Milestone: Celsius Network Surpasses $5.3 Billion in Assets; Grows Total Assets 10x During 2020

Celsius Network, a cryptocurrency lending and borrowing platform, announced on Wednesday it now holds more than $5.3 billion worth of cryptocurrency assets. This news comes just a couple of months after Chainalysis was able to validate over $3.3b in total assets held by Celsius

Celsius reported it is continuing to be one of the fastest-growing crypto platforms. Since the Chainalysis confirmation this past November, Celsius has gained over 125,000 new users totaling over 340,000 active users worldwide. The platform further revealed that has it gears up for another year of growth, other milestones it has achieved include the following:

  • Over 340,000 active users worldwide
  • Over $200 million in crypto rewards distributed to the Celsius community
  • Over 52% of Celsius members choosing to earn weekly rewards in CEL token
  • Over 55,000 BTC held under management
  • 45 different tokens and coins supported and earning yield

Speaking about the milestone,  Alex Mashinsky, CEO of Celsius, stated:

“As we see record numbers of institutions and retail users entering the space, they are looking for a store of value and yield to protect their assets from the debasement of the US Dollar. The record number of new dollars being printed by the FED is making the savviest investors in the world allocate assets to Bitcoin.”

Mashinsky then noted that Celsius results represent the growing need of savers to diversification and the lack of trust and transparency between financial institutions and the community.

“We have seen time and time again that customers choose Celsius for yield and loans because they trust us, and our goal is to always act in their best interests and consistently deliver industry-leading transparency.”

Founded in 2017, Celsius addresses the financial needs of today’s consumers worldwide through a democratized interest income and lending platform accessible through a mobile app.

“Built on the belief that financial services should only do what is in the best interests of the community, Celsius is a modern platform where membership provides access to curated financial services that are not available through traditional financial institutions.”

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