As Cred Crumbles, Celsius Reports Topping $2.2 Billion in AUM

Celsius, a “cryptocurrency rewards-earning platform,” says it has surpassed over $2.2 billion worth of assets under management (AUM). Celsius says it topped $1 billion in total AUM earlier this year and ths has doubled its net cryptoasset holdings in just six months.

Celsius has shared the following metrics:

  • Over 215,000 active users worldwide
  • Over $80 million in crypto rewards distributed to the Celsius community
  • Cel token is up over 4,529% in the past year
    Celsius Balance sheet (excluding AUM) which includes cash and CEL tokens is now over $680 million

Alex Mashinsky, CEO of Celsius, said that, as they predicted, interest income is the new killer app in the crypto sector:

“We created the concept of earning yield on your digital assets in kind or with a native token and launched the DeFi revolution. Since then we have created more income for our customers than any one else in DeFi or CeFi, and we have no plans on slowing down any time soon.”

The Celsius report comes on the heels of Cred, another crypto asset lender, filing for bankruptcy following indications of nefarious activities on the crypto lending platform.

Celsius says its customers can earn rewards on their crypto at rates up to 15% APY on over 40 cryptocurrencies paid out weekly – a pretty steep return in the current low rate environment.

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