Is Celsius in trouble ?!?

[Len Saldua]

Celsius to blame for the latest crash now ? What is going on here ? I thought Celsius was the safest bet in town after Binance !

[Yaunfitda]

Celsius to blame for the latest crash now ? What is going on here ? I thought Celsius was the safest bet in town after Binance !

You should have post the link about what is going on with Celsius though.

As far as the crash goes, it has something to do with the Fed rate hike causing the whole financial market to crumble in the last 48 hours. And the loom and doom scenario, recession everywhere. We haven't recovered bye the devastating effects of the Covid and then we have the war in Europe tearing everyone apart.

[masterrex]

Celsius to blame for the latest crash now ? What is going on here ? I thought Celsius was the safest bet in town after Binance !

IMO, I believe that the problem we face today was started by Altcoins and it was Terra Luna after it was collapsed Terra Luna drag the entire market into a state of doubt and caused some serious concern from investors and now here we are again experiencing the same dilemma after the Celcius hold its withdrawal just to save its remaining asset, that caused an uproar from the affected users and investors too much negativity was happening around so I guess we must prepare for the worst because this is just a beginning.

[CryptoATM]

After the crash of Celsius it gained 60% today  I guess those that this benefits are the strong minded investors that bought the dip😁, I dare not because I knew how crypto besr market always feel like, every little penny will worth a lot more in your eye, bear market is always not easy.

[Len Saldua]

It's highly likely it will crash back down again though, even lower than before. FED interest rate spike is still to come. Also, I've seen giant spikes before ( in price action ) that went right back down , so this could happen too.

[examplens]

Celsius to blame for the latest crash now ? What is going on here ? I thought Celsius was the safest bet in town after Binance !

You should have post the link about what is going on with Celsius though.

Maybe this Twitter thread can help with an explanation of what is wrong with Celsius. it seems that some of their business moves were not the smartest or at least they are not the best for their clients/investors.
https://twitter.com/jonwu_/status/1536476104986267648?s=20&t=U_pAlNZm53n3IWVD0lK4vg

[Fivestar4everMVP]

Celsius to blame for the latest crash now ? What is going on here ? I thought Celsius was the safest bet in town after Binance !

You should have post the link about what is going on with Celsius though.

Maybe this Twitter thread can help with an explanation of what is wrong with Celsius. it seems that some of their business moves were not the smartest or at least they are not the best for their clients/investors.
https://twitter.com/jonwu_/status/1536476104986267648?s=20&t=U_pAlNZm53n3IWVD0lK4vg

I just finished reading the thread on twitter and i must say this, if all that the guy said about celsius is true, then my guess is that we are about to have another luna experience and i think we should brace ourselves up for it.
Celsius is one of the projects i followed right from their early days but i had to leave at some point, after what happened to luna, am not at all happy because it feels like same thing is about to happy to celsius and i really pray it doesnt, atleast for the sake of investors who might have invested their life savings, and also for that sake of crypto currency in general, this is because the more this things keep happening, the more potential investors(those that are yet to come into crypto) are turned off due to fear of loosing their money.

[CaVO32]

Celsius to blame for the latest crash now ? What is going on here ? I thought Celsius was the safest bet in town after Binance !

You should have post the link about what is going on with Celsius though.

Maybe this Twitter thread can help with an explanation of what is wrong with Celsius. it seems that some of their business moves were not the smartest or at least they are not the best for their clients/investors.
https://twitter.com/jonwu_/status/1536476104986267648?s=20&t=U_pAlNZm53n3IWVD0lK4vg

I just finished reading the thread on twitter and i must say this, if all that the guy said about celsius is true, then my guess is that we are about to have another luna experience and i think we should brace ourselves up for it.
Celsius is one of the projects i followed right from their early days but i had to leave at some point, after what happened to luna, am not at all happy because it feels like same thing is about to happy to celsius and i really pray it doesnt, atleast for the sake of investors who might have invested their life savings, and also for that sake of crypto currency in general, this is because the more this things keep happening, the more potential investors(those that are yet to come into crypto) are turned off due to fear of loosing their money.

For those CEL holders, or users in celsius network, you may want to assess their situation right now. If you are still in profit with your holdings, I believe better think of getting out while you can. This can easily very well end up like Luna. They are showing some alarming warnings already and that twitter user is already giving out some scenarios. Now, think if those scenarios make sense to you. And act what you think is the appropriate thing to do. Some hints are already out there, but at the end of the day, it is you who can decide what to do with your portfolio.

[BitcoinPanther]

It looks like Celsius failed to manage their funds correctly.  With a huge loan and unable to pay, they just add more collaterals sacrificing their user's fund.  It was stated in this article that Celcius has borrowed DAI with a current collateralization ratio of 195.93% and over $545 million in locked WBTC as collateral.  They are unable to pay loan so they just add more collateral.  It is all fund mismanagement, and I think if this problem isn't solved it will follow Terra to its doom.

[Len Saldua]

Holy crap I was considering putting 90% of my holdings in Celsius ! I thought their VISA debit card was the best in the business ! Also was looking for a chance to buy the CEL token ! Damn !

[Len Saldua]

Okay hold on, if Celsius is really in trouble, why is the price pumping like crazy !?! Wouldn't you expect people to be selling like crazy ?

[Xal0lex]

Obviously they are facing a lack of liquidity. All of these platforms are very shaky and vulnerable, don't expect full and total security from crypto services. In times of market panics and mass sell-offs, even the most reliable systems often fail to cope with the challenges that are thrust upon them. That's why their security is only conditional, no matter how harsh it may sound.

The problem with such platforms is that if people want to withdraw funds, the platform needs to give them back from their own pockets and it will be real cryptocurrency, not the synthetic one the platform has. And platforms do not want to cover the costs of the market situation at their own expense, so it is easier for them to limit participants' rights and temporarily block their money.

[uneng]

Celsius is in a real mess while not revealing exactly what is happening to customers. Very little is known besides the fact they stopped withdrawls and swaps, are in serious debt issue (with only 1,5$ billion dollars on their wallets by days ago). The CEO doesn't appear on Twitter for days and all informations are coming from twitter and reddit's crypto enthusiasts. They must be acting on the backgrounds to overcome the loss and avoid a complete bankruptcy, but I don't think they are the reason why bitcoin is crashing. Bitcoin would lose value anyway these days, with or without Celsius troubles. Celsius is just suffering the consequences of bearish market and of their own mistakes by making risky moves on the market with investors' funds.

[blockman]

Celsius to blame for the latest crash now ? What is going on here ? I thought Celsius was the safest bet in town after Binance !

Yes, it's on trouble. They've stopped all the withdrawals because of their trouble after it was reported that they've sent millions of crypto into another exchange.
An exchange will always be an exchange no matter what it is. Binance is likely the safest to say onto these centralized exchanges but still, don't leave sums of money on them because we've seen them stopped withdrawals.

[Hypnosis00]

Celsius to blame for the latest crash now ? What is going on here ? I thought Celsius was the safest bet in town after Binance !

Yes, it's on trouble. They've stopped all the withdrawals because of their trouble after it was reported that they've sent millions of crypto into another exchange.
An exchange will always be an exchange no matter what it is. Binance is likely the safest to say onto these centralized exchanges but still, don't leave sums of money on them because we've seen them stopped withdrawals.

And besides, Celsius hasn't gone far yet to think they can be trusted and we can put a huge amount in there. It is absolutely no but rather to anticipate such possibility and even in Binance. In fact, leaving sums of money to the exchanges is not a great idea, we are only dealing with a huge risk that might blame ourselves and put in regrets.

I'm not sure how they will address the issues by now since people are already in a panic thinking about Luna. But I hope this will be a different scenario and they proceed to an effective strategy to solve the problem otherwise, it is another exit scam story.

[Baofeng]

Celsius to blame for the latest crash now ? What is going on here ? I thought Celsius was the safest bet in town after Binance !

You should have post the link about what is going on with Celsius though.

As far as the crash goes, it has something to do with the Fed rate hike causing the whole financial market to crumble in the last 48 hours. And the loom and doom scenario, recession everywhere. We haven't recovered bye the devastating effects of the Covid and then we have the war in Europe tearing everyone apart.

Here is the official link coming from them:

https://blog.celsius.network/a-memo-to-the-celsius-community-59532a06ecc6

We are writing with a very important message for our community.

Due to extreme market conditions, today we are announcing that Celsius is pausing all withdrawals, Swap, and transfers between accounts. We are taking this action today to put Celsius in a better position to honor, over time, its withdrawal obligations.

Acting in the interest of our community is our top priority. In service of that commitment and to adhere to our risk management framework, we have activated a clause in our Terms of Use that will allow for this process to take place. Celsius has valuable assets and we are working diligently to meet our obligations.

And from the looks of it, seems that they don't have assets so they pause the withdrawal and it sends a wrong signal to the community, hence the crypto market went down again very hard. Plus added that to the statement of the FED and the bleak economy of the US.

As for question, yes, Celsius is in trouble right now, just another bubble waiting to get burst in the bear market.

[bittick]

Celsius to blame for the latest crash now ?

No, celcius was only pausing its service didn't mean it if was fully closing its service. It was only securing people's asset from the volatility. Celcius was doing the wrong thing and it's like building the image if this is centralized service.

What is going on here ? I thought Celsius was the safest bet in town after Binance !

You shall read the new announcement. Since when celcius was the safest bet in town after binance? is it only you or may i wrong with it? The crash was happening but the scalpers are taking a very big advantage.

[poodle63]

it seems like the supposed great asset are having crash one after another and celcius suddenly suspending their withdrawal,I'm thinking it was the after effect that the terra luna crash has caused basically changing circumstance of these many great project founders' asset holdings making them in need of creating prevention to save their project. the celcius recent crash was such a concern although it was recovering back even though not fully but it could always ended like terra luna.

[X-ray]

After the crash of Celsius it gained 60% today  I guess those that this benefits are the strong minded investors that bought the dip😁, I dare not because I knew how crypto besr market always feel like, every little penny will worth a lot more in your eye, bear market is always not easy.

It's even more than 110% gain right now. I guess people who have bought when the price was around 10 cents have been getting very very big profit in a night. I didn't even think if that was going up again like that. Probably the panic sell for short term happened with celcius and people were massively buying this token again. it can be seen from so many people who are still writing negative comments about this token.
The latest news was create so many people to distrust this platform.

[tbct_mt2]

Celsius is in very serious trouble. Let's see the latest update on their position.

Update

After two rounds of deposit in WBTC, Celsius made another deposit in DAI that works $19M. It is another effort from Celsius team to lower liquidation price to $14,000.

Do you think it is enough to save them? I don't believe so. If they have additional $200M to $400M to increase their collateral, they can be safe from this attack. I don't believe they have such money or be able to borrow such money from any entity.

It seems there is a very bad ending waiting for Celsius. I know if Celsius liquidated, it will be another fiasco for crypto market.

https://twitter.com/DylanLeClair_/status/1536806455394897923

If you have ever experienced margin trading and faced with liquidation, you will see that their position now is unsafe. Making additional deposits as efforts to protect your collateral, to avoid liquidation are something stupid, if the additional capital is not big enough.

In this case, it's a damn hell unsafe in my view.