Texas Launches Investigation into Celsius Network Amid Withdrawal Freeze

Troubled crypto lender Celsius Network is facing increased scrutiny as Texas reportedly launches an investigation into the platform, adding to its mounting woes. The Texas State Securities Board has opened an investigation into Celsius, according to reports, following the company\'s decision to suspend user withdrawals. Reuters first reported that the Texas State Securities Board has reportedly opened an investigation into crypto lending platform Celsius Network over its decision to suspend user withdrawals. This action comes as Celsius hit headlines this week amid concerns over a potential slide into insolvency.

The platform\'s decision to halt customer withdrawals has sparked wider concern, leading to investigations from multiple states. Several U.S. states including Texas and Alabama are investigating Celsius Network’s decision to halt customer withdrawals. Celsius is drowning deeper as Texas is launching an investigation into crypto lending platform Celsius Network as per the reports by Reuters.

Following its decision to suspend withdrawals, the Celsius Network is now facing an investigation from state securities regulators. According to Texas State Securities Regulators have launched an investigation into Celsius over its decision to halt customer fund withdrawals. According to Reuters, state securities regulators from Securities regulators from five U.S. states have reportedly opened an investigation into crypto lending platform Celsius Network over its decision to suspend user withdrawals.

This investigation adds pressure on Celsius, which is already battling liquidity concerns and market uncertainty. The focus of the Texas investigation, along with investigations from other states, is reportedly centered on Celsius\'s decision to suspend user withdrawals. Stay tuned for updates as this story develops.