The new date is Jun 13, 2022.
A major selloff in thecryptocurrencies market took place on Monday after Celsius announced it was suspending all withdrawals because of extreme market conditions.
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In a post on Monday, Celsius said it was rationing all withdrawals, currency swaps, and transfers in order to meet all of its withdrawal obligations in the future.
Customers will continue to accrue rewards during the freeze while the company takes steps to preserve and protect assets.
The Celsius token was trading at less than 20 cents as of Monday morning, down from around $2 in early May and $7 in June last year.
The announcement by Celsius caused a selloff in the wider market of cryptocurrencies.
Celsius founder and CEO Alex Mashinsky hit out at critics on social media, accusing them of spreading misinformation and FUD. If you are paid for this then let everyone know you are picking sides...
After last month's high-profile collapse of another high-yielding stable coin, Terra, and its companion token, Luna, questions have been raised about the trustworthiness of Celsius and other similar platforms. The value of Celsius' assets dropped from $24 billion in December of 2016 to $11.8 billion last month due to the decline in the market for cryptocurrencies. Last year, Celsius raised $750 million in funding from the likes of investment firm WestCap and a Canadian pension fund manager. Celsius borrowed $500 million from the U.S. dollar-pegged stable coin Tether.
The Celsius paused withdrawals due to the extreme market conditions.
The lender paused withdrawals due to extreme market conditions.
Celsius Freezes Withdrawals.
There was a sell-off in the digital asset market.
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