Decoding celsius news. what it meant for Crypto invetors?

Decoding celsius news. what it meant for Crypto invetors?

What is Celsius?

Celsius is a DeFi bank  for the crypto world.  It's a platform providing services like borrow, earn, lend, swap etc.  Just like the bank do for fiat.

What's with the Celsius News?

On 13th June, 2021, Celsius announced that its pausing withdrawal, swaps & transfer on its platform due to extreme market condition.  Hinting insolvency.

How much is Celsius  Risk Exposure?

According to a report by CNBC, Celsius has lent out $8 million to clients & almost $12 million  in asset under management.

Is Celsius Bankrupt?

Celsius is officially bankrupt. Please refer to the link below to view the updated story -

What will happen to Client's funds?

Celsius is a trustworthy platform and has a user base of over 1.7 million. Likely, the news is a temporary caution taken by the network to maintain its liquidity.

Effects on the Celsius token

The token sharply fell by 50 per cent but recovered next day and remained stable. The global crypto crash & inflation are much to blame than the news alone.

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