Tag Archives: social

Celsius Network’s latest court filings depicted a grim forecast for the crippled crypto lender. The documents revealed that the actual debt currently stands at $2.85 billion, as against their bankruptcy filing claims of a $1.2 billion deficit. The firm is expected to run out of cash by October as per the filing with the United States Bankruptcy Court of the Southern District of New York. By then, Celsius would hit negative liquidity of approximately $34 million. Celsius...

A week after suspending its services, the crypto lending platform Hodlnaut filed for an application to be placed under judicial management with the Singapore High Court. Under judicial management, the financially distressed crypto lender will be able to “rehabilitate its business.” As such, an independent officer of the Court will be appointed in place of Hodlnaut’s directors to oversee the company. This process is also expected to offer some respite as it provides a...

Cryptocurrency exchange giant Huobi will cease offering its derivatives trading services to New Zealand customers two months after the company obtained registration from the country’s regulators. In an announcement on Tuesday (August 16, 2022), Huobi said it would restrict users in New Zealand from accessing derivatives trading services starting from August 23, 2022. According to Huobi, its action was in “commitment to local compliance policies.” Consequently, affected...

As per Ripps’s filing on Monday, the artist has asked a Los Angeles federal court to stop a trademark lawsuit brought against him by the BAYC creator. He further argued that his NFTs of the apes were a type of “appropriation art” meant as criticism and protected by the First Amendment. His NFTs of Bored Apes reportedly aimed to bring Yuga Labs’ attention to alleged racism. He also called it an “act of protest” against the NFT giant. For context, Ripps has been a vocal critic...

Digital banking platform, Revolut has been awarded authorization by the Cyprus Securities and Exchange Commission (CYSEC) to expand its crypto services across the European Economic Area (EEA). According to a new report, Revolut has become the first entity to be awarded crypto-asset service provider (CASP) from the regulator of the island country. The news comes amidst its ongoing hiring spree despite a lackluster market. Cyprus’ Crypto Authorization With the new...

Israeli authorities have arrested three individuals suspected of defrauding the French state treasury. The undercover investigation was carried out jointly by the Israel police and the Israel Tax Authority over the last few months. Foreign investigative agencies – Europol and the French Police – also cooperated. As per Reuters, the investigators are looking into a potential “large-scale fraud” that they believe was committed against the state treasury in France. The crime,...

The Singapore High Court on Monday granted crypto exchange Zipmex protection from creditors until December 2. Zipmex had asked the court for bankruptcy protection on July 22 and more time for debt restructuring on August 4. Court Order Affects Thai Investors Zipmex operates in Singapore, Thailand, Indonesia, and Australia. After it halted withdrawals last month, Thai regulators promptly asked for clarification. As per media reports, nearly 20,000 local customers have...

After a brief dip, bitcoin went on the offensive once more and tapped $25,000 for the first time since mid-June. The altcoins are calmer today, but Shiba Inu has stolen the show with a massive double-digit surge. Bitcoin Touched $25K Whether it’s indeed on hype regarding the upcoming Merge, as JPM claimed, the crypto market has been on an uptrend in the past week or so, evident from BTC’s price movements. The most impressive surge came on August 10 when the asset jumped from...

The Norwegian bitcoin mining company – Kryptovault AS – reportedly plans to move its operations north of the Arctic Circle. The relocation is prompted by the rising electricity costs in the country, while the northern regions are still relatively unaffected by the crisis. Over the past few years, Norway has turned into a cryptocurrency mining center for the European region due to its green policies. According to estimations, 98% of the energy production in the nation comes...

Ronald Craig Ilg – a 55-year-old former neonatologist from Spokane, Washington – admitted to transferring $60,000 worth of bitcoin to multiple hitmen on the Dark Web whose task was to cause severe injuries to an ex-colleague of his. Apart from that, he ordered the criminals to kidnap his estranged wife and inject her with heroin so she would drop divorce proceedings. Ilg now faces five to eight years of prison time. The US authorities will announce the exact punishment in...