Celsius Network Pauses AMAs, With Customers Left in the Dark Over Withdrawals

Celsius has not yet provided an update on the status of withdrawals from its platform as regulators investigate.

AccessTimeIconJun 20, 2022 at 2:07 p.m. UTC
Updated Jun 20, 2022 at 4:02 p.m. UTC

Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

Celsius Network, the crypto lending platform that halted customer withdrawals last week, has paused YouTube question and answer sessions and Twitter Spaces as it "navigates unprecedented challenges," according to an announcement.

  • "We want our community to know that our objective continues to be stabilizing our liquidity and operations. This process will take time," the announcement read.
  • Since its launch in 2018, Celsius has held a live "ask-me-anything" (AMA) that would reveal the platform's inflows, outflows and new registrants.
  • CEO Alex Mashinsky had planned to be on such a session on Friday before it was canceled minutes before its scheduled time.
  • Celsius customers, many of whom still have substantial amounts of capital locked on the platform, have not received any form of update from the lender following last week's freeze.
  • Texas and four other states are actively investigating Celsius over the decision to halt withdrawals.
  • "As has been a priority since our company’s inception, we maintain an open dialogue with regulators and officials," the statement added.

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Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

CoinDesk - Unknown

Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.