One of the largest crypto lenders, Celsius Network, told users it is pausing all withdrawals, swaps, and transfers between accounts due to “extreme market conditions.”
One of the largest crypto lenders, Celsius Network, told users Sunday night that it is pausing all withdrawals, swaps, and transfers between accounts due to “extreme market conditions.”
Celsius lends out customer deposits to other users to earn a return. The firm managed $11.8 billion in assets as of May 17, according to its website. It offers users annual percentage yields of up to 18.63% on cryptocurrency deposits. The company said it has 1.7 million users. Celsius raised $750 million in funding late last year from investors including Canadian pension fund Caisse de dépôt et placement du Québec.
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