Month: June 2023

Celsius Faces Creditor Pushback Over Bankruptcy Exit Plan

Some creditors are unhappy with the revealed plan and have expressed their opposition. Insolvent crypto lending platform, Celsius, has filed an updated plan to exit bankruptcy with the help of crypto consortium Fahrenheit. However, the plan faces opposition from creditors who are unhappy with the deal and want their money back. Celsius’ Journey Out of Bankruptcy Celsius filed for Chapter 11 bankruptcy protection in April 2022, hoping to restructure its debt and find a buyer for its assets. In October, the company launched an auction for its assets. Following several…

Celsius seeks to convert alts to Bitcoin and Ether under reorganization plan

boss

Defunct crypto lender Celsius has revised its bankruptcy filing awaiting approval from a bankruptcy court in New York after a successful acquisition deal with Fahrenheit. The crypto lender filed its reorganization plan on June 15. Under the revised plan Celsius will be selling all altcoins from all customers except Custody and Withhold accounts and converting them into Bitcoin (BTC) and Ether (ETH), starting from July 1. Celsius will be selling all altcoins from all customers (except Custody and Withhold accounts) starting July 1st and will be converting them into Bitcoin…

US Prosecutors to Reduce Criminal Charges on FTX Founder SBF in October Trial

The DoJ prosecutors have eliminated five charges relating to fraud, conspiracy, and bribery initially levied against the disgraced FTX founder. In a court filing on Wednesday, June 14, prosecutors with the US Department of Justice (DoJ) told the district judge that they would be proceeding with eight charges in the trial levied against FTX founder Sam Bankman-Fried back in December 2022. The DoJ lawyers also cited a motion filed by SBF in the Bahamas wherein he argued that the 13 charges that he faced were not in the original indictment,…

How blockchain technology makes it easier for Africans to upskill

boss

The latest episode of Cointelegraph’s Hashing It Out podcast delves into how blockchain technology is changing how young Africans interact with each other. Joining host Elisha Owusu Akyaw for the conversation is Eric Annan, the CEO of Aya, a platform that uses blockchain technology to provide training and connect Africans to the job market.  Annan, a Web3 entrepreneur, entered the cryptocurrency space after resigning from his job at a tech firm. He then moved to Nigeria, where his first business failed due to regulatory changes from the Nigerian central bank. He…

OKX Middle East Receives MVP Preparatory License From VARA in Dubai – Blockchain News, Opinion, TV and Jobs

UAE to serve as strategic global and regional business hub, OKX to expand to 30 staff OKX, the second-largest crypto exchange by trading volume and a leading Web3 technology company, today announced that OKX Middle East Fintech FZE (OKX Middle East) has received a Minimal Viable Product (MVP) Preparatory license from the Dubai Virtual Assets Regulatory Authority (VARA). The UAE is a key strategic growth and business hub for OKX globally and in the region, and the company plans to scale OKX Middle East’s operations. As part of this effort,…

Fintech Unicorn Zepz Eyes Expansion via Mergers and Acquisitions

Zepz CEO revealed that the company is preparing to introduce its first digital wallet, with a focus on meeting the requirements of migrant communities that frequently send money home. In the fast-paced world of financial technology, staying ahead of the competition often necessitates bold and clever initiatives. with Zepz targeting expansion through Mergers and Acquisitions (M&A). The CEO of Zepz, Mark Lenhard, recently shared this exciting development in an interview with CNBC. While specific details regarding potential targets were not disclosed, the move signals Zepz’s determination to strengthen its position…

Cross-Chain Bridge deBridge Rolls Out Exchange That Doesn’t Need Liquidity Pools

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity…

Binance goes for bitcoin cloud mining despite regulatory uncertainty

boss

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Amidst stringent regulatory scrutiny in the US, Binance is diving headfirst into the crypto mining landscape with a new subscription-based cloud mining service for bitcoin. As of June 15, the company unveiled its novel cloud mining services, catering specifically to Bitcoin (BTC) mining aficionados who lack the requisite hardware to participate directly. For those new to the concept, cloud mining involves leveraging a data center’s computing power to mine cryptocurrency, in this case, bitcoin. Hashrate, the…