As Bnk To the Future proposes a plan for recovery Celsius, a crypto lender, has asked for some time to stabilize its operations and liquidity.
The crypto lender Celsius is going through testing times. But their team issued a statement saying that the company is committed to stabilizing their operations and liquidity.
Based in New Jersey, Celsius issued this statement on their blog on Sunday night. They addressed their investors and customers in the post, asking them to wait as the process is time-consuming.
Celsius is Looking for Solutions
In the blog post, Celsius claimed they are managing an “open dialogue” with various officials and regulators. The aim here is to find a solution for rehabilitation.
Celsius is quite committed to this cause. The company wants to shift its entire focus on troubleshooting the current series of events, as mentioned in the blog. They are also looking forward to fulfilling their responsibilities towards the crypto community.
Celsius Twitter and AMA Down
To keep their attention on finding the solution, Celsius has temporarily paused its Reddit AMA (Ask Me Anything) and Twitter space. Last Friday, fans were disappointed when Celsius abruptly called off a session with Alex Mashinsky on AMA.
In a shocking turn of events, Celsius stopped swaps, withdrawals and transfers between accounts. The move came in last Sunday, citing reasons of bad market conditions. This decision had a strong impact in Bitcoin’s recent downfall to below the $18,000 mark.
However, BTC is back to trading above the $20,000 price level at the time of writing.