What are the reasons behind Celsius, a crypto lender, pausing withdrawals due to extreme market conditions?

3 answers

• Dec 26, 2021 · 3 years ago
  Celsius, like many other crypto lenders, has paused withdrawals due to the extreme market conditions. The recent volatility and uncertainty in the crypto market have made it difficult for lenders to accurately assess the risk associated with lending and withdrawals. By temporarily suspending withdrawals, Celsius aims to protect its users' funds and ensure the stability of its platform. This decision is a precautionary measure to prevent any potential losses that could occur during these turbulent times.
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• Dec 26, 2021 · 3 years ago
  Well, it seems that Celsius is just being cautious and taking necessary steps to mitigate any potential risks. With the recent market fluctuations and uncertainty, it's understandable that they want to ensure the safety and stability of their platform. By temporarily pausing withdrawals, they can assess the situation and make informed decisions to protect their users' assets. It's always better to be safe than sorry, especially in such a volatile market.
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• Dec 26, 2021 · 3 years ago
  As a crypto lender, Celsius is committed to providing a secure and reliable platform for its users. The extreme market conditions, characterized by rapid price fluctuations and high volatility, have raised concerns about the stability of the crypto market. In order to protect its users' funds and maintain the integrity of its platform, Celsius has decided to temporarily suspend withdrawals. This decision allows them to reassess the risk associated with lending and withdrawals and ensure that their users' assets are not exposed to unnecessary risks. It's a responsible move to ensure the long-term sustainability of the platform.
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