The Reason Crypto Platform Celsius Appears to Be Bankrupt

Author: Yuvi June 15, 2022

Crypto Platform Celsius Appears to Be Insolvent


As the “red season” continues in the cryptocurrency world, Celsius, a do-it-all fintech app that gives users easy and reliable access to crypto services, appears to be insolvent, as of June 14. This state of bankruptcy can be attributed to two missteps made by the cryptocurrency platform. The first move is when it uses on-chain leverage and the second uses stETH.

The stETH move is a problem that surfaced when the company used an ETH derivative called stETH to increase its ETH yield and attract more investors…

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15 June, 2022, 11:18 pm

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Wednesday, 15th June 2022

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