This Sunday, crypto financial services giant Celsius (CRYPTO: CEL) saw its dedicated token flash crash after market pressure forced the company to suspend withdrawals from its platform.
What Happened: Celsius — a service allowing its users to earn interest on crypto deposits or loan out funds against a crypto collateral — paused all withdrawals, swaps and transfers between the platform's accounts, as Benzinga reported on Sunday. The company explained in a dedicated announcement that it took the measure "due to extreme market conditions" after the crypto market reported a sudden and major downturn.
