4 ms·
What is Celsius and why is is breaking down?
by 0xB31B1B 4y ago
What is Celsius and why is is breaking down?
- glerk 4y agoCelsius is (was?) a centralized platform promising users high yields in exchange for them depositing crypto assets into a sort of savings account. Nobody really knew what Celsius was doing with those funds. It looks like the funds were invested in some risky ventures (such as the Anchor Protocol, which collapsed following the LUNA debacle), and Celsius is now insolvent.