Crypto lending platform Celsius has suspended withdrawals on its platform, citing market conditions as the prices of cryptocurrencies fell. The company, headed by Alex Mashinsky, has 1.8 million users and approximately $11 billion in client assets. The reason withdrawals were paused was to put Celsius in a better position to meet its withdrawal obligations over time.
Celsius Network (CEL)
Celsius' native token CEL fell 47% following this. The CEL token is currently priced at $0.206. This price is 97.5% below the ATH price of $8.05 on June 4, 2021.
