Celsius’ CEO says he wants to restructure the company around crypto custody.
Crypto lending platform Celsius, currently in the middle of bankruptcy proceedings, reportedly plans to rebuild around crypto custody services.
According to a Tuesday report from the New York Times, Celsius CEO Alex Mashinsky and head of innovation and chief compliance officer Oren Blonsteinto revive the company using a project named Kelvin — storing users’ crypto and charging fees on certain transactions. Mashinsky reportedly made the announcement at a Sept.
“If the foundation of our business is custody, and our customers are electing to do things like stake somewhere or swap one asset for the other, or take a loan against an asset as collateral, we should have the ability to charge a commission,” Blonstein reportedly said to Celsius employees.
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