Decrease in Celsius Yields Raises Concerns Among Investors
One of the largest centralized crypto lending platforms in the industry, Celsius is facing pressure from investors who have been hit hard by the recent market crash. Not all is well on the Celsius platform, according to reports. Customers claim they have been unfairly wiped out, and company CEO Alex MASHINSKY is convinced that malicious actors are trying to destroy the system.
On May 18, Barron’s reported that the firm has come under pressure on two fronts recently. Regulators claim that it operates outside the law, and the collapse of the cryptocurrency has led to the fact that customers in a panic withdraw their funds. Investors also complain that trading has become illiquid as the price of the token has fallen, resulting in increased losses and the company has been unable to support its native token. Mashinsky claims that third-party attackers decided to attack the company and intend to completely destroy Celsius.
The platform’s token lost another 0.82% on the day and is trading at $0.79 at the time of writing, according to CoinMarketCap. In addition, CEL has fallen over 20% in the last week and 63% in the last two weeks as fears mount, the investor sell-off accelerates.
Back to the list