Celsius Problems Impact Nuri's Bitcoin Interest Accounts
With the massive downturn fueled by major crypto lender Celsius (CEL) continuing to roll over numerous crypto businesses worldwide, German crypto bank Nuri has announced that its bitcoin (BTC) interest accounts are affected due to their reliance on Celsius.
Nuri said in a statement on Monday that, "to [their] regret", Celsius announced that they have decided to temporarily pause all withdrawals and transfers between accounts due to the current extreme market conditions, adding that "this decision is also affecting our Bitcoin Interest Account."
They went on to say that, per Celsius, this decision was made to stabilize liquidity and operations "for the benefit of the entire community," and also that,
"[W]hile the withdrawal function is being paused, interest will, however, continue to accrue during the pause."
The bank says that, with regards to its Nuri Bitcoin Interest Account, this decision means interest is still accumulated and will be paid out when these measures are scrapped, adding:
“Until there are further updates, we have also decided to temporarily pause the investing functionality for our Bitcoin Interest Account.”
Set up in 2015, the bank has more than 400,000 customers, according to data from its website. Nuri says that its partner, Germany’s Solarisbank, hosts the bank accounts, and secures deposits of up to EUR 100,000 (USD 104,360).
Cryptonews.com has contacted Nuri for comment.
The latest development comes as crypto-focused financial industry players from across the world intensify efforts to reassure their clients that their digital assets are safe.
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