The sharp declines in the crypto market are putting some companies at risk. As it is known, one of the companies most affected by these fluctuations Celsius Network, a cryptocurrency lending and lending company.
Celsius, which has been the subject of many allegations due to serious financial difficulties, has now faced shocking accusations by his former employee.
Cryptocurrency lending platform Celsius has been accused of fraud by a former employee.
The former employee claims Celsius used customer deposits to manipulate markets and increase the value of the CEL token.
The CEL token, on the other hand, experienced a sudden drop of 22 percent after these claims were made. With this decrease, the daily loss was 15 percent.
What Happened in the Celsius Crisis?
Celsius has suspended withdrawals and all its services from June, citing cryptocurrency market conditions. This situation caused the fear of bankruptcy of the company and caused the entire market to be negatively affected.
Celsius, who had fearful days, survived the liquidation by paying the remaining $41.2 million of his debt to the Maker protocol yesterday evening. Thus, 21,962 WBTC worth 448 million dollars of the company, which was struggling with the liquidity crisis, was released.
Celsius sent 24,262 WBTC worth about 500 million to the FTX exchange after receiving its released collateral.