{"id":82063,"date":"2022-07-19T01:20:59","date_gmt":"2022-07-19T05:20:59","guid":{"rendered":"https:\/\/www.hedgeco.net\/news\/?p=82063"},"modified":"2022-07-19T01:09:22","modified_gmt":"2022-07-19T05:09:22","slug":"from-25-billion-to-167-million-how-a-major-crypto-lender-collapsed-and-dragged-many-investors-down-with-it","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/07\/2022\/from-25-billion-to-167-million-how-a-major-crypto-lender-collapsed-and-dragged-many-investors-down-with-it.html","title":{"rendered":"From $25 billion to $167 million: How a major crypto lender collapsed and dragged many investors down with it"},"content":{"rendered":"\n<p>(CNBC) Celsius filing for bankruptcy last week surprised virtually no one. Once a platform freezes customer assets, it\u2019s typically all over. But just because the fall of this embattled crypto lender didn\u2019t come as a shock, doesn\u2019t mean it wasn\u2019t a really big deal for the industry. In October 2021, CEO Alex Mashinsky said the <a rel=\"noreferrer noopener\" href=\"https:\/\/www.reuters.com\/business\/finance\/how-crypto-lender-celsius-stumbled-risky-bank-like-investments-2022-06-15\/\" target=\"_blank\">crypto lender had $25 billion in assets under management<\/a>. Even as recently as May \u2014 despite crashing cryptocurrency prices \u2014 the <a href=\"https:\/\/www.cnbc.com\/2022\/07\/13\/embattled-crypto-lender-celsius-informs-state-regulators-that-its-filing-for-bankruptcy-imminently-source-says-.html\">lender was managing about $11.8 billion in assets<\/a>.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.cnbc.com\/2022\/07\/17\/how-the-fall-of-celsius-dragged-down-crypto-investors.html\">To read this article:<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(CNBC) Celsius filing for bankruptcy last week surprised virtually no one. Once a platform freezes customer assets, it\u2019s typically all over. But just because the fall of this embattled crypto lender didn\u2019t come as a shock, doesn\u2019t mean it wasn\u2019t [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-82063","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/82063","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=82063"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/82063\/revisions"}],"predecessor-version":[{"id":82064,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/82063\/revisions\/82064"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=82063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=82063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=82063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}