CMMK 1127 Storyboard Assignment
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Patrick Francis 101190282
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- CMMK 1127Storyboard AssignmentPatrick Francis101190282
- SUPER STAR NEWS
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- Welcome back ladies and gentlemen. This is Jim and Pam reporting in for Super Star News. For those who are just tuning in, our next segment is going to be on the disaster that has been Celsius freezing withdrawals or transfers on its platform.
- That's right Jim, for those who are unfamiliar Celsius is a crypto currency platform which has recently seen unprecedented losses in the value of its assets, and those of its clientele.
- Truly terrifying Pam, so what exactly happened?
- Well on June 12th Celsius announced that it had frozen all withdrawals, transfers, and cash movements in order to protect its investors in accordance with its terms of service, due to the extreme market conditions currently sweeping the crypto world.
- Wow, and that’s all assets?
- That’s right, all assets. No one is able to withdraw, transfer, or swap funds.
- Now that has to be in the millions of dollars, right?
- Not millions, billions Jim, with a B.
- Wow, just wow. This is unbelievable, so no one can move funds and no one can take funds out. This must be a huge shock to the users!
- Well Jim it certainly hasn’t been easy on them. Earlier today we got to speak with one of the people affected and here’s what they had to say.
- I don’t really what to feel, I had invested thousands into bitcoin and it began to crash, just crash way further than I thought it would. I went to pull my money out but it was locked. My money all of it, just taken from me. I was going to use it for college, but now I don’t even know if it’s going to be there when they reopen. I have friends, my mother,family who’s invested right now in other platforms. I don’t know if this is going to happen to them.
- Wow. Now that is just horrible. This is unbelievable, that man has potentially lost everything, and there’s nothing he can do?
- It would seem not Jim. The company issued statements on the matter earlier this month.
- Due to extreme market conditions, today we are announcing that Celsius is pausing all withdrawals, Swap, and transfers between accounts.Acting in the interest of our community is our top priority. In service of that commitment and to adhere to our risk management framework, we have activated a clause in our Terms of Use that will allow for this process to take place.
- They say that they’re acting to protect their community and that what they’re doing is in accordance with their terms of service.
- Well from what that young man was saying it certainly doesn’t sound like they’re helping him. Let’s hope the company gets this sorted out soon and that these people can get their money back. This is just an absolute travesty.
- These kinds of situations are always hardest on the small personal investors. Let’s hope he gets his money back and that the company’s platform reopens to all traders soon.
- Indeed, well folks that’s all we have for now. Stay tuned and we’ll keep you posted as more information comes in on this evolving situation.
- SUPER STAR NEWS
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