Cryptocurrency lender Celsius says its rewards token prone to 'regulatory risks'

Cryptocurrency lender Celsius (CEL-USD) Network said Friday that its reward token is prone to "regulatory risks," according to the company's recently updated disclosures. As a raft of crypto lenders face regulatory scrutiny over their high yielding product offerings, Celsius (CEL-USD), which allows users to stake their crypto for borrowing to earn interest in return, emphasized that its high-yield Celsius Earns Program "may be considered a risky investment." CEL along with other cryptos are "susceptible to a wide variety of risks,” including cyber theft, loss of keys and failing chains, the company said. Meanwhile, Celsius (CEL-USD -2.4%) tokens are edging lower to $2.10 as bitcoin (BTC-USD -3.7%) and ethereum (ETH-USD -1.7%) drop past key levels. In Dec. 2021, Crypto miner Argo Blockchain agreed to settle with Celsius.