Share this article
BTC
$76,547.24
-
1.90%ETH
$1,461.25
-
5.37%USDT
$0.9991
-
0.04%XRP
$1.8221
-
3.75%BNB
$552.61
-
0.07%USDC
$1.0000
+
0.01%SOL
$104.35
-
1.10%TRX
$0.2310
+
1.46%DOGE
$0.1431
-
2.20%ADA
$0.5648
-
1.96%LEO
$8.9965
+
0.81%TON
$2.9745
-
2.05%LINK
$10.94
-
3.30%XLM
$0.2222
-
3.84%AVAX
$16.16
-
2.86%SUI
$1.9789
-
1.56%SHIB
$0.0₄1071
-
4.99%HBAR
$0.1485
+
0.58%OM
$6.1683
-
1.74%BCH
$271.20
-
2.07%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
Celsius CEO Mulls Crypto Custody Pivot After Lending Business Imploded: Report
Celsius CEO Alex Mashinsky recently proposed revamping the failed crypto lending business as a digital asset custody firm, according to a New York Times report.
Celsius CEO Alex Mashinsky recently proposed revamping the failed crypto lending business as a digital asset custody firm, according to a New York Times report.
Celsius is one of a handful of crypto companies to file for bankruptcy protection in recent months after falling victim to the market crash and imploding counterparties. It’s still working through how to make depositors – who bet on Celsius’ high yields and lost – whole.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Pivoting to custody would give Celsius a new revenue stream by collecting fees from depositors, according to the New York Times, which said employees were skeptical of Mashinsky’s “Kelvin '' codenamed plan when he pitched it on Sept. 8.
Whether any depositors would show up is another matter.
Danny Nelson
Danny is CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
