Oh, I see. I hadn’t heard about the Celsius scandal but just read up on it. As a fairly new Bitcoiner I keep hearing all these marketing pitches about borrowing against one’s BTC. I wondered how it works and knew there had to be a catch. As I now understand, there are better and worse ways to do it. A better way is to keep the LTV sufficiently low so you don’t get wrecked it the collateral value drops precipitously; ensure transparent margin call and liquidation rules, use a smart contract or escrow agent, don’t give away ownership/don’t allow the lender to rehypothecate. My guess is that companies marketing these deals are structuring them in ways that transfer risk to the borrower so the company can make greater profits. If I ever have enough BTC to justify leveraging it, I’ll be careful who I do business with. Thanks for recommending this as a learning opportunity.