The Celsius move triggered a slide across cryptocurrencies, with their value dropping below US$1 trillion, on June 13, 2022.WASHINGTON - Bitcoin fell as much as 14 per cent on Monday after major US cryptocurrency lending company Celsius Network froze withdrawals and transfers citing "extreme" market conditions, in the latest sign of the financial market downturn hitting the crypto sphere.
Companies exposed to cryptocurrencies have previously warned that declines in token prices could have ripple effects, including by triggering margin calls. "The Fed's overexpansion of its balance sheet led to a number of bubbles including tech stocks, crypto tokens," he said. Bitcoin, which surged in 2020 and 2021, is down around 50 per cent so far this year. Ethereum is down more than 67 per cent this year.Celsius says on its website that customers who transfer their crypto to its platform can earn an annual return of up to 18.6 per cent. The website urges customers to "Earn high. Borrow low".
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Crypto firm Celsius pauses all transfers, withdrawals as markets tumble:Cryptocurrency lending firm Celsius Network will pause withdrawals and transfers between accounts due to 'extreme market conditions', the company said on Monday, in the latest sign of pressure in the crypto industry. Bitcoin extended earlier declines after Celsius's announcement, falling more than 6 per cent Are you a crypto sucker? bought alittle more. invest in future, no fear.
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Crypto firm Celsius pauses all transfers and withdrawals between accountsCryptocurrency lending firm Celsius Network will pause withdrawals and transfers between accounts due to 'extreme market conditions', the company said on Monday (June 13), in the latest sign of pressure in the crypto industry. Bitcoin extended earlier declines after Celsius's announcement, falling more than six per cent to as low as $24,888 (S$34,614), an 18-month low. Ether, the world's second-largest...
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The world of crypto lendingLONDON: Major US cryptocurrency lending company Celsius Network froze withdrawals and transfers on Monday, citing \u0022extreme\u0022 market conditions, sparking a sell-off across crypto markets. Here\u0027s what you need to know about crypto lending - a corner of the digital asset market that has boomed over the la
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