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

Weekly Crypto Roundup: Attention Seeking, Jobs Cut, and Sideways Momentum

Bitcoin and Ether prices are not changing rapidly, but the cryptocurrency and NFT sector is. Bitcoin and Ether prices are not changing rapidly, but the cryptocurrency and NFT sector is. Seeking attention Cryptocurrency advocates have been fighting for years to bring their emerging technology into the mainstream. Now the cryptocurrency sector is in the spotlight, … Read more

Easy Money makes Bitcoin and Crypto markets easy

This is an op-ed by Adam Taha, host of an Arabic Bitcoin podcast and contributor to Bitcoin Magazine. The infamous collapse of Luna was followed by an implosion in Celsius, then all of a sudden Tron showed signs of demise and now Capital of the three arrows is in serious financial trouble. Nobody knows Who … Read more

Crypto Lending Firm Celsius Network Repays $120M Loan to Maker

Celsius Network was found to have repaid its $120 million loan. Celsius has paid off a substantial amount of its outstanding debt to Maker Protocol since the beginning of the month. Crypto analysts see this move as an indication that the faltering cryptocurrency lending platform was attempting to prevent its eventual collapse in the face … Read more

Crypto Has a Crazy Week, With Bitcoin Dropping and Celsius Freezing

Crypto was all the rage in 2021. This week, it crashed. The nosedive began on Sunday night. One of the largest crypto lending platforms, Celsius Network LLC, unexpectedly told customers that it was pausing all withdrawals, trades, and transfers between accounts due to extreme market conditions. Celsius customers panicked and people with money on other … Read more

After a Crazy Week in Crypto, Investors Are Wondering What’s Next

Crypto was all the rage in 2021. This week, it crashed. The nosedive began on Sunday night. One of the largest crypto lending platforms, Celsius Network LLC, unexpectedly told customers that it was pausing all withdrawals, trades, and transfers between accounts due to extreme market conditions. Celsius customers panicked and people with money on other … Read more

Coinbase to Lay Off 18% of Staff Amid Crypto Crash

Cryptocurrency exchange Coinbase Global Inc. CURRENCY -0.83% he said he is cutting nearly a fifth of his staff because the company had grown too fast and a potential recession “could lead to another crypto winter.” The company said Tuesday that it will reduce its workforce by 1,100 employees, or about 18% of its staff, as … Read more