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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.

Did Celsius stumble on its wholesale crypto investments?

Its CEO Alex Mashinsky said in October Celsius had $25 billion in assets, although that had fallen to around $11.8 billion as of last month, its website showed. Celsius appears to have stumbled on its wholesale crypto investments, according to public blockchain information and analysts who track such data.

What is Celsius cryptocurrency lending?

The NYC-based company is widely regarded as a cryptocurrency lending and borrowing pioneer. It has raised $93.8M in venture capital, private equity, and an ICO for its native token CEL. Celsius claims it’s “nothing like BlockFi.”

Why did Celsius buy cel?

Celsius was a major buyer of its own token, buying CEL interest it owed to customers on the open market. Crypto analysis firm Arkham Intelligence estimated Celsius had spent $350 million on purchases since July 2019. In August 2020, Celsius raised $20 million via an equity crowdfunding to support its operations.

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