Alex Mashinsky #64

CEO of Celsius Network

Alex Mashinsky & CEO of Celsius Network & background` Alex Mashinsky & CEO of Celsius Network & poster`
Alex Mashinsky & CEO of Celsius Network
Category Founder
person-quote
If there’s a lot of volatility because inflation is out of control [and goes into] the double digits then gold and Bitcoin are going to become safe assets.

Biography:

Alex Mashinsky is an American entrepreneur who has launched several tech companies. In 1996, he established Arbinet as a commodity exchange on which telecom firms could trade unused long-distance minutes. VoiceSmart, Mashinsky’s other company, was one of the first to offer telecoms switches that could handle call routing for both ordinary voice and Voice over Internet Protocol networks. 

Mashinsky developed GroundLink in 2004 as a business enabling users to schedule on-demand limousine and automobile services from their computer or smartphone. He also founded Q-Wireless, which was ultimately acquired by Transit Wireless. Mashinsky was the CEO of Novatel from 2014 to 2015 and is presently the CEO of Celsius Network, an Ethereum-based lending platform that uses blockchain technology to function.

Mashinsky’s 2021:

Mahinsky purchased another $10 million in Bitcoin and Ether in November, stating that Bitcoin’s price is not driven by technological advancement, but is based on the amount of trust placed on it by the community. 

There were some bumps throughout the year for Mashinsky and his firm. The Texas State Securities Board requested a hearing in September, with the possibility of issuing a cease and desist order against Celsius Network for failing to offer securities licensed at the state or federal level. Similarly, the New Jersey Bureau of Securities ordered the platform to cease offering and selling interest-earning cryptocurrency products.

Celsius explained in October that it was not one of the two undisclosed crypto loan platforms that New York Attorney General Letitia James had ordered to “stop any and all such conduct,” including the sale or supply of cryptocurrencies. Celsius also stated that it was working on submitting information about its operations to regulators in New York. 

During an interview for the YouTube channel Cryptonites in December, Mashinsky discussed his Bitcoin price prediction and why the “hodl and rebalance” approach is the ideal way to play the turbulent crypto market. “In terms of adoption, we’re moving ahead of schedule,” he further added. Unfortunately, Celsius lost more than $50 million that same month to a crypto heist of the DeFi protocol BadgerDAO.

Over the year, Celsius partnered with some of the industry’s biggest names to offer interest income services, including Bitfinex, Bitwalla, Mode, Voyager, Monarch and many other crypto wallets and exchanges, as well as Line, a popular Japanese messaging service with over 680 million global users.

Mahinsky’s 2022:

In a Kitco News interview, Mashinsky claimed that as the money supply expands and fiat debasement accelerates, fiscal and monetary policies in the United States will boost Bitcoin and gold in 2022. He further mentioned that Bitcoin might reach a new high of over $140,000 on April 15, 2022. Additionally, he indicated that the new price might reach $160,000, attracting a selling environment as investors seek to cash in.

On the other hand, he anticipated that selling pressure would cause a decrease in the second quarter of the following year, leading to a correction that may end at $80,000. The Federal Reserve Bank’s efforts to combat inflation and wind down asset purchases, according to Mashinsky, may cause Bitcoin and gold to decline first before recovering.

Ultimately, in 2022, Mashinsky is expected to be as proactive and optimistic as his Bitcoin price predictions. Under his leadership, it’s reasonable to assume that Celsius will continue to expand its offerings through partnerships and new products, although compliance could potentially turn into a bit of a headache.