U.S.-based crypto-lending specialist Celsius Network announced on Wednesday that it has filed for bankruptcy in New York, adding its name to the list of victims of the price collapse in this market, Reuters reported.
Celsius, one of the largest cryptocurrency lending platforms, has been in crisis for several weeks. The platform promises depositors high returns and better access to loans than those offered by traditional banking institutions. He just filed for bankruptcy in the context of falling cryptocurrency prices.
Recall that since the beginning of the year, bitcoin has lost more than half of its value. It is currently trading just above $20,000 while it was worth almost $69,000 in November 2021. This represents a loss of 70% of its value.
