paisawaisa
Elite Member
- Mar 23, 2022
- 3,972
- 1,083
Can binance also follow this? It will be end of crypto.
Celsius Halted the withdrawls
- Thread starter anti_dote
- Start date
- Nov 16, 2011
- 19,792
- 11,285
Every time there is some issue with crypto. Just imagine keeping all crypto there and them freezing all the holdings.
sci0n
Junior Member
- Oct 21, 2021
- 144
- 183
Celsius cannot afford losing the liquidity now. They need the money to keep their DeFi loans afloat, if people start withdrawing funds they will go bankrupt.
The best thing they can do now is to keep the funds locked up, borrow additional money and earn more money on low risk trades.
One Bitfinex whale possibly defended some of his losing positions thanks to the fact that Tether depegged. Buying Tether on an exchange at 0.94 USD and selling it to OTC firms for 1 USD in large volumes makes good money.
So the longer Celsius holds the better their chance, same for 3AC - assuming they are actively trying to get out of the mess. If there is true to the FUD and Tether has problems, then it's all properly fucked.
The best thing they can do now is to keep the funds locked up, borrow additional money and earn more money on low risk trades.
One Bitfinex whale possibly defended some of his losing positions thanks to the fact that Tether depegged. Buying Tether on an exchange at 0.94 USD and selling it to OTC firms for 1 USD in large volumes makes good money.
So the longer Celsius holds the better their chance, same for 3AC - assuming they are actively trying to get out of the mess. If there is true to the FUD and Tether has problems, then it's all properly fucked.
anti_dote
Supreme Member
- Dec 20, 2009
- 1,375
- 356
What I learnt is, not your keys not your coins.
sci0n
Junior Member
- Oct 21, 2021
- 144
- 183
that was a tuition well spent
lotsofmoney
Elite Member
- Aug 31, 2021
- 3,899
- 1,141
That is why one should keep crypto in private wallets and not on exchange.
FluffyB
Newbie
- Jun 18, 2022
- 20
- 7
The problem is not that Celsius don't want to give you the money. It's that THEY DONT HAVE IT. They spent all in paying expenses, advertising costs, infrastructure costs, employees costs and so on. So, they don't have enough to pay out to ALL of you at the SAME time.