they not using customer deposits? They are putting the platform at risk by doing this aren't they?
Think about it. Celsius lends out primarily stablecoins, because that is what borrowers want. Meanwhile Celsius users deposit BTC, ETH and other crypto to earn interest. Celsius needs more stablecoins to lend out, but obviously can’t just sell BTC and ETH deposited by users. So instead they use user deposits as collateral to borrow stablecoins which they can then lend out.
This makes much more sense now, thank you! I'll keep my money on Celsius thanks to you. 👍
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