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Ripple CTO Smirks Celsius Network About Rebuilding The Company

The recent news of Celsius Network’s rebirth as a crypto asset custodian elicited a flurry of replies, the most expressive of which came from Ripple CTO David Schwartz.

Ripple CTO David Schwartz

Schwartz, in particular, showed his sardonic reaction to this news by pointing to well-known needle-punctured contraception.

It may be interesting to recall recent news reports indicating that Ripple Labs was interested in purchasing Celsius.

Celsius’ CEO, Alex Mashinsky, outlined the company’s plans to transition into a custodial service provider in a closed meeting with staff. A client revealed to the public that plans to preserve Celsius involved renaming the company, Kelvin. November is a possible date for the return of Kelvin.

Alex Mashinsky

Mashinsky sees the future of the infamous CeDeFi network in offering custodial services for keeping crypto assets, comparing it to the Apple and Pepsi instances. The new company intends to generate revenue by charging transaction fees.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.