July 23rd, 2018 · Alex · Updates

7/23/2018 Update from CEO Alex Mashinsky

Hi everyone-

In case you missed it, please watch my AMA with our good friend (and massive NASCAR fan) Crypto Crow.

Our private beta continues to ramp up and we’ve taken in some more deposits over the past few weeks from both private depositors and from ICOs like our new partner AdBank. We’ve also signed $6 million dollars in loans.

I’m sure everyone’s interested to know how things are going with our ongoing buy back of CEL tokens. So far, we’ve bought over 1,417,000 CEL tokens, which are no longer on the market.

We put together this graphic to help explain where the demand for CEL tokens comes from and how that affects demand:

When exchange?

As I discussed last week with Crypto Crow. The exchanges are making tons of money off the backs of both the ICOs trying to list and the users buying coins off their sites. We chose a different route selecting to partner with smaller exchanges who need our services and willing to provide us a free listing, we’re still in close discussions with quite a few exchanges that won’t be trying to charge us millions of dollars to list with them and who also want to partner with us in order to offering our suite of products to their users.

When partners?

Last week I announced the first two of many partnerships to come.

The first partnership, I want to talk about is with the Stellar network. We’re working closely, with Lightyear, Stellar’s commercial arm (think Redhat to Linux, or Consensys to Ethereum) to help all of the ICOs using Stellar’s blockchain technology either get loans against their crypto or to deposit it with us in order to earn interest in CEL tokens.

The second one, with AdBank, involves them depositing coins with us in order to earn interest while we’ll be utilizing their ad network in order to target the crypto community as effectively as possible.

When v1.1?

Version 1.1 rolled out in the past week with lots of little bug fixes and tweaks that were left over from the major release of version 1.0. Now that CEL tokens are officially integrated with BitGo, we’re working to add CEL to our wallet and this should be live soon (Keith will provide more updates next week).

When meet?

I’ll be at the Blockchain Society Conference this Wednesday, if you’re in Toronto for the event, please come say hello. I’ll be doing a keynote in the morning. Also, come see me speak at Crypto Hedge Fund Summit 2018 in NYC next Friday, July 27. Use code CELSIUS20 for 20% discount.

Have a great week everyone.

 

 

 

 

-Alex