- Troubled crypto lending firm Celsius has sought more time from its customers after last week’s withdrawal freeze, to stabilise liquidity issues
- Bitcoin gained around 4% to once again trade above the US$20K mark and was recently trading at US$20,600.
Troubled crypto lending firm Celsius has asked its customers to give it more time to stabilise liquidity and operations after the recent market crash caused the firm to halt withdrawals for its customers.
In the past two weeks, the cryptocurrency market has lost billions of dollars, with Bitcoin falling below the US$20K mark over the weekend for the first time since December 2020.
On Monday, Celsius asked its customers for more time after extreme market conditions forced Celsius to freeze withdrawals for its users last week.
In a blogpost released on Monday, Celsius spokesperson said that they want to stabilise their liquidity, which is a process that takes time.
Moving forward to market news, Bitcoin gained around 4% to once again trade above the US$20K mark and was recently trading at US$20,600.
Meanwhile, Ethereum gained 4.5% overnight and was recently trading at US$1,130.
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Data Source: CoinMarketCap.com, based on top 100 cryptos.
Note: Growth from the 24 hours prior to 12:30pm AEDT
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