Reducing your initial debt of $820 million to just $0.013 over a month can’t be easy. And, it’s hardly surprising that such a heroic dash has led Celsius to bankruptcy. Last week, the crypto lending platform voluntarily filed petitions for Chapter 11 reorganization after closing off the last of its decentralized finance (DeFi) debts owed
Bitcoin
The Bank of Spain has issued a new report about the performance of Latam economies during the first six months of the year. The document states that the current inflationary development that several countries of the region have can lead to institutional instability, even as the region is still recovering from the Covid-19 pandemic. Bank
Bitcoin (BTC) rose above $22,000 and Ether (ETH) traded above $1,500 on July 18, indicating that bulls are gradually returning to the cryptocurrency markets. This pushed the total crypto market capitalization above $1 trillion for the first time since June 13, raising hopes that the worst of the bear market may be behind us. In
Last month, it was reported that the co-founder of Ripple, Jed McCaleb was close to emptying his xrp wallet that held 81 million tokens worth $26 million. Following a transaction that saw 3,898,451 xrp transferred out of the address, McCaleb’s wallet is now close to being empty as there’s only 47.6912 xrp worth $17 stored
Polygon was up by nearly 20% to start the week, as the token rallied to its highest level since May. Today’s surge comes as crypto markets were mostly in the green, with avalanche also hitting multi-week highs, and as of writing, is up by over 10% on the day. Polygon (MATIC) Polygon (MATIC) was one
The Russian government-backed tokenization platform Atomyze has issued its first digital asset backed by palladium in collaboration with the local bank Rosbank. Rosbank officially announced on Monday that it became the first partner of the Russian blockchain firm Atomyze, acting as an investor in Russia’s first digital asset deal with palladium. According to the announcement,
During the 12 months, public companies, private companies, exchange-traded funds, and even countries have added bitcoin to their balance sheets. As of July 17, 2022, the aforementioned types of entities hold approximately 1,325,396 bitcoins worth $27.84 billion today. However, the number of coins stored in bitcoin treasuries has dropped since June 5, 2021, by approximately
Ethereum was once again higher on Monday, as prices of the token moved towards $1,500 following recent gains. Bitcoin was also in the green, as prices climbed close to a one month high, after surging above $22,000 to start the week. Bitcoin Bitcoin (BTC) was in the green to start the week, as the weekend’s
Grayscale Investment’s latest Insight report provides interesting food for thought, pinning the start of the current bear market in June 2022, which could last another 250 days if previous market cycles are to repeat themselves. Grayscale notes that cryptocurrency markets mimic their conventional counterparts with cyclical movements. Bitcoin (BTC) market cycles conventionally last 4 years or approximately
press release PRESS RELEASE. Unagi is shifting the way sports fans interact with their favorite sports clubs through their innovative free-to-play and play-to-earn fantasy sports game: Ultimate Champions. Live since April 2022, the company has shaken the industry with several trailblazing successes including: Launching its fantasy football game with over 40 clubs, including the English
Bye bye Monday blues, hello bullish news – the total crypto market capitalization has retaken the $1 trillion level. The crypto market cap is now almost as valuable as all the silver on the planet. A price pump for Bitcoin (BTC) brought the world’s most decentralized cryptocurrency into the $22,500 range, while Ethereum (ETH) enjoyed
A survey published by Globant, a software development firm, and Yougov, found that most gamers believe that metaverse will change the gaming industry in a positive way. The survey, which consulted the opinion of 1,000 PC, console, and mobile gamers, also found that most gamers are still uncomfortable with advertising on the metaverse and that
Diving deep into the thirteen-year-old Bitcoin (BTC) ecosystem makes one come across interesting patterns powered organically by investor sentiment and market conditions. With BTC’s per transaction cost coming down to $56.846 on July 14, the ecosystem unveiled a cycle wherein the per transaction costs invariably fall every four years. The cost per Bitcoin transaction is
Indian finance minister Nirmala Sitharaman has called for global collaboration on cryptocurrencies, assessing their pros and cons to form a common standard and taxonomy. Addressing a question on cryptocurrency in the Lok Sabha, the lower house of the Indian parliament, Sitharaman said that the Indian central bank had advised the government to prohibit the use
A South African regional court recently ruled to release former Monero lead maintainer, Riccardo Spagni, from custody. The ruling came just a few days after his arrest by local law enforcement agents, a report has said. Prior to his release, Spagni aka Fluffypony told the court he had returned to South Africa voluntarily and that
Concerned about projected increase in electricity demand, the government in Sweden may turn its back on crypto mining, the country’s energy minister has indicated. Swedish bitcoin minting industry, a leader in Europe, is likely to soon lose the preferential treatment it has been taking advantage of for some time, a media report revealed. Crypto Miners
Britain’s top financial regulator, the Financial Conduct Authority (FCA), says the U.S. and U.K. will deepen ties on crypto regulation. “In the past, innovative firms would have been pleading for less regulation. Now they understand and appreciate that rules are there to help provide certainty,” said the British regulator. US and US to Strengthen Collaboration
The majority of Bitcoin has been “hodled” for at least three months in behavior bearing a striking resemblance to previous Bitcoin market bottoms, says blockchain analytics firm Glassnode. In a July 16 tweet, Glassnode noted that more than 80% of the total U.S. dollar (USD)-denominated wealth invested in Bitcoin has not been touched for at
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has outlined what to expect from the securities watchdog on crypto regulation. “We do have robust authorities from Congress also to use our exemptive authorities that we can tailor investor protection,” he explained. Chair Gensler Highlights SEC’s Work on Crypto Regulation SEC Chairman
The Paraguayan Senate has approved a bill that seeks to regulate cryptocurrencies and their operations in the country. The bill, which had already been submitted to the deputy chamber, was approved with some changes suggested, establishing clear definitions and tax exemptions for companies in the cryptocurrency and crypto mining sectors. Paraguayan Cryptocurrency Bill Passes Senate