Celsius Now Has 1 Million Users
- The company added 200,000 new users since July this year.
- To celebrate the achievement, Celsius will give away 21 million Satoshi to its community.
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Cryptocurrency platform Celsius announced that it has surpassed 1 million users on its platform, reaching a major milestone in its journey to bring 100 million people into crypto. According to a blog post published on 31 August, it took the company less than two months to onboard 200,000 new users, as it recorded 800,000 users in an audit published in July.
To celebrate the new milestone, Celsius will be giving away 21 million Satoshi. Starting from 31 August until 13 September, users will be able to submit photos and videos showing how Celsius impacted their lives. From there, 21 participants will be selected to receive a winning prize of 1 million Satoshi each — equivalent to 0.01 BTC.
The announcement comes just days after Celsius reached another major milestone. On 24 August, the company said it held $20.3 billion in cryptocurrency assets, making it the first among both CeFi and DeFi crypto platforms to break the $20 billion barrier.
Celsius has doubled its total asset holdings in just five months — in March 2021, an audit confirmed it held $10 billion in assets. The company believes its asset growth trajectory is set to continue and it expects to add close to $1 billion per month in new assets in the following months.
- The bankrupt crypto lender said that if its reorganization plan is approved, it is ready to start repaying its customers using $2 billion in BTC and ETH by the end of the year.
- If given the green light, Celsius will restart its business under the “NewCo” brand without any funded debt, and with seed funding of up to $450 million.
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- The bankrupt crypto lender has agreed on a settlement with its Series B holders on how to distribute the $25 million from the sale of self-custody platform GK8.
- The majority of funds, $24 million, will be allocated for legal expenses, while the remaining $1 million will be distributed between the Series B holders.
- The U.S. SEC, CFTC, and FTC have all filed separate lawsuits against bankrupt crypto lender Celsius and its former CEO Alex Mashinsky, charging them with multiple counts of fraud.
- Mashinsky was also arrested in New York on Thursday, and later charged by the Department of Justice with securities fraud, commodities fraud, and wire fraud.