Crypto lending and borrowing platform Celsius has announced that it now holds more than $2.2 billion in digital assets under management (AUM).
According to a Nov. 9 release, Celsius has more than doubled its net crypto holdings six months after first surpassing $1 billion in June. The platform has attracted more than 215,000 total users worldwide in total.
Excluding its AUM, Celsius’s balance sheet now includes cash and its native CEL tokens worth more than $680 million.
Celsius offers a centralized alternative to decentralized finance (DeFi), dubbed ‘CeFi’ by much of the crypto community. Crypto assets deposited on the platform are lent to exchanges and market markers, with 80% of interest generated being distributed to depositors.
Since launching in July 2018, Celsius claims to have paid more than $80 million in rewards to depositors.
In the announcement, Celsius’ CEO and…