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Why can’t they open withdrawals for other alts coins then?

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Unfortunately, I think they commingled funds. In other words, they might have purchased stETH with BTC or other coins as collateral.

Because they do not have the liquidity right now. Their liquidity is tied up in locked contracts. Once these end they will have the liquidity required.

Mike
Unfortunately, I think they commingled funds. In o...

Nooooooooooooooo dude. No. This is what retails do with leverage.

Mike
Unfortunately, I think they commingled funds. In o...

There are dozens of way better techniques to use leverage. This is the first one that retails learn and get rekt

OFF
There are dozens of way better techniques to use l...

I hope you are correct. If the leverage was kept within each coin as it should be, this would mean that the ETH issue would resolve itself when ETH 2.0 is released.

catman
Fudder.

Do you know this for a fact? Why is my BTC or stables still locked in Celsius if it's not an ETH stETH issue?

Mike
Unfortunately, I think they commingled funds. In o...

I thought the on train metrics showed this is what they were doing too🤷‍♂️ Put a load of collateral of btc or whatever on some platform, pull out a grip of usdc, then deploy that usdc to some other financial yeild generating venture

catman
You and I both don’t know.

And yet “this is absolutely what they did”… Can’t think why Celsius-supporting squeezers get annoyed with fudsters? :)

Mike M
I thought the on train metrics showed this is what...

No noob. You lend the stablecoin How many times do I have to explain the idea 1% over 1million USD in BTC

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