CELSIUS NETWORK STATES THAT THEY NEED TO STABILIZE LIQUIDITY AND FURTHER PAUSING ACTIVITIES!
One week after the suspension of withdrawals, swaps, and transfers due to allegedly harsh market conditions that gave rise to insolvency rumors, Celsius Network made its declaration.
On its site, Celsius Network posted updates. It stated that since its founding, “engaging with authorities and officials regarding this hiatus and our company’s resolve to find a resolution” has been a priority.
The network added that for the platform to fulfill its obligations to its community, it would concentrate on addressing difficulties by further suspending its activity on Twitter and in AMAs.
To acquire “certain remaining qualifying assets, namely collateralized loan receivables secured by corresponding collateral assets, brand assets, and customer database of the firm,” Switzerland-based Nexo AG has made an offer to Celsius.
Crypto Winter and the stock market’s dismal recent performance are putting pressure on crypto institutions. Hong Kong-based cryptocurrency lender Babel Finance was the most recent lending platform recognizing volatility.