like there must be something, you know, they must have a COVID-22, you know, inside Celsius. Or despite the fact that they're all living apart from each other, that to keep on residing. So all these coincidences, right? So I would say if there's anyone working at FTX UX who happens to have all the transaction data around the point of these realized losses, or if there are any major shorts that happen, you know, with the 2.5 somewhat billion of Celsius Network's assets that were sitting on their sites, you know, we have an area where one can anonymously upload and we can't track you transaction data, internal financials, emails or whatever, Right. You know, so I can't stop you from doing that. That's your decision and that's what you decide to do. We'll use it. So there you go.

Prasant Roy:

Absolutely. And actually we'll put those links in the description if you are interested in sharing, or you have some inside scoop into those details around what the Celsius Network is actually doing. And, so any, anybody who wants to check that out, I'll put the links, in the description or the show notes for the podcast. So, I want to talk about more about, your foundation. So you essentially mentioned education, community building and, relationship building, right? So can you talk about what are the things that you are focusing on and how you're rallying the community towards this cause?

Mike Benzaken:

Yeah, so, so the three exemptions, the other one just real quick, was R&D to goods and services, right? So it's a community organization and relationship building. So right now, like, so there's a reorganization of the global financial and geopolitical chess board, right? So the global financial system and the geopolitical. So there's tectonic plates that are moving this idea that it's either, so yeah, sovereignty has been destroyed, I mean, in a huge way. But also interconnectivity can be very positive in so far that it's people to people peer to peer. And it's not, you know, like a, multilateral agreements amongst governments who don't act on behalf of the betterment of their people, right? So what we need to do is educate people first on, on the dangers and the upside on the criminals and on the heroes of the emerging tech space. And we just happen to be right now focused on the, on this very niche area, which has made it hard to build a large following because no one really gives a crap. Cause no, there was like, it's like internet money is like, Oh, and they lost it, man. Like, no one cared. Like really, no one gives it credit like it's the truth. It's like a small niche and it's uber niche and they all hate each other right now, and they're fighting. It doesn't help. . But like, yeah, so we're starting, we kind of picked a hard nut to crack, but it was a personal nut, right? So never trust a foundation or charity, by the way, where the founder doesn't have a vested interest in its outcome. Because what they're doing is they're just taking your money and, you know, they're doing it under the guise of being virtuous. I hate to bring it to you folks, but everybody has an agenda and some of that isn't taking your crap. So don't voluntarily give them your crap, right? Just because they say they're gonna do something good, make sure they're actually doing something good. But anyway, yeah. So that's the education part, right? We wanna separate the, the wheat from the chaff. We have to do this. Cause if we don't, people are gonna get wrecked by a-holes like Celsius Network, right? And, you know, we have this problem, right? And, it's a huge problem. It's a huge, huge problem. So, community organization relationship building has to do with the interconnectedness. We're not relying on our state departments to form multilateral agreements for us to have, you know, incentive to do this here. They're here. The, the, the people in America, they're, they're getting their life force extracted from them progressively, increasingly day over day, in the last couple of years. And it's only gonna get worse in the years to follow likely, or it will remain the same, but just a compounded inflation. What's happening with CPI, you know? So it's gonna be bad guys, It's gonna be bad. Europe is gonna go through a terrible cold winter, right? They're gonna have an energy crisis despite this new pipeline that Sweden just announced that they had. At the same time the Nordstrom thing went, right? So they never released the outcome of that investigate, which is interested. So the idea is this, is that the global south is, is effed is effed right? Just look at, I mean, this is not conspiracy theory, right? So you go look at the side effect of ESG being pushed down by a handful, really. One, but a handful will say, we'll, say a couple of super nationals. Some, which, I mean, I know, I know people from there. So this is not, again, conspiracy theory, like, you know, this is their mindset. And the policy goes through European Commission and it gets pushed out west and it's like essentially a social credit score in corporations. And then they start pushing this nonsense, you know, down, through, you know, let's say the Brentwood system, you know, various super nationals, right? That, or, or governmental agencies, who lend out money and stuff like that. And so they start adopting these different policies and they're, you know, policy positions during, you know, the next, election cycle. And then they find themselves, without energy and they find themselves with a, you know, an economy that is just being, that it is written out. I mean, it's amazing looking at some of the African nations, right? Just how they were climbing out and now they're just like descending. Like, just look at Sri Lanka, right? The best example, right, that I can think of right now. That's gonna happen, that's gonna get worse. So again, the UN 450 nice words are gonna die to death. And then the sentiment regarding that is, that's kind of okay because there's like totally so many poor people in the future from the global south who will be saved as a result. So these 450 million of poor people or like, you know, people of vulnerable people distressed, yeah, they're going to have access to food, super deficiencies, whatever nonsense or well nonsense that they're shoving down people's throat, essentially. They're gonna, they're gonna not have food, right? They're not gonna have food. Okay, great. But everyone who actually matters 3X that it's, you know, 1.2 billion and that plays out, you're talking about four horseman type crap, right? Like you're really talking about some bad stuff. Mass migration, talking about just not good things, you know, endemic disease because of all this, you know, dirtiness and not having access to sanitation, I think becoming pandemic. And then you have a repeat of the damn cycle of what they did last time, which just tried to essentially use, this, you know, relatively benign from what we know now at least, to young people, the productive people in the workforce, right? The ones who are not immunocompromise. From shutting down their companies and effectively redistributing wealth to, these behemoths who if they are over leveraged, they'll just bail out. So it's like, yeah, yeah, yeah, yeah. We need to connect people to make sure that as many people as possible have access to intellectual capital, human capital, financial capital. Now of course, we don't believe in handouts, so it's the most industrious people, right? So that's what we talk about is you find the most capable people, the most driven people. Now they don't have to be geniuses, but they have to show up every day and they have to have conviction and they have to be able to have the right mentality. They wanna handout, They can go to another foundation cuz there's a lot of foundations like, you know, the UN would love to give you a handout. They would love to make you dependent on them. So your life is essentially a living hell enjoy that. If you are a productive person and you're looking to get involved, then we connect with other productive people looking to get involved so that human capital, intellectual capital connects with financial capital. And what do we have? , we have now an opt out into economic disparity, right into, into hopelessness, really. And we have the building, right building as opposed to destruction during a time that would otherwise be destructive. Like, you know, the, the dragon that approaches the field seriously. I mean, like, I'm being real right now, right? I mean, it's a metaphor, but, Right. I mean, here's the field. We're moving into the fall. The winner's not soon to follow, right? The dragon's already at the field, all right? Don't like, I mean, don't think otherwise if you do, you're a schmuck or just like naive, you know what I'm saying? That's it. You're one of those two or you're lying, right? So you could be the one of those three. And so it's there. Do we let it go forward? Un mitigate. That's a decision that we need to make as individuals and at those individuals who say, No, we're gonna impede it so we can do something right to help people. I mean, we're actually like, good If we actually say that we are good people then, and we should have good deeds saying you're a good person, or thinking you're a good person without good deeds. You're just a-hole who knows nothing about yourself. So it's like, okay, the right guys are gonna get together, they're gonna be connected, and they're gonna mitigate harm. And the wrong guys, they're just not gonna participate. Or they're gonna try to shut that down, which is a, you know, another reason why it's a private foundation versus a charity. Why? Because ESG is a bunch of BS and it's there to, to apply, from a country far east of here, social credit score onto, the corporate body, the large corporations, and then the, you know, the CEOs, they're not making decisions. They're furniture. They're not like large shareholders, guys, like, it's like, Oh, all these guys are all corrupt. It's like, no, they're just number one scared. They're gonna be replaced cuz they're treated like baseball players. And b like they know their stock is gonna be shorted into oblivion if they don't coile to this ESG nonsense and put up this like DIE nonsense on their sites or, or else they can't get a grant or they can't get a handout or whatever it is. So they have to play along. And these are not bad guys either. Like I, I know a handful at least, you know, I mean, live. Right across from Midtown, downtown. It's like it's against every fiber of their, So it's like, yeah, like I get it. Like they make bad decision. I'm not saying enough for PayPal by the way, they can go screw themselves. But what I'm saying is that it's happening on this scale and as unimpeded because of fear. And so private foundation versus charity allows people who wouldn't otherwise be able to take action due to fear of, you know, this mob Web 2.0 corporate press sort of, you know, manifested reprisal to get canceled. You're like, you know, try to cancel me, bro. Try. Like, I've, I've seen shit that you don't even believe. Do your worst. That's my domain. I live there son, Right. So you try, right? So we're protected from law. We're protected from just about anything. And, it gives people the ability to leverage us as an instrument. Despite them not being able to make the financial allocation decisions we do. We just say, this is a cause that we believe in and we're gonna go, you know, Fight it tooth and nail to make sure this happens. And you know, hopefully the exemption comes in soon, but because it's so, I would say fringe relative to your standard 501(c)(3), run by a guy who's a little bit more taken by his passions at times. You know, the exemption might come in late. So we have other ways of, you know, getting, you know, funding to make sure that we're operational. But we do hope to have that exemption within the next six months. And then we're gonna start asking, for donations. But until then, it's just like, what your money, Cause you're gonna need it. Trust me.

Prasant Roy:

True, true, true. Absolutely. And from what you told me about Celsius, specifically, I'm drawing so many parallels to what we have already seen in the past, right? 2008 crisis. Mt. Gox crisis, All of these crisis is just leading up to what we have seen happening again with the Celsius network. Right. Our trust keeps on getting broken and broken again and again. And Satoshi's vision makes so much more sense now. Right. You, you, you, you love Bitcoin, right? I'm sure you agree with me. In terms of, people who have been affected by Celsius network and right now, the hearing is coming up, right? So what would you suggest? What are the resources that they should prepare with, what are the ways that they can learn about how to get their money back? Can you suggest, some ways that they can learn about this?

Mike Benzaken:

Yeah, of course. Yeah. Follow straight out. Straight out. They aggregate all the motions that are, that are being entertained by the court. And, is it the judge that recently released everyone's holdings? I mean, I don't know. Did Celsius network? Do they, So whatever, What happened was everyone's holdings by their legal name and all the coins that were held, and if there's a little check mark or not, which means that they were alone out against someone that was collateral, that was released. And then somebody else who we've identified, by the way, will be making public in short time, then put it on namecheap, some, you know, hosted this domain on namecheap and then really broke it down. So you could really have direct access to completely infringe on your, on your neighbor's privacy. So in case you really wanted to know, you know, how badly your neighbor got screwed, ready access is, is there for you, you know, it's still up with, but it's going up and down anyway. I mean that huge breach of the fourth, amendment, and that, that's a constitutional issue that should be, taken up, by the right party. So you're saying what can they do? Number one, check, check what their holdings should have been against what's being reported. Publicly against your name. So just go up, look your name up and say, Is this what I had? And, it might be tough, right? Because what we, now we know that we're taking stuff now off chain, right? So what do you have to do? Go link it up to like one of these, like coin linker type things or like, you know, see for the taxes, find out every transaction, inflow, outflow, and then see in there and then peg it against what's now publicly available for everyone to see. Again, I wanna know how that happened. So if you know exactly, let us know on the, you know, DM us on Twitter. Avoid Twitter if you can email us. But if you're on the Twitter, do that. Cause we wanna know really what, what happened there. And that's still kind of confusing. So that's one thing you can do is pair up the assets that are due versus what you have. Another thing you can do is, soon there's gonna be a attackable. Right now there's a tax issue. A really strong tax issue that's happening. So we are gains in 21, and you were on an extension now due, and now federally you can offset that. So if you had capital, losses from last year, okay, so maybe that's good. Maybe you're managing your loss as well and you carried that over. But then a lot of states don't allow that, like New Jersey, right? So, what do you do there? You contact us. Why? Because together we can do stuff. Apart we are just individuals who can make individual decisions that can in the aggregate have a major effect, but we can't move against an institutional machine who's just plowing forward, right? So reach out to us. Then there's a, we have a Celsius, it's called damage report available, and it goes through quantitative and qualitative suffering that you've, let's say experienced or loved. One of yours, let's say, that passed away since, which is a really sad thing to say, right? But we, we have one verified US based suicide that occurred as a result of the restrictions that we can say because it was a friend of ours. But we have others that were wives of them, for example, submitted. So we can't verify that, or it's much more difficult to verify. And, you know, we have limited resources and we essentially took our own funds, so we self funded everything, right? So it's like, you know, we need to be like, we don't, we don't have investigative journalists and private investigators, so it's like we can do the best we can with the resources that we have, but it's, go fill out the forms so there's qualitative and quantitative. It then becomes deep personed from you if that's what you, you have to opt into it staying personed to you attached it to your person. But we, we go through a verification process. This information is an aggregated on the quantitative end and then on the qualitative and the opportunity to do like an interview, to submit a testimonial, et cetera. This guys, like, I know it's your tiers, but your tier added into a pot of tiers is gold relative to gaining, say leverage during the negotiation of the damages that's happened, gaining. Message amplification through the media. Cause the media can say only so many times, No, Mike, we're not gonna go air it. Or like, you know, they'll air something, not air it, but they'll, they'll take, you know, the, they'll capture it and then you're like, When's it gonna air? They're like, We decided to talk about Kardashian. Instead, you're like, schmucks, you just wasting all this time. Like, what are you doing? What are you doing? Right? And then allows us to then run a harassment campaign on Twitter, can then look like a bunch of a-holes. And the older only way that they can save face is by putting a small plug on. Trust me, no one gets an ish about you guys. No one gives an ish. I'm so serious. You no one cares. Even your family have the time. Probably thinks you're a piece ish, Right? This is the truth. So if you want your stuff back, you need to fight for it. You need to get off your tush and need to do something about it. You staying there. All my, my, my life savings about to go to zero and we are like here, this is what you can do here. You're like, I don't have time. Well, hey, schmuck, maybe, you know, mm, not worth fighting for, right? So it's just like, okay, either you take individual action and we just gave you three points to do it. The fourth point is to stop the sell off . Now, that's the most important, right? If you're an insider and or, you know, let's say, just happened to come across some of the information that we've identified and accidentally upload it through the anonymous thing, and we just so happen to receive it, it'll be used to leverage to back what we believe to be the strongest and most fair depositor's first proposal. I don't care if your custody or earnings, your bickering, guys, I, I just can't hear beyond your nonsense. Shut up. Shut up. Let the men work. Right? Honestly, let the men work, right? It's like, let's get this done, because these people, like you don't represent all the Celsius depositors. You're just a noisy bastards that made your way on Twitter. Okay. It's like let us get them their ish back as soon as possible in the most legally sound way, as pass as possible by coordinating, as opposed to trying to tear each other down, which just seems like that's all you know how to do. Mine is like 10 of you.

Prasant Roy:

Absolutely. Absolutely. What was something, when you started Citizen Warrior Foundation, what was something that was really more challenging that you expected it to be? Like, did you expect something that should have happened but didn't happen your way? Yeah. Was there some myths around your work with Citizen Warrior Foundation that people un misunderstood you with? Can you talk about the story around that?

Mike Benzaken:

Absolutely. So, so I mean, a few things and it's not, It's like we're not alone in any of this. By the way, you'll find this if you attempt to do great endeavor, which is, which means like just essentially an impactful endeavor, right? One that may sound grandiose, but every great idea was like, I wanna do something good. And good is a very grand deal. I mean, is is, I mean, is your five circles are good, right? Yourself, your family, your community, your nation, state, the world, the world over time, legacy, right? So, I mean, this is grandiose is by nature, by definition, right? So, yeah. The first thing is that when, so there's a saying, no good deed ever goes unpunished. Now, if you allow that to stop you from going forward, then you are never meant to succeed. So you better stop expecting schmucks online from validating you. And you should be able to take the slings in the arrows because, or else, guess what? I ain't gonna support you as a leader, son. You were a little boy and you need to grow up, right? So yeah, we, we had that right? But like, I love to tussle, man. I like to roll. Like, I mean, I mean, you. Bring it on, son. I love mobs too. I mean, it, it's great, having to, deal with mobs impugning intent. But no, I mean, what we saw was a lot of theft of reputation. They're saying, Listen, like you're trying to fundraise money to start a foundation to reconcile this. Why would you start a foundation and raise money? Well, I'm like, geez. Number one is that not everyone who donates wants to be listed publicly because they might wanna be protecting long term investments. That's one. Two is, things cost money. Capital, like, let's say, I don't know, a lawyer, paid adverts to accelerate the message, right? Media access. Okay. Basic operational overhead, right? Which we've entirely self-fund. So we lost all our money and now we're self-funding everything because you a-holes got in the way and impugning intent. Right, And it's just like at the end of the day, it's like if you wanna know who to trust, trust a guy who encouraged maximal cost on behalf of the cause that he has that plurality of intent in terms of supporting, like, I got F you got F I wanna help us both. Right. That you can trust because it's not just like you got F all. I love you so much, let me help you. I don't like the majority of you by the way. So what I'm saying is like, Right, let me just be clear, right? I'm honest, I'm clear. But when these people had the chance to get together, especially on Twitter, we, we could have got Celsius out of a hole. That's how they're like 1.2 short. But because of their bickering, you guys sent us back a month. We had to reorganize everything. We had to go again, just. We had to go so far and beyond what we would've had to in order to safeguard Celsius. And I don't know about preventing chapter 11, that wouldn't have happened really because that this would've been too much, too little time to do it. But it would've been in, in Kevin nipping it in the bud right around the time that it filed. But it it still had all the criminal stuff that we could have identified, use that as leverage and, less of a spread. Cause they, you know, these kids aren't extracting crap and swapping out, so whatever. And it's just, could have found the way out with the restructuring of management through, a VC injection and, like a rebranding. But because these schmucks on crypto Twitter go around and, and they do that to everybody. They even hate each other. Even within the same group. They hate each other. It's just mind blowing. But it's actually not mind blowing. But that, So you asked the question, you said what happened? That was an infinite, like early on, and it was just like, we could have done it if these little boys. Playing men didn't get in the effing way. And because they did, everyone has to pay for it. Everyone, because the little boys with their soy lattes, were trying to play men. Boys, let men do the work. Get out of the way. That's my loving message, . Prasant Roy: What is, what is the best way that people who want to support, Citizen Warrior Foundation, what is the best way to show their support for you? Can you share that with our audience as well? Very kind question. So there are four ways essentially. One is to, if you're a company, to partner with us, to further, our exempt purposes. Okay. So again, it was an education so that you're in an emerging tech education, community, organization, relationship building and R&D into goods and services. That's number one. Number two is, volunteers. So we have a list of volunteer positions that are opened. We're all unpaid volunteers. We're all working, say, three blocks of four hour focused sessions a day, seven days a week, which means essentially like 16 hours, 17 hours day. Right? But, you know, we're working our, Yeah, very in a focused way. So it's like we're gonna keep on doing that, no matter the, we're just gonna keep on going, right? Like, like, I'm gonna be killed or I'm gonna do that until the day I die. But, you know, things will resolve itself before that. So I was saying like, if you wanna come and you're hardcore and you wanna contribute, or let's say that's too much time and you wanna do some part-time stuff because you have like a core competency that's that, that the market values and that would really help contribute to our, strategy and our cause. Like please reach out. All the volunteer rules are, are posted. That's number two. Number three, we have like what we call just like our, our, our boosters, social boosters. So because we had to start all these new native platform, And you can see, if you go to our Facebook page Shake, that's really cool. Like, take a look. The first half, like 10,000 likes and comments and stuff, right? The second half, it's like, you know, you got like 15, 15, something like that. It's, it's when we stopped doing paid adverts, right? Cause they took a lot crap, right? So it's like, you know, what we're trying to do right now is we have this Discord thing coming up and we're gonna eventually do some cheesy thing with the airdrop and the blah, blah, blah. But that's down the line. Like, like that stuff guys. Just stay away from that crap. Right? You know? So if you wanna support the cause, join the, the, the, the, the, what do we call, like the, the Boost crew or the, the Boost crew? Something like that. Yeah. Whatever it is, It's a Discord channel and we can, we can find us. And then the last one is we're establishing a donor network. We want people, high net worth individuals that are highly vested in emerging tech who understand what this CeFi debacle is about to do to our long term, you know, investments. And these are business owners as well in emergent tech, looking for evaluation in one or two years, once a moment, return to bullish. I'm speaking to you guys cause if you actually want a reasonable valuation, pennies on dollars once we get our exemption, or if you don't mind it, delayed, whatever. It's like if someone does not start doing something as, I mean, could we be any more evident Voyager Celsius network? Well see what happens with the next show. Three Arrows Capital. Look at what's happening with FTX right now. You know the BlockFi alone, you just wanna keep on going through it. Do you need any more proof that the ish has hit the fan. And that if you wanna protect your investments or your companies or you wanna have a good valuation, you need someone tearing down the criminals and let's say avoiding the government boot from stopping out your innovation or bringing you into court for some kind of nonsense that they'll look at retroactively said you're guilty and you gotta argue it out. They're gonna lawfare the hell out of you and then you're just done. So that's how you can help.

Prasant Roy:

Absolutely. Absolutely. It, it is honestly such an inspiring story that you have. Mike, I actually had a question while, and this is, might not be relevant to what Citizen Warrior Foundation is doing, but it is something of a personal story myself. You mentioned about Vauld, right? Vauld declaring bankruptcy as well. Right? And we were also investing from India into Vauld, and a lot of our funds are also stuck and we are kind of somewhere in the same space as you are. How do we fight against this? What is the model that we can replicate over here? Because Celsius is registered in the US right? But in India, Vauld is kind of registered in Singapore, so it, it's more difficult for us to do so. How do we kind of rally around this cause? What do you suggest for people who are invested in the Vauld and how do we kind of replicate the same model that you are fighting for with Celsius?

Mike Benzaken:

Let me give you play by play. So the first thing is I know people in Singapore that are the good guys, and I mean that for real. Like they are, they're good guys. They're OGs and they're the good guys. They know. I mean, you take any of these Web 3.0 kids who by the way are brilliant, so I'm not trying to put them down, but like these guys know the substrate of the substrate that these guys are building, right? And they know about all the shenanigans. So this is where partnership comes into play and relationship building, right? This is exactly what that comes into play. We do know the model. We do know, we do know the best approach we believe, and if not, someone knows a better approach. Critique our approach so we can improve it, right? We always welcome constructive feedback. But what you wanna do is establish a medium that can have legal standing, right, that can, receive capital, that can, build up human capital and intellectual capital, and then connect it to a, let's say, legal representative in Singapore. That's number one. Number two, damage reports are like golden bars in that people's legitimate, meaningless suffering tears, which is a terrible thing, right? It's terrible. It's terrible. All right. But, but those are assets that you can build up and push away into the media, because if you're not getting this story, if you think, like I said, no one gets an issue about you, I'm sorry, like half your parents think that you suck, just so you know, in case you didn't know, half your parents don't make you, okay? So the broader public doesn't give an ish, especially because they thought you were like, a half of you were bitcoin millionaires and the other half are like investing in dogecoin, right? So anyway, the, the point is this, is that you have to individually make the decision to take action. Someone has to go get an institution together. I suggest, somewhere where they can privately donate. I don't know how it works, right? In India, if it's called over here, it's called a 501(c)(3). And then you can choose amongst the 501(c)(3) and exempt purposes, but essentially where you can give, where people can donate to you and their, person who would remain un public. Okay? Cuz you know, this is always conflicts of interest in all these different un public, un public, un public. Make it private and establish some trustworthy legal representation. Collect those damage reports. Identify. So get a blockchain analyst on board. Get as many assets under management as they were before they restricted the withdrawals. Right? Try to find internal financials if you can. Right? When was it incorporated? How long after? You need a few blockchain analysts, financial analysts, you need access to the areas within Defi that they were using in order to generate this yield. And then you need to have their financials to see if they were, at what point they became an illegitimate company, if that ever happened, and if there was malfeasance at play, which you'll be able to tell through having access, which requires the source documents, right? So either you go through a full legal, you have a big backer, you get legal standing, and then you subpoena the documents. That's a way. Or you encourage what we're doing, which is a crowd sourcing event so that people can anonymously contribute them, but obtain legal standing and then pursue it. And don't do it where you're pointing fingers at each other, like a bunch of stupid children. So nothing gets done. Find the most reputable person that you can agree upon. Like just take your leaders of like, let's say the, the A group, the B group, and the C group. Get together, the leaders get together and just fight it out and determine who their Murdoch is gonna be, right? So get your Murdoch. Are you a good Murdoch? Yeah. Okay, good. Go for a good Murdoch. And a good Murdoch goes over to the legal rep and says, This is how we're gonna do it. And then pursue it and be relentless, right? Because no one's gonna get your crap for you. No one has your interest in hearts. No one gives an issue what happens to you. And if you don't take individual action you think someone else is gonna do for you, quite frankly, maybe you don't deserve your deposit. Right? So take individual action. It happens with the sovereign individual taking action and taking accountability to mistake. Custodying it outside of cold storage. Okay, let's recognize that mistake. That's how we contributed, right? Too good to be true. That's how we contributed. Now we look to the external loci of control, and it might have been third parties outside, right? Of, of Vauld, I don't know. Right? Or it could have been the insiders. Find out, find out, sit around, do nothing, right? Don't expect anything bad. But yeah, form a partnership with us. We'll walk you through every single step, all the connections you need. That's what we do. That's what we do. So why we're here.

Prasant Roy:

Absolutely. I think, this is a great approach, Mike, and, I, I talked about this because I personally have skin in the game. A lot of my assets were seized as well. And I empathize with you when you talk about your experiences with the Celsius network, right? So, which is why your approach will be really helpful for our audience sitting here in India who has kind of invested in Vauld and kind of are suffering the consequences of doing that. But thank you so much, Mike, this was a really fruitful conversation. I'd love the way you explained a lot of things, and I would love to talk for another hour to be honest. But thank you so much for making emerging tech more responsible and minimizing meaningless loss, As you mentioned, and in my opinion, truly your efforts kind of have the potential to change the world of crypto and Web 3.0 as we know it. I think. No one is kind of doing the work that you do because, this is affecting the people who are believing in this space, right? And their beliefs are being tested right now. And that is what is happening. And thank you for showing people a way to kind of redeem their belief in this space. Have more checks and balances and have a better, safer crypto and a Web 3.0 space, right? So thank you so much for sharing these insights with our audience and I wish you and Citizen Warrior Foundation all the best with your future endeavors as well.

Mike Benzaken:

Thank you so much Roy. It was a real pleasure. And if you happen to move into wanting to, resolve this issue with Vauld or you find someone who is really looking forward to that, I'm happy to. I gotta qualify them, vet them, and if all's good, welcome 'em through the process and connect them with legal representation.

Prasant Roy:

Absolutely. I will, I will take you up on that for sure.

Mike Benzaken:

All right.

Prasant Roy:

Thank you so much, Mike, for your time today.

Michael Benzaken Profile Photo

Michael Benzaken

President & Founder

Mike Benzaken is the former Chair CEO of an SME Multinational Life Sciences Company and was instantly attracted to blockchain technology for its prospective applications in funding overseas disaster relief and economic development.

Shortly thereafter, he began the startup Citizen Warrior, which focused on designing a web 3 decentralized media apparatus, DeCent Media, to reinvigorate integrity in journalism. As a result of his pursuit, Mike had fallen victim to repeated institutional censorship and as a result, Mike sees TradFi, the Corporate Press, certain Regulatory Bodies and unaccountable Supranationals as an existential threat and impediment to wide-scale human flourishing.

Today, in the wake of multiple lending/custodial platforms filing for Chapter 11, Mike and his development team has suspended their private equity venture to spearhead multiple initiatives with his nonprofit Citizen Warrior Foundation. CWF is building partnerships, a private donor network and onboarding volunteers from experts across Legal, TradFi, DeFi, and “Web3” more broadly, in order to educate the public about the various elements within the so-called “crypto-sphere” and emergent tech more broadly. Currently, CWF is investigating the root cause of the ~$1.5T crypto market drawdown that resulted in the numerous CeFi platforms to restrict their users from withdrawing their deposits and ultimately file for bankruptcy.

CWF has since ID’ed multiple points of prospective criminality and intend to leverage these events to assist in brokering a Depositors’ First outcome for the victims of what they see as rampant managerial malfeasance and gross neglect of those responsible for ensuring the financial help of the Celsius Network.

Relative to the Corporate Press and in line with CWF’s pursuit of integrity and accountability in the “crypto-sphere, their brother company Citizen Warrior, Inc. has launched WarriorCast – “Seeking Truth in a World Seemingly Gone Mad.” In their podcast, Mike interviews Industry Leaders throughout emergent tech and rips the nerd out of freedom-safeguarding tech and shoves the resulting goodness down his audiences’ brain-holes.

There’s so much more to the Citizen Warrior Enterprise and ways YOU can personally get involved. You can learn more about the Citizen Warrior Foundation and WarriorCast / DeCent Media and how to get involved through Citizen Warrior’s LinkTrees, here: https://linktr.ee/citizenwarrior and https://linktr.ee/WarriorCast.