The Latest Breaking News from Celsius

Starting with the lofty goal of competing with traditional banks, cryptocurrency lending giants and their clients now face financial ruin due to their appetite for risk and a paucity of regulatory guardrails. Celsius Network, which suspended withdrawals in mid-June, had advertised a seemingly difficult-to-reconcile mix of interest rates, charging just…

BnkToTheFuture, a lead investor in beleaguered cryptocurrency lending platform Celsius, has put forth three proposals to save the company from going under. What Happened: On Friday, CEO of BkToTheFuture Simon Dixon shared the Depositor's First Celsius Recovery Plan in a post on Twitter.

Celsius (CRYPTO: CEL) has denied the reports that its CEO Alex Mashinsky attempted to flee from the United States, but was halted by authorities.

Crypto hedge fund facing collapse after claims of $650m default on loan to Voyager bank

Three Arrows Capital (3AC), a prominent crypto hedge fund, defaulted on a loan worth over US$670 million, prompting a steep fall in Bitcoin's price to below $21,000.

The Nasdaq composite is down 0.5% while the S&P 500 is off 0.1%.

The firm has suspended fund withdrawals and other transactions since June 12.

With a significant downturn in the crypto market and extreme market conditions, Celsius Network suspended withdrawals from its platforms last week.

As beverage companies compete to grow their non-carbonated drinks divisions, energy drink companies have often been subject to buyout rumors. A terminated distribution agreement between an energy drink company and a leading beverage company is leading to more merger and acquisition speculation in the industry.