Alex Mashinsky, the CEO of staking and crypto lending platform Celsius, recently stated that the Sharks of Wall Street were creating instability in the crypto sphere. The CEO has attributed the recent price falls of Celsius, the de-pegging of Tether, and the collapse of Terra- to most of the short-sellers on Wall Street. CEL has already fallen from its all-time price high of $8.05 to $0.82- which is a drop of 90%.
In an event that took place on Twitter Spaces on Tuesday, some of the users of Celsius went on to claim that the platform had already liquidated their holdings with the drop in CEL. They also stated that the trading was illiquid as the price went down.
Alex Mashinsky Thinks Wall Street Short Sellers Are Looking To Destroy The Sphere
Alex Mashinsky further mentioned that Celsius had been affected majorly by the crash in wider crypto- completely due to the collapse of Terra- and that he believed someone to be targeting the company. During the event, he mentioned that this was not a coincidence- as someone had decided to take down the entire company. When Cointelegraph contacted the CEO for further details, he went on to explain that there was a deliberate push from Wall Street that would be increasing the problems of crypto.
Alex Mashinsky further mentioned that the sharks had already taken down Luna, along with Tether, Maker, and several other companies. The sharks were not really focusing on Celsius- as they were simply looking for any slight weakness that they would look to destroy. The point was that the sharks of Wall Street were simply swimming in the waters of crypto.
Alex Mashinsky’s Celsius does allow the users to stake their cryptocurrency- which can later be used as major collateral for loans. Stakers did earn up to 80% of the revenue that was earned by the platform.