The episode looks like a “bank run”, this rush of customers to the bank counters, which marked the biggest financial crisis. Last Monday, amid turmoil in the cryptocurrency markets, the US platform Celsius, which in principle offers its customers a very attractive income in cryptocurrencies, announced the freezing of its activities. Nearly 2 million asset owners were unable to transfer funds. Withdrawals are simply “blocked” until further notice.
This situation is not an anecdote. Managing $ 11.8 billion, Celsius is one of the big names in the industry. The very popular Binance cryptocurrency exchange platform has ceased its activities. It’s impossible for its customers to withdraw their bitcoins, which are the lowest price in 18 months. This pause, originally intended for about thirty minutes, was extended to long hours, leaving 120 million users to suffer.
A platform or a physical wallet?
The situation is dramatic for those who will probably never see the color of their money again. And yet, there are solutions to avoid getting stuck. First of all you need to…
Source: Le Figaro
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.