Alex Mashinsky on decentralized finance
From Alex Mashinsky, the CEO of Celsius Network | Blockchain interviews · · InvestmentPitch Media
“the big difference again between celsius and pure d phi like compound and ave is that those are only living on ethereum so they can only deploy in the ethereum blockchain and at the same time celsius basically operates celsius has many many different ways of earning yield the institutional lending exchange lending to exchanges uh we operate on the binance smart chain we operate on other chains besides ethereum and we also have a mining and a retail lending business so we have a much more broad uh source of income for bitcoin or ethereum or litecoin or any other coin right where pure d5 can only operate on a very specific set of acid in a very specific blockchain.”
On , Alex Mashinsky, Former CEO at Celsius Network, spoke about decentralized finance 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."