Celsius Network Head Gifts Wife Large Part Of Token Supply

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The founder of the crypto payments network Celsius has gifted his wife a large portion of the token supply, reducing his own enormous stake in the process.

Celsius CEO Alex Mashinsky gifted wife Krissy 15 million CEL tokens as a birthday present, worth an estimated $20 million at today’s prices.

The move has shifted the balance of the top CEL token holders list, as observed by Twitter user ‘Kevin – HODL’ (@Crypto_Flippin). Mashinsky is still at the top but now his wife would be the third largest token holder according to the list.

The community have been pondering the token shift with one twitter user called ‘bitcoin_giraffe’ stating;

“What concerns me more is the amount that he has. It puts a whole new definition to whale.”

The move seems a little unusual as under marital law (unless there is a pre-nuptial agreement) she is entitled to half of Mashinsky’s assets anyway. Krissy Machinsky runs a company called USA Strong which uses blockchain to ensure products claiming to be made in America actually are.

Celsius, which completed a successful Initial Coin Offering in March 2018 valued at $50 million, is a centralized crypto credit platform with a mobile app that allows users to earn interest on stablecoins and a number of cryptocurrencies.