In a closed-door meeting, Celsius’ CEO reportedly called this new crypto banking project ‘Kelvin’ that promised to turn the platform into a crypto custody firm.
to its users after it closed the doors on accounts. Celsius once offered outlandish interest rates as high as 18% and boasted of its over 1 million customers.by past partners, Mashinsky reportedly compared themselves to brands like Delta Airlines and Pepsi, both of which went bankrupt at one point of their lifespans.“We have an opportunity now to reorganize,” the CEO reportedly told gathered employees.
Employees seem skeptical, according to the recording transcript. One employee asked why they were going this route when their previous business was centered on telling customers there were no transaction fees. Mashinsky responded that they were always planning to institute transaction fees, but they simply never had the chance.
Still, even this new idea for a company revival isn’t going to happen all at once. Mashinsky said they “should all be ready for a long winter,” but that they’re in a safe place with their Chapter 11 bankruptcy filing. The company has promised it is working on ways to
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