Celsius Releases Update on Rewards And Bonuses For Certain Customers
CoinEdition
Published Mar 16, 2023 06:10AM ET
Updated Mar 16, 2023 06:30AM ET
Celsius Releases Update on Rewards And Bonuses For Certain Customers
- Celsius recently addressed the rewards, bonuses, and promotions for customers.
- The bankrupt crypto lender stated that customers have no control over these rewards paid between the pause date and the bankruptcy filing date.
- Celsius also stated that they refreshed all data based on data validations.
Bankrupt cryptocurrency lender Celsius recently stated in a tweet that it will be reissuing and mailing 1099-MISC forms for certain customers in the coming days.
In response to “extreme market conditions,” Celsius suspended withdrawals, swaps, and transfers, prompting speculations of the platform’s significant insolvency. The downfall was a follow-up to the collapse of Do Kwon‘s Terra and the LUNA ecosystem in May.
In an effort to address mounting liquidity concerns, the company disclosed on July 3, 2022, that it would be terminating 23% of its workforce. However, on July 13, 2022, Celsius Network ultimately resorted to filing for bankruptcy.
The post Celsius Releases Update on Rewards And Bonuses For Certain Customers appeared first on Coin Edition.
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