Alex Mashinsky on fees
From Alex Mashinsky, the CEO of Celsius Network | Blockchain interviews · · InvestmentPitch Media
“celsius has no fees when we pay you uh 10 on stable coin this is after all fees uh uh and when you're doing your own defy and you think you're earning 11 percent if you put the gas fees and the unit swap fee and and the withdrawal fee and this fee and that fee uh that might be half of what you're earning right also at celsius uh it's all long-term uh capital gains because if you keep it for more than a year you just get a 1099 from us and you can report most of it as capital long-term capital gains when you trade on these platform default platform each transaction is counted as short-term capital gains.”
On , Alex Mashinsky, Former CEO at Celsius Network, spoke about fees during Alex Mashinsky, the CEO of Celsius Network | Blockchain interviews on InvestmentPitch Media.
About Alex Mashinsky
In a March 2019 town hall for Celsius Network, Alex Mashinsky criticized traditional banks for offering low deposit rates while charging high interest on loans, stating that "your bank takes your deposit, right? Gives you less than 1%, gives you an IOU and lends it to her and charges her 25% of her credit card and keeps 24% to themselves." He also highlighted what he described as economic inequality, saying "there was never in the history of mankind bigger disparity between the rich and the poor" and that he was "shocked that there are no guillotines on the street." Mashinsky noted that Celsius Network's token would only become valuable "if the whole community is creating value inside the community," and mentioned that the company had "at least 50 hedge funds that use us to reduce their tax exposure to defer their taxes."