Another Prominent Crypto Lender Goes Down

And another domino falls. 

After Voyager Digital, another prominent crypto lender has just laid gone down, confirming that the liquidity crisis affecting the young industry is far from stabilizing.

Celsius Network filed for Chapter 11 bankruptcy on July 13, becoming the latest casualty of the cryptocurrency market crash that saw more than $2 trillion wipe out in less than nine months.

“Today’s filing follows the difficult but necessary decision by Celsius last month to pause withdrawals, swaps, and transfers on its platform to stabilize its business and protect its customers,” the firm, which has more than 100,000 creditors, explained in a press release.

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