The crypto-lending firm Celsius, which offers high-yield returns on user deposits, appears to be the latest to falter in the face of tightening financial conditions. It also came barely one month after the Terra-Luna stablecoin network collapsed. Background Celsius Network is a blockchain-based lending platform accessible through a free mobile app. Celsius Network is a big, venture capital-backed cryptocurrency company valued at $4.1 billion after its most recent Series B funding round in November 2021. According to the Federal Deposit Insurance Corporation, traditional banks in the United States currently give a 0.07 percent annual income on savings accounts. In comparison,
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