On October 12, a false rumor circulated that the SEC was banning all retail crypto trading in the United States. Bitcoin dropped 8% in 15 minutes. Ethereum dropped 12%. But Emiri wasn't holding Bitcoin. He was holding leveraged positions in a obscure altcoin called Arctic Chain (ARC) —a token that had promised "cold staking" rewards.
Worse, the "Freeze Top" stunt itself was revealed to be a fraud. A materials science engineer on Reddit proved that the "liquid nitrogen" Emiri used was actually fluorinert—a non-toxic liquid that doesn't actually freeze fabric; it just makes it stiff. The "shattering" sound was a Foley effect added in post-production. the fall of emiri freeze top
It was destructive, expensive, and mesmerizing. On October 12, a false rumor circulated that
The stream VOD (now deleted) shows his face turning from arrogant smirk to blank terror. "That... that can't be right," he muttered. Then, he vomited off-camera. The chat exploded with "F" and "Liquidated LUL." But Emiri wasn't holding Bitcoin
He wasn't a trader; he was an entertainer pretending to be a whale.
Veteran traders noticed the red flags immediately. Emiri’s positions were dangerously over-leveraged (often 10x or 20x). He was using his streaming revenue as collateral for high-interest DeFi loans. When fans asked about risk management, he mocked them. "You stay poor, I stay cold," he famously replied.
Unlike his shirt, however, the pieces of his reputation will never shatter back together.