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.

Is Celsius crypto filing bankruptcy?

The firm joins Three Arrows Capital as well as another lender, Voyager Digital, in the list of major crypto firms filing for bankruptcy protection. Celsius, whose mantra has been “Unbank Yourself,” offered both retail and institutional customers high-yield interest savings accounts.