Crypto Lender Celsius's Token (CEL) Falls on Lingering Terra Concern (UST, LUNA) – Bloomberg

Crypto Lender Celsius's Token (CEL) Falls on Lingering Terra Concern (UST, LUNA) – Bloomberg

Blockchain Crypto Market Technology
June 10, 2022 by Coinvasity
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The fast-paced program is the quintessential market close show leading up to the final minutes and seconds before the closing bell on Wall Street with the latest news, data and expert analysis.Insight and analysis of top stories from our award winning magazine “Bloomberg Businessweek”.For luxury executives including Kering Chief Executive Officer François Henri-Pinault, 2020 was
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The fast-paced program is the quintessential market close show leading up to the final minutes and seconds before the closing bell on Wall Street with the latest news, data and expert analysis.
Insight and analysis of top stories from our award winning magazine “Bloomberg Businessweek”.
For luxury executives including Kering Chief Executive Officer François Henri-Pinault, 2020 was the year in which the industry forever changed. Amid the arrival of the coronavirus, companies such as his suffered their worst year on record. Consumer behavior shifted even faster from brick-and-mortar to online as supply chains were disrupted. The upheaval has only made more urgent a critical question facing the biggest brands: How does the luxury industry continue to grow while also becoming more sustainable?
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Celsius Network Ltd.’s digital token slumped about 20% on Friday as concern increases over the sustainability of the high yields being offered by the lending platform and others in the crypto market in the wake of the collapse of the Terra blockchain. 
Celsius’s CEL token promises “actual financial rewards,” including as much as 30% extra returns weekly, according to its website. CEL was trading at around 53 cents, down 21% in the past 24 hours, according to pricing data site CoinGecko. 

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