Celsius Network's spectacular collapse tells a cautionary tale worth examining. The lender once commanded a staggering $3 billion market valuation, only to plummet to barely over $1 million. What went wrong? The answer lies in how aggressive marketing promises and overly risky investment strategies ultimately unraveled the platform. This case study reveals critical lessons about risk management and sustainability in crypto lending, showing how even seemingly dominant players can face catastrophic failure when fundamentals don't match the hype.