Celsius (CEL): tokenomics, risks and score
The token of a centralised lender that froze withdrawals in June 2022 and filed for bankruptcy, with its founder later convicted of fraud.
What Celsius is, and what it does
This asset has failed. It is recorded here so that a search returns what actually happened rather than promotional material that is still online.
What the CEL token itself does: It captures no protocol revenue. Any value rests on governance rights, on speculation, or on a change that has not happened yet.
Where it runs: Ethereum. Mechanism: Centralised lending platform token. It has been running since 2018, so roughly 8 years.
The facts
- TICKER
- CEL
- SECTOR
- Failed and defunct
- CHAIN
- Ethereum
- LAUNCHED
- 2018, so around 8 years of operating history
- MECHANISM
- Centralised lending platform token
- MAXIMUM SUPPLY
- 695 million
- VALUE CAPTURE
- None
- UPGRADE CONTROL
- Team controlled
- VESTING
- Complete
- LIQUIDITY BAND
- Micro cap. Thin, often a single venue or pool. Treat the quoted price as indicative only.
How the score breaks down
Each dimension is explained on the directory page, and the reasoning behind it is taught in the Academy research process.
Supply and value capture
A hard maximum supply that cannot be raised without the agreement of essentially every participant. The token captures no protocol revenue. Any value rests on governance rights, speculation, or future changes that have not happened yet.
The founding team retains control over upgrades or parameters. Ownership is heavily concentrated. A small number of wallets hold enough to determine the price on their own.
Where it is strong and where it is not
- None. The company entered bankruptcy and its founder was convicted of fraud.
- Froze customer withdrawals in 2022 and filed for bankruptcy weeks later
- Made undisclosed risky bets with customer deposits including in its own token
- Founder pleaded guilty to fraud and was sentenced
- Customers recovered only a fraction of their deposits
Incident history
Froze all customer withdrawals in June and filed for bankruptcy in July with a deficit of roughly 1.2 billion dollars. Hundreds of thousands of customers lost access to their funds.
The founder pleaded guilty to fraud charges and was sentenced to a substantial prison term.
Our read
The main risk
The company collapsed in fraud. This token represents nothing.
Before you buy anything
Check the contract address against the project's own documentation rather than a search result or a screener link, since impersonation tokens with identical names and logos are listed constantly. Check the order book depth before assuming you can exit at the quoted price. And write down what would make you wrong before you buy, not after. The Academy thesis module covers why that single habit protects more capital than any indicator.