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.”

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.