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Crypto exchange Celsius suspending all crypto transactions due to extreme conditions

 
Waffles
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06/12/2022 11:39 PM

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Crypto exchange Celsius suspending all crypto transactions due to extreme conditions
lolz so much for getting your money out when shit goes sour..

Crypto lending platform Celsius Networks LLC said Sunday it is pausing all withdrawals, swaps and transfers between accounts, “due to extreme market conditions.”

“We are taking this action today to put Celsius in a better position to honor, over time, its withdrawal obligations,” the New Jersey-based company said in a statement.

Celsius is one of the largest crypto lending companies in the world, at one point claiming more than $20 billion in assets. But it has also run afoul of regulators, and some users have recently blamed Celsius for steep financial losses for encouraging them to hold its CEL digital tokens as collateral for loans — CEL plunged 48% late Sunday, and has lost more than 75% of its value over the past month — and 97% over the past year — according to CoinGecko data.



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Mike Saylor
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06/12/2022 11:46 PM
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Re: Crypto exchange Celsius suspending all crypto transactions due to extreme conditions
I need a drink.
Anonymous Coward
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06/12/2022 11:47 PM
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Re: Crypto exchange Celsius suspending all crypto transactions due to extreme conditions
lol. crypto run.
Anonymous Coward
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06/12/2022 11:47 PM
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Re: Crypto exchange Celsius suspending all crypto transactions due to extreme conditions
Phhhhoooootttoooon toooorpppeeddddooossss awaaaaaaayyyyyyyyyyyyyyyyy!
Anonymous Coward
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06/12/2022 11:48 PM
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Re: Crypto exchange Celsius suspending all crypto transactions due to extreme conditions
But…but…but…..but….it’s backed by…what exactly again, oh yeah used energy.
My Foolish Daydream

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06/12/2022 11:48 PM

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Re: Crypto exchange Celsius suspending all crypto transactions due to extreme conditions
Can I still trade on Fahrenheit?
It's just a bad day, not a bad life. If you run, I will run, until my last breath.
Anonymous Coward
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06/13/2022 12:57 AM
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Re: Crypto exchange Celsius suspending all crypto transactions due to extreme conditions
Can I still trade on Fahrenheit?
 Quoting: My Foolish Daydream


TIO JUAN

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06/13/2022 01:06 AM
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Re: Crypto exchange Celsius suspending all crypto transactions due to extreme conditions
To the moon and beyond ...they said !!

whatever
UNCLE JOHN
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06/13/2022 01:44 AM
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Re: Crypto exchange Celsius suspending all crypto transactions due to extreme conditions
To the moon and beyond ...they said !!

whatever
 Quoting: TIO JUAN


that was for LUNA and Do Kwon's hidden bank account.

.
Anonymous Coward
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06/13/2022 01:48 AM
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Re: Crypto exchange Celsius suspending all crypto transactions due to extreme conditions
I can't believe people buy that crap when the elites are giving us the golden opportunity to buy physical silver for so cheap compared to how inflation has gone nuts.
Lazy Monk

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06/13/2022 03:27 AM
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Re: Crypto exchange Celsius suspending all crypto transactions due to extreme conditions
“We are taking this action today to put Celsius in a better position to honor, over time, its withdrawal obligations,” the New Jersey-based company said in a statement.
 Quoting: Waffles ™


Translation:

"We will not honor our obligations today, but we will definitely honor them at some point in the future. Promise. Please keep trusting us with your money."
Lazy Monk
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06/13/2022 07:05 AM
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Re: Crypto exchange Celsius suspending all crypto transactions due to extreme conditions
wtf
Anonymous Coward
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06/13/2022 07:07 AM
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Re: Crypto exchange Celsius suspending all crypto transactions due to extreme conditions
And this ladies and gentlemen is why you always own the private keys to your Crypto Wallet and never keep it in a Crypto Exchange
Anonymous Coward
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06/13/2022 07:48 AM
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Re: Crypto exchange Celsius suspending all crypto transactions due to extreme conditions
We're sorry for the extreme depletion of your crypto holdings due to recent extreme market condition that made all services suspended and unavailable.

Transaction are now open, users can resume operating their usual transactions.

Thank you for the trust you faithfully put in our platform,

Sincerely yours, the customer service staff.



BLACK GHOST

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06/13/2022 07:53 AM

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Re: Crypto exchange Celsius suspending all crypto transactions due to extreme conditions
This is why you don't keep crypto on an exchange.

Not your keys, not your crypto.
"We demolish arguments and every pretension that sets itself up against the knowledge of God, and we take captive every thought to make it obedient to Christ."
Butch DeFeo
Itz The MonkeyPauxCommyUsurpPocalypse

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06/13/2022 07:57 AM

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Re: Crypto exchange Celsius suspending all crypto transactions due to extreme conditions
But even if your crypto is accessed via a hard wallet, what if NO exchange or broker will convert it to US dollars or another fiat for you?

That will mean you have to SPEND your crypto to BUY things directly.

Crypto will have to be USED, and not just INVESTED in. What a concept.

Crypto that are not shitcoins, that is.

Last Edited by Butch DeFeo on 06/13/2022 07:57 AM
ENDTHESHUTDOWN77redblueLEDDONTBEAPANDEMICS
Only you can stop the fake pandemic for yourself, no one will ever tell you the pandemic is over. It's time to WIN.
Itz The MonkeyPauxCommyUsurpPocalypse - Pronounced "MONKEY POE COMMY YOU SIR POCKA LIPS"
BLACK GHOST

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06/13/2022 09:00 AM

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Re: Crypto exchange Celsius suspending all crypto transactions due to extreme conditions
But even if your crypto is accessed via a hard wallet, what if NO exchange or broker will convert it to US dollars or another fiat for you?

That will mean you have to SPEND your crypto to BUY things directly.

Crypto will have to be USED, and not just INVESTED in. What a concept.

Crypto that are not shitcoins, that is.
 Quoting: Butch DeFeo


We have defi for that.

Ledger to XRPtoolkit.

Moneygram connected to Lobstr wallet.
"We demolish arguments and every pretension that sets itself up against the knowledge of God, and we take captive every thought to make it obedient to Christ."
Johnny2time
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06/13/2022 09:22 AM
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Re: Crypto exchange Celsius suspending all crypto transactions due to extreme conditions
Watch BITSHIT go right down to ZERO!

This week, or at least back to 5k! LOL's.
Anonymous Coward
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06/13/2022 09:23 AM
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Re: Crypto exchange Celsius suspending all crypto transactions due to extreme conditions
Watch BITSHIT go right down to ZERO!

This week, or at least back to 5k! LOL's.
 Quoting: Johnny2time 66643567


This is when the short squeeze happens
gonna be biblical
Johnny2time
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06/13/2022 09:27 AM
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Re: Crypto exchange Celsius suspending all crypto transactions due to extreme conditions
Watch BITSHIT go right down to ZERO!

This week, or at least back to 5k! LOL's.
 Quoting: Johnny2time 66643567


This is when the short squeeze happens
gonna be biblical
 Quoting: >++('>


Oh ya, for sure! I expect bitshit to go below 5k this week! Especially after the Fed rate hike on Wednesday, could be a .075 point increase. This will wipe bitshit off the face of the planet!
Anonymous Coward
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06/13/2022 09:31 AM
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Re: Crypto exchange Celsius suspending all crypto transactions due to extreme conditions


Oh ya, for sure! I expect bitshit to go below 5k this week! Especially after the Fed rate hike on Wednesday, could be a .075 point increase. This will wipe bitshit off the face of the planet!
 Quoting: Johnny2time 66643567


it wont even go past 20k before the shorts (try) and cover.. but what if binance has a whoopsie and futures are halted?

crisco
Butch DeFeo
Itz The MonkeyPauxCommyUsurpPocalypse

User ID: 83141632
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06/13/2022 09:31 AM

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Re: Crypto exchange Celsius suspending all crypto transactions due to extreme conditions
But even if your crypto is accessed via a hard wallet, what if NO exchange or broker will convert it to US dollars or another fiat for you?

That will mean you have to SPEND your crypto to BUY things directly.

Crypto will have to be USED, and not just INVESTED in. What a concept.

Crypto that are not shitcoins, that is.
 Quoting: Butch DeFeo


We have defi for that.

Ledger to XRPtoolkit.

Moneygram connected to Lobstr wallet.
 Quoting: BLACK GHOST


Noted. Thanks.
ENDTHESHUTDOWN77redblueLEDDONTBEAPANDEMICS
Only you can stop the fake pandemic for yourself, no one will ever tell you the pandemic is over. It's time to WIN.
Itz The MonkeyPauxCommyUsurpPocalypse - Pronounced "MONKEY POE COMMY YOU SIR POCKA LIPS"
Anonymous Coward
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06/13/2022 09:32 AM
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Re: Crypto exchange Celsius suspending all crypto transactions due to extreme conditions
I can't believe people buy that crap when the elites are giving us the golden opportunity to buy physical silver for so cheap compared to how inflation has gone nuts.
 Quoting: Anonymous Coward 80247695


Then, they will declare silver to be a vital, strategic metal, and order nationwide (any nation) confiscation of physical, and nationalization of all mines.

Turn in all your physical silver, to be purchased by the government with worthless, infinite bennybux, or face 20 years in jail and a confiscation of all your assets.

lflashdrevillflash
Anonymous Coward
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06/13/2022 09:33 AM
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Re: Crypto exchange Celsius suspending all crypto transactions due to extreme conditions
Investing in air was a bad move. The real power isn't going to give up it's power.

Suckers!
Anonymous Coward
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06/13/2022 09:34 AM
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Re: Crypto exchange Celsius suspending all crypto transactions due to extreme conditions
I can't believe people buy that crap when the elites are giving us the golden opportunity to buy physical silver for so cheap compared to how inflation has gone nuts.
 Quoting: Anonymous Coward 80247695


Then, they will declare silver to be a vital, strategic metal, and order nationwide (any nation) confiscation of physical, and nationalization of all mines.

Turn in all your physical silver, to be purchased by the government with worthless, infinite bennybux, or face 20 years in jail and a confiscation of all your assets.

lflashdrevillflash
 Quoting: Anonymous Coward 82698312


Tricky Dicks!
Anonymous Coward
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06/13/2022 10:39 AM
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Re: Crypto exchange Celsius suspending all crypto transactions due to extreme conditions
cryptotards never learn
jlee2027

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06/13/2022 10:58 AM
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Re: Crypto exchange Celsius suspending all crypto transactions due to extreme conditions
So, they took your money/crypto, borrowed against it using it as collateral, and now, that redemptions are overwhelming, cannot pay you.

Something like that...
Anonymous Coward
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06/13/2022 11:13 AM
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Re: Crypto exchange Celsius suspending all crypto transactions due to extreme conditions
What they are saying is they don't have all the bitcoin they sold. That's the problem with centralized exchanges.

Don't use them to store your Btc or any other crypto.
Anonymous Coward
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06/13/2022 11:15 AM
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Re: Crypto exchange Celsius suspending all crypto transactions due to extreme conditions
So, they took your money/crypto, borrowed against it using it as collateral, and now, that redemptions are overwhelming, cannot pay you.

Something like that...
 Quoting: jlee2027


Exactly this!!! clappa
BoneTrout

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06/13/2022 11:18 AM

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Re: Crypto exchange Celsius suspending all crypto transactions due to extreme conditions
lol. crypto run.
 Quoting: Anonymous Coward 83444903


This going to fk banks too. People just don't get it.
All my post are theatrical artistic writing .
Anonymous Coward
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06/13/2022 11:24 AM
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Re: Crypto exchange Celsius suspending all crypto transactions due to extreme conditions
[link to www.thestreet.com (secure)]

[link to twitter.com (secure)]





GLP