A week after freezing withdrawals, Celsius has canceled its Q&A sessions. It says it is actively working to find a solution.
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- Celsius cancelled its AMA sessions and is working with regulators.
- Four U.S. states are investigating the crypto-lender.
- The company BnkToTheFuture proposed a rescue plan.
Celsius the crypto-lending service that paused its withdrawals last week, continues to search for a solution to its problems; although it has warned that the process could take some time.
In a blog entry del domingo, la firma brindó una actualización a sus clientes después de congelar los retiros la semana pasada, afirmando que su “objetivo sigue siendo estabilizar nuestra liquidez y operaciones“. However, he cautioned that this process “. it will take time ”. Celsius also said it will cancel its question-and-answer (AMA) sessions and assured that it is working with regulators.
As reported by DiarioBitcoin the well-known cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. lending service announced last Sunday that it was stopping withdrawals exchanges and transfers between accounts due to “ extreme market an area or arena, online or offline, in which commercial dealings are conducted. conditions “.
The firm had amassed billions of dollars in client a client is software that can access and process blockchain transactions on a local computer. A common application of this is a cryptocurrency software wallet. assets by offering retail investors an easy way to earn double-digit returns on their cryptocurrency holdings, as it collectsThe Block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain..
No more AMA, for now
In the midst of halting operations, Celsius said in its most recent notice that it was indefinitely cancelling AMA talks and meetings at Twitter Space “ to focus on navigating these unprecedented challenges and seek to fulfill our responsibilities to our community. ”.
According to CoinDesk since its launch in 2018, the firm had published a “ ask me anything ” (AMA) live stream that would reveal the platform’s incoming and outgoing and new registrants. The news about the pause in slots came after the abrupt cancellation of an AMA on Reddit that was scheduled for Friday.
The executive director, Alex Mashinsky, had planned a session that was cancelled minutes before its scheduled time. Shortly thereafter that day, Mashinsky appeared in a short a trading technique in which a trader borrows an asset in order to sell it, with the expectation that the price will continue to decline. In the event that the price does decline, the short seller will then buy the asset at this lower price in order to return it to the lender of the asset, making the difference in profit. video on the company’s YouTube channel with a similar message.
Although it has not provided details about the resumption of operations, Celsius added in his statement that he maintains a “ open dialogue with regulators and officials”. According to a report by CoinDesk , Texas and four other U.S. states are actively investigating Celsius for the decision to stop the withdrawals.
“ As has been a priority since the inception of our company, we maintain an open dialogue with regulators and officials. “ said the New Jersey-based firm.
Rescue plan proposal
While customers are still in the dark about the future of Celsius A recent report revealed that one company has proposed a recovery plan to the lender.
According to Decrypt ,BnkToTheFuturewhich is a global online investment platform, offered him support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. through the deployment of a “ financial innovation “similar to the one used to save the cryptocurrency exchange. Bitfinex . The executive director ofBnkToTheFuture, Simon Dixon, announced about the offer on Saturday in a blog post.
Decrypt remember that, in May 2019, Bitfinex used the token a digital unit designed with utility in mind, providing access and use of a larger crypto economic system. UNUS SED LEO (LEO) to raise $1 billion, selling the freshly minted token in exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. for Tether (USDT) to replace the USD $850 million that the exchange lost to the bank Crypto Capital capital is most commonly defined as the large sum of money you would use to invest. based in Panama. ” That was resolved in 9 months and it worked out very well for depositors. “, says Dixon.
BnkToTheFuture said he would not disclose specific details of the suggested recovery plan before the board of directors of Celsius this list. “ It is my position to offer solutions as we have the experience, the licenses and the technology to do it. “, aggregó Dixon.
I believe traditional finance will not have a timely solution for Celsius as we saw in the past with Mt. Gox that still remains unresolved 10 years later. I believe that this can only be solved with a solution using financial innovation https://t.co/FyF1Qaw6ZE
— Simon Dixon (Beware Impersonators) (@SimonDixonTwitt) June 19, 2022
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Article by Hannah Estefania Perez / DiarioBitcoin
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