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The Daily Beast

Panic in the Crypto Markets After $11 Billion Celsius Network Freezes Assets

Photo Illustration by Thomas Levinson/The Daily Beast/Getty ImagesAnother day, another crypto meltdown that has left the naysayers cackling, the investors griping, and the armchair pundits wondering whether the digital asset frenzy is headed for a final collapse.The latest culprit: five-year-old crypto startup Celsius Network, which as of last month claimed to have more than 1.5 million users and $11 billion in assets on its platform.On Sunday the company announced that—surprise!—it would stop l