United States, Dec. 9, 2020 /AlexaBlockchain/ – The blockchain analysis company Chainalysis has completed an audit of $3,318,368,196.40 of Celsius Network’s assets. The conclusion of this audit, confirmed through Chainalysis Reactor, the investigative blockchain analysis tool, provides the first third-party verification to date of Celsius Network’s assets, based on transactions, total deposits and total withdrawals since launch of the service in June 2018.
Third-party analysis ensures transparency with independent verification and proof of funds at the industry-leading cryptocurrency rewards and lending platform.
Alex Mashinsky, CEO and founder of Celsius Network, said:
“The conclusion of our audit is a great step in building greater trust and transparency for our members and for the industry at large. Our relationships with our 230,000 community members are built on trust, because they count on us to act in their best interests and have access to unique, curated financial services, products and rewards that are not available through other financial platforms. With the validation of a third-party, we’re providing additional transparency into our business, which remains one of the industry’s most reliable, secure and rewarding platforms for putting unparalleled economic freedom into the hands of the people.”
Celsius Network said in its press release that the company has adopted additional steps to make cryptocurrency investing even more accessible to investors around the world, including lowering loan minimums, adding new tokens and coins and expanding its cryptocurrency rewards. Since May 2020, Celsius Network has more than doubled its crypto holdings.
Jason Bonds, Chief Revenue Officer at Chainalysis, said:
“We support transparency in the cryptocurrency industry, and provide the tools necessary to build trust in a global economy built on blockchains. After working together for almost two years and deploying our transaction monitoring software, Celsius Network asked us to help provide further transparency to its community by verifying the process and accuracy of the information related to the net funds collected by Celsius. This process included accounting for over $7,609B in deposits and 4,290B in withdrawals since Celsius launched its service in June of 2018.”