Celsius employees are focused and working hard with the goal of stabilizing liquidity, all reports that Celsius’ CEO has attempted to leave the United States are fake.
Image Source : The times of Israel
Founded in 2017 by Alex Mashinsky, Celsius Network is a cryptocurrency funding and credit platform or “peer-to-peer” lending company. based in London, UK. Since its inception, the company has expanded and currently has offices in New Jersey, Tel Aviv and New York. Celsius claims nearly 1.5 million users on its platform.
Celsius Network : A regulated platform
Alex Mashinsky is one of the inventors of VOIP (Voice Over Internet Protocol) with a founding patent in 1994 and is now working on MOIP (Money Over Internet Protocol) technology. Alex has been granted over 35 patents related to exchanges, VOIP protocols, messaging and communication. As a serial entrepreneur and founder of seven New York-based startups, Alex has raised over $1 billion and exited over $1 billion… ad exchanges, Twitter, Skype, App Store, Netflix streaming concept and many other popular web companies.
Celsius Network allows users to become borrowers and gain quick access to trust funds by pledging their crypto ELC as collateral, while paying minimal interest. For lenders, on the other hand, the platform offers profits on the interest rates of the securities they have deposited on their Celsius Network wallet.
There are many cryptocurrencies available on the platform, which gives the investor a wide range of choices to determine his strategy and generate profits.
On the Celsius platform, it is possible to:
- Borrow cryptocurrencies and
- Invest them in order to receive weekly compound interest payments
- Borrow euros or dollars by placing cryptos as collateral, which is an interesting way to finance yourself.
- Buy cryptos easily, by credit card or wire transfer, which greatly simplifies access to cryptocurrency investments. Of course, it is possible to transfer cryptocurrencies that you already own.
- Invest its cryptocurrencies at APYs, i.e. annual rates of return, which can range from 5 to almost 20%. This makes it a much more interesting investment than the investment products offered by traditional banks, which do not even cover inflation.
A new sustainable financial and banking system
Celsius Network: Liquidity problems?
Mike Alfred: Alex Mashinsky tried to leave the country this week
Alex Mashinsky attempted to leave the country this week via Morristown airport but was arrested by authorities. It is not yet known if he was arrested or simply prevented from leaving. Please contact me if you have any further information on this matter.
The thing that I keep thinking is that Mashinsky has almost certainly been contacted by the FBI already. He may have even been picked up, questioned, and released. There is enough here that the Feds will want to examine.
— Mike Alfred (@mikealfred) June 26, 2022
Alfred explains in a THREAD that Alex Mashinsky, CEO of Celsius, lied to the platform’s users about the safety of their funds and that since then he had not been heard from except to say that the matter was now “in the hands of the lawyers, for better or for worse.”
According to Alfred, Alex’s goal may has been to abandon Celsius Network and move overseas.
But Celsius said all reports that Mashinksky attempted to leave the United States are fake?
In a statement sent to several news sites, Celsius said that “all employees, including our CEO, are focused and working hard to try to stabilize cash flow and operations.”
A Celsius spokesman denied rumors that the company’s CEO attempted to flee the U.S. last week amid the ongoing liquidity crisis at the Celsius network.
The representative told Monday to that the company was continuing to work on restoring liquidity, stating:
All Celsius employees, including our CEO, are focused and working hard with the goal of stabilizing liquidity and operations. To that end, all reports that Celsius’ CEO has attempted to leave the United States are false.
On the bright side, the company has begun to pay back its customers to regain cash and reopen withdrawals. According to reports, Celsius has repaid the Compound Finance interest-based DeFi service with $10 million of stablecoin DAI. However, Celsius is not the only crypto company that is under market pressure.
At the time of writing, Celsius price today is $0.709925 USD with a 24-hour trading volume of $11,039,833 USD. Celsius is down 4.19% in the last 24 hours. The current CoinMarketCap ranking is #141, with a live market cap of $169,575,084 USD. It has a circulating supply of 238,863,520 CEL coins and a max. supply of 695,658,160 CEL coins.
By Laetisia H.