Is Celsius a crypto firm filing for bankruptcy?

The firm joins Three Arrows Capital as well as another lender, Voyager Digital, in the list of major crypto firms filing for bankruptcy protection. Celsius, whose mantra has been “Unbank Yourself,” offered both retail and institutional customers high-yield interest savings accounts.

Does Celsius Network have a logo & representation of cryptocurrencies?

[1/2] Celsius logo and representation of cryptocurrencies are seen in this illustration taken, July 7, 2022. REUTERS/Dado Ruvic/Illustrations July 13 (Reuters) - U.S. crypto lender Celsius Network said on Wednesday it had filed for bankruptcy in New York, becoming the latest victim in the cryptocurrency sector of a dramatic plunge in token prices.

How much money did Celsius withdraw in 2022?

Corrects range. CORRECTION (Oct. 6, 12:18 UTC): Corrects figure in the headline and first paragraph to $42 million. Crypto lender Celsius’ top executives withdrew a little over$17 million in cryptocurrency between May and June 2022, right before the company suspended withdrawals and filed for bankruptcy, new court records show.

Why did a crypto lender go bankrupt?

But the lenders' business model came under scrutiny after a sharp sell-off in the crypto market spurred by the collapse of major tokens terraUSD and luna in May. Another U.S. crypto lender, Voyager Digital Ltd (VOYG.TO), filed for bankruptcy this month after suspending withdrawals and deposits.