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Celsius Network CEO Discusses BTC & Why He Got Involved With Crypto Part 1

 
Celsius Network CEO Discusses BTC & Why He Got Involved With Crypto Part 1
Breaking News / Bitcoin
  • Alex Mashinsky recently sat down with CryptoSlate in a new interview.
  • In the interview with Mashinsky, the subject moved onto why he built Celsius, the risks of using crypto lending platforms, the challenges of building an app for crypto users, and why he thinks Bitcoin will not be the winning blockchain.

The Celsius Network CEO Alex Mashinsky recently sat down with CryptoSlate in a new interview. The CEO is a bit time entrepreneur and is also the founder of seven New York-based startups. In fact, he has raised more than $1 billion and exiting over $3 billion.

In the interview with Mashinsky, the subject moved onto why he built Celsius, the risks of using crypto lending platforms, the challenges of building an app for crypto users, and why he thinks Bitcoin will not be the winning blockchain.

To start lets’ look at why Alex got into crypto and when it happened, to which he simply said, “serial founder of 8 NYC based companies, raised over $1B and had $3B in exists including 2 unicorns.”

He continued, explaining as to why he decided to start the firm:

“All roads lead to Decentralization, Celsius was created to enable people to Unbank themselves and deposit their money with someone who is acting in their best interest.”

The network was recently in the news for having surpassed more than $4 billion in crypto loans which is an incredible 93 percent increase from the $2.2 billion at the beginning of 2019.

The topic then moved onto some of Celsius’ notable achievements or milestones:

“Celsius Network created the Interest income category for digital currencies. We pay up to 11% interest on 25 crypto assets by issuing loans and charging interest. We give our depositors 80% of what we make. We did over $4.25B in loans in less than two years and have 56,000 users worldwide.”

Part 2 of this interview will be released later today however, if you wish to head over the CryptoSlate and read the full transcript, click here.

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