Tag Archives: celsius

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The crypto industry has again crossed the $1 trillion mark. The space – which was given several heated blows over the past 12 months – has seen its overall valuation fall from about $3 trillion in the beginning of 2022 to less than $1 trillion by the time the year ended. This means more than $2 trillion was lost to time over the course of one year. Crypto Is Returning to Form The crypto arena dealt with several problems throughout 2022, which will likely go down as one...

Legal counsel representing Celsius’ Official Committee of Unsecured Creditors has refuted recent claims that submitted bids for the crypto lender’s assets were rejected. Last week, crypto journalist Tiffany Fong claimed she received documents detailing the bids on Celsius’ crypto assets, which “for the most part, abandoned.” According to Fong, Binance, Bank to the Future, Galaxy Digital, Cumberland DRW, and Novawulf had submitted their bidding proposals for Celsius’ assets,...

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Core Scientific – one of the world’s biggest crypto mining enterprises – has filed bankruptcy in recent weeks but is still expected to continue its mining operations in the region of Grand Forks, Texas. Core Scientific Can Continue to Operate as Normal The company first began pursuing chapter 11 bankruptcy protections in the final weeks of December. Core Scientific has experienced a net loss of nearly half a billion dollars at the time of writing stemming back from...

The state of New York and its attorney general Leticia James are suing former crypto lending network Celsius for allegedly engaging in fraud and misusing customer funds. New York Comes Down Hard on Celsius The sentiment is that FTX wasn’t the only company to use traders’ money for personal gains this year. Celsius really rang a lot of negative bells last summer when it first announced it was going to be halting all withdrawals given that speculation and the volatility of...

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Of all the people or companies in the crypto space, lenders likely have it worse than anyone or anything. They are the ones giving money to the crypto companies that are now failing or struggling to stay afloat. In many cases, they are not able to repay the funds they’ve utilized or borrowed, which really puts a lot of these lending firms on edge. Lenders Are Enduring Trouble from Crypto Miners Instead of money, lenders are instead receiving machines from miners – who at...

2022 is on the verge of disappearing forever, and Live Bitcoin News is looking back one last time on the biggest digital currency stories of the year. The Bitcoin Price The biggest story of 2022 revolved around how poorly bitcoin did. What was once one of the largest and most worthwhile assets around sank to the bottom of a deep financial pit, and the currency has refused to get up. In November of last year, for example, the world’s number one digital currency by market...