Amidst the barrage of negativity and harmful shells being tossed and spewed at the large crypto lending platform lately, the Celsius Network Team released a timely FAQ Page via their Medium blog to address all client (and potential client) concerns.
The Celsius Team is working around the clock to respond to customers’ questions. In the interest of keeping the community informed, we will continue to update this FAQ as and when it becomes appropriate.
- Why has Celsius paused withdrawals, Swap, and transfers between accounts?
To stabilize our liquidity and operations while we take steps to protect customer assets, we believe it is in the best interest of our community and clients for Celsius to pause withdrawals, Swap, and transfers between accounts. We have taken this action to put Celsius in a better position to honor, over time, its withdrawal obligations.
- When can I access my assets?
Our team is working diligently around the clock to meet our obligations. We will continue to update the community and our clients as and when it becomes appropriate.
- Are Celsius’ operations continuing through the pause?
Our operations continue and we will continue to share information with the community as and when it is appropriate. More information is available in our recent blog post.
- Will I continue to earn rewards?
Yes, all coins currently in your Earn account will continue to accrue rewards.
- How do I cover a margin call or pay off my loan?
If you receive a margin call, reply to the margin call email as soon as possible to let the loans team know that you wish to resolve the margin call, by posting additional collateral for the loan or by paying off the loan. Please be advised that, like the other asset in your Celsius Account, any additional assets transferred to your account will not be available for withdrawals, Swap or transfers between accounts while the pause on these features remains in place. We encourage you to carefully review the Celsius’ Terms of Use before transferring additional assets to your Celsius Account.
- If my funds are in a custody account why have they also been paused?
We have paused withdrawals to give us the time to stabilize liquidity and operations.
- I have an open loan with Celsius, who can I talk to about the status of my loan?
For assistance, please direct your inquiry to loans@celsius.network
- Will the withdrawal request I submitted prior to today be honored? When?
Withdrawals, Swap, and transfers between accounts are currently paused. We will continue to share information with the community as and when it becomes appropriate. More information is available in our recent blog post.
- How do you plan to communicate with customers that have reached out to you?
Our team is working around the clock to respond to user inquiries. We continue to update the community via our Twitter page (@CelsiusNetwork), customer and in app notifications, and our website as and when it becomes appropriate.
-Via: The Celsius Network Community FAQ
Disclaimer:
This communication does not constitute an offer or solicitation to buy any securities, and shall not constitute an offer or sale in any jurisdiction in which such offer or sale would be prohibited. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended (“Securities Act”).
Earn accounts have not been registered under the Securities Act and may not be offered or sold in the United States, to U.S. persons, for the account or benefit of a U.S. person or in any jurisdiction in which such offer would be prohibited.
This communication contains “forward-looking statements”. which involve risks and uncertainties. You should not place undue reliance on forward-looking statements because they are subject factors which are difficult to predict. These forward-looking statements are generally identified by the use of “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “target,” “will,” “would” and similar expressions. Risks and uncertainties include, but are not limited to: anticipated trends and challenges in our business and the regulation of digital asset offerings. We do not undertake to update any forward-looking statement as a result of new information or future events or developments.
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