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BREAKING: DeFi lending giant Celsius halts withdrawals by whatsup

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· @whatsup ·
$59.80
BREAKING: DeFi lending giant Celsius halts withdrawals
# Celsius - DEFI Lending Platform, Halting Most Operations, Due To Liquidity Issues

Hey Everyone,

It's been a bloody crypto Sunday, and worse for some than others, several liquidity issues are cropping up amongst various crypto platforms, with the most notable being Celsius.

![image.png](https://images.hive.blog/DQmS1WW2ybUqEBVKssa7Q9pNaWqyod7g46WHvMu6eN9jTx7/image.png)

About 4 hours ago, Celsius tweeted the following notice to it's customers.

"Celsius Network is pausing all withdrawals, Swap, and Transfers between accounts."


![image.png](https://images.hive.blog/DQmSy67DNaU9DfX68aEmr9nUQJwYacbUA6dcHHeHbSK82Lx/image.png)[twitter link](https://twitter.com/CelsiusNetwork/status/1536169010877739009?s=20&t=qulSdUACogbY88GlmVFX-Q)

As of this writing the price is currently .1946 having lost over 50 percent of it's value today.

![image.png](https://images.hive.blog/DQmRPdUvAaEvivMeQzo977uGwUd8Jya466R32kQhndsuuEm/image.png)

![image.png](https://images.hive.blog/DQmcqZc5jqtSzoxH8vfnfVq6panQSi2vHF274VNeomX6Ab3/image.png)

The year to date chart is painful!

As if the idea of another large crypto project failing right after Luna, there is even more bad news in this situation.

![image.png](https://images.hive.blog/DQmbwEcip4mPN1mL6qh2zrhL6r2fjFgo4ebWFmGHchCamtg/image.png)
[This Article](https://www.theverge.com/2022/6/13/23165401/defi-cryptocurrency-celsius-network-pause-withdrawals)

This Article stats that Celsius impacts a broad spectrum of crypto projects including owing money to Tether and being held by one of Canada's larges pension fund.

How will jumpy crypto investors take the Celsius news, as many are still enjoying the weekend, in other time zones this bad news will hit early Monday Morning.

Currently Bitcoin is trading at $$25,388.527 down 7%  and ETH is Holding above $1,200 at $1333.07


![image.png](https://images.hive.blog/DQmReCSdYWVDvTMtUCpdsi8HWYbrmd12iGKP3QbEf8cpqS5/image.png)

The Bitcoin Crypto Fear and Greed rating is currently at 11, Extreme Fear.  The lowest I have ever seen it is 8.

Just as with the Luna crash, the entire market is currently feeling the pain of another major project having trouble.

There are other platforms also experiencing Liquidity problems, but none as big as Celsius.

No idea, if tomorrow bring more problems and sell offs, or if we see a recovery, all bear drops end in a swift and pain dump, so maybe we are close to a bottom for now, but who knows.

Tell me your thoughts in the comments.

@whatsup 



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@acesontop ·
$0.03
RE: BREAKING: DeFi lending giant Celsius halts withdrawals
Situations like this one are another lesson for the avid profit seekers who refuse to take custody instead of using such platforms. BTC to $22k soon...

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@fabian98 ·
Totally true bro, since the best thing to do is to have the power on your own.

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@whatsup ·
Yeah, things are so messy all sorts of painful lessons being learn.  Yikes.

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@adedayoolumide ·
I think is a good way to stabilize there liquidity

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@afterglow ·
That is indeed painful, down 50% is not the chart hodlers wanted to see.
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@fabian98 ·
But if you look at the long term, it is an excellent opportunity, as the capital can grow that 50% when the price normalizes.

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@afterglow ·
I agree (^_^)
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@whatsup ·
Recession and crypto drop, going to be interesting to see how long it takes to correct.

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@afterglow ·
$0.02
Interesting indeed, can't wait to see when it starts to correct. Good evening!
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@b0s ·
$0.02
RE: BREAKING: DeFi lending giant Celsius halts withdrawals
With all the Fud around the crypto space the last thing we need is another crash. 

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@whatsup ·
I say rip off the bandaide break the bad projects and move forward!  :)  The economic gloom people are feeling can't and will not last, people adapt to new conditions.  First we have to have the pain, then the healing begins.

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@b0s ·
$0.03
RE: RE: BREAKING: DeFi lending giant Celsius halts withdrawals
Yeah people move on really fast, if bitcoin were to move to 100k tomorrow everyone would forget today happened. No pain no gain I guess 😁

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@belemo ·
I read one interesting thread that summarised the situation and basically, Celcius bit more than they could chew. 



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@bitcoinflood ·
$0.03
These sell offs are for sure kicking out the bad eggs in the industry. Promising high APRs is not sustainable on any level and people got seriously greedy. This quick correction will send shockwaves but it will finally get us to ground level again so we can rebuild with legitimate projects.

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@whatsup ·
$0.03
End of BullSeason was crazy, defi, nfts, high interest, airdrops.. WEEEEEEEEEEEEEEE

But there is always a time to find out what projects are serious and can be sustained. 

Like nature, finance has a funny way of killing the weak.

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@bitcoinflood ·
Yep exactly the cycle of business and really all things.
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@cryptoandcoffee ·
Have to see this as a positive as anything that is failing this test is not an investment. How fragile are these ponzi schemes and how much research have people done? The true test is now and will be an interesting watch.  

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@cryptobeautiful ·
$0.02
These and other crypto Ponzi schemes will fall apart as the price of BTC continues to fall.
👍  
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@fabian98 ·
The reality is that one thing leads to another, and this is one result.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@fabian98/re-cryptobeautiful-75a1c9)
👍  
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@cryptobeautiful ·
Therefore, all these weak projects should fail.
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@whatsup ·
Time will tell, but they certainly are adding fear and stress to the space.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@whatsup/re-cryptobeautiful-f3yza)
👍  
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vote details (1)
@cryptoguitar9999 ·
$0.02
It looks like Nexo is offering to buy out Celsius which is providing a glimmer of hope to those with their funds locking into the Celsius platform. As bad as things look now this isn't another Terra Luna which just kept minting tokens and dumping them on the market as it spiraled down. No one stepped up to buy out Terra Luna. I'd say this is a good sign that Nexo is willing to buy them out and take over their operations while recapitalizing them. 

The stock market is getting hammered and the crypto market is under a lot of pressure as well adding to the fear but this will eventually settle out and recover. 
👍  
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vote details (1)
@drax.leo ·
$0.02
We still have to see how would US markets react to it at this moment (UTC 10:52). We might get some sort of consolidation and perhaps little bounce later in the day.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@drax.leo/re-whatsup-2qz3jz)
👍  
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@fabian98 ·
There is so much fear and panic that it looks like everything will go downhill even more.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@fabian98/re-drax-leo-jwhkl)
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@enforcer48 ·
$0.03
If one still doesn’t believe we are in the bear, one’s beyond salvation. 
👍  , ,
👎  ,
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@whatsup ·
$0.06
Much Bear!

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@whatsup/re-enforcer48-5b7lq2)
👍  
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@enison1 ·
Well. I just bought some RUNE at $2.  We’ll see how horrible the market will possibly get by the end of the week. 

Kind regards. 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@enison1/re-whatsup-49ek3n)
👍  
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@fabian98 ·
The ATOM is also at a gift price.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@fabian98/re-enison1-3qkefz)
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@fabian98 ·
Well, this news only adds fuel to a flame that they are trying to contain, since extreme fear is the worst enemy.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@fabian98/re-whatsup-2kxnc9)
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@gangstalking ·
They literally have attempted my murder and are trying to kill me with V2K and RNM. Five years this has been happening to me, it started here, around people that are still here. Homeland security has done nothing at all, they are not here to protect us. Dont we pay them to stop shit like this? The NSA, CIA, FBI, Police and our Government has done nothing. Just like they did with the Havana Syndrome, nothing. Patriot Act my ass. The American government is completely incompetent. The NSA should be taken over by the military and contained Immediately for investigation. I bet we can get to the sources of V2K and RNM then. https://ecency.com/fyrstikken/@fairandbalanced/i-am-the-only-motherfucker-on-the-internet-pointing-to-a-direct-source-for-voice-to-skull-electronic-terrorism ..... https://ecency.com/gangstalking/@acousticpulses/electronic-terrorism-and-gaslighting--if-you-downvote-this-post-you-are-part-of-the-problem if you run into one of them you may want to immediately shoot them in the face. 187, annihilate, asphyxiate, assassinate, behead, bleed, bludgeon, boil, bomb, bone, burn, bury, butcher, cap, casket, choke, chop, club, crucify, crush, curb, decapitate, decimate, deflesh, demolish, destroy, devein, disembowel, dismember, drown, electrocute, eliminate, end, euthanize, eviscerate, execute, explode, exterminate, extinguish, finish, fry, grind, guillotine, gut, hack, hang, hit, ice, implode, incinerate, kill, liquidate, lynch, massacre, maul, microwave, mutilate, neutralize, obliterate, off, pop, poison, punnish, quarter, ruin, shank, shock, shoot, shred, skin, slay, slaughter, smoke, smother, snipe, snuff, squish, stab, strangle, stone, suffocate, suicide, SWAT, swing, terminate, torture, terrorize, whack, waste, wreck. You better fucking kill me.
👎  
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@ganjafarmer ·
$0.04
Take advantage of the low prices by buying hard and of course keep trading to keep the volume up....

But for every drop in price that also means that this is an opportunity. If you can trade both ways you're just going to continue making a larger steak.

And on top of it keep diversifying and growing! 

It's not all bad because in most instances when the price goes down you make more. And right now I am making 100% more Bitcoin per hour then I was when the price was high. So I am just really stacking as hard and as fast as I can. 

There's opportunities in everything if you are careful. Hang tight cryptocurrency isn't going away anytime soon.
👍  
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@alokkumar121 ·
Do you think buying CEL is good idea ?
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@ganjafarmer ·
Buying everything at the bottom of the dip is a good idea.....
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@fabian98 ·
Exactly, this is the best buying opportunity, as prices are back to where they were some time ago, many investors bought at $23K so the price will start to rise slowly.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@fabian98/re-ganjafarmer-3ki7om)
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@ganjafarmer ·
If you've been playing this game as long as you have you absolutely see the utility and the opportunity. What goes up does go down however when it goes down especially for artificial reasons there will be a rebound.

So I see continual leveraging to increase your holdings right now as really smart! 

One of these days hopefully we will break the tether to bitcoin. 

Until then I'm just going to hang on and relax. 
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@whatsup ·
I'm much more of a hodler than a trader, but good luck to those who are trading this.

I do have some USD, waiting for an opportunity to buy back into Bitcoin

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@whatsup/re-ganjafarmer-vnaed)
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@ganjafarmer ·
$0.02
Really doesn't matter. I bet you are better off holding and following your strategy long-term then the people who are melting down crying about the losses for today...

However you like smart people are seeing this as opportunity and potential to increase positions... Oops... Big moves.... LoL

I have no doubt that cryptocurrency is here to stay so let's see what all happens. 

I just imagine everybody who bought in at $60,000 apiece... 

However I keep trying to tell people if they know how to make more and improve their position going down as well as going up... You are set. The volatility of this market is perfect. 

However a lot of people only know how to take advantage of the system when it goes up. 

I'm just going to hang tight and increase my holdings!!!! Hodl hard?!?!!!!
👍  ,
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@heskay ·
Well one will think about that, is the market going down or going to crash but one thing I strongly believe is that the market can still pick up back but who knows what tomorrow holds ??

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@heskay/re-whatsup-4vvbvt)
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@howzat · (edited)
.
👍  
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@idiosyncratic1 ·
$0.02
Celsius is in trouble! Basically, "smart money" wants to do what they did to USDN and UST before. stETH issue, Alameda FUD, and decreasing credibility of the platform are too strong to destroy the repetition of the company.

I hope no single investor is hurt because of the terrible operations by Celsius. 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@idiosyncratic1/re-whatsup-69v9uk)
👍  
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vote details (1)
@whatsup ·
Well Sadly, it looks like a lot of investors are going to get hurt, and we don't know how far the ripple/after shocks go.

Crazy times.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@whatsup/re-idiosyncratic1-2tncgf)
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@drax.leo ·
Some relatively big names among crypto influencers report pain this morning (10:51 UTC). 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@drax.leo/re-whatsup-25o6es)
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@fabian98 ·
$0.02
Well luna teaches us that they can be beyond the ground.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@fabian98/re-whatsup-2uydqr)
👍  
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@johnripper ·
$0.04
I withdrew everything out of Celcius when the terra luna thing happened.  Now I am really glad that I did.  Not your keys = Not your wallet or money. 
👍  ,
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@forexbrokr ·
Not your keys, not your crypto! 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@forexbrokr/re-johnripper-5cvp8z)
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@whatsup ·
WOW!  Nice job.  I was never in it, but I'm sure glad you got on and JUST on time.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@whatsup/re-johnripper-5jmusj)
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@lebah ·
that is the red bloody week, defi platform will colapse because their collateral assets is btc
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@muratkbesiroglu ·
$0.02
I hope the problem with Celsius will be solved and investors will withdraw their funds.

Celsius is a centralized landing platform I suppose. Decentralized ones are more transparent and our funds are in our control. I am more than happy to use AAVE.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@muratkbesiroglu/re-whatsup-gtqzm)
👍  
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vote details (1)
@fabian98 ·
As long as they don't come out after there has been a hack, because when things like that happen that phrase becomes common.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@fabian98/re-muratkbesiroglu-fe4hc)
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@whatsup ·
Yeah, hopefully they sort it out.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@whatsup/re-muratkbesiroglu-6wkwbi)
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@whatsup ·
It looks like they are working on it.
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@nonameslefttouse ·
$0.13
*Should have used Fahrenheit...*
👍  , , ,
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@boscohage ·
$0.11
You have a point.
👍  
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@dalz ·
$0.13
Kelvin is the standard ... take a look at SI duh
👍  ,
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@enison1 ·
$0.17
Lmao 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@enison1/re-nonameslefttouse-3hzubm)
👍  
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@whatsup ·
$0.11
🤓 lol, or anything else really!
👍  
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vote details (1)
@rentmoney ·
$0.02
!gif buy the dip

Thanks for the info.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@rentmoney/re-whatsup-3g5byq)
👍  ,
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vote details (2)
@hivegifbot ·
<center>https://media.tenor.com/images/d992e248b59e416fac1418311a3c3c32/tenor.gif
[Via Tenor](https://tenor.com/)</center>
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@theguruasia ·
Use stables to buy crypto now, who does this the other way, end up pain in the a$$. 

$WINE
👍  
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vote details (1)
@wine.bot ·
<center>
<sup>Congratulations, @theguruasia You Successfully Shared <b>0.100</b> <b>WINEX</b> With @whatsup.</sup>
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---
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</center>
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@urun ·
$0.03
![untitled.gif](https://media.tenor.com/images/8c0074dfffb73714eac33733f4a3bebb/tenor.gif)
👍  
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vote details (1)