Major Crypto Lender Celsius Suspends Withdrawals Bitcoin Drops To

Описание: Major crypto lending platform Celsius on Monday announced it was suspending all withdrawals due to “extreme market conditions,” triggering a major selloff in the cryptocurrency market with Bitcoin dropping dropping more than 9%. The suspension of withdrawals comes just a day after Celsius founder and CEO Alex Mashinsky hit out at critics on Twitter, accusing them of spreading misinformation and FUD—a popular crypto acronym for “Fear, Uncertainty, Doubt.” Responding to a tweet by Mike Dudas, the founder of crypto news outlet The Block, Mashinsky wrote: “Mike do you know even one person who has a problem withdrawing from Celsius?… If you are paid for this then let everyone know you are picking sides.”Questions have been raised about crypto platforms like Celsius that promise massive yields to their customers after last month’s high-profile collapse of another high-yielding stable coin, Terra, and its companion token, Luna, last month. According to the Financial Times, Celsius was also impacted by the overall decline in the cryptocurrency market in the last few months with its overall assets dropping from a value of $24 billion in December 2021 to $11.8 billion last month. Celsius runs one of the largest crypto lending operations in the world and it managed to raise $750 million in funding last year from the likes of investment firm WestCap and Canadian pension fund manager Caisse de dépôt et placement du Québec. Celsius has also borrowed $500 million from the U. S. dollar-pegged stable coin Tether, down from an originally planned loan of $1 billion. Crypto Lending Service Celsius Pauses Withdrawals, Citing 'Extreme Market Conditions' (Coindesk)Crypto lender Celsius pauses withdrawals, transfers citing ‘extreme market conditions’ (TechCrunch)Crypto Lender Celsius Freezes Withdrawals, Fuels Market Rout (Bloomberg)Crypto lender Celsius Network stung by sell-off in digital asset market (Financial Times)


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