| Tags: CS:GO
| Author The News One
Copenhagen Flames Bankruptcy Drama Continues as Team Is Accused of Insider Trading
Copenhagen Flames players stirred controversy by buying the club’s own stickers a day before it went bankrupt
A CSGO skin trader going by the name satsdart on Twitter has revealed that Copenhagen Flames players purchased hundreds of club stickers a day before the club announced bankruptcy. After the news broke of Copenhagen Flames’ financial collapse, the prices of Copenhagen Flames stickers went up by two to three times on Steam.
Players from @CPHFlames mass buying their own stickers on buff the DAY BEFORE the company announces it filed bankruptcy 💀💀💀
They are securing their severance pay LMAO🤑 pic.twitter.com/Ar7fihqdNN
— Dennis Davis (@FLOATlN) May 1, 2023
In his tweet, satsdart said that he received bulk orders from Copenhagen Flames players on Buff, a CSGO skin trading platform, before Copenhagen Flames announced their bankruptcy. The screenshots he provided show the names of several Copenhagen Flames players.
Not enough to rly make a lot of money but ya lol pic.twitter.com/eLxp78NAMf
— satsdart (@satsdart) May 1, 2023
Why Are Copenhagen Flames Stickers Increasing In Price?
In 2017, Mashable reported that CSGO sticker creators make six figures a year and the market has gone even crazier these days. The CSGO sticker market now sees millions of dollars of trade every day, yes you have read that right, EVERY DAY!
This M4A4 Howl CSGO skin has officially sold on Twitter… for $215,000
How are you today? pic.twitter.com/PBsLOtN2ik
— Jake Lucky (@JakeSucky) April 26, 2023
Stickers from defunct CSGO organizations are considered high-demand collectibles since they are no longer in circulation. From an investor’s point of view, prior knowledge of an organization collapsing is a great opportunity. Chances are, the sticker prices of the said organization will skyrocket, so stocking up on their stickers before the team leave the scene sounds like a solid investment strategy.
Copenhagen Flames stickers have gone up in price for the same reason. Since the players knew of the imminent bankruptcy announcement, they took advantage of it and bought some stickers. As of now, they should be making four-digit profits in euros. It’s not a lot of money in places like Scandinavia, but it’s easy money regardless.
What will happen to the players who made this deal? It's unclear at the moment. While their actions could be considered insider trading, the Steam marketplace operates differently from regulated markets. So, any consequences would have to come from Valve.