The update comes a week after the crypto lending firm halted all client withdrawals.
Crypto lending firm Celsius Network said it’s working with regulators and remains determined to find a resolution a week after“We want our community to know that our objective continues to be stabilizing our liquidity and operations. This process will take time,” the company wrote inCelsius built up billions of dollars in client assets by offering retail investors an easy way to earn double-digit yields on their crypto holdings.
On Friday, Celsius CEO Alex Mashinsky cancelled his weekly “ask me anything” event, where for years he’s been answering queries from all comers. The company said in the blog post it will be pausing these AMAs — along with its Twitter Spaces — until further notice so that it can “focus on navigating these unprecedented challenges.”
© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.Andrew is Executive Editor for The Block Pro, based in London. He was previously Managing Editor at Bloomberg News and led special projects at Finimize.
AJRummer It's already been a week. It seems like they are just waiting to take profit in the crypto they bought in the DIP.
AJRummer Nexo 🤝 CelsiusNetwork
AJRummer Is it this thing that caused market to crash?
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