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Why the crypto winter could be a Lehman moment
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When a traditional bank fails, a SWAT team of regulators swoops in, winding it down in secret and preventing a panic that could spread throughout the financial system. In cryptocurrency banking, the demise happens in full public view — and there is no regulatory SWAT team to keep the markets calm.
That story unfolded this past week as Celsius Network, a major crypto lender that had more than $11bn in deposits, froze withdrawals. “Celsius has billions in liquidity,” chief executive Alex Mashinsky said publicly on Friday, 1o...
Read more on fnlondon.comAbout this in other media
Peter Thiel-backed lender Vauld eyes deal with Nexo as crypto winter drives consolidation fnlondon.com /1 year ago
Crypto winter: Nexo likely to acquire Vauld, parties sign indicative term sheet economictimes.indiatimes.com /1 year ago
Crypto Chaos Continues as Loans Firm Cuts Withdrawal Limit, 3AC Moves Funds, & Celsius Apparently Pays Maker cryptonews.com /1 year ago
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