Members of the crypto community on Twitter have been left confused by the struggling Celsius Network which is continuing to pay weekly rewards despite pausing withdrawals two weeks ago.
Celsius halted withdrawals on June 13 after citing extreme market conditions amid the current bear market. Reports soon followed that the firm was undergoing liquidity issues and may be heading toward bankruptcy, possibly putting users funds at risk.Figures such as Simon Dixon, Bitcoin OG and CEO and co-founder of online investment platform BnkToTheFuture, tweeted his confusion to his 59,300 followers over receiving nearly $4,000 worth of crypto rewards but being unable to withdraw them.
Upon searching Celsius still paying on Twitter, there are countless users raising questions over the lending platform, with some such as CryptoStylesUSA calling it insulting that Celsius continues to pay weekly rewards while keeping their crypto hostage.According to Celsius’ website which is currently undergoing revamp due to the liquidity issues , the company is still advertising annual percentage yields of up to 18.63% on crypto deposits, which many have argued is unsustainable.
