Celsius is ‘Deeply Insolvent,’ Unable to Meet Withdrawal Obligations: Vermont Regulator

Celsius is unlicensed in Vermont and provided unregistered securities offerings, the agency said The lender used customer funds in risky and illiquid investments, trading and lending, it added Troubled cryptocurrency lender Celsius is in no position to fulfil withdrawal obligations or repay loans to creditors, according to financial regulators in Vermont. The state’s Department of Financial Regulation “believes Celsius is deeply insolvent and lacks the assets and liquidity to honor its obligations to account holders and other creditors,” the state watchdog said in a statement on Tuesday. Celsius, which is unlicensed in Vermont, used customer assets in various risky and