The trading platform experienced a bank-run-style cascade of withdrawals that it couldn't honor a month earlier, shortly after the crash of algorithmic stablecoins LUNA and UST caused the cryptocurrency market to crater.
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Former Celsius Network CEO Alex Mashinsky Sentenced to 12 Years in Prison
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Celsius, a crypto lending platform collapse was caused by a wave of customer withdrawals triggered by the broader crypto market crash tied to the collapse of LUNA and UST
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