Crypto Fears: Celsius Network Freezes Withdrawals
New Jersey-based Celsius, which has around $11.8 billion in assets, offers interest-bearing products to customers who deposit crypto with its platform. It then lends out cryptocurrencies to earn a return
After Celsius’s announcement, bitcoin touched an 18-month low of $22,725, before rebounding slightly to around $23,265. No.2 token ether dropped as much as 18% to $1,176, its lowest since January 2021.