Day: April 2, 2023

Celsius submits chapter 11 reorganization plan centered on NovaWulf deal

Celsius Network, the bankrupt cryptocurrency company, filed its chapter 11 reorganization plan in the late hours of March 31, 2023, built around NovaWulf Digital Management, an SEC-registered investment manager. Celsius submits chapter 11 restructuring plan The announcement was made by the Celsius Official Committee of Unsecured Creditors, pointing this as a significant step in the company’s efforts to restructure its financial obligations, as it is currently undergoing Chapter 11 bankruptcy proceedings in the U.S. Bankruptcy Court. The plan was selected by Celsius, with NovaWulf as the sponsor, but is yet to be approved by…

Quarterly Investment Guide 2Q 2023: Bitcoin outlook

boss

The case for a new crypto bull market has been slowly growing since the beginning of the year and gained more strength still in March. Bitcoin , still the clear leader of the crypto market, just finished its third month in a row of gains , ending up more than 20% in March. It also posted its best quarter (advancing more than 70%) since the first quarter of 2021, when the last bull run began. So far this year, crypto investors have overcome several obstacles – chief among them the…

FDIC reportedly places SVB funds, including customer deposits, under receivership 

A fortnight after the newly appointed Silicon Valley Bank (SVB) chief executive officer (CEO) cheered customers to return funds to the bank, the Federal Deposit Insurance Corporation (FDIC) has reportedly sent emails informing customers that their funds were in receivership.  Mayopolous woos depositors  Developments emanating from the embattled SVB, after Mayopolous’ advice, have shocked depositors as the FDIC has reportedly put depositors’ funds in receivership.  Most customers had returned their money to the bank following the advice of Tim Mayopoulus, the newly appointed CEO of SVB. Mayopoulus had assured the customers…

BTC price targets fix on $35K as Bitcoin eyes ‘massive’ liquidity squeeze

boss

Bitcoin (BTC) stayed on course for its highest weekly close in ten months on April 2 as $28,000 held. BTC/USD 1-week candle chart (Bitstamp). Source: TradingView BTC price analyst: “Massive” liquidations due at $30,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD stable over the weekend after closing out March at near $28,500. A key point of resistance from earlier in its current halving cycle, the current trading zone represents a major hurdle for bulls to overcome. Should they manage it, price targets now extend beyond the $30,000 mark.…

German Stock Exchange Boerse Stuttgart to Provide Crypto Custody Through Licensed Subsidiary – Exchanges Bitcoin News

boss

Blocknox, a subsidiary of one of Europe’s largest stock exchanges, Boerse Stuttgart, has been licensed to operate as a crypto custodian in Germany. The authorization will allow the company to offer custody services for digital assets to institutional investors across the Old Continent. Boerse Stuttgart Subsidiary Blocknox to Offer Crypto Custody Services Under Bafin License Germany’s second-largest stock exchange and one of the largest in Europe, Boerse Stuttgart, will be able to provide European banks, brokers, asset managers, and family offices with both trading and custody solutions for their crypto…

Crypto Exchange Bittrex in the Process of Winding Down US Operations Amid Regulatory and Economic Uncertainty

boss

Seattle-based crypto exchange Bittrex will soon stop serving US customers as federal regulators clamp down on the digital asset industry. Bittrex co-founder Richie Lai says the company has made the decision to shut its doors in the US as the crypto exchange believes it is no longer feasible to continue operating in the country given the current regulatory conditions. “Today is a bittersweet day. This month we turned nine years old; and while I am excited and proud that we’ve come this far, I am also very sad. Today, Bittrex…

Crypto ATM Numbers Drop by 13.91% Since December 2022, Over 3,600 Went Offline in March – Bitcoin News

According to data from the cryptocurrency automated teller machine (ATM) aggregation website Coin ATM Radar, over 3,600 crypto ATMs went offline in March. Since the end of 2022, the number of crypto ATMs has declined by 13.91% in the last three months. Crypto ATM Numbers Decline in 2023 According to data from Coin ATM Radar, the number of crypto ATMs worldwide has decreased by 13.91% since December 2022. At that time, 39,179 crypto ATMs were installed globally. In January, 1,587 crypto ATMs went offline, marking the second time a large…

Trump NFTs pump after indictment, Q1 trading volume hits $4.7B and more…

boss

Oddly, following news of a New York Grand Jury voting to indict former president Donald Trump on March 30, the floor price for the officially licensed Trump Digital Trading Cards NFT project pumped. According to data from OpenSea, NFT traders were seemingly spurred into action by the announcement, with the floor price moving from 0.46 Ether (ETH) or $835 at current prices, to as high as 0.6 ETH ($1090) on the same day. Trump Digital Trading Cards floor price. Source: OpenSea It is worth noting that when the project launched…

Crypto Exchange Bittrex Shuts Down US Operations Due to Regulatory Uncertainty – Regulation Bitcoin News

boss

Cryptocurrency exchange Bittrex is shutting down its U.S. operations due to “continued regulatory uncertainty” as U.S. regulators increase their enforcement efforts against cryptocurrency trading platforms. Regulatory requirements currently “are often unclear and enforced without appropriate discussion or input, resulting in an uneven competitive landscape,” Bittrex described. Bittrex Exiting U.S. Crypto Market Cryptocurrency exchange Bittrex announced the shutdown of its U.S. operations on Friday. The exchange tweeted: Due to continued regulatory uncertainty, we have made the difficult decision to wind down our U.S. operations, effective April 30, 2023. “All funds are…

CZ, Binance, influencers face $1B lawsuit for unregistered securities promo

boss

Just five days after Binance and its CEO Changpeng ‘CZ’ Zhao got sued by the United States Commodity Futures Trading Commission (CFTC) for alleged trading violations, a new $1 billion lawsuit was filed against the crypto exchange, CZ, and three crypto influencers for promoting unregistered securities. On March 31, the Moscowitz Law Firm and Boies Schiller Flexner filed the $1 billion lawsuit in the Southern District of Florida claiming Binance’s involvement in trading unregistered securities and paying influencers for the unlawful promotion of such services, according to Fortune. While explaining…