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.

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.

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.

Did Celsius file for bankruptcy?

"Big crypto lender Celsius files for bankruptcy". TechCrunch. Retrieved July 15, 2022. ^ Celsius (June 13, 2022). "A Memo to the Celsius Community". Medium. Retrieved July 14, 2022. ^ Wilson, Tom; Lang, Hannah; Howcroft, Elizabeth (June 14, 2022). "Crypto contagion fears spread after Celsius Network freezes withdrawals".