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 May 11, 2023 at 6:49 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

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.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.

Oliver Knight

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


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.