The Celsius token is down 92 percent from last year.
,” the company said, “Celsius has the reserves to meet obligations, as dictated by our comprehensive liquidity risk management framework.
”Due to extreme market conditions, today we are announcing that Celsius is pausing all withdrawals, Swap, and transfers between accounts. We are taking this action today to put Celsius in a better position to honor, over time, its withdrawal obligations.In theory, Celsius works in much the same way an ordinary bank does, except in cryptocurrency. It collects deposits and then loans them out. An
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Celsius Halts Withdrawals, CEL Token Collapses.CelsiusNetwork has paused all withdrawals due to extreme market conditions
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