Celsius announces all trading and withdrawals have been haltedblog.celsius.network/a-memo-to-the-celsius-community-59532a06ecc6
310 sats \ 10 comments \ @cryptocoin 13 Jun 2022 bitcoin
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130 sats \ 0 replies \ @EnormousPony 13 Jun 2022
The 2022 bitcoin winter will be about the collapse of DeFi
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51 sats \ 0 replies \ @lv99_slacker 13 Jun 2022
People were warned. Cory Klippsten vindicated.
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21 sats \ 1 reply \ @fiatjaf 13 Jun 2022
I had never even heard of this Celsius thing.
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31 sats \ 0 replies \ @kilianbuhn 13 Jun 2022
Same, always hearing about shitcoin stuff first on the day they collapse 😂😂
Who is DoKwan? What is Celsius? Terra what? 😂😂
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21 sats \ 0 replies \ @siggy47 13 Jun 2022
Every exchange is going to be suspect, regardless of how well they are run or how "un-celsius" their practices. I got into bitcoin late and felt, like many, that I missed the boat for getting a substantial stack. Well, here's our chance if we have the nerve.
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20 sats \ 0 replies \ @TheBTCManual 13 Jun 2022
Ouch, that's going to hurt, they sure are unbanking people once you have no money you wont need a bank, people need to learn chasing yield is a shitcoin gimmick and even bitcoin on these platforms are taking shitcoiner risk
Its sad that people have to continue to learn these lessons but I guess its all part of the journey
I see Nexo have offered to buy their books, wonder how thats going to go down
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20 sats \ 0 replies \ @jp 13 Jun 2022
In the event you're confused: https://twitter.com/SmallCapScience/status/1535097594187087872
Celsius Wallet: https://zapper.fi/account/0x8aceab8167c80cb8b3de7fa6228b889bb1130ee8?tab=dashboard
As of 1:20am EST, wallet holds $634M AUM with 83% of it in a stETH liquidity pool (currently undergoing a depeg from ETH) and $550M of debt.
If a run on CN continues, a bunch of people are going to get rekt.
JFC, stop chasing bullshit yield.
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20 sats \ 0 replies \ @faithandcredit 13 Jun 2022
Dissapointing. Their motto is literally "Unbank yourself" and its supposed to be DeFi. This is not supposed to be happening.
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0 sats \ 0 replies \ @cryptocoin OP 13 Jun 2022
There are more comments on this insolvency by Celsius in another post, here on SN:
April 2022: Celsius Holds 150,000+ BTC. June 2022: Celsius Withdrawals Frozen. #35950
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0 sats \ 0 replies \ @cryptocoin OP 13 Jun 2022
We have activated a clause in our Terms of Use that will allow for this process to take place. Celsius has valuable assets and we are working diligently to meet our obligations.
There is a lot of work ahead as we consider various options, this process will take time, and there may be delays.
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