No, stablecoins on USD, AUD, GBP, HKD are returning 14% this week and were at 16% recently. It varies since the start of Celsius but has a ceiling locked positive as a guarantee. Because it’s a profitable business that does not speculate but generates revenues by making clients pay
Then you take a hedge position on futures or OANDA (worse) at 1.25% per annum and you achieve an interest bearing account on EUR as the difference
Celsius generates revenues by making traders of the industry (institutional ones with guarantees that are verified) pay to use leverage. It’s equivalent to the duty of a stock brokerage with an underlying that was not aimed to be shorted or margined in the first place, except that usually, it’s your broker which keeps the benefits, while Celsius redistributes 80% of them by short-circuiting the traditional scheme. It is finance uberified towards the users instead of the banks.
It’s too late to have serious risk. Celsius now is worth $900 million, soon a billion market cap!
and maintain an insurance fund to cover any losses of margin calls (they don’t propose themselves any leverage, only fully collaterised loans under-leveraged by 2 to 4 folds) that has now skyrocketed drastically
The CEO of Celsius is a venture capitalist who has built a dozen of successful corporates (and exited with multi-billions), that are used daily by the masses on the internet but also IRL (WiFi of the New York subway, for instance). He patended VOIP many years ago
Now he settled himself to kill the banks and make the people and his kids profit
He is not your average clown but a visionary. Always simplistic projects but very understandable by the public, unlike you know who...