Midas Investments suspended services on its platform following the Celsius and FTX crashes.
The cryptocurrency platform Midas Investments disabled deposits and swaps due to severe financial losses caused by Celsius’ bankruptcy and FTX’s fiasco.
Levin revealed that the entity’s initial goal was to deduct 48% from clients’ balances but later changed the figure to 55%: Balances in other digital currencies, including BNB, AVAX, and FTM, will not be impacted. The company will also distribute MIDAS tokens as compensation to affected customers based on their deducted amount.Levin believes retail and institutional clients will significantly increase their interest in Decentralized Finance in the next five years. As such, Midas Investments intends to roll out “scalable, on-chain, verifiable, tokenized CeDeFi strategies” for both CeFi and DeFi users.
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