Month: July 2022

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

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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 and restructure its obligations. Companies that have successfully reorganized under Chapter 11 include American Airlines, Delta, General Motors, Hertz,…

State-Owned Swiss Bank Postfinance to Offer Clients Direct Access to Crypto Market – Featured Bitcoin News

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Swiss post office’s banking unit, the state-owned Postfinance, is reportedly preparing to enter the crypto market. “Our clients want direct access to this market through their house bank.” Swiss Post Office’s Banking Arm to Enter Crypto Market The banking and financial services arm of Swiss Post, the state-owned enterprise responsible for Switzerland’s postal and other essential public infrastructure services, is reportedly planning to offer its customers direct access to cryptocurrencies. The Swiss parliament established Postfinance’s predecessor in 1906 to provide payment services to retail customers. Postfinance operated as a division…

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Litecoin Rejected At $55, Bears Might Drag LTC Below Immediate Support Line

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Litecoin attempted to rise on its chart, however, the bears were still strong on the chart. Although the coin showed some recovery, technical outlook pointed towards further decline. Bitcoin too has lost steam as the coin plunged below the $20,000 mark. Broader market weakness can be attributed to Litecoin’s downward price movement. Closest support line for LTC stood at $45 and the price of the coin was trading very close to the aforementioned support level. The latest drop in price over the past 4 days have invalidated LTC’s weekly gains.…

"Bitcoin está es una NUEVA ETAPA que nadie conoce!" | Raoul Pal en español

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EU Regulator Warns About Crypto — Questions Whether Many Will Survive – Bitcoin News

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European Securities and Markets Authority (ESMA) Chair Verena Ross says that the crypto market crash should be a “cautionary lesson” for investors. She noted that there is a “real question” about whether many crypto assets will survive. ESMA Chair on Crypto Risks and Regulation Verena Ross, chair of the European Securities and Markets Authority (ESMA), has cautioned investors about cryptocurrency investing after the crypto market lost 70% of its value, the Financial Times reported Sunday. Emphasizing that there was no prospect of a European bailout for out-of-pocket crypto investors, she…