Crypto Lending & High Yield Interest For Hodlers - Alex Mashinsky, Celsius | Forkast.News

One of Wall Street’s safest businesses, securities lending, is also providing high crypto yields for hodlers — or long-term holders — with more investors searching interest-bearing crypto accounts. Join Angie Lau as she discusses this & much more with Celsius Network CEO Alex Mashinsky.

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“If you ask any Wall Street veteran: ‘What is the safest business on Wall Street?’ They’re not going to tell you banking, they’re not going to tell you trading, they’re going to tell you sec lending,” Celsius Network CEO Alex Mashinsky told Forkast.News in a video interview. “That is also the safest business in crypto.”

Securities lending is the loaning of assets such as shares to firms and institutions. But for businesses like crypto lending platform Celsius Network, these loaned assets are cryptocurrencies. Celsius Network’s securities lending strategy has allowed the platform to provide high-yielding interest rates for investors that choose to deposit their assets into Celsius. It currently offers 6.2% for Bitcoin and 8.88% for stablecoins, at press time.

“When an institutional exchange borrows Bitcoin from us, instead of sec lending, they do digital asset lending and they pay us interest,” Mashinsky said. “No one on Wall Street has ever paid this money, the sec lending income, to their customers — that’s the best-kept secret.”

With Bitcoin’s boom, more services have popped up around the globe to present investors with a variety of options for their chosen interest-bearing crypto accounts.

But much like many other services offered in the crypto industry, the new wave of innovation has drawn the attention of regulators.

Recently, crypto lending platform BlockFi which also operates trading services and interest-bearing accounts got the New Jersey Bureau of Securities breathing down its neck, with local authorities claiming BlockFi’s Interest Accounts offers unregistered securities to its users. Texas and Alabama have made similar moves against BlockFi.

According to Mashinsky, the sales aspect could be a sensitive zone for regulators. Celsius users must purchase cryptocurrencies outside of the network, putting its customers in the safe zone — at least for now.

“Even though some may look at Celsius and BlockFi as competitors, they’re really not competing with us on yield,” Mashinski said. “Our job is just to earn that yield for you.”

But with the growth of the company, which Mashinsky says added US$300 million net assets in the same week Bitcoin recently dipped below the key US$30,000 mark, the company has opted to move its main operations and headquarters out of the United Kingdom to the United States, citing increasing regulatory uncertainty.

“For some of the things we do, we may benefit from being based in the United States,” Mashinsky said. “If we choose to go public or if we choose to do some other financial activities, there’s a big disconnect in valuation.”

Watch Mashinksy’s interview with Forkast.News Editor-in-Chief Angie Lau to learn how securities lending is the safest way to generate high yield, Celsius’ plans for public listing, why he believes Bitcoin will reach US$160,000 this year, and more.

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Timings:

00:00 Credits
00:17 Angie Lau intro
01:46 Alex Mashinsky interview proper begins

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#WordOnTheBlock #Alex Mashinsky #CryptoLending #SecuritiesLending #CryptoNews #BlockchainNews #Crypto #ForkastNews #DeFi

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ABOUT ANGIE LAU

Angie Lau is editor-in-chief, CEO & founder of Forkast.News and host of ‘The Daily Forkast’. She is an award-winning veteran journalist, a respected thought leader in blockchain technology and a speaker at conferences around the world including the Forbes Summit, Binance Blockchain Week, Paris Blockchain Week Summit and the Asia Blockchain Summit.

Before founding Forkast in July 2018, Angie anchored Bloomberg TV’s flagship morning show “First Up with Angie Lau” broadcast globally into 350 million homes, offices and trading floors. Angie’s TED Talk “I Am Not Supposed to Be Here” is now a TED-Ed lesson for its global audience of 6.7 million followers.

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