Crypto community confused as Celsius continues with weekly rewards

Members of the crypto community on Twitter have been left bewildered by the beleaguered Celsius Network continuing to pay weekly rewards despite pausing withdrawals two weeks ago. As previously reported, crypto lending platform Celsius paused withdrawals on June 13 after citing extreme market conditions amid the current bear market. Reports soon followed that the firm … Read more

Report: Celsius Hires Citigroup to Help the Startup Find ‘Potential Financing’ – Bitcoin News

According to “two people familiar with the matter,” the cryptocurrency lending company Celsius is working with the financial giant Citigroup in order to get advice on how to handle the firm’s financial hardship. The sources note that Citigroup was hired by Celsius to help the company find “potential financing.” Sources Say Celsius Is Looking for … Read more

BitBoy founder threatens class action lawsuit against Celsius

Just two weeks after appearing in an ask me anything (AMA) with Celsius founder Alex Mashinsky, crypto Youtuber Ben Armstrong has announced he intends to file a class action lawsuit against the lending platform and its chief executive. Armstrong made legal threats via Twitter on June 15, and has since provided more detail in multiple … Read more

Celsius Insolvency Rumors Swirl After Company Pauses Withdrawals, Nexo Offers to Buy Firm’s Assets – Bitcoin News

On Monday, June 13, 2022, the crypto economy dropped below the $1 trillion region, as a great majority of crypto assets have lost between 10% to 25% during the last 24 hours. Meanwhile, the crypto community has been discussing the cryptocurrency lending application Celsius as rumors of insolvency have been swirling. On June 12, around … Read more

Mashinsky says ‘Sharks of Wall Street’ circling around Celsius and other projects

The CEO of crypto lending and staking platform Celsius Alex Mashinsky believes “the Sharks of Wall Street” can smell blood in the water and are causing instability at several crypto projects. Mashinsky attributes recent Celsius (CEL) price falls, the brief Tether (USDT) depegging, and collapse of Terra (LUNA) — at least in part — to … Read more