Celsius Network founder gifts wife 15 million CEL tokens

The founder of the crypto payments network Celsius has gifted his wife a large portion of the token supply, reducing his own enormous stake in the process.

Celsius CEO Alex Mashinsky gifted wife Krissy 15 million CEL tokens as a birthday present, worth an estimated $20 million at today's prices.

The move has shifted the balance of the top CEL token holders list, as observed by Twitter user 'Kevin - HODL'.

Mashinsky is still at the top but now his wife would be the third largest token holder according to the list.

The community have been pondering the token shift with one twitter user called 'bitcoin giraffe' stating;.

80% of the returns generated is paid to members and the community, and 20% goes to Celsius.

In June 2020, Celsius completed a $20 million fund raise from the crypto community.

CEL token prices have been performing well recently and hit an all-time high of $1.38 on October 10 according to Coingecko.

Since the beginning of the year, CEL tokens have surged 880% to their current price of $1.33.

There is currently a circulating supply of 361 million tokens out of a total of 695 million.