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Video - Peter Schiff debate with CEO of Celsius from November 2021: Celsius withdrawals still halted after a week - June 20, 2022
Crypto lending firm Celsius asks users for more time to fix issues after halting withdrawals
PUBLISHED MON, JUN 20 20228:18 AM EDT
Embattled cryptocurrency lending firm Celsius has asked users to give it more time to stabilize liquidity and operations.
Celsius halted withdrawals for customers last week due to “extreme market conditions.”
The cryptocurrency market has seen billions of dollars of value wiped off in the last few weeks, with bitcoin falling below the $20,000 mark over the weekend, hitting a number of companies.
"...there’s an obvious contest that’s happening between different sectors of the colonial ruling class in this country. And they would, if they could, lump us into their beef, their struggle." ---- Omali Yeshitela, African People’s Socialist Party
(My posts are not intended as advice or professional assessments of any kind.) Never forget Excalibur.
If withdrawals are frozen, customers can not sell. What would be the real $ valuation of some of these currencies today if depositors could get their $ out of the various exchanges?
CoinFLEX Follows Celsius in Suspending Withdrawals
Voyager cuts limit amid 3AC exposure. AND Coinbase is going to offer derivatives aimed a regular people. What? Hedging against an electronic ledger sheet entry?
Coinbase Launches First Crypto Derivatives Product Aimed at Retail Traders
Coinbase Derivatives Exchange hopes to capitalize on a market that is $3 trillion in volume worldwide and provide hedging options for traders.
At the risk of getting some hate I am going to say that governments will not allow commercial crypto currencies to exist - medium and long term. They are all developing their own government cryptos and they will outlaw the use of anything else by their citizens. IMHO. The governments do not want to lose control of the financial systems. They simply will not allow it.
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