Cryptocurrency lending firm Celsius announced on Sunday evening that it would be pausing withdrawals, swaps, and transfers between accounts on its platform due to “extreme market conditions.” Celsius Halts All Withdrawals Crypto lending firm Celsius has stopped all withdrawals, swaps, and transfers between accounts, citing market conditions as well as the need for “stabilizing liquidity.” “Due to extreme market conditions, today we are announcing that Celsius is pausing all withdrawals, Swaps, and transfers between accounts. We are taking this action today to put Celsius in a better position to honor, over time, its withdrawal obligations,” the company said in a blog post. .@CelsiusNetwork is pausing all withdrawals, Swap, and transfers between accounts. Acting in the interest of our community is our top priority. Our operations continue and we will continue to share information with the community. More here: https://t.co/CvjORUICs2 — Celsius (@CelsiusNetwork) June 13, 2022 The team’s focus is to protect and preserve assets, and the ultimate objective is stabilizing liquidity and restoring withdrawals, swaps, and transfers between accounts as quickly as possible. Celsius said its operations were continuing, but that there was “a lot of work ahead as we consider various options.” “We understand that this news is difficult. We are working with a singular focus: to protect and preserve assets to meet our obligations to customers,...
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