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Opinion
Lionel Laurent

Celsius Crypto FOMO Proved Irresistible to Finance Pros Too

What was it about 18% yields that drew smart bankers to DeFi?

The booth of the Celsius Network crypto platform at the Paris NFT Day conference in April.

The booth of the Celsius Network crypto platform at the Paris NFT Day conference in April.

Photographer: Bloomberg/Bloomberg
Updated on

Another day, another blowup in the hype-driven world of cryptocurrency lending.

And this time there’s a cautionary tale where even sophisticated bankers and pension funds were vulnerable to crypto’s Fear Of Missing Out (FOMO) chasing unrealistic rewards in the unregulated world of “decentralized finance.”