,” the company said, “Celsius has the reserves to meet obligations, as dictated by our comprehensive liquidity risk management framework.
”Due to extreme market conditions, today we are announcing that Celsius is pausing all withdrawals, Swap, and transfers between accounts. We are taking this action today to put Celsius in a better position to honor, over time, its withdrawal obligations.In theory, Celsius works in much the same way an ordinary bank does, except in cryptocurrency. It collects deposits and then loans them out. An
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Hey rjcc mslopatto, I usually appreciate most of your articles on this industry but Celsius isn't DeFi, it's good old fashioned CeFi (but worse).
Celsius is not defi
forbitspace is the future of DeFi
Meet the new boss, same as the old boss. Defi my big fat buttular region.
because DEFI is scam?
Follow up:
DeFckd
Celsius is not DeFi
'Unbank yourself'
Fahrenheit is much better for the weather.