Early signs of the crypto winter are here? After Luna’s collapse, it was the turn of Celsius, a blockchain-lending platform to melt down. It had raised a total of $846 million in funding and had $12 billion worth AUM (assets under management). On Monday, it announced that it would halt all withdrawals due to bad market conditions. Fortune compared it to a bank run. Except that it had no regulation. The Fortune report said, “Within the last few days Celsius experienced what appears to be an old-fashioned run on the bank. For a variety of possible reasons, customers lost confidence in Celsius, and on Sunday evening Celsius halted customer withdrawals and those concerns increased.
“It remains to be seen whether depositors will lose money. We already know investors in the Celsius token have–but there is evidence that customer confidence is shaken across the industry and the digital asset class.”
Analyst Corner
@DavidMos played a good hand with ETH
@Eman Alerts saw an opportunity in crisis and went for it!
Wonder how much @Kenny Alerts would have made if he broke his rule, again?
Dad Betz
Are you guys checking out the Dad Betz alerts? It’s always buzzing!
Musk Bytes
Meanwhile, Elon Musk continued with his random posts
