They have jobs, they have families, they have lives. “Our focus is ordinary people who don’t have time to trade all day.
We charge fees to institutions, like Robin Hood.”Ĭelsius does this reverse of fortunes within the system and the people it wishes to serve are the ordinary folk. We are the opposite of Wall Street – where insiders get to call retail investors the plankton because they feed on them. That’s what we set up to change in Celsius. For most unaccredited investors you cannot participate in different investments, and you are excluded from value creation. Indeed in this zero/negative interest climate, their money is devalued on top of which they get charged all sorts of bank and credit card fees. As he points out, people work hard, get paid a salary, lose half it in taxes, and then people can’t earn any interest on their remaining money. Right now the banking system is particularly broken.
“There was a recent survey where people said they’d rather visit the dentist than go sit with their bankers. “I’m not alone in this opinion,” he says. The result is a Celsius Network, a crypto platform that has grown 20x in one year.Ĭoupled with his interest in crypto was a singular dislike of how the banking system served its customers, or rather it didn’t. It wasn’t until he understood it solved the issue of the digital double spend, that he got interested and when Mashinsky gets interested, he moves fast.
CELSIUS ALEX MASHINSKY SERIAL
Alex Mashinsky, the serial US entrepreneur well known for installing broadband on the US subway, once famously declared Bitcoin the slowest database on the planet.
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