4 ms·
Regulated banks tend to have protections in place that avoid the possibility of users losing their funds.
by tatertots1234 4y ago
Regulated banks tend to have protections in place that avoid the possibility of users losing their funds.
- xur17 4y agoTheir "protections" are FDIC, which is basically a government insurance fund. With regards to Celsius, we don't know if they lost user funds, or if they are having a liquidity crisis. There's more detail here [0], but I think it's certainly possible that they do have user funds and simply cannot handle withdrawals for the majority of their user base all at once despite having the funds (much like a bank). [0] https://news.ycombinator.com/item?id=31720457 https://news.ycombinator.com/item?id=31720457