In fact, Initialized Capital has invested $2.1 million in a newly emergent cryptocurrency trading platform, DDEX.
Recently, the entrepreneur has been showing interest in the world of cryptocurrency. Due to his success in tech and investment, Ohanian was named a Forbes 30 Under 30 twice. Initialized Capital, a venture capital firm, has over $230 million under management. Today, he is a member of Reddit’s board of directors. In 2015, Ohanian returned as an executive chair of Reddit. Ohanian and co-founder Steve Huffman sold Reddit to Conde Nast in 2006. He is also the co-founder of Initialized Capital and bestselling author of Without Their Permission. Twitter: Ohanian is the co-founder of Reddit and a widely recognized tech giant. Data published on Celsius’ official website reveals that the platform has processed over $8.2 billion in loans and has nearly $1.6 billion in community assets.The founder of Reddit has moved on to a cryptocurrency trading platform. The interest received from these loans is distributed among Celsius members and the community (80%) and Celsius (20%). Celsius’ main customers are institutional clients that seek crypto collateral-backed loans. Celsius Network completed another fundraiser in June 2020 through which it received more than $20 million in equity.Īccording to Mashinsky, they are one of the few platforms in the business that manages to turn in a profit despite offering high returns to lenders. Today, the lending and borrowing platform, that offers users competitive interest on their stablecoin and cryptocurrency balances, has already more than 200,000 active users. Mashinsky founded Celsius Network in 2018, when the company also completed an ICO, raising around $50 million for the development of a centralized crypto credit platform. In addition, CEL is up by 773% YTD, which represents the largest price increase in this timeframe among top 50 cryptocurrencies by market cap.Ĭelsius has processed over $8.2 billion in loans It is worth mentioning that Celsius’ native token recently (October 10) set its all-time high of $1.38. There are currently 361 million tokens in the circulation, with total supply capped at 695 million. If the price of CEL token and the popularity of the Celsius Network continue growing, the dollar-denominated value of Mashinsky’s share will likely further increase. It puts a whole new definition to whale.” “What concerns me more is the amount that he has. Even after giving 15,000,000 CEL to his wife, he still dominates the list with over 50 million CEL, worth more than $66 million. Whether you think the $20 million gift is sweet or suspicious, one thing is clear - the transaction has shined a light at the size of Mashinsky’s total CEL stake. Mashinsky has more than $66 million in CEL alone Krissy Mashinsky runs a company called USA Strong, where they utilize blockchain technology to prove that the origin of products claiming to be made in America is really American. Furthermore, Mashinsky forgot to inform private equity holders about the gift. The only way Krissy would not be entitled to 50% of her husband’s CEL tokens is if the couple has signed a prenuptial agreement.
In addition, some observers have labeled the birthday transaction as very unusual, since under marital law Krissy Mashinsky is entitled to half of Mashinsky’s assets anyway. Where did the remaining 2 million CEL tokens go? However, Mashinsky’s wife ‘only’ holds 13,000,101 CEL, worth a bit under $17 million at the time of writing. The ranking of top CEL holders already shows Krissy Mashinsky at the fourth place, right behind Celsius founder “The Machine”, The Politician, and an anonymous “User 3”. Krissy Mashinsky becomes the fourth largest CEL holder The gift, worth almost $20 million sparked ambivalent responses from the public, but most of all, it put into perspective just how big of a cryptocurrency whale Mashinsky is. I love you Krissy and could not have done without you. She has been with me through it all and ALWAYS supported me even when I made silly mistakes. I gave my wife a very special present of 15,000,000 CEL tokens for her very special birthday. Mashinsky responded on Twitter, saying that the CEL tokens were a gift for his wife’s birthday: Whale observers recently noticed that Celsius founder and CEO Alex Mashinsky reduced his stake in by 15,000,000 CEL tokens. CEL recently hit its new all-time high of $1.38 on October 10.Mashinsky’s wife is currently the fourth largest CEL holder.Alex Mashinsky, founder and CEO of cryptocurrency borrowing and lending platform Celsius gifted his wife almost $20 million worth of CEL tokens for her birthday.
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