Announcements: Celsius Network pt. II
Welcome to Announcements, this time hosted by Lucian, a show that provides you details on current events, upcoming projects in the blockchain space, and token offering details. We are attempting to provide you with details and information from the people who are creating projects, and we are not giving advice. Please do proper due diligence when considering investments.
Today we brought back Alex Mashinsky, the founder and CEO of the Celsius Network. We wanted to follow up on questions that our community on Slack posed. We talk about Decentralized Finance, accountability to one’s customers, and how to onboard the next billion users.
A message from Alex: Celsius launched its services on July 2018 and since, we have done over $600M in coin loans. We used the interest we earned from these coin loans to buy BTC, ETH and other cryptocurrencies to pay interest to our community of Crypto depositors and to buy back CEL tokens. We also funded the industry’s largest single dollar loan of $5,000,000. We charge no origination or closing fees, no penalties, no early termination fees, and no default fees. We have not liquidated or repossessed a single loan since we launched. You can ask the other guys if they can say the same thing about their services.