Cryptocurrency News
Celsius Network has made a significant move by burning a substantial portion of its CEL tokens, totaling 652.2 million CEL, equivalent to $85.75 million. This action represents a staggering 93.7% of the total CEL supply, effectively reducing the current total supply to 40.6 million CEL, as reported by CoinGecko. Following […]
In recent months, a number of “black swan” incidents have shaken the cryptocurrency space, resulting in the loss of billions of dollars in investor assets. The top 4 most recent events are listed below: TerraUSD’s Demise The TerraUSD (UST) stablecoin crashed in May 2022, wiping out investor cash worth billions […]
According to a recent lawsuit, cryptocurrency lender Celsius allegedly manipulated the price of its digital coin, failed to manage its risks, and engaged in fraud. Due to the rapid emergence and decline of the cryptocurrency market, Celsius decided to suspend its withdrawals last month. The DFR of Vermont stated that […]
It’s been eight days since Celsius Network Halted Swaps, Transfer, and Withdrawal, citing extreme market conditions. This came as the Crypto Market was experiencing a massive sell-off that saw Bitcoin hitting $17k low levels. Celsius had reportedly stopped users from withdrawing from the network, which caused some uproar in the […]
The crypto-lending firm Celsius, which offers high-yield returns on user deposits, appears to be the latest to falter in the face of tightening financial conditions. It also came barely one month after the Terra-Luna stablecoin network collapsed. Background Celsius Network is a blockchain-based lending platform accessible through a free mobile […]