Cryptocurrencies tumble as lending platform Celsius blocks withdrawals | nickbonyhady
Leading cryptocurrencies bitcoin and ether have dived after a cryptocurrency lending company that had promised huge returns to punters abruptly froze withdrawals, citing market volatility.
It said it had "valuable assets", was working to meet commitments, and customers would continue to accrue "awards" during the freeze. Bitcoin and Ethereum, which have been pummelled this year amid a wider technology stock rout caused by rising inflation and interest rates along with the end of pandemic stimulus, both slid about 6 per cent on Monday.
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