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.

Did Celsius have a crypto loan collateralized with Bitcoin?

In 2019, Mashinsky told the Financial Times that Celsius had crypto loans collateralized with bitcoin. "The whole thing is just mispriced risk," Cory Klippsten, CEO of crypto investment platform Swan Bitcoin, said of Celsius' business model. Celsius has hired restructuring lawyers, the Wall Street Journal reported Tuesday.

Is Celsius a'mispriced risk'?

"The whole thing is just mispriced risk," Cory Klippsten, CEO of crypto investment platform Swan Bitcoin, said of Celsius' business model. Celsius has hired restructuring lawyers, the Wall Street Journal reported Tuesday. Its problems have sparked fears that other crypto lending platforms may be at risk of investor runs.

What happened to Celsius Network (cel)?

Celsius Network (CEL) announced on July 13 that it filed for Chapter 11 bankruptcy after a month of turmoil. The embattled crypto lender made headlines last month after freezing customer accounts, citing “extreme market conditions.”