crypto: Crypto lender Celsius Network reveals $1.19 billion hole in bankruptcy filing

Celsius Network listed a $1.19 billion deficit on its balance sheet in a bankruptcy court filing 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 causing tremors in the crypto market. In filing … Read more

Crypto Tracker: Markets Face Sharp Drop In Trading Volumes, Bitcoin Is Over $20,500

The cryptocurrency market continues to face a winter sentiment from investors. On Saturday, there was a massive decline in trading volumes that pushed the cryptocurrency market capitalization below $925 billion. The liquidation comes after Celsius voluntarily filed for bankruptcy due to lack of liquidity. Currently, cryptocurrency exchanges are struggling with a liquidity crisis and that … Read more

Crypto market crash: layoffs, bankruptcies and frozen accounts

The cryptocurrency market has lost $2 trillion in the last seven months, a stunning collapse that has upended the once rapidly growing industry. The crash has led to layoffs at exchange houses and lenders, account freezes that have left customers destitute and even bankruptcies at some overleveraged companies. That’s how the crisis has affected consumers, … Read more

Voyager Bankruptcy Is The Latest Sign Of Crypto Consolidation

Good morning and welcome to Protocol Fintech. This Wednesday: Cryptocurrency Consolidation, Atlanta Fintech Hub, and SPAC Deal Canceled by eToro. off the chain Why are governments still bothering to accept crypto for payments? It’s clearly a farce, as a Bloomberg report on programs in Colorado and Utah to accept bitcoin and other virtual currencies shows. … Read more

Crypto Weekly Highlights: Bitcoin Falls Below $19k, Ether, Solana, Cardano, XRP Hardest Hit

The volatility in the crypto markets does not seem to cool down as Bitcoin even erased its mark of $19,000. Board leader BTC, along with other major cryptocurrencies such as Ethereum, BNB, Solana, Cardano, XRP and Dogecoin, witnessed a massive 9-20% drop in the last seven day session, which pushed the global cryptocurrency market capitalization … Read more

Why insurance can be a lifeline for investors who have wealth in cryptocurrency assets

When you opt for deposits or loans at a bank, you generally have the option of taking out insurance against it. Insurance acts as a protection for your invested or borrowed money. This is what the cryptocurrency markets currently lack, a proper insurance mechanism to protect the wealth of investors. So far this year, crypto … Read more