Share this article
Crypto Lending Service Celsius Pauses Withdrawals, Citing 'Extreme Market Conditions'
The company will also pause its swap and transfer products, according to a blog post.
By Nikhilesh De
Updated May 11, 2023, 5:01 p.m. Published Jun 13, 2022, 4:29 a.m.
Crypto lending service Celsius announced early Monday it would pause withdrawals, citing "extreme market conditions."
The company announced it would also pause its swap and transfer products, according to a blog post. It did not provide a timeline for resuming withdrawals.
STORY CONTINUES BELOW
"We are working with a singular focus: to protect and preserve assets to meet our obligations to customers. Our ultimate objective is stabilizing liquidity and restoring withdrawals, Swap, and transfers between accounts as quickly as possible. There is a lot of work ahead as we consider various options, this process will take time, and there may be delays," the blog post said.
The announcement comes on top of Celsius telling nonaccredited investors that they could no longer transfer funds.
The company also recently replaced its chief financial officer, after former Chief Financial Officer Yaron Shalem was arrested by Israeli police in 2021.
The price of Celsius's CEL token fell over 50% after the news came out.
The company has also faced regulatory issues, with law enforcement entities issuing cease-and-desist orders against it.
Crypto reporter Colin Wu, who goes by @WuBlockchain on Twitter, posted Monday that Celsius has transferred about 104,000 ETH to FTX in the past three days.
Update: Celsius has transferred about 104,000 ETH to FTX in the past three days, including about 50,000 ETH today, 12,000 ETH yesterday, and 42,000 ETH the day before yesterday. In addition, Celsius also transferred about 9,500 WBTC to FTX today.https://t.co/RaiJTJIVm9 https://t.co/1RQaa9fT3u
— Wu Blockchain (@WuBlockchain) June 13, 2022
Read more: What Crypto Lender Celsius Isn’t Telling Its Depositors
UPDATE (June 13, 2022, 04:29 UTC): Adds Wu Blockhain's comment in final paragraph.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
State of Crypto: Wrapping Up the Month
Congress continues to make progress on crypto issues but things are moving slowly.
Top Stories
