Cryptocurrency lending firm Celsius Network will pause withdrawals and transfers between accounts due to “extreme market conditions,” the company said on Monday, in the latest sign of pressure in the crypto industry.
Crypto lending company Celsius Network is halting operations while it takes steps to “stabilize liquidity and operations”.
Bitcoin falls more than 6% to as low as $24,888, an 18-month low.
Ether drops more than 8% to $1,303, its lowest since March 2021.
Crypto markets have been under pressure in recent months, falling alongside other so-called risk assets.
This report’s information was first seen on Reuters; to read more, click this link.
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