Celsius

Tracy Wang / CoinDesk: Sources: Goldman Sachs is looking to raise $2B from investors to buy up distressed assets from troubled crypto lender Celsius in the event of a bankruptcy — The Wall Street firm is seeking $2 billion in commitments from investors to buy distressed assets at steep discounts if the crypto lender goes bankrupt. Tracy Wang / CoinDesk: Sources: Goldman Sachs is looking to raise $2B from investors to buy up distressed assets from troubled crypto lender Celsius in the event of a…

Celsius CEO Alex Mashinsky.Piaras Ó Mídheach | Sportsfile for Web Summit | Getty ImagesEmbattled cryptocurrency lending firm Celsius has asked users to give it more time to stabilize liquidity and operations after the market downturn caused the firm to freeze withdrawals for its customers.The cryptocurrency market has seen billions of dollars of value wiped off in the last few weeks, with bitcoin falling below the $20,000 mark over the weekend.Celsius offers high yields to users who deposit their crypto with the company…

Celsius Blog: After pausing withdrawals last week, Celsius asks for more time to stabilize its liquidity and operations and halts Twitter Spaces and AMAs — It has been one week since we paused withdrawals, Swap, and transfers. We want our community to know that our objective continues to be stabilizing our liquidity and operations. Celsius Blog: After pausing withdrawals last week, Celsius asks for more time to stabilize its liquidity and operations and halts Twitter Spaces and AMAs …

Crypto was all the rage in 2021. This week, it came crashing down.The tailspin started late Sunday. One of the largest crypto lending platforms, Celsius Network LLC, unexpectedly told customers that it was pausing all withdrawals, swaps and transfers between accounts due to extreme market conditions. Celsius customers panicked, and people with money in other crypto platforms started to wonder if they would be next. The anxiety spread quickly. Prices for bitcoin and ether tumbled about 15% on Monday and…

The crypto industry is cratering. Bitcoin prices are at their lowest since 2020; one platform has barred users from withdrawing funds, and many of the biggest crypto companies, including Coinbase and BlockFi, have announced layoffs. This disruption reflects the economic turmoil rippling through the broader market, but also serves as a stark warning to everyday people that, generally speaking, crypto can be valuable one day and worthless the next. Although the companies that people use to buy and store crypto are in…

This week has revealed to the average investor just how interconnected cryptocurrency firms are. Two firms have frozen withdrawals, and a cryptocurrency hedge fund is in trouble. Celsius Network, Babel Finance, and Three Arrows Capital are floundering, and it’s not yet clear how extensive the damage may be. All three firms managed other peoples’ money This week started with a Sunday night announcement from the Celsius Network, a gigantic crypto lending company, that it would pause withdrawals and transfers. After that,…

A few months ago, Mike Washburn’s cryptocurrency investment looked like a winner.Now he’s just hoping to get his money back.Mr. Washburn, a 35-year-old plumber in Otsego, Minn., had $100,000 in an account at Celsius Network LLC, one of the largest lenders in the cryptocurrency world. Recently widowed, Mr. Washburn said he and his two children moved in with his parents, and he planned to buy a house with his savings. The Celsius account offered him yield higher than would a traditional bank account, and the company was…

Crypto lender Celsius Network opted to freeze customer withdrawals and other transactions on Sunday, leaving its nearly two million users unable to access their funds. Now, state security boards in Alabama, Kentucky, New Jersey, Texas and Washington have launched probes into Celsius, Reuters reports. The SEC has also been in contact with the firm. Engadget has reached out to the agency and will update if we hear back.  This isn’t the first time the crypto lender has run into trouble with and federal officials. Multiple…

Bitcoin steadied after earlier hitting a new 18-month low, as major crypto lender Celsius Network's freezing of withdrawals and the prospect of sharp U.S. interest rate rises shook the volatile asset class. Bitcoin clawed its way to positive territory after much as 7.3 percent overnight to $20,816, its lowest since Dec. 2020. It was last hovering around $22,470. The world's largest cryptocurrency fell 15 percent earlier, its sharpest one-day drop since March 2020. It has shed about half its value this year and over 20…

Wall Street Journal: Source: crypto lender Celsius Networks is looking for financing options from investors and exploring other strategic alternatives, like financial restructuring — Celsius Network, among the largest crypto lenders, has paused user accounts, citing extreme market conditions Wall Street Journal: Source: crypto lender Celsius Networks is looking for financing options from investors and exploring other strategic alternatives, like financial restructuring — Celsius…