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The founder of Celsius Network gives his wife 15 million CEL tokens

October 28, 2020

The founder of the Crypto Payment Network Celsius gave his wife a large part of the token supply, Reduce their enormous involvement in the process.

The CEO of Celsius, Alex Mashinsky, gave his wife Krissy 15 million CEL tokens as a birthday present valued at an estimated $ 20 million at current price.

The move changed the balance of the list of top CEL token holdersas observed by the Twitter user ‘Kevin – HODL‘(@Crypto_Flippin). Mashinsky is still at the top but now his wife would be the third largest token holder on the list.

The founder of Celsius Network gives his wife 15 million CEL tokens
The founder of Celsius Network gives his wife 15 million CEL tokens

The community has been considering the token swap, and a Twitter user named “bitcoin_giraffe” has explained so he claimed::

“What worries me most is the amount it has. It gives a whole new definition to the whale. “

Moving seems a little unusual, like under the Marriage Act (unless there is a marriage agreement) She is entitled to half of Mashinsky’s fortune anyway. Krissy Machinsky runs a company called USA strong What uses blockchain to ensure that products purportedly made in the US are actually made.

Celsius, who completed a successful $ 50 million coin offering in March 2018, is a centralized crypto lending platform with a mobile application that allows users to earn interest in stable coins and a range of cryptocurrencies.

The platform lends out loans from a range of customers and issues loans backed by crypto collateral to institutional customers while capturing the interest rate differential. 80% of the generated returns are paid to members and the community, 20% to Celsius.

These are essentially DeFi-style loans that are regulatory compliance and CEO Mashinsky in control.

In June 2020, Celsius completed a crypto community fundraiser for $ 20 million. Mashinsky did not inform private shareholders about the gift. According to the official website, processed more than $ 8.2 billion in loanshas over 200,000 active users and nearly $ 1.6 billion in community assets.

CEL token prices have done well lately, hitting an all-time high of $ 1.38 on October Coingecko. Since the start of the year, CEL tokens have risen 880% to their current price of $ 1.33. There are currently 361 million tokens in circulation out of a total of 695 million.