Celsius Network

What-happened-With-Celsius,-and-How-its-Crypto-Lending-Burned-Out
Celsius Faces Legal Charges From State Regulators and SEC

Crypto lending firm Celsius halted withdrawals from its platform. The firm’s action provoked an investigation from security regulators and the SEC. Legal charges from individuals like Ben Armstrong were also added from the firm’s plate. Celsius was in deeper trouble after State securities regulators in Alabama, Kentucky, New Jersey, Texas, and Washington are set to investigate the crypto lending firm as per Reuters. The investigation was in response to the crypto lending firm’s decision to halt customer’s withdrawals, transfers, and swaps earlier this week.  The Texas State Securities Board Enforcement Director Joseph Rotunda told Reuters on Thursday that the officials

2 mins read
What-happened-With-Celsius,-and-How-its-Crypto-Lending-Burned-Out
What happened With Celsius (CEL), and How its Crypto Lending Burned Out

Crypto lending firm Celsius opened a bundle of loans. The firm bought more than $500M worth of stETH but its value dropped due to extreme market conditions. The situation has caused the firm to halt withdrawals. Earlier this week, the crypto market was in turmoil after Celsius’ amassed $20 billion in assets at its peak had been dissolved, which led into a solvency crisis. Technically, Celsius is a do-it-all app that provides its customers seamless and trusted access to crypto services. The company is a custodial asset manager that allows users to access regulated loans and yield, for a transaction

2 mins read