A look into the future
The future of Celsius and its investors remains uncertain. While the company has remained relatively quiet on social media, data on the trading chain shows that it is actively juggling funds and loans with market makers and DeFi protocols to ensure that it is not liquidated with leveraged positions. On Thursday, Texas and four other U.S. states announced that investigations were underway into Celsius‘ move to freeze withdrawals.
In recent weeks, the company has been improving its risk advisories in the face of regulatory uncertainty. It has also restricted access to its Earn product to accredited investors.
In the official update, which sets out the reasons for the cessation of activities on the platform, Celsius said that the move is necessary to ensure that the company can fulfill its withdrawal obligations.
Here it is called: Our ultimate goal is to stabilize liquidity and restore withdrawals, transfers and swaps (crypto-to-crypto trading) between accounts as soon as possible. There is still a lot of work ahead, as we are considering various options, and this process will take some time.
One thing is certain: it remains exciting in the crime thriller about Celsius.