Alex Mashinsky Net Worth, Celsius Network, Entrepreneurial Career, Bio

Alex Mashinsky.
Courtesy of Mashinsky.com.

 

Who Is Alex Mashinsky?

Alex Mashinsky is a prominent technology entrepreneur who is most known as one of the inventors of VoIP (Voice over Internet Protocol) – a technology that allows calls to be performed over an internet connection.

Over the years, Mashinsky has also founded several companies, including Arbinet, GroundLink, Transit Wireless, and the Celsius Network – his current “cefi/defi” crypto app that allows you to earn yield on crypto assets and stablecoins. Mashinsky is reportedly a holder of over 50 patents as well.

 

Alex Mashinsky Bio And Background

According to Forbes, Alex Mashinsky was born in Soviet Ukraine and migrated to Israel with his parents in 1972.

In 1999, The Industry Standard wrote that as a teen, Mashinsky would buy confiscated goods from customs auctions at Tel Aviv’s Ben Gurion airport, including pens, electrostatic paper, and hairdryers. He would resell these items for profit.

The Industry Standard adds that Mashinsky liked to tinker with things and often tapped into public phone lines until Israel’s national telecommunications company threatened to shut off his family’s telephone service.

According to The Industry Standard, Mashinsky studied at three universities, never finishing a degree in electrical engineering. After serving in the Israeli military, Mashinsky left the country.

3 years later, having traveled 40 countries and having ran short-lived business projects, Mashinsky arrived in New York. In the United States, Mashinsky undertook multiple ventures, including brokering sodium cyanide excavated in China for use by gold miners.

After his cyanide business collapsed, Mashinsky decided to move into telecommunications, The Industry Standard writes. After working in the industry for some time, Mashinsky noticed that telecom companies were heavily investing in high-capacity networks despite a global surplus in network capacity. He realized that it would be more beneficial for these companies to instead build small networks and buy extra capacity when necessary.

This realization led to telecom clearinghouse company Arbinet, founded by Mashinsky in January 1995, according to his LinkedIn page. According to Mashinsky’s website, Arbinet was an early VoIP pioneer and market leader. The VoIP technology invented at Arbinet would go on to connect people via the Internet worldwide.

Forbes writes that Arbinet went public in 2004 with valuation of over $1 billion.

In 2003, Mashinsky founded Transit Wireless – a wireless coverage provider for the New York City subway system. In 2005, Mashinsky founded GroundLink – one of the first on-demand ridesharing apps in the world.

Mashinsky’s website also lists his failed ventures and missed opportunities. Among other things, he didn’t see potential in Google in 1998 and ICQ in 1996.

 

Alex Mashinsky’s Celsius Network

Alex Mashinsky founded Celsius Network in February 2017. Celsius is a lending platform built on blockchain technology. It allows users to borrow digital assets, deposit their cryptocurrency on the platform in exchange for rewards, and make fast crypto transfers through the Celsius app.

On his Medium blog, Mashinsky writes that Celsius combines the benefits of both centralized (CeFi) and decentralized finance (DeFi).

Unlike most other lenders Celsius straddles both realms of Centralized (CeFi) and Decentralized Finance (DeFi). What does that mean? For one, it allows us to act in our community’s best interest by deploying assets to institutions, retail, exchanges and DeFi and thus offering the highest rates, supporting the most asset types, and paying more interest on more tokens and coins for longer than anyone else.

Mashinsky points out that the biggest advantage of CeFi is that it is more intuitive and doesn’t require users to know how to “manage keys, who to trust, when to deploy, and when to exit.”

Celsius supports both DeFi and non-DeFi yield sources, which allows it to provide its customers with higher yield rates.

Celsius supports several dozen cryptocurrencies for yield generation, including Bitcoin, Ethereum, MATIC (the token of Sandeep Nailwal’s Polygon protocol), USDC, BUSD, DOT (the token of Gavin Wood’s Polkadot protocol), AAVE (the token of Stani Kulechov’s Aave protocol), XRP, LINK (the token of Sergey Nazarov’s Chainlink network), and BAT (used by the Brave browser to reward users and publishers). Annual yield rates differ depending on the cryptocurrency.

Certain digital assets deposited on Celsius earn rewards for their owners.
Courtesy of Celsius.network.

 

Via Celsius, users may also borrow stablecoins (a minimum of $500) or USD (a minimum of $25,000) using their digital assets as collateral. When borrowing, users may select their interest rate – lower interest rates require higher collateral amounts.

Celsius allows customers to borrow money.
Courtesy of Celsius.network.

 

The native token of Celsius is CEL. The CEL token provides holders with certain benefits, including interest payment discounts or bonus rewards for digital assets stored on the Celsius platform.

 

Alex Mashinsky Net Worth

Alex Mashinsky’s exact net worth is unknown, but Forbes wrote in 2019 that he has achieved over $3 billion in exits throughout his career. Mashinsky’s website adds that he has raised over $1 billion as a startup founder.

On a tangential note, the market cap of the Celsius token (CEL) has consistently been in the billions of dollars range.

 

Online Presence And Publicity

Alex Mashinsky is present on the Medium blogging platform, as well as on Twitter and LinkedIn. Celsius Network has a YouTube channel as well.

Cointelegraph included Mashinsky in its list of the top 100 people in blockchain in 2021, alongside the likes of Changpeng Zhao, Anthony Pompliano, Andre Cronje, and Hayden Adams.

Mashinsky has been interviewed by investors Mark Moss and Scott Melker. He has also been featured on Real Vision (founded by Raoul Pal).

In June 2021, Business Insider wrote that Mashinsky called Tesla founder Elon Musk a “tourist in the crypto world looking to collect followers.”

 

 

 

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