Celsius Wins ‘Best Crypto Wallet’ Award
- FinTech Breakthrough said that the Celsius wallet was a true example of breakthrough technology.
- The company’s approach to crypto has landed it half a million customers.
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In a press release published on 5 April, Celsius said that winning the “Best Cryptocurrency Wallet” award in the fifth annual FinTech Breakthrough Awards program was a strong testament to the hard work and innovative thinking from the Celsius team. Alex Mashinsky, the CEO of Celsius, said the company’s novel approach to payments and lending has led to it having over 500,000 customers.
James Johnson, the managing director of FinTech Breakthrough, said that Celsius provides people with better opportunities to gain financial freedom. The company’s 2021 awards program attracted more than 3,850 nominations, putting Celsius at the forefront of the crypto industry.
“We are thrilled to recognize Celsius for their success and momentum in this mission, serving as a true example of breakthrough technology in the FinTech space,” Johnson said in the release.
According to a March audit, Celsius has over $10 billion worth of cryptocurrency assets under management. The company more than tripled its amount of total assets in less than 100 days and doubled the number of users on the platform. Celsius also recently enabled its users to purchase cryptocurrencies inside its app using Apple Pay, making cryptocurrency services available to an even wider range of customers.
- 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.