The chief executive officer of Celsius explained how the Federal Reserve has not had much impact on the crypto industry because of its activities.
Celsius is a crypto lending platform, where users can lend their crypto assets and also borrow by using crypto as collateral. At present,,, Celcius the platform is under investigation by the US regulators. According to US regulators, the Celcius crypto earns program may fall under the Securities law.
On 13 April, Alex Mashinsky, CEO of Celsius Network, appeared in an interview with Kitco news. Through the interview, Alex tried to explain that it is time to see the Crypto market as a separate money market from stock correlation.
Alex noted that the beginning of the 2022 Initiated with a better recovery rate for the Bitcoin & crypto market over the US stock market. And here this situation is showing that we are going toward safety with this digital asset market.
” Bitcoin has recovered most of its losses. You’ve seen bifurcation we’re seeing separation meaning Bitcoin is finally starting to behave as a safety asset and that’s why again I’m selling my stocks and I’m buying more Bitcoins.”
In recent months, many experts claimed that there is a huge correlation between the price of Bitcoin & Cryptos with many tech industry’ stocks assets. On this, Alex admitted that it is true but at the same time he asserted this digital market is separately going from the stock market.
On the Federal Reserve’s plan to dilute funds through hike in the interest rate and strongly influence the financial Economy, Alex said that there are very less chances for Fed influence because already we have a better favorable situation because of the financial restrictions on Russia.
“With us shutting down the ninth-largest economy in the world Russia that’s huge recessionary pressure on our economy. So I do expect a recession next the year 2023 I don’t think there’s anything the fed can do.”
Celsius co-founder also noted that next year people will sell out their stock assets and will buy crypto assets, in particular, Ethereum and Bitcoin will get better advantages.