Blog: Crypto Bank Runs Are Spreading as Accounts Are Frozen – Barron’s

When a traditional bank fails, a SWAT team of regulators swoops in, winding it down in secret and preventing a panic that could spread throughout the financial system. In cryptocurrency banking, the demise happens in full public view—and there is no regulatory SWAT team to keep the markets calm.

That story unfolded this past week as Celsius Network, a major crypto lender that had more than $11 billion in deposits, froze withdrawals. “Celsius has billions in liquidity,” CEO Alex Mashinsky said publicly on Friday, June 10. Less…

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s