Celsius’s team has taken down some of its online engagement programs including AMAs, a week after halting withdrawals. The project also promised to work with regulators to resolve the ongoing problems.
Celsius shared the latest update, which stated that the team has not changed its objective in the last seven days. They are working to stabilize liquidity and improve overall operations. The post warns that this process will take time.
“I believe this can only be solved using financial innovation, like we did with Bitfinex. It was resolved within nine months and worked out very well. Depositors are happy.” Dixon stated after noting that traditional finance would not provide a timely solution for Celsius.
According to reports, this could be one of the few options Celsius has. It was reported that Celsius stopped all services including withdrawals last Monday after it transferred more than $300 million in digital assets to FTX. However, there is no explanation for why.
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