The Celsius token is down 92 percent from last year.
,” 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
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
DeFi pulls the curtain on financial magic, says EU Blockchain Observatory expertConcepts developed in the DeFi space to increase efficiency in the traditional financial system are gaining ground, said Lambis Dionysopoulos, a researcher at the University of Nicosia.
Read more »
Indian Government's Chief Economic Adviser Warns of Danger in Crypto, Defi Without Regulation – Regulation Bitcoin News'We may not be fully aware or comprehend the kind of forces we are unleashing ourselves,' said the Indian government's chief economic adviser. crypto cryptocurrency bitcoin defi
Read more »
NFT and Crypto Games Outperformed DeFi Amid Market Selloffs in May: ReportUsers adoption and the number of web3 developers rose amid the bear season aggravated by the macroeconomic situation and Terra's debacle, DappRadar found.
Read more »
Defi Platforms and Smart Contract Tokens Suffer the Most During the Crypto Market Rout – Defi Bitcoin NewsWith the crypto economy just under $1.2 trillion, the value of DeFi protocols and SmartContract crypto tokens has suffered a great deal.
Read more »
Huobi Launched $1 Billion Investment Vehicle Focused on Web 3 and DeFiThe large crypto exchange wants to take a stab at DeFi and Web 3 development through the new investment arm.
Read more »
Celsius Halts Withdrawals, CEL Token Collapses.CelsiusNetwork has paused all withdrawals due to extreme market conditions
Read more »