Celsius Network Freezes Withdrawals After Experiencing A Bank Run On Its Assets!!!



Crypto lending platform Celsius Networks LLC sent shockwaves through an already rattled digital asset market to start the week, with news that it was pausing all withdrawals, swaps and transfers between accounts, “due to extreme market conditions.”

“We are taking this action today to put Celsius in a better position to honor, over time, its withdrawal obligations,” the New Jersey-based company said in a statement on Sunday.

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DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.

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19 Comments

  1. You have a tremendous amount of knowledge. More people should be listening to you and following you. Thank you for doing what you do. I truly believe that a lot of the coins won’t survive the long haul. I don’t see them all going under by any means, however, there really truly is too many VC’s pumping up these coins. I always try to look at the purpose of something. True decentralization is amazing and I do believe you are right that people are lazy and they don’t want to spend time to understand the crypto market. So yes, probably Bitcoin and ETH will be the legends thriving while government backed cryptos will also be available. Celsius, Luna and maybe some others (we will see) were/are destined to fail. Overleveraging in a bear market will always show the “shady” companies and cryptos.
  2. The first thing I thought about during the whole crisis was you Eli 😭😭😭. All I heard in my head was "Not your keys not your crypto". This is a painful lesson 😁, but you warned them Eli. There's no such thing as a free lunch.

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