Celsius Cryptocurrency Studying “Potential Strategic Deals”
Celsius NetworkCelsius Cryptocurrency Studying “Potential Strategic Deals”
, which halted user withdrawals more than two weeks ago amid liquidity crunch, said it was exploring options such as “strategic deals as well as restructuring our commitments.”
The lender did not elaborate in a blog post Thursday. Celsius, which allows users to lend cryptocurrency with an annual return of more than 18%, has grown to more than 1.7 million users. At one point it had more than $20 billion in assets before it fell.
'Turbulent' crypto-lending platform asks for time to stabilize
On June 12, Celsius discontinued withdrawals and other features, citing "harsh market conditions". The company made several risky bets that did not pay off, as the cryptocurrency markets plunged
Celsius is one of the crypto firms battling the liquidity crises that have hit crypto lenders Babel and BlockFi, and hedge fund Three Arrows Capital. Celsius last updated its users on June 19.
Liquidity crises are spreading on cryptocurrency exchanges
The option of a liquidity injection by FTX, one of the largest cryptocurrency exchanges, does not seem likely. Celsius asked FTX chief Sam Pinkman Fried for a bailout, but her request was turned down, according to a person familiar with the matter. Celsius and FTX did not immediately respond to requests for comment.
keywords
gold prices
Exchange Rates
oil prices
oil prices
cars prices
plane prices
US stock market
