Ipoh Community Forums

Ipoh Community Forums > News and Current Affairs > International News > Business, Economy and Investment > Investors worry another possible crypto collapse will bring down other key players
Full Version: Investors worry another possible crypto collapse will bring down other key players
You're currently viewing a stripped down version of our content. View the full version with proper formatting.

superadmin

06-15-2022, 03:11 PM
  • Crypto lending firm Celsius on Monday paused all account withdrawals, sparking fears that it may be about to go bust.
  • Investors are scared other parts of the crypto market could get floored if Celsius collapses.
  • Many analysts agree any spillover effects from the debacle are likely to be limited to crypto.
[Image: 107070828-1654264879215-gettyimages-9052...&ffmt=webp]

A liquidity crisis at cryptocurrency lending firm Celsius has investors worried about a broader contagion that could bring down other major players in the market.

Celsius recently moved to pause all account withdrawals, sparking fears that it may be about to go bust. The company lends out clients’ funds similar to a bank — but without the strict insurance requirements imposed on traditional lenders.

Bitcoin sank below $21,000 on Tuesday, extending sharp declines from the previous day and sinking deeper into 18-month lows. The total value of all digital tokens combined also dipped below $1 trillion for the first time since early 2021, according to CoinMarketCap data.

- More -
Ipoh Community Forums > News and Current Affairs > International News > Business, Economy and Investment > Investors worry another possible crypto collapse will bring down other key players