EARN withdrawals temporarily suspended
Jun 14 | Due to the ongoing Celsius situation, we have temporarily disabled withdrawals from EARN.
As is now common knowledge, Celsius has paused all withdrawals, swaps and transfers between accounts. This means that a portion of funds in the EARN program are currently inaccessible, and thus cannot be withdrawn.
Due to this situation, withdrawals from EARN are temporarily put on hold. If you attempt to interact directly with the EARN smart contract, the withdrawal method will fail. On the mobile app, you’ll currently receive a generic error message if you attempt to withdraw.
Thank you for your understanding of this highly unusual situation. We stand ready to resume normal levels of service, and all efforts are coordinated to that effect.
To be clear, this only concerns funds on the EARN Program (USD+), which are partially held at Celsius. To summarize:
- USD on Public Mint is entirely unaffected and can still be deposited, withdrawn and transferred at will.
- USD+ can still be transferred at will, and funds can still be added to EARN. However, conversion back to USD (withdrawal from EARN) is temporarily disabled.
- All funds on EARN are still bearing yield, which will be distributed to the users as they normally would.
We will keep you posted as the situation develops.
About Public Mint
Public Mint is an open and complete blockchain platform for fiat money, where funds are fully collateralized and held on deposit with regulated, FDIC-insured institutions. Public Mint offers an open, fiat-native blockchain and APIs, ready for anyone to build fiat-based applications and accept credit cards, ACH, wire transfers, stablecoins and more. On top of that, the Public Mint EARN platform offers users automated and diversified returns on USD assets, leveraging the power of blockchain and DeFi.
The EARN program is a community-governed earnings aggregation application built on top of Public Mint’s fiat-native blockchain. The program aims to make it easy and safe for the broader public to tap into the high returns available on the crypto space.