Celsius Community Update — July 2, 2021

We’re in the process of making some changes to our back-end services for Celsius customers in New York and Washington state. This update provides an overview of the “who, what, where, when, and why” for this change. Keep reading to learn more about how to ensure that your Celsius account stays up-to-date for your location.

What changes are being made?

For customers residing in New York and Washington, assets transferred to Celsius will no longer be held in custody by Prime Trust and will instead be sent to Celsius directly. This move comes after ending our year-long agreement with Prime Trust, which had been providing custody services to users in NY and WA.

Be assured that all customer funds are safe and secure. As always, you are able to withdraw at any time and without any fees or interruptions.

Temporarily, existing users in New York and Washington will be unable to purchase coins through the Celsius app. Other than that, upon acceptance of the new terms, all services to existing users remain uninterrupted.

Until our integration with an alternative solution to PrimeTrust is completed, we will not be onboarding new users residing in these states. New users will be added to a waitlist and will be contacted as soon as the integration is completed. We will, of course, keep you updated with the progress.

When will new changes be in effect?

Early next week, customers in New York and Washington will receive an email update and see a notification in the Celsius mobile app to accept our updated Terms of Use and Privacy Policy. Users will have some time to read and review the changes that are being made and must agree to the updates in order to continue using our services.

How will this affect existing users in New York and Washington?

In order to continue using Celsius services, customers in these locations must read and accept the updated Terms of Use and Privacy Policy. These documents will be provided for review in the Celsius mobile app beginning early next week (if this applies to you, you will receive a personalized email referring you to the relevant pages).

As long as you accept the updates, you will be able to continue using Celsius services as normal and without interruption. Should you choose not to agree to these changes, you will be required to withdraw your assets and close your account.

What does this mean for new users in New York and Washington trying to sign up for Celsius at this time?

Registration for new users located in New York or Washington is temporarily unavailable. New users in these locations that create a new Celsius account will not be able to complete KYC or verify their account to access Celsius services. If a user creates a new account during this time, they will be added to a waitlist and be notified by the Celsius team when registration and verification is once again available.

Important Security Reminder:

Remember, bad actors are always on the lookout for opportunities to approach unsuspecting crypto owners and try to trick them into giving access to their coins. Be suspicious of every person contacting you for information (where possible, ask to receive a real-time email and make sure the domain name matches what you would expect), do not give ANYONE your private keys or login credentials, do not follow any instructions share any information without identifying the target, and DO NOT send any coins to an address provided to you anywhere but through the Celsius app. We will NEVER provide you with an address outside of the app.

Keep an eye out for additional information about these changes. If you have questions, please reach out to one of our official support contacts below:

About Celsius

Celsius is a democratized reward-earning and crypto lending platform accessible via web and mobile app. Built on the belief that financial services should only do what is in the best interests of the community, Celsius is a modern platform where membership provides access to curated financial services that are not available through traditional financial institutions. Crypto holders can earn rewards by transferring their coins to their Celsius account and can borrow USD or stablecoins against their crypto collateral at interest rates starting at 1% APR.

Download the Celsius app and start earning rewards on your crypto today!

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