The downturn triggered by the bankrupt major crypto lender Celsius (CEL) continues to roll over numerous crypto businesses worldwide, but CEO Alex Mashinsky reportedly aims to revive the business as a custodian.
At a meeting with employees held earlier this month, Mashinsky outlined a plan to rebuild Celsius with a focus on custody services. The CEO and Oren Blonstein, another Celsius executive, said they hoped to encourage prospective customers to store their cryptocurrencies with them, The New York Times reported.
The project, code-named Kelvin after the unit of temperature, has triggered skeptical questions from the employees who were present at the meeting.
In response to this, Mashinsky compared the process to rebuild the firm to corporate turnarounds by some of the globe’s most famous brands, including beverage producer Pepsi which went bankrupt in 1923 and 1931.
“Does it make the Pepsi taste less good?” the CEO asked his employees. “Delta filed for bankruptcy. Do you not fly...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...