Celsius Warns Stabilizing Liquidity ‘Will Take Time’ As Lead Investor Proposes Recovery Plan

Embattled crypto lender Celsius delivered an update on its situation, stating that its “objective continues to be stabilizing our liquidity and operations.”Celsius stated that it is maintaining “an open dialogue with regulators and officials” and is seeking to “find a resolution.”

The company added that it is also pausing its Twitter Spaces and Reddit Ask Me Anything (AMA) sessions “to focus on navigating these unprecedented challenges and seeking to fulfill our responsibilities to our community.” Celsius abruptly canceled its scheduled Reddit AMA session last Friday, with CEO Alex Mashinsky appearing in a short video on the company’s YouTube channel with a similar message. The decision played a significant part in the decline of the broader market, with the price of Bitcoin tanking below $18,000 over the weekend.

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