Depositors

Standing in a spacious, white living room and sporting a black T-shirt, Alex Mashinsky, CEO and co-founder of cryptocurrency lender Celsius Network, urged his customers to ignore the naysayers. “Don’t listen to the FUD-ers, look at the facts,” Mashinsky said on the YouTube livestream on July 17, using crypto slang for “fear, uncertainty and doubt.” A few minutes later, he reassured the audience of “Celsians,” as the platform’s users are nicknamed, that the company is prudently deploying their crypto deposits.  Like a bank, Celsius borrows from one set of clients, lends to other customers and pockets the difference in interest. Unlike […]