{"id":464038,"date":"2022-06-16T21:30:00","date_gmt":"2022-06-16T18:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/state-securities-regulators-investigate-celsius-over-withdrawal-suspension-report\/"},"modified":"2022-06-16T21:30:00","modified_gmt":"2022-06-16T18:30:00","slug":"state-securities-regulators-investigate-celsius-over-withdrawal-suspension-report","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/state-securities-regulators-investigate-celsius-over-withdrawal-suspension-report\/","title":{"rendered":"# State securities regulators investigate Celsius over withdrawal suspension: Report"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2d7c0aa8805\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2d7c0aa8805\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/state-securities-regulators-investigate-celsius-over-withdrawal-suspension-report\/#%E2%80%9D_State_securities_regulators_investigate_Celsius_over_withdrawal_suspension_Report_%E2%80%9C\" >&#8221; State securities regulators investigate Celsius over withdrawal suspension: Report &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_State_securities_regulators_investigate_Celsius_over_withdrawal_suspension_Report_%E2%80%9C\"><\/span>&#8221; State securities regulators investigate Celsius over withdrawal suspension: Report &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvZmIxZTJlZTctMmI3YS00ZDViLWJlOWYtZGJkMjM1ZWUzMTc3LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Securities regulators from five U.S. states have reportedly opened an investigation into crypto lending platform Celsius Network over its decision to suspend user withdrawals.<\/p>\n<p>According to a Thursday report from Reuters, Texas State Securities Board director of enforcement division Joseph Rotunda <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/exclusive-texas-securities-regulator-is-probing-celsius-account-freeze-official-2022-06-16\/\">said<\/a>\u00a0regulators in Alabama, Kentucky, New Jersey, Texas and Washington began investigating Celsius after the platform <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/blog.celsius.network\/a-memo-to-the-celsius-community-59532a06ecc6\">announced<\/a> it would be \u201cpausing all withdrawals, swaps and transfers between accounts.\u201d Rotunda reportedly called the investigation a \u201cpriority\u201d for the Texas regulator and confirmed to Cointelegraph the enforcement division was &#8220;looking at the issue involving the frozen accounts.&#8221;<\/p>\n<p>&#8220;I am very concerned that clients \u2014 including many retail investors \u2014 may need to im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely access their assets yet are unable to withdraw from their accounts,\u201d the enforcement director reportedly said. \u201cThe inability to access their investment may result in significant financial consequences.&#8221;<\/p>\n<p>The report on a possible investigation into Celsius <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/celsius-networks-investors-unlikely-to-provide-more-funds-to-bail-out-crypto-lender-11655395113\" data-amp=\"https:\/\/www-wsj-com.cdn.ampproject.org\/c\/s\/www.wsj.com\/amp\/articles\/celsius-networks-investors-unlikely-to-provide-more-funds-to-bail-out-crypto-lender-11655395113\">followed<\/a> a Wall Street Journal report from Thursday that two firms that habacked the crypto lending platform during a November 2021 funding round did not plan to provide additional funds due to the potential risks, citing people with knowledge of the situation. WestCap Group and Canadian pension fund Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec led a $750 million <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">Series<\/a> B funding round for Celsius, which helped the platform reach a $3.5 billion valuation. <\/p>\n<p>With the crypto market experiencing significant volatility in June, Celsius has reportedly onboarded attorneys to find different solutions to the current financial challenges faced by the company. CEO Alex Mashinsky took to Twitter on Wednesday \u2014 breaking a three-day social media silence \u2014 to say that the Celsius team was working \u201cnon-stop\u201d to address user concerns.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CelsiusNetwork?ref_src=twsrc%5Etfw\">@CelsiusNetwork<\/a> team is working non-stop. We\u2019re focused on your concerns and thankful to have heard from so many. To see you come together is a clear sign our community is the strongest in the world. This is a difficult moment; your patience and support mean the world to us.<\/p>\n<p>\u2014 Alex Mashinsky (@Mashinsky) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Mashinsky\/status\/1537147449088872449?ref_src=twsrc%5Etfw\">June 15, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nThe Texas State Securities Board also took action against Celsius in September 2021, initially scheduling a hearing related to allegations that the network had offered and sold securities in the state that were not registered or permitted, in addition to the platform not registering as a dealer under Texas\u2019 Securities Act. The New Jersey Bureau of Securities issued a cease and desist order against Celsius for similar alleged violations of the state\u2019s securities laws. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>SEC chair warns about &#8216;too good to be true&#8217; returns amid market downturn<\/em><\/strong><\/p>\n<p>Major cryptocurrencies including Bitcoin (BTC) and Ether (ETH) have dipped close to $20,000 and $1,000, respectively, in the last seven days amid extreme market volatility. Possibly in response to these losses, many crypto exchanges have announced staff cuts between 5%\u201320%, including Coinbase, Gemini and Crypto.com.<\/p>\n<p><em>Cointelegraph reached out to Celsius Network, but did not receive a response at the time of publication.<\/em><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/texas-securities-regulator-investigates-celsius-over-withdrawal-suspension-report\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; State securities regulators investigate Celsius over withdrawal suspension: Report &#8220; Securities regulators from five U.S. states have reportedly opened an investigation into crypto lending platform Celsius Network over its decision to suspend user withdrawals. According to a Thursday report from Reuters, Texas State Securities Board director of enforcement division Joseph Rotunda said\u00a0regulators in Alabama,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":464039,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvZmIxZTJlZTctMmI3YS00ZDViLWJlOWYtZGJkMjM1ZWUzMTc3LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74863,77595,73157,70934,6474],"class_list":["post-464038","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cryptocurrencies","tag-lending","tag-investigation","tag-regulation","tag-texas"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/464038","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=464038"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/464038\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/464039"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=464038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=464038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=464038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}