Celsius becomes first CeFi or DeFi platform to cross $20B AUM
In March, research from Alpha Sigma Capital suggested that the platform would reach $30 billion in assets under management by the end of 2025. Crypto lending platform Celsius Network has reported it holds more than $20 billion in digital assets, making the company one of the largest in decentralized finance.In a Tuesday announcement, Celsius said its holdings had grown more than 1,900% in less than a year, from $1 billion in June 2020 to $20.3 billion as of Aug. 13. The company conducted an internal audit using technology provided by analytics firm Chainalysis, also determining it was....
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QUICK price gained 50% shortly after a partnership with CelsiusX proves that the platform is serious about bridging the gap between DeFi and CeFi. Decentralized finance (DeFi) and the control it gives users over their assets is one of the most applicable sectors of the cryptocurrency ecosystem, but the general public is still hesitant to interact with most DeFi products due to the steep learning curve and the possibility of losing funds.One decentralized exchange (DEX) that is taking strides toward bridging the gap between DeFi and centralized finance (CeFi) is QuickSwap (QUICK), the top....
Celsius has been positioned as one of the leading yield-generating CeFi platforms on the market, battling neck-and-neck with other dedicated CeFi platforms such as BlockFi and Nexo. Their positioning is seemingly weakened this week, certainly with retail investors, as the platform sent out an announcement to all users and released a public announcement that new funds supplied – even from existing accounts – into Celsius’ platform would no longer be eligible to earn yield unless they are accredited investors. Let’s look at what we know from today’s release, and....
Nothing supersedes personal experience. At least that seems to be the case with a new JPMorgan Chase hire this week, as the financial firm has brought in former Celsius executive Adam Iovine to serve as a director of digital assets regulatory policy, according to a variety of reports on Wednesday, which cite Iovine’s LinkedIn page. The reports come after headlines around JPMorgan’s CEO Jamie Dimon slamming crypto as ponzi schemes. Nonetheless, the institution has flip-flopped it’s public perspective around crypto while still building digital asset infrastructure.....
Centralized crypto lending platform Celsius claims to have doubled its crypto holdings in just six months and now boasts $2.2 billion in assets under management. Crypto lending and borrowing platform Celsius has announced that it now holds more than $2.2 billion in digital assets under management (AUM).According to a Nov. 9 release, Celsius has more than doubled its net crypto holdings six months after first surpassing $1 billion in June. The platform has attracted more than 215,000 total users worldwide in total.Excluding its AUM, Celsius’s balance sheet now includes cash and its native....
Data indicates DeFi could take a huge bite out of CeFi when it comes to the ether cryptocurrency.