Celsius is Facing Investigations by Multiple Agencies after Freezing Withdrawals

Celsius, a crypto lending company freezed the withdrawals of customers. This has created a question towards the company. Multiple states are investigating the matter. A report by Reuters stated that state security boards in Alabama, Kentucky, New Jersey, Texas and Washington have launched probes into Celsius.

Enforcement director of Texas State Securities Board, Joseph Rotunda stated in front Reuters that, “I am very concerned that clients – including many retail investors – may need to immediately access their assets yet are unable to withdraw from their accounts. The inability to access their investment may result in significant financial consequences,”


The statements on Celsius by Investigation Agencies


The New Jersey and Washington state securities regulators are also looking in to the matter but they are yet to respond to requests for comment. A spokesperson for the Kentucky Department of Financial Institutions stated that they have followed their policy  which does not allow them to comment on ongoing enforcement actions and investigations. Alabama Securities Commission Director Joseph Borg confirmed that U.S. Securities and Exchange Commission has also been in communication with Celsius.

Celsius is blaming the extreme market conditions as the main reason behind their step. They said, “We are taking this action today to put Celsius in a better position to honor, over time, its withdrawal obligations,”


Global Scenario


The world has already seen raise of prime rates of Federal Reserve followed by Wallstreet banks. Added to that since the starting of june moe than 46,000 people reported losing over $1 billion in cryptocurrency scams since the start of 2021 according to a report by Federal Trade Commission (FTC). This unbalance in in global economy is a sign of more problems coming in in future. People shifting their trust to cryptocurrency will now have to think about it. There was a time when Bitcoin turned so many people from rags to riches. Now it is a time when it is hard to trust and invest money in any cryptocurrency.

BlockFi and Crypto.com are laying off employees

A platform for trading and lending cryptocurrency, BlockFi  laying off employees. The companies are laying off 20 percent of its 850 employees — around 170 to 200 people. According to CEO Zac Prince’s Twitter thread this is the result of a “dramatic shift in macroeconomic conditions” and BlockFi’s attempt to become profitable.


Market’s condition and Laying Off Employees


BlockFi is not the only company laying off employees. Crypto.com is going to lay off around 260 workers or around 5 percent of its workforce, according to a Twitter thread from its CEO, Kris Marszalek. Added to that Celsius, a lending platform, has halted withdrawals because of extreme market conditions. Moreover Binance, a large crypto exchange, paused Bitcoin withdrawals for about three hours saying that some technical issue had taken place. In past few coins like Terra are going to zero. Coinbase also started to slow down their  hiring in May and cancelled over 300 job offers the next month. Just like that month; several other companies, like Gemini, Mercado Bitcoin, and Bitso terminated 10 percent of their workers in past few months.


The reason


The reason behind laying off employees is that the crypto market is struggling as the value of Bitcoin and Ethereum is going down. But according to BlockFi the layoffs come after a period of explosive growth. Earlier at the time when covid 19 pandemic caused lockdown, the space for crypto currency has exploded,  prices for major coins started to increase. But in 2022 the interest rates have gone up, so the growth has stopped and the market is going in a reverse direction. As a result trillions of dollars in value have been wiped out from the crypto market. Finally the companies, including BlockFi and  Crypto.com, the bearers of the market are facing a big trouble. It’s also noticeable that the stock prices of the market is in a dropping stage.


The alarming thing is that because of this bad condition of the crypto market the tech and finance-related companies like Klarna, Netflix, Tesla, Cameo, and Better.com are also thinking about layoffs. Moreover Meta are slowing down their hiring.

10 Best Investment Options for Salaried Persons in 2022

What are some best investment options for salaried persons? 


In 2022, savings and investments go hand-in-hand. Throughout the world, numerous individuals are dependent on their salaries for sustaining their livelihood. With inflation, a plunging global economy and other financial degraders being on the verge, it is important to be attentive to managing expenses and savings. 


In order to be able to handle expenses, one has to look for alternate sources of income or something that transforms savings into wealth. You can look for various investment options to amplify your savings. In this blog, we have curated a list of the best investment options for salaried persons to seek in 2022. 


10 Best Investment Options for Salaried Persons

  • Growth Stocks


Growth stocks are one of the best investment options for salaried persons. They promise high growth and high investment returns. Although they are often tech companies, growth stocks do not necessarily have to be as such. Generally, they plow all their profits back into the business, and hence, they rarely pay out a dividend (at least not until their growth slows). 


However, growth stocks can be risky because often investors will pay a lot for the stock relative to the company’s earnings. 

  • Stock Funds


Stock funds are an excellent choice for those investors who want to be more aggressive by using stocks but don’t have the time or desire to make investing a full-time hobby. If you buy stock funds, you will get the weighted average return of all the companies in the fund. Thus, the fund will generally be less volatile than if you had held just a few stocks.


A stock fund is less risky than buying individual positions and less work, too. But it can still move quite a bit in any given year, perhaps losing as much as 30 percent or even gaining 30 percent in some of its more extreme years.

  • Bond Funds


Bond funds contain many bonds from a variety of issuers. They are typically categorized by the type of bond in the fund. These are the bond’s duration, its riskiness, the issuer (corporate, municipality or federal government) and other factors. In case you are looking for a bond fund, there are a variety of fund choices to meet your needs.


When a company or government issues a bond, it agrees to pay the bond’s owner a set amount of interest annually. At the end of the bond’s term, the issuer repays the principal amount of the bond, and the bond is redeemed.

  • Rental Housing or Real Estate


Rental housing is one of the best investment options for salaried persons. It can be a great investment if you have the willingness to manage your own properties. And with mortgage rates still near all-time lows, it could be a great time to finance the purchase of a new property, though the unstable economy may make it harder to actually run it.


To pursue this route, you will have to select the right property, finance it or buy it outright, maintain it and deal with tenants. Rental housing is a good investment for long-term investors who want to manage their own properties and generate regular cash flow.

  • Cryptocurrency


In 2022, cryptocurrency is considered one of the best and in-demand investments. For salaried individuals, can be a great investment option, to begin with. Cryptocurrencies are a kind of digital electronic-only currencies that are intended to act as a medium of exchange. It has become a hot property in the last few years in particular, as dollars have flown into the asset, pushing up prices and drawing even more traders to the action.


Cryptocurrency is good for risk-seeking investors who would not mind if their investment goes to zero in exchange for the potential of much higher returns. However, it is not a good choice for risk-averse investors or those who need any kind of safe investment.

  • Small-cap Stocks


Small-cap stocks are often in demand among investors since they have the potential to grow quickly or capitalize on an emerging market over time. Interestingly, retail giants like Amazon started out as small-cap stocks and made investors who held on to the stock wealthy. 


Like high-growth stocks, small-cap stocks tend to be riskier. Small companies are just more risky in general because they have fewer financial resources, less access to capital markets and less power in their markets (less brand recognition, for example). But well-run companies can do very well for investors, especially if they can continue growing and gaining scale.


The reward for finding a successful small-cap stock is immense, and you could easily find 20 percent annual returns or more for decades if you’re able to buy a true hidden gem such as Amazon before anyone can really see how successful it might eventually become.

  • Short-term Corporate Bond Funds


Sometimes, corporations raise money by issuing bonds to investors, and these can be packaged into bond funds that own bonds issued by potentially hundreds of corporations. Short-term bonds have an average maturity of one to five years, which makes them less susceptible to interest rate fluctuations than intermediate or long-term bonds.


Corporate bond funds can be an excellent choice for investors looking for cash flow, such as retirees, or those who want to reduce their overall portfolio risk but still earn a return.

  • S&P 500 Index Funds


If you are on the lookout for achieving higher returns than other traditional banking products or bonds, S&P 500 index funds can be a great investment option. S&P 500 Index funds are based on about five hundred of the largest American companies. They comprise many of the most successful companies in the world. For example, Amazon and Berkshire Hathaway are two of the most prominent member companies in the index.


Like nearly any fund, an S&P 500 index fund offers immediate diversification, allowing you to own a piece of all of those companies. The fund includes companies from every industry, making it more resilient than many investments. 

  • Robo-advisor Portfolio


Robo-advisors are another alternative if you are not willing to do much investing yourself and prefer handing the process to an experienced professional. Here, you simply have to deposit money into the robo account, and it automatically invests it based on your goals, time horizon and risk tolerance. 


You will have to fill out some questionnaires when you start so the robo-advisor understands what you need from the service, and then it manages the whole process. The robo-advisor will select funds, typically low-cost ETFs, and build you a portfolio.

  • Roth IRA


Lastly, Roth IRAs are also one of the best investment options for salaried persons. A Roth IRA might be the single best retirement account around. It lets you save with after-tax money, grow your money tax-free for decades and then withdraw it tax-free. 


A Roth IRA is not an investment exactly, but rather a wrapper around your account that gives it special tax and legal advantages. So if you have your account at one of the best brokerages for Roth IRAs, you can invest in almost anything that fits your needs.


This concludes our list of the best investment options for salaried persons. Long-term investments give you the opportunity to earn more than you can from short-term investments. However, you have to take a long-term perspective, and not be scared out of the market because the investment has fallen or because you want to sell for a quick profit.