Coindesk published the news article below today in which they state prime trust has cut its partnership with Celsius because of concerns of "endlessly re-hypothecating assets".
Meaning they will no longer manage assets for celsius. Assets, its users are depositing into celsius to borrow against or to earn interest on.
The article also mentions that celsius is now only using its core custody partner, fireblocks. Fireblocks just recently lost ~ 75 million USD of ETH for not properly securing a private key. Article is also below.
I am not trying to spread FUD or saying that there is any current issue with Celsius, however a main core partner dropping them and Celsius using some like fireblocks who just lost millions in eth for another client is very concerning. DYOR...BE CAREFUL FAM!
https://www.coindesk.com/custodian-prime-trust-cuts-ties-with-crypto-lender-celsius
https://www.coindesk.com/fireblocks-being-sued-for-allegedly-losing-over-70m-of-ethereum-report
[link] [comments]
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments