CeFi Platform Celsius Restricts Yield Rewards To Only Accredited Investors In...
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....
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With the recent crypto market decline, investors have become more fearful of the market. Recorded on the Fear & Greed Index, it shows that this remains an incredibly frightening time for users of cryptocurrencies. In times like these when the prices of digital assets continue to slide down, it is expected that investors become warier. However, this time around, the market had quickly gone into “Extreme Fear” territory with no sign of emerging anytime soon. Scared Of Investing? At the start of the month, top cryptocurrencies such as Bitcoin and Ethereum had begun a recovery trend that would....
Only “verified accredited investors” in the United States will be able to add coins to their Earn accounts starting on April 15 while users outside the country will be unaffected. Crypto lending firm Celsius Network has announced it will be launching a custody solution for users based in the United States in response to discussions with local regulators.In a Monday announcement, Celsius said its Earn product, which allows users to earn interest on crypto, would be unavailable to U.S. residents making transfers starting on Friday. According to the firm, any coins transferred to....
Accredited investor laws are the bane of many in the crypto industry, who see them as preventing small investors from accessing big opportunities. When Celsius was recently forced to cut off access to U.S. citizens who were not accredited investors, many cried foul.Did it help some users avoid the current crisis? Or do accredited investor laws go too far in saving users from themselves and from profits, too? Two weeks ago, as speculation about Celsius solvency began to mount, users started experiencing trouble withdrawing money from their accounts. Though Celsius CEO and founder Alex....
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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....