Celsius vows to return from bankruptcy but expert fears repeat of Mt Gox

[ad_1] Crypto lending platform Celsius confirmed on July 13 that it has initiated Chapter 11 bankruptcy proceedings in the Southern District Court of New York.The announcement was shared on the company’s Twitter and shared with account holders via email on July 13, with a vow to “emerge from Chapter 11 positioned for success in the cryptocurrency industry.”According to Investopedia, a Chapter 11 bankruptcy allows a company to stay in business

Celsius reportedly filing for bankruptcy ‘imminently’

[ad_1] Crypto lending platform Celsius has reportedly filed for Chapter 11 bankruptcy, having notified individual U.S. state regulators on Wednesday, July 13.The news was reported by CNBC and referred to an unnamed source, who asked not to be named as the proceedings were private. The source noted that Celsius plans to file the paperwork “imminently.” The news comes just days after the lending platform replaced its previously hired law firm

China’s central bank to expand deployment of e-CNY

[ad_1] According to China's state institution Xinhua News Agency, Lan Zou, head of monetary policy at the People's Bank of China (PBoC), announced that the country would be expanding the number of digital yuan (e-CNY) test sites in the country from 11 to 23. They are spread out across 15 out of 31 of China's provinces and autonomous regions. The PBoC is China's central bank and is responsible for the

US Senate confirms Michael Barr as Fed vice chair for supervision

[ad_1] The United States Senate has confirmed the nomination of law professor Michael Barr to become the next vice chair for supervision for the Federal Reserve.In a 66-28 vote on the Senate floor on Wednesday, U.S. lawmakers confirmed Barr as vice chair for supervision of the Federal Reserve System for four years, filling the last seat on the seven-member board of governors. Barr, who was on the advisory board of

BIS committee and IOSCO issue guidance for regulation of stablecoin arrangements

[ad_1] The principle of "same risk, same regulation" for crypto received further confirmation with the release Wednesday of new guidance on stablecoin arrangements (SAs). The guidance, issued by the Bank for International Settlements (BIS) Committee on Payments and Market Infrastructures (CPMI) and International Organization of Securities Commissions (IOSCO), applies the Principles for Financial Market Infrastructures (PFMI) for payment, clearing and settlement systems to systemically important SAs that transfer stablecoins. The document

UK court allows lawsuit to be delivered via NFT

[ad_1] According to a Tuesday notice from U.K. law firm Giambrone & Partners, a case brought by Fabrizio D’Aloia against Binance Holdings, Poloniex,, OKX, and Bitkub over allegations someone was operating a fraudulent clone online brokerage has resulted in a legal precedent offering a digital solution to serving someone. On June 24, the judge in the case allowed parties to be served by airdropping NFTs into wallets originally held

How Bitcoin’s strong correlation to stocks could trigger a drop to $8,000

[ad_1] The Bitcoin (BTC) price chart from the past couple of months reflects nothing more than a bearish outlook and it’s no secret that the cryptocurrency has consistently made lower lows since breaching $48,000 in late March.Bitcoin price in USD. Source: TradingViewCuriously, the difference in support levels has been getting wider as the correction continues to drain investor confidence and risk appetite. For example, the latest $19,000 baseline is almost

Founder of Three Arrows Capital Nowhere To Be Found According To Liquidators 

[ad_1] According to a filing by consulting firm Teneo, which is anticipated to sell the remaining assets of the struggling cryptocurrency hedge fund, the founders of Three Arrows Capital are nowhere to be found. As a result of the dramatic selloff in digital currencies, Three Arrows filed for Chapter 15 bankruptcy in the British Virgin Islands late in June. The move was meant to protect the assets of foreign corporations

Playboy to launch in The Sandbox metaverse: Nifty Newsletter, July 6–12

[ad_1] In this week’s newsletter, read about Playboy’s upcoming virtual mansion in The Sandbox (SAND). Check out how a startup is offering lifetime Netflix and Spotify access through nonfungible tokens (NFTs) and how NFTs can bridge gaming and blockchain. Additionally, learn how game company GameStop launched its own NFT marketplace. And, don’t forget about this week’s Nifty News roundup featuring an “Ape Now, Pay Later” scheme from a decentralized finance (DeFi)

UK Treasury Committee opens inquiry into crypto industry

[ad_1] The Treasury Committee of the United Kingdom’s House of Commons has called on the public to submit evidence related to the role of crypto’s risks and opportunities.In a Tuesday notice, the committee said it had opened an inquiry allowing people to write in about the role of crypto assets in the United Kingdom. The Treasury Committee said it would be exploring how the U.K. government, Financial Conduct Authority, or