Cryptocurrency Lender Celsius Files For Bankruptcy As Customers Fear For Their Money
The Celsius Network was one of the first big casualties of the crypto crash following the collapse of TerraUSD. The decentralized finance (DeFi) platform, which operated by collecting customer deposits that it loaned out to others to earn a return, froze account withdrawals and transfers last month due to “extreme market conditions.” Celsius said customers would “accrue rewards” during the pause, though receiving any interest on the held crypto seems like wishful thinking right now....