Bitcoin prices plunge as major crypto lender halts operations

Bitcoin was trading at roughly $23,400 Monday afternoon, down more than 16 percent in the past day. Celsius Network halted all withdrawals from its platform, citing “extreme market conditions” It’s the second notable collapse in the cryptocurrency universe in less than two months. The stablecoin Terra imploded in early May, erasing tens of billions of dollars of dollars in a matter of hours. A cryptocurrency lender is not regulated like a bank, so there's no deposit insurance and no legal framework for who gets their money back first, like in a bankruptcy. It's unclear whether Celsius depositors will get all their funds back, but it's possible that Celsius' investors may get their investment back before Celsius’ depositors. Source