Troubled Crypto Lender Celsius Seeks Time To Stabilize Liquidity

Celsius Network will need more time to stabilize its liquidity and operations, the embattled crypto lending platform said in a blog post after it froze deposits last week. From a report: Celsius, one of the biggest crypto lenders, has been struggling to raise funds in a fragile digital-assets market hit by tightening interest rates, liquidity and the collapse of the Terra blockchain last month. 'We want our community to know that our objective continues to be stabilizing our liquidity and operations,' Celsius said in its blog on Monday. 'This process will take time.' The firm has also paused Twitter Spaces and Ask Me Anything, also known as AMAs, in crypto jargon 'to focus on navigating these unprecedented challenges,' Celsius said in the post.

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