Crypto lender freezes accounts, dealing blow to Bitcoin hub

One of the largest cryptocurrency lenders said late Sunday it has suspended withdrawals, the latest casualty in the fast-falling Bitcoin world.

Celsius Network told its 1.7 million customers that they have no access to their money until further notice due to “extreme market conditions.”

“We understand that this news is difficult,” the Hoboken, N.J.–based firm said in a statement. “We are working diligently to meet our obligations.”

In related news, Chinese crypto exchange Binance on Monday morning blocked Bitcoin withdrawals due to “a stuck transaction causing a backlog.”

Celsius was co-founded four years ago by CEO Alex Mashinsky, named a top entrepreneur by Crain’s in 2010

→ Continue reading at Crain's New York Business

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