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Celsius pauses all withdrawals, claims it's due to "extreme market conditions"

June 12, 2022
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Celsius pauses all withdrawals, claims it's due to "extreme market conditions" The Celsius platform announced that they would be pausing all withdrawals, swaps, and transfers due to "extreme market conditions". There has been a lot of concern lately about Celsius' reserves and its ability to honor redemptions, with some speculating that the platform might be underwater and forced to default. Celsius released a blog post on June 7 titled, "Damn the Torpedoes, Full Speed Ahead" where they accused "vocal actors" of "spreading misinformation and confusion", and promised that "Celsius continues to process withdrawals without delay", and that "Celsius has the reserves (and more than enough ETH) to meet obligations". Celsius' June 12 announcement did not include any details on what their plans would be, just that they hoped it would allow them to "stabilize liquidity and operations while we take steps to preserve and protect assets".

Celsius pauses all withdrawals, claims it's due to "extreme market conditions"

The Celsius platform announced that they would be pausing all withdrawals, swaps, and transfers due to "extreme market conditions".
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