The startup offers an online financial platform that enables secure digital trading of assets on the blockchain, providing businesses with access to curated financial services typically unavailable through traditional institutions. By allowing users to earn interest on deposits in a digital wallet, the platform creates new opportunities for earning, borrowing, and payment in a decentralized financial ecosystem.
Funding
$830.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
The original startup description discusses an online financial platform that enables secure digital trading of assets on the blockchain, providing businesses with access to curated financial services typically unavailable through traditional institutions. However, the provided website content indicates that Celsius was a cryptocurrency platform that filed for Chapter 11 bankruptcy and has since shut down its mobile and web apps. Claim distributions to eligible creditors are being made in cryptocurrency and US dollars.
Solution
Given the current state of Celsius, a revised description is not applicable as the company is no longer operational in its original form. The platform's services, which included enabling secure digital trading of assets on the blockchain and providing access to curated financial services, are no longer available. The company is now focused on distributing assets to creditors as part of its bankruptcy reorganization plan. Eligible creditors are receiving distributions in cryptocurrency (Bitcoin and Ethereum) or US dollars, depending on their location and eligibility. Some creditors may also receive equity shares in Ionic Digital LLC, the reorganized mining business.
Target Audience
The current target audience consists of Celsius creditors, including former users of the platform who had assets held within the Celsius ecosystem.
Features
- Claim distributions in Bitcoin (BTC) and Ethereum (ETH) for eligible creditors
- US dollar (USD) distributions via check or wire transfer
- Potential equity shares in Ionic Digital LLC for some creditors
- Claims Portal for creditors to view and update information
- Customer support resources available through Stretto