Hi,

today we had a new bloody Monday, cause by Celsius, a company that was trying to prove serious till now, froze all the funds of the users. Celsius, the crypto lending company, announced that all transfer are on halt.

This will hit both lenders and borrowers, as both don't have access to their funds any longer. Even if packed nicely, for the own good, it is a bad move. People that can pay back their debt, will probably default. Some that have the need to access their funds, will have issues also.

Even if there is no need for the funds, it is a good thing to be able to withdraw them.

The worse thing is for the ones that want to pay, but won't be able to, as they can't process the transaction. They will lose the collateral because of this. I hope that they can sue the company and at least recover the deposit.

The business model is more like a ponzi, as without fees, it has only the chance to survive if crypto goes up. Well, the party is over, and we are in a bear market, for longer than we think. Crypto value is correlated on the easy money availability and as the time has changed, we have a change in the direction.

Celsius will probably default in the next weeks, as they will be out of funds to pay back. This will cause another wave on the crypto market.

On the other thing, it is good that the market cleans itself, even if the process is painful.

Always remember: ***Not your keys, not your crypto!***