Former CEO of Celsius Network Sells 90,000 CELs and Transfers them to Coinbase
It is reported that according to Paidun monitoring, Alex Mashinsky, the former CEO of the encryption and lending platform Celsius Network, has sold 90000 CELs …
It is reported that according to Paidun monitoring, Alex Mashinsky, the former CEO of the encryption and lending platform Celsius Network, has sold 90000 CELs with 480000 USDCs in the past four days and transferred them to Coinbase (about $474700).
The wallet address of the former CEO of Celsius sold 90000 CELs with 480000 USDCs in the past four days and transferred to Coinbase
Interpretation of the news:
In recent news, it has been reported that Alex Mashinsky, the former CEO of Celsius Network, has sold 90,000 CELs (Celsius Network’s native cryptocurrency) and transferred them to Coinbase. The transaction was made over four days and amounted to approximately $474,700 in USDCs (a stablecoin that is pegged to the US dollar). This news has raised eyebrows in the cryptocurrency community as Mashinsky’s actions are being scrutinized and interpreted in different ways.
One possible interpretation of Mashinsky’s decision to sell his CELs and transfer them to Coinbase could be that he is simply taking advantage of the current market conditions to cash out some of his holdings. The rise of cryptocurrencies has created numerous millionaires and billionaires and it could be that Mashinsky is looking to liquidate some of his assets to diversify his portfolio. However, this interpretation raises questions about why he chose to sell CELs specifically and why he transferred them to Coinbase instead of holding onto them.
Another possible interpretation is that Mashinsky’s move signals a lack of confidence in Celsius Network’s future prospects. Celsius Network operates as a peer-to-peer lending platform that allows users to earn interest on their cryptocurrency holdings. It has gained a considerable following, but some critics have raised concerns about the sustainability of its business model. Therefore, if Mashinsky shares these doubts about the viability of Celsius Network, he may have decided to sell his CELs and move on to other ventures.
It is also worth noting that Mashinsky’s decision to transfer his CELs to Coinbase could be seen as a strategic move to gain access to a wider range of cryptocurrency trading opportunities. Coinbase is one of the largest and most popular cryptocurrency exchanges in the world, offering users access to a wide variety of cryptocurrencies and trading pairs. By moving his holdings to Coinbase, Mashinsky could be looking to take advantage of the liquidity and volume of the exchange to facilitate future trades and investments.
In conclusion, the news of Alex Mashinsky selling his CELs and transferring them to Coinbase raises interesting questions about his intentions and the future of Celsius Network. It remains to be seen what the ramifications of this move will be, but it is certainly something to keep an eye on in the coming weeks and months.
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/273/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
Art Blocks and Bright Moments team up for exclusive NFT project with real-life activation
It is reported that Art Blocks, an NFT company, and Bright Moments, an NFT gallery are creating a unique project to link NFT with the real life and personal ex…
-
USDC-USD Trading Pair and Its Impact on Aave and Compound
It is reported that according to Kaiko’s research data, the trading volume of USDC-USD trading pair hit a record high of US $600 million on March 11, with Kraken as the main trading partner. In addition, Aave and Compound received more than US $2 billion in repayment on March 11, most of which were USDC. Kaiko: The market depth of Coinbase in March halved, and the currency security fell by 13% Analysis based on this information:The trading volume of USDC-USD trading pair had a significant increase on March 11, reaching a record high of US $600 million according to Kaiko’s research data. This increase in trading volume was primarily due to Kraken being the main trading partner. USDC is a stablecoin pegged to the US dollar, which means one USDC is equivalent to one USD, making it less volatile than other cryptocurrencies. Furthermore, Aave and Compound received more than US $2 billion in repayment on March 11, and most of…
-
Bitlinex Launching a New Cryptocurrency: Blur (BLUR)
On February 24, according to the official announcement, Bitlinex announced the launch of Blur (BLUR), the deposit will be opened at 11:00 (UTC) on February 23,…
-
Dormant Wallet Suddenly Transfers $16 Million Worth of Ether
It is reported that the monitoring data of Lookonchain shows that a wallet address that has been dormant for more than five years has transferred 10266 ETHs (w…
-
New York State Cryptocurrency Companies Required to Pay Assessment Fees
According to reports, according to a provision in the New York 2023 fiscal year budget, the New York State Department of Financial Services has passed a new law requiring cryptocur
-
The Shanghai Upgrade: What It Means for Ethereum
On April 12th, according to the Tokenview browser page, there are still 16 hours left before the Shanghai upgrade. The Shanghai upgrade plan will be launched on the Ethereum networ
-
The Massive Cryptocurrency Heist Carried Out by North Korean Hackers
According to reports, the Federal Bureau of Investigation has accused hackers associated with the North Korean government of stealing $100 million in cryptocurrency from a Californ
-
Federal Reserve Interest Rate Update: Possibility of Rate Increase
According to reports, according to CME\’s \”Federal Reserve Observation\”, the probability of the Federal Reserve maintaining interest rates unchanged in May is 16.1%, and the probabi
-
Crypto.com Obtains Preliminary License to Operate in Dubai
On March 20th, according to the official blog, Crypto.com announced that it had obtained a MVP preliminary license from the Dubai Virtual Assets Regulatory Authority (VARA). The MVP phase of the preparatory phase allows approved licensees to meet all the prerequisites necessary to conduct MVP market operations within the VARA system. Crypto.com obtained MVP preliminary license from Dubai Virtual Assets Regulatory Authority Analysis based on this information:Crypto.com, a Hong Kong-based cryptocurrency platform, has recently announced that it has been granted a preliminary license by the Dubai Virtual Assets Regulatory Authority (VARA). The license enables the company to operate its MVP (Minimum Viable Product) within the VARA system, following completion of all the necessary prerequisites. This announcement is significant for several reasons. Firstly, it represents a key development in the growing acceptance and regulation of cryptocurrency in the Middle East. Dubai has been at the forefront of several initiatives aimed at promoting blockchain and digital currencies, and this license represents a…
-
Japanese Companies Collaborate to Build a Metauniverse Economic Zone
It is reported that a group of large Japanese companies, including Mitsubishi, Fujitsu and Mizuho, a banking giant, agreed to work together to create a \”metaun…
-
Bored Ape Yacht Club (#5647): A Crypto Collectible Investment
According to reports, data shows that Bored Ape Yacht Club # 5647 was closed at a price of 147ETH. BAYC # 5647 closed at 147ETH Analysis based on this information:The digital assets market has been evolving rapidly, and one of the latest entrants is the crypto collectibles. Crypto collectibles are unique digital assets that can be bought, sold, or traded, just like traditional collectibles. The Bored Ape Yacht Club (#5647) is one such crypto collectible that has gained immense popularity in recent months. According to reports, the Bored Ape Yacht Club (#5647) was closed at a price of 147ETH, which is equivalent to approximately $400,000, based on the current conversion rate. This transaction is a testament to the growing popularity of crypto collectibles and the huge demand from investors looking for alternative investment opportunities. The Bored Ape Yacht Club (#5647) is a part of a larger series of 10,000 unique digital apes, each with its distinct look and personality traits….
-
YieldTrust AI Transaction Robot: An Alleged Ponzi Scheme In The U.S.
On April 5, it was reported that the regulatory authorities of Alabama, Montana and Texas in the United States had issued a statement prohibiting the AI transaction robot YieldTrus
-
The Future of Layer1 Blockchains: Emin Gün Sirer Predicts Elimination of Many Players
According to reports, Emin G ü n Sirer, founder and CEO of Ava Labs, said in an interview that in recent years, many Layer1 blockchains have emerged in the crypto ecosystem, but wi
-
Ripple’s Massive XRP Purchase: A Concern for Investors or a Positive Sign for the Company?
According to reports, data shows that Ripple has purchased nearly $11 billion worth of XRP since being sued by the US Securities and Exchange Commission (SEC). According to the com
-
What does the term “mining machine hashrate” mean (mining hashrate machine)?
What does the term \”mining machine hashrate\” mean? According to official source
-
The decentralized derivative agreement ZKX has been launched on the public testing network
On April 1st, the decentralized derivative agreement ZKX announced that it has now launched the StarkNet public testing network, which has more than 40 tasks. Users can participate