• Celsius is a centralized DeFi company that manages crypto on | Bullets

• Celsius is a centralized DeFi company that manages crypto on behalf of its investors.

• The company promises a fixed interest rate and then puts funds on-chain to earn a yield.

• The Luna/UST crash and stETH depegging is causing Celsius to face a liquidity crisis.

• Celsius has about $10 billion in customer assets with about $1.5 billion accounted for in its wallets. Its actions will likely invite regulation, oversight, and legal action from governments, institutions, and critics.

The Celsius blowup, explained: https://threadreaderapp.com/thread/1536401979466981377.html