A sign advertising a Bitcoin ATM is posted at a 7-Eleven store on November 10, 2021, in Los Angeles, California. | Mario Tama/Getty ImagesCrypto markets plummeted on Monday morning on news of troubles at another popular decentralized finance platform, dropping below $1 trillion in market capitalization for the first time since early 2021.
With prices crashing, Binance — the world’s largest crypto marketplace — announced on Monday it was freezing Bitcoin withdrawalsCelsius’ problems are landing only a month after another popular DeFi protocol, TerraForm Labs, sustained tens of billions of dollars in losses following the collapse of its algorithmic stablecoin TerraUSD. Like Celsius, Terraform had attracted interest in its platform byin exchange for staking their crypto in an online lending platform.
Celsius was hit with cease-and-desist orders by at least four state agencies over its lending platform last year and wasas well. In April, the company announced it would limit U.S. access to yield-generating lending products to accredited investors.
Suspend customer withdrawals 😬 PonziCoin
All fud! Greedy elitist oldfogeys Re of Re and their dodopions from W/S, big banks, shadow banks and HFs creating a crypto winter since Nov. 2021 and betting on ETH’s flawed dominance! Next-gen savvy crypto investors are accumulating BTc and quality Alts while shorting ETH! Ha.
. Crypto can't gouge customers like Big Oil. .
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