Is Celsius Network's Alex Mashinsky a bank or a lender?

Celsius Network CEO Alex Mashinsky built his cryptocurrency lender into a giant on a pitch that it was less risky than a bank with better returns for customers. But investor documents show the lender carried far more risk than a traditional bank.

Could Celsius's troubles lead to a broader market contagion from cryptocurrencies?

Celsius’ troubles have reignited worries over the risk of a broader market contagion from cryptocurrencies. Tether, the world’s biggest stablecoin, hovered below its $1 peg Monday on several major exchanges as investors fled the token. Celsius borrowed $500 million in tether tokens, posting bitcoin as collateral.

Is Celsius better than a bank?

Celsius CEO Alex Mashinsky built his cryptocurrency lender on a pitch that it was better than a bank.But investor documents show it had far more risk than a traditional lender. … This content was created by one of our content team members. You can pitch a news story — including guest contributor requests — using our story portal.

How does Celsius's position affect the crypto-verse?

Furthermore, Celsius’s position in the market can severely affect the crypto-verse. Celsius is one of the largest lenders in the industry, and if they start liquidating the same could lead to negative market momentum alongside bearish social sentiment.