Crypto Lender Celsius' Collapse Into Bankruptcy Should Be Probed, US Says
Celsius, a cryptocurrency lending platform that collapsed over the summer and owes $4.7 billion dollars to its customers
this is not something you want on your conscience when it comes down right? A lot of people invested their life savings with Celsius believing they were safe from any risk
whereas others put money into houses or retirement funds thinking everything will be ok because after all -we're only making small loans!
But what happens if these investors wake up tomorrow morning without anywhere near enough cash available thanks largely due both parties trusting each other too much
Celsius customers have been caught in the cross hairs of a legal battle. They are being classed as unsecured creditors
which means they don’t carry anywhere near enough protection to cover their losses if something goes wrong with Celsius and/or its owner(s).
The ones that suffer most from this will be those who put money into these platforms thinking it was safe because there were two different types' insurance available
Have you ever wondered where all of your digital currency has gone? It's not just Bitcoin that gets traded on this platform, but Dogecoin and every other cryptocurrency as well
You might have used their technology in the past few days without even knowing it!
That says something positive about how prevalent these companies are becoming within our society now-a days
which is really exciting for future prospects like myself who plan to invest heavily into crypto markets soon enough (I'm stocking up).