Crypto lending giant Celsius files for bankruptcy
. The crypto lending giant left almost two million users unable to access their funds back in June due to what it described as"extreme market conditions." Back then, the company said that freezing withdrawals would help stabilize the liquidity of its assets to, in turn, help it meet withdrawal obligations.
The crypto lender's board of directors explained that pausing withdrawals was difficult but necessary. They said when they filed for bankruptcy:
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