Despite Ethereum Merge-related euphoria in recent days, this week saw the crypto market’s largest assets, Bitcoin and Ether, fall in price. Bitcoin was trading slightly above $20,000 and Ether just below $1,500 on Saturday. Despite Ethereum Merge-related euphoria in recent days, this week saw the crypto market’s largest assets, Bitcoin and Ether, fall in price. […]
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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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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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Celsius’ decisions after freezing transfers and withdrawals could impact the crypto sector as a whole Celsius’ decisions after freezing transfers and withdrawals could impact the crypto sector as a whole Celsius Network LLC has hired restructuring consultants from advisory firm Alvarez & Marsal to advise on a possible bankruptcy filing, the Wall Street Journal reported […]
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Coinbase had earlier this month said it would extend a hiring freeze and rescind a number of accepted offers to deal with current macroeconomic conditions. Coinbase had earlier this month said it would extend a hiring freeze and rescind a number of accepted offers to deal with current macroeconomic conditions. Coinbase Global Inc will cut […]
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The Celsius move triggered a slide across cryptocurrencies, with their value dropping below $1 trillion on Monday for the first time since January 2021, sparking worries the rout might spill over into other assets or hit other companies. The Celsius move triggered a slide across cryptocurrencies, with their value dropping below $1 trillion on Monday […]
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Cryptocurrency lending firm Celsius Network will pause withdrawals and transfers between accounts due to “extreme market conditions”, the company said on Monday, in the latest sign of pressure in the crypto industry. Bitcoin extended earlier declines after Celsius’s announcement, falling more than 6% to as low as $24,888, an 18-month low. Ether, the world’s second-largest […]
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