{"id":23945,"date":"2022-06-14T08:58:54","date_gmt":"2022-06-14T12:58:54","guid":{"rendered":"https:\/\/www.technewsday.com\/?p=23945"},"modified":"2022-06-15T10:52:39","modified_gmt":"2022-06-15T14:52:39","slug":"bitcoins-decline-continue-after-network-freezes-withdrawals-and-transfers","status":"publish","type":"post","link":"https:\/\/technewsday.com\/staging\/bitcoins-decline-continue-after-network-freezes-withdrawals-and-transfers\/","title":{"rendered":"Bitcoin&#8217;s Decline Continue After Network Freezes Withdrawals And Transfers"},"content":{"rendered":"<p id=\"arIndex_1\" data-ar-index=\"1\">Bitcoin and other cryptocurrencies suffered another decline after U.S. cryptocurrency lending company Celsius Network froze withdrawals and transfers.<\/p>\n<p id=\"arIndex_2\" data-ar-index=\"2\">Bitcoin fell as much as 14% to an 18-month low of $22,725 following the announcement, but the cryptocurrency recovered slightly to around $24,265. The second most valuable cryptocurrency by market cap ether also fell as much as 18% to $1,176, its lowest level in January 2021.<\/p>\n<p id=\"arIndex_3\" data-ar-index=\"3\">Celsius Network said in the announcement that &#8220;extreme&#8221; market conditions were the necessary factors for its decision.<\/p>\n<p id=\"arIndex_4\" data-ar-index=\"4\">Celsius Network has assets of approximately $11.8 billion and is one of the largest cryptocurrency lending companies in the United States. The company offers interest-based products to customers who deposit cryptocurrencies with its platform. The company then lends cryptocurrencies to achieve a return on investment.<\/p>\n<p id=\"arIndex_5\" data-ar-index=\"5\">Celsius Network&#8217;s move follows the collapse of TerraUSD and Luna tokens in May, followed shortly after by Tether, the world&#8217;s largest stablecoin, which briefly broke its 1:1 peg with the dollar.<\/p>\n<p id=\"arIndex_6\" data-ar-index=\"6\">The sources for this piece include an article in <a href=\"https:\/\/www.reuters.com\/technology\/crypto-firm-celsius-pauses-all-transfers-withdrawals-between-accounts-2022-06-13\/\" target=\"_blank\" rel=\"noopener\">Reuters<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin and other cryptocurrencies suffered another decline after U.S. cryptocurrency lending company Celsius Network froze withdrawals and transfers. Bitcoin fell as much as 14% to an 18-month low of $22,725 following the announcement, but the cryptocurrency recovered slightly to around $24,265. The second most valuable cryptocurrency by market cap ether also fell as much as [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9],"tags":[124,513],"class_list":["post-23945","post","type-post","status-publish","format-standard","hentry","category-todays-news","tag-bitcoin","tag-blockchain"],"acf":[],"_links":{"self":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/23945","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/comments?post=23945"}],"version-history":[{"count":2,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/23945\/revisions"}],"predecessor-version":[{"id":23947,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/23945\/revisions\/23947"}],"wp:attachment":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/media?parent=23945"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/categories?post=23945"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/tags?post=23945"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}