A report from The New York Times says that Celsius CEO Alex Mashinsky recently suggested turning the failed crypto lending business into a digital asset custody firm.
A report from The New York Times says that Celsius CEO Alex Mashinsky recently suggested turning the failed crypto lending business into a digital asset custody firm.
Celsius is one of a small number of crypto companies that have gone bankrupt in the past few months due to the market crash and the collapse of their counterparties. It’s still figuring out how to pay back depositors who lost money betting on Celsius’s high yields.
Changing to custody would give Celsius a new way to make money by charging fees to depositors, according to the New York Times, which also reported that employees were skeptical of Mashinsky’s “Kelvin” plan when he told them about it on September 8.
Not sure if anyone would come to make a deposit.
