On Sunday, June 12, cryptocurrency lender Celsius stopped accepting withdrawals, exchanges, and transfers. At present, however, it is exploring ways to become solvent again. Celsius Hints on Recovery Options Celsius has provided updates on the current service freeze and announced new plans to make a recovery. The cryptocurrency loan company claimed that it might seek business deals. This usually refers to business transactions under the same umbrella as mergers and acquisitions. Additionally, Celsius stated that it could restructure its debt. It suggests that the company and many counterparties it deals with may lower or renegotiate the terms of the debt. The business adds that it is looking into more possibilities but emphasizes that these “exhaustive inquiries are complex and take time.” It claims to be collaborating with specialists in several fields. Operating with the entire community and all clients in mind, we continue to take steps to preserve and protect assets and explore the options available to us. Our latest blog here https://t.co/ckIDi2O0Dc — Celsius (@CelsiusNetwork) June 30, 2022 The Crisis Has Persisted For 18 Days With just one other update, Celsius has been experiencing a liquidity crisis for 18 days. Except for the company considering its choices, Celsius has offered virtually little information regarding the situation. Other sources, however, have since described potential developments. Most importantly, i...
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