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The post After Declaring Bankruptcy, Celsius Network Discloses Its Restructuring Plan! appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide On July 13, exactly one month after halting withdrawals and transfers from accounts, cryptocurrency lender Celsius Network filed for bankruptcy. Judge Martin Glenn of the U.S. Bankruptcy Court for the Southern District of New York received Celsius’ financial review and restructuring plan today as part of the bankruptcy court hearing. Negotiating restructuring deals with stakeholders, funding Bitcoin mining activities with bitcoins created by a subsidiary, and “asset sales and third-party investment options” are all steps in the restructuring plans. Additionally, the company gives clients the choice of getting their money back at a discount or keeping their cryptocurrency investments invested. In the bankruptcy procedure, the troubled crypto lender provided choices for consumers to get their money back as well a...
The post Global KuCoin Exchange Tops 20 Million Users appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide In today’s press release , the kucoin kucoin Centralised Exchange Followers : 0 View profile global cryptocurrency exchange has announced that it has attracted over 20 million users globally. The exchange is planning to commemorate the occasion by launching a contest among users with prizes and bonuses. Recent statistics revealed by the kucoin kucoin Centralised Exchange Followers : 0 View profile exchange reveal that it has managed to attract over 9.75 million new registered users over the course of the first half of 2022 alone. The kucoin kucoin Centralised Exchange Followers : 0 View profile H1 2022 report delves into the breakdown of the number and indicates that the last 7 months have seen a doubling in new user registrations. The 219% increase in user base numbers since the end of 2021 is largely attrib...
The post As US Dollar Index Surge, Bitcoin Price Finds Support At $20,000 Level appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide This year, the US stocks and Bitcoin’s correlation is recorded lowest this year. When the 40-day connection between the world’s first cryptocurrency and Nasdaq 100 is considered, there is a fall below 0.50, the range that was last recorded in January. Recently, when the US dollar registered two-decade high, while Bitcoin price lost its recovery phase tumbling down below $20,000. Meanwhile, it’s seen that Bitcoin/Dollar is trying its best to regain its $20,000 price level amidst the 40-year high US inflation figures in Consumer Price Index (CPI) data. The BTC/USD pair did reclaim $20,000 level this morning, July 14, before falling back at $19,600 level making it a new support. However, the gains above $20,000 looks like a narrow path with increasing inflation. Once the CPI data was released the US dollar index (DXY) p...
The post USDC May Land Up in Deep Trouble Soon! Is Circle Heading Towards Liquidity Crisis? appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide The crypto bear market has dragged many platforms to their knees, while most of the assets have plunged hard by nearly 90% from their highs. Bitcoin specifically dropped heavily from $69,000 amid the correction and slashed heavily from $45,000 to as low as $17,600 due to a couple of crashes led by the lending platforms. The popular stablecoin USDT had also shaken up as USDC emerged as the trader’s desired asset. However, the USDC’s future also appears to be in distress as a major problem may arise for the parent company Circle! Matt Taibbi, an American author, and journalist reporting on finance, politics & sports, recently pointed out an upcoming disaster for the crypto space. The author had closely followed the recent crypto crash for a month and believes that major trouble is awaiting USDC & C...
The post Investigation on Voyager and Celsius Intensifies By The US State Regulators appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide Texas and Alabama securities regulators are expanding their inquiries into Voyager and Celsius. Voyager’s disclosure of the manner in which it used customer funds is currently being looked into by the Texas State Securities Board. Earlier inquiries by the same regulators, however, were primarily concerned with each company’s choice to halt withdrawals. According to a Bloomberg article on Friday, securities authorities in Texas and Alabama are deepening their inquiries into the cryptocurrency loan companies Celsius and Voyager. As disclosed in the reports, the two states are looking into whether Voyager and Celsius completely provided information about their loans and the creditworthiness of the consumers. Several companies may not have disclosed what they were doing with investors’ money, including the level of ris...
The post TerraForm Labs Has No Control Over LUNC, Terra 2.0 Is A Public Coin, Claims Do Kwon appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide After the Terra (LUNA) crash, there have been a huge number of facts have come into the spotlight. Among them, there were allegations like Do Kwon cashing out $2.7 billion of worth crypto before the collapse of Terra. Even South Korean media accused Do Kwon of committing many financial crimes today. However, Do Kwon has denied all the allegations. To prove his innocence, he even posted a Twitter thread. 1/ This should be obvious, but the claim that I cashed out $2.7B from anything is categorically false — Do Kwon (@stablekwon) June 12, 2022 Also, Do Kwon had come up with a plan to hard fork the Terra Blockchain, and this was rejected by 90% of voters. Meanwhile, the crypto space has witnessed yet another development. There has been an exchange of questions and answers between Terra’s Do Kwon and ano...
The post With $950 Million in Collateral as the Prize, Celsius Turns to Pay Off Aave, Compound Debt appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide The cash-strapped cryptocurrency lender Celsius, this week paid off $223 million in loans on the Maker blockchain technology to release $450 million in collateral. In a new development, it may attempt a similar tactic with two other significant decentralized finance (DeFi) platforms: Aave and Compound. A crypto wallet connected to Celsius by blockchain intelligence company Nansen lowered its outstanding debt to Aave and Compound on Friday from $258 million to $235 million, according to data on the DeFi data dashboard Zapper. Will Celsius Fully Repay its loans? If Celsius fully repays the loans, the cryptocurrency lender will be able to seize $950 million in assets that are currently locked up on the DeFi protocols and promised as security for the debt. These actions appear to be a part of the compan...
