Celsius’s ambitious promises to beat banks became a fairy tale overnight. Most crypto fans are restraining themselves from investing in crypto investment projects after seeing fatal crashes happen to Three Arrows Capital and Celsius which both seemed to be an answer for future decentralized banking.
Typical crypto exchange and lending platform, Abra has just announced it will launch the first US-regulated crypto bank in Q1 of 2023. Even if its crypto bank is regulated will it be free from an existential crisis?
The answer is again possibly lying in Bitcoin’s price which is normally hard to predict for the next year. However, the interest of the masses in crypto is not fading yet. Additionally, Ethereum’s upcoming merger could show Abra’s crypto bank an exit to obvious success.