Investors in the failing cryptocurrency lending startup Celsius are still losing money weeks after the company filed for bankruptcy. Customer withdrawals had been frozen. Celcius Market Cap Crash 86% As the company’s problems worsen, investors have stepped out to relate their experiences following the withdrawal freeze and the ensuing bankruptcy application. One user who placed their entire life money in Celsius lost everything. Uncertainty over when business as usual will return further complicates the situation for the affected investors. Even though Celsius voiced optimism about allowing withdrawals, the most recent developments continue to dash investors’ hopes. The firm’s issue also seems to have played a role in the native token CEL’s notable capital outflows. According to CoinMarketCap, CEL’s market value has dropped by 85.84% year-to-date in 2022, from $1.06 billion on January 1 to $0.15 billion on July 14. CEL market cap YTD. Source: CoinMarketCap Despite attempts by Celsius holders to push the cryptocurrency back up to its highs in an effort to save the struggling company, the token has suffered huge losses. For instance, on July 4, CEL’s community’s activity produced double gains. Related reading | Inflation Hits New 40-Year High, Will Bitcoin And Ethereum Plummet Again? A Community Of Woes Early on Wednesday morning, the cryptocurrency lender issued a press release rev...
