Celsius Network

The post Solo Bitcoin Miner Hits the Jackpot, Earning $199,000 Reward appeared first on Coinpedia Fintech News A solo Bitcoin miner has defied the odds and successfully solved a Bitcoin block, earning a substantial reward of 3.27 BTC, which is currently valued at around $199,094. This rare achievement shows how surprising Bitcoin mining can be, especially for solo miners competing against big mining companies. Solo Miner Hit Jackpot On August 29, a solo miner working under the mining pool “ckpool”…

Over $2.53 billion has been distributed to approximately 251,000 creditors by the Celsius Network bankruptcy administrator, signifying a key advancement in one of the largest crypto bankruptcy cases. Major Distribution Milestone Reached The Celsius Network bankruptcy administrator has reported the successful distribution of over $2.53 billion to approximately 251,000 creditors. This significant development is a crucial step in the ongoing resolution of one of the most prominent cryptocurrency bankruptcy cases in recent years. The payout, executed in liquid cryptocurrency and…

Bankrupt crypto lender Celsius Network has initiated legal proceedings against Tether, the company behind the USDT stablecoin. The lawsuit, which was filed concerning a contract dispute dating back to 2022, alleges that Tether violated their agreement by unjustifiably liquidating 39,542.42 Bitcoins that were held as collateral for a loan issued in USDT. Celsius contends that Tether’s decision to sell the Bitcoin at that time was improper and a breach of the loan agreement. Celsius Files Lawsuit Against Tether Celsius Network’s…

The post 5 Best Crypto Staking Platforms for Staking (Highest Real Reward Rates) appeared first on Coinpedia Fintech News If you’re not just a crypto enthusiast but someone who likes making that extra cash, then you must have heard of staking crypto or crypto staking platforms, right? But what exactly is crypto staking, and why is it causing such a seismic shift in the crypto world? Well, we all have that notion that maximum returns come with higher risks, but…

TL;DR XRP saw increased discussion rate, spurred by the SEC’s criticism of its upcoming stablecoin. The asset has been quite popular in the past few years due to the ongoing lawsuit between Ripple and America’s securities regulator. The Top 10 Club The market intelligence platform – Santiment – presented the top 10 cryptocurrencies that have been involved in the most discussions lately. The first place belongs to the popular privacy token – Monero (XMR) – due to the disclosure that…

Celsius Networks surprised the market by burning a significant portion of its CEL holdings, amounting to 652.2 million tokens, representing 94% of the previous supply. The token burn event sparked a marginal price increase for CEL, with its value rising from 13.0 to 14.13 cents shortly after the transaction. In a surprising move on Tuesday, April 30, Celsius Networks burned a huge majority of its CEL holdings, representing a huge majority of the CEL token supply. As per the data…

The post US FBI Issues Stark Warning Against Unregistered Cryptocurrency Services appeared first on Coinpedia Fintech News The U.S. regulatory forces have launched a full-fledged attack on cryptocurrency services that are not registered to the U.S. and do not comply with their rules.  The Federal Bureau of Investigation has warned American consumers about the risks of using cryptocurrency money-transmitting services not registered as Money Services Businesses (MSBs).  FBI’s Warning on Unlicensed Cryptocurrency Services In a recent Public Service Announcement, the…

The post Tether & Litecoin Investors Swarm to Goldmine Fezoo Presale Anticipating a Major Trading Shift in April: 10X Predicted By Experts appeared first on Coinpedia Fintech News Recently, people who invest in Tether and Litecoin are pretty excited about Fezoo because they believe it could be a smart place to put their money. With the cryptocurrency market going up and down a lot, many are turning to platforms like Fezoo, hoping they’ll make big profits from a change in…

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $1,63 trillion. Bitcoin increased by over 1% to reach around $42,300. Ethereum is down by almost 8% to trade at around $2,250. XRP lost almost 4% in value this week, reaching around $0.53. Almost all altcoins are trading in the red, with a few exceptions. The DeFi sector decreased the total value of protocols…

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $1,220 trillion. Bitcoin maintains its value at around $30,300. Ethereum is up by nearly 4% to reach around $1,940. XRP gained a whopping 60% in value this week. Almost all altcoins are trading in the green, with very few exceptions. The DeFi sector increased the total value of protocols (TVL) to around $48 billion.…

DeSo is excited to announce the launch of MegaSwap – a revolutionary, cross-chain smart service that enables users to securely and easily swap coins between different blockchains with a frictionless zero-login. MegaSwap solves various critical pain points, including onboarding new users and liquidity to any web3 application across any blockchain ecosystem. In its limited release, the platform has already seen more than $5 million in volume, demonstrating its potential to revolutionize the crypto market with cross-chain swaps. MegaSwap offers an…

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $824 billion. Bitcoin gained nearly 3% in value in the last week. Ethereum increased by almost 6% over the past seven days. XRP is up by nearly 1% this week. Almost all altcoins are trading in the green, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…

Alex Mashinsky, ex-CEO of failed crypto lender Celsius Network is facing a fresh lawsuit from New York Attorney General Letitia James. The lawsuit also seeks to ban Mashinsky from making any business operations in New York. Lawsuit Calls Mashinky a Fraud The suit accuses Mashinsky of committing fraud by being untruthful about Celsius’ financial health between 2018 and June 2022. He allegedly defrauded hundreds of thousands of Celsius users, falsely assuring them of the platform’s stability. This was apparently a…

In its latest report, crypto exchange Coinbase predicts the crypto bear market will extend for many more months. The company’s research team believes this year’s deleveraging cycle has harmed the investors' interest in altcoins. A Flight to Bitcoin and Ethereum Per the company’s report released on Wednesday, the multiple insolvencies plaguing the crypto industry have crushed investor confidence in the space. This is likely to extend the crypto winter well into 2023. “Constraints on liquidity may also disrupt normal market…

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $851 billion. Bitcoin is up by nearly 2% this week. Ethereum gained more than 3% over the past seven days. XRP decreased by nearly 4% this past week. Almost all altcoins are trading in the red, with few exceptions. The DeFi sector increased the total value protocols (TVL) to around $41 billion. Crypto Trends…

In a Friday announcement,  financial services and investment management company Galaxy Digital revealed plans to purchase asset custody solution GK8. The firm, led by Mike Novogratz, won a bid allowing it to acquire GK8 from Celsius network under the lender’s bankruptcy proceedings. Galaxy to Implement GK8’s Custody Technologies GK8 is a blockchain-focused cybersecurity provider for financial institutions to store their digital assets. The platform also allows users to perform transactions without an internet connection. In their release, Galaxy digital noted…

Alex Mashinsky – founder of Celsius Network – reportedly withdrew $10 million from the struggling lending platform weeks before its bankruptcy.  Under U.S law, he may be forced to return those funds for the benefit of his company’s creditors.  Mashinsky’s Last Minute Withdrawal Mashinsky's hefty withdrawal came in late May – at a time when Celsius users were already withdrawing their assets in droves. Fear overtook customers as crypto markets slid in Q2, and worries over Celsius’ financial health grew…

Here are the best ways to earn free Bitcoin when your wallet is light. Are you interested in Bitcoin but still want to refrain from investing money? Alternatively, are you looking to stack every sat possible without the dry powder to buy more? Here’s a secret: you can put more bitcoin in your pocket without spending a dime – or even doing real work.  That’s not to say you’ll earn much bitcoin without either. After all, if Bitcoin weren’t hard…

Celsius boss Alex Mashinsky may be largely responsible for many of the firm’s unprofitable trades leading up to its bankruptcy.  A new report from the Financial Times (FT) suggests that the CEO may have taken over trading operations back in January. He then took actions with company funds that overruled the decisions of other executives with multiple years of finance experience.  Mashinsky’s Massive Trades The latest info is according to multiple people familiar with the matter – though the information…

According to a coin report from Sunday, crypto lending platform Celsius is in debt to the tune of $2.85 billion, contrary to its previous reports. The recent reveal could spell greater trouble for the bankrupt firm seeing as their chapter 11 filing had claimed a different figure. Contrasting Deficit Balances Celsius was one of several platforms that crumbled in the wake of the Terra crash. The company also felt the pressure from the ongoing crypto slump and filed for bankruptcy…

Holdnaut – a Singapore-based yield generation platform – is the latest crypto company to indefinitely freeze user deposits and withdrawals.  Hodlnaut in Trouble In an announcement on Monday, the firm stated that recent market conditions have forced its hand in order to stabilize its liquidity. The pathway to eventually resuming user withdrawals, it claims,  “will not be a short process.” “We would like to reassure you that this difficult decision was taken for us to focus on stabilizing our liquidity…

On Wednesday, the Bitcoin banking platform Galoy announced a Bitcoin-based solution for sending, receiving, and storing USD.  Unlike traditional solutions, the “Stablesats” feature does directly integrate fiat currency, nor does it involve issuing a new token, or “stablecoin.”  Rather, Galoy’s service lets users of the Bitcoin Beach wallet effectively “freeze” the value of their Bitcoin to a specific dollar amount. How can this be? How Stablesats Work According to the firm’s explainer video, Galoy stabilizes users’ Bitcoin using financial derivatives…

Bankrupt crypto-lender Celsius sent an email to customers on Thursday revealing that their emails were leaked in a data breach. The company claimed this doesn’t present any high risk to their clients, but informed them as a matter of communication. In the email ZeroHedge shared, Celsius said that it was informed of the leak by Customer.io. The company serves as Celsius’ vendor and functions as an automated messaging platform for sending data-driven marketing emails.  The vendor said that one of…

Bankrupt crypto lending platform Celsius Network has filed a motion to retain its former CFO, Rod Bolger, as an advisor. The company filed the motion on July 25, looking to keep Bolger for at least six weeks. Bolger would advise on the company as it goes through bankruptcy proceedings. Bolger tendered his resignation on June 30, just over two weeks after Celsius halted withdrawals. Celsius required him to give eight weeks' notice, which he did. Effectively, this means Bolger is…