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Crypto lender Celsius Network Ltd. paused withdrawals, swaps and transfers on its platform, fueling a broad cryptocurrency selloff and prompting a competitor to announce a potential bid for its assets. 
Crypto markets slumped after the Celsius announcement, with Bitcoin dropping as much as 10% to the lowest level since December 2020 and other major tokens like Ether also falling sharply. Celsius’s CEL token was down 51% to 18.9 cents as of 2:11 p.m. in Hong Kong, according to pricing data site CoinGecko.

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