Updated on:11/26/2025 01:40 PM 
CryptoSlate had the distinct pleasure of interviewing Celsius Network CEO Alex Mashinsky. A veteran tech entrepreneur, Mashinsky has founded seven New York-based startups, raising over $1 billion in capital and achieving exits valued at more than $3 billion.
Celsius has been making headlines in the fintech world for surpassing $4 billion in crypto loans — a remarkable 93% increase from the $2.2 billion in loans at the beginning of 2019.
In our exclusive discussion with Alex, we explored his motivation behind building Celsius, the inherent risks associated with crypto lending platforms, the challenges of developing a user-centric crypto app, and his compelling thesis on why Bitcoin will not be the ultimate winning blockchain.
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Disclosure: Celsius Network is an advertiser on CryptoSlate, but this is not a sponsored post.
What is your professional background, and how did you first get involved in the cryptocurrency space?
I'm a tech founder of eight NYC-based companies, having raised over $1B and achieved $3B in exits, including two unicorn startups.
Tell us about why you decided to launch Celsius. What is its core mission?
Celsius was created to enable people to 'Unbank Yourself' and deposit their money with a platform that acts in their best financial interest, unlike traditional banks.
Who is the typical Celsius customer?
Our typical user is from the US or Europe, holds at least $20k worth of crypto, and is a long-term HODLer looking to generate yield on their assets.
Where is your team located, and why did you choose those locations?
We have offices in London, New York, Tel Aviv, and Belgrade. These are the locations where we found the best talent to build this project.
What are some of Celsius' notable achievements or milestones so far?
Celsius Network pioneered the concept of high-yield income for digital currencies. We pay up to 11% interest on 25 crypto assets by providing collateralized loans and collecting interest. We pass on 80% of our revenue back to our community. We originated over $4.25B in loans in less than two years and have grown to 56,000 users worldwide.
What are the primary benefits of using Celsius compared to other crypto lending platforms?
Celsius is focused on bringing the next 100 million users into crypto by paying them up to 8X more than traditional banks. Most of our competitors look and feel just like another bank. They do not share nearly any of their revenue with depositors, as it all goes to their shareholders.
What are the risks involved when using crypto lending platforms like Celsius?
Yes, there are always risks. The key question is who do you trust to manage these risks for you? You can do nothing and earn nothing, manage the risk yourself and keep 100% of the returns, or outsource to Celsius and have a team of 65 people managing the risk for you while you keep 80% of the income we generate on your coins.
Can you share details about the Celsius product roadmap? What upcoming features are you most excited about?
We are very excited about our soon-to-be-launched ability to accept fiat deposits globally, enabling borrowers to take out loans against any digital asset using any fiat currency as collateral.
What are the biggest challenges of building a crypto lending app for a new generation of crypto users?
The biggest challenge is earning the community's trust and continuing to act in their best interests. Many services start with a great mission but then add fees and change their model to make more money. Celsius has never charged a single depositor any fees, and we don't plan to start. Our other major challenge is minimizing counterparty risk; our #1 job is to return more coins to each depositor than they entrusted to us.
What other projects and/or blockchain developments are you most excited about right now?
I love Ethereum as a protocol and am excited about the DeFi services built on top of it. I also see potential in EOS as a blockchain infrastructure solution.
Do you have any blockchain and/or crypto predictions for 2020 and beyond?
We have too many blockchains and not enough users, too much volatility and not enough utility. In 2020, we will begin to see the winners separate from the losers in this industry.
What do you see as the biggest obstacles to the mainstream adoption of cryptocurrency?
Most solutions we offer today are not practical or relevant to the 7.5 billion people on this planet. We need a 'Netscape moment' and a killer app that looks and feels like the apps we use today but runs on the blockchain infrastructure everyone is building. Interest income on deposits is something 7.5 billion people need, and that's why Celsius is focused on this as our killer DApp.
How important is the store of value narrative for crypto adoption, and do crypto lending platforms help with that?
Today, the primary demand and value of Bitcoin comes from its role as a Store of Value. Celsius enhances this by enabling users to earn a yield on top of their BTC with minimal risk. We also enable stablecoins pegged to six different fiat currencies to earn up to 10% in interest income.
What is your most controversial opinion regarding blockchain and/or cryptocurrency?
That the winning Blockchain is not BTC and that it has not been invented yet…
Since you believe Bitcoin will not be the winning blockchain, what characteristics will the successful one have?
I believe Bitcoin will be one of the winners and will definitely serve as a long-term store of value. However, it will not be the blockchain that drives mass adoption for billions of people due to its legacy code and speed issues. The winning blockchain will need to meet the needs of 7 billion people on the planet. It will have to be fast, secure, and earn the trust of the world's population.
Born in 1965 in the USSR to a Jewish family, Alex Mashinsky moved to the US in the 1970s.
