Crypto Lender Celsius Freezes Withdrawals


A month after the dramatic collapse of sister tokens UST or TerraUSD and Luna, the crypto area is within the grip of one other scandal. 

The crypto lender Celsius Network has simply made an announcement that can little question trigger additional panic amongst traders.

The agency, based in 2017 by Alex Mashinsky, S. Daniel Leon and Nuke Goldstein, will freeze withdrawals of funds from its clients and doesn’t say precisely when this measure will finish.

“Due to extreme market conditions, today we are announcing that Celsius is pausing all withdrawals, Swap, and transfers between accounts,” the corporate stated in a memo printed in Medium. “We are taking this action today to put Celsius in a better position to honor, over time, its withdrawal obligations.”