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.

Why is Celsius's position in the crypto market shaky?

Amid weakening market confidence Celsius’s position in the market remains shaky. The eclipse on the crypto market has given way to unseen events that shocked market participants. First, the collapse of Terra’s LUNA and now the Celsius Network conundrum has given way to considerable skepticism in the cryptocurrency market.

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.