There must be many users who are in a position of leverage and desperately need those now-locked Celsius funds. I’m sad that we got here. Protect yourselves. — Ledger 🇺🇸 Prometheus of the Plebs (@ledgerstatus) June 13, 2022
Crypto lenders are facing increased scrutiny following the collapse of Terraform Labs’ Luna and its sister token UST last month. Alex Mashinsky, CEO of Celsius Network, has been trying to reassure clients in recent weeks, saying they can withdraw their assets at any time, and questioned skeptics. The firm also recently launched a recurring promotion, offering clients rewards if they transfer assets to Celsius accounts and help positions for up to 180 days. But Celsius has also dealt with high sell-offs in recent months. The lender says on its website that it has about $3.8 billion in assets, up from $24 billion it disclosed at the end of December 2021. “The beauty of what Celsius managed to do is that we deliver performance, you get it. we pay people who will never be able to do it themselves, we take it from the rich and beat the index. That’s like going to the Olympics and getting 15 medals in 15 different fields,” Mashinsky said in a video broadcast in December.