What Crypto Lender Celsius Isn’t Telling Its Depositors

In its terms of use, Celsius reserves the right to re-hypothecate customers’ assets, but it’s ambiguous whether the passage refers solely to depositors’ funds or to borrowers’ pledged collateral as well. “In consideration for the rewards earned on your Account and the use of our Services,” the document says, “you grant Celsius the right … to pledge, re-pledge, hypothecate, rehypothecate, sell, lend or otherwise transfer or use any amount of such Digital Assets … for any period of time.”