This week is a special one, for September 7, 2022 marks the first anniversary of El Salvador formally adopting Bitcoin as legal tender – the first country in the world to do so. A day before the law came into force, Bitcoin’s price was more than $50,000. On Friday, however, it was worth $20,634.97 This […]
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Celsius accused Jason Stone and his company KeyFi Inc. of “gross negligence” and “extraordinarily inept” crypto investing Celsius accused Jason Stone and his company KeyFi Inc. of “gross negligence” and “extraordinarily inept” crypto investing Celsius Network LLC. on Tuesday sued a former investment manager, accusing him of losing or stealing tens of millions of dollars […]
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The news comes as Binance’s CEO and WazirX’s CEO had a vocal disagreement on Twitter regarding the ownership of WazirX The news comes as Binance’s CEO and WazirX’s CEO had a vocal disagreement on Twitter regarding the ownership of WazirX After India’s Enforcement Directorate (ED) issued orders to freeze ₹64.67 crores worth of crypto exchange […]
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Customers of crypto lender Celsius face a long and anxious wait to know how, when and even if they will get their money back after the company filed for bankruptcy, becoming one of the biggest victims of the collapse in crypto markets this year. Citing extreme market conditions, Celsius froze withdrawals in June in a […]
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Bitcoin and Ether’s prices aren’t changing quickly, but the crypto and NFT sector certainly is Bitcoin and Ether’s prices aren’t changing quickly, but the crypto and NFT sector certainly is Seeking attention Crypto proponents have been struggling for years to take their emerging technology mainstream. Now, the crypto sector is the centre of attention, for […]
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Celsius Network listed a $1.19 billion deficit on its balance sheet in a bankruptcy court filingon Thursday, a day after the cryptocurrency lender filed for Chapter 11. New Jersey-based Celsius froze withdrawals last month, citing “extreme” market conditions, cutting off access to savings for individual investors and sending tremors through the crypto market. In the […]
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The news comes shortly after other large cryptocurrency companies announced mass layoffs due to market conditions The news comes shortly after other large cryptocurrency companies announced mass layoffs due to market conditions NFT marketplace OpenSea has said it will cut 20% of its staff due to the “crypto winter” and “broad macroeconomic instability”. A tweet […]
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A company statement confirmed that Celsius had “$167 million in cash on hand” A company statement confirmed that Celsius had “$167 million in cash on hand” The beleaguered cryptocurrency lending platform, Celsius Network, which last month froze all user withdrawals and transfers, has now filed for bankruptcy protection. (Sign up to our Technology newsletter, Today’s […]
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Crypto lending platforms had to resort to extreme measures in some cases, such as freezing trades Crypto lending platforms had to resort to extreme measures in some cases, such as freezing trades Crypto lenders, which boomed during the COVID-19 pandemic, have run into difficulties recently due to a slump brought on by the downfall of […]
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Retail crypto lending platform Celsius Network said on Thursday it was exploring options including deals and restructuring its liabilities. Celsius earlier this month froze withdrawals and transfers, citing “extreme” market conditions, leaving its 1.7 million customers unable to redeem their assets. The Hoboken, New Jersey, company hired restructuring consultants from advisory firm Alvarez & Marsal […]
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