Day: February 1, 2024

Celsius to start paying over $3b to creditors

Bankrupt crypto lender Celsius claims to have started paying its creditors up to $3 billion. According to the company’s press release, they are discussing the distribution of cryptocurrency and other assets worth $3 billion among the platform’s creditors. The payments became part of a plan to reorganize the failed crypto lender. The plan includes distributing more than $3 billion to Celsius‘ creditors and creating a new bitcoin mining company, Ionic Digital, Inc., which Celsius’ creditors will own. Hut 8 Corp will manage its mining operations. “Today, under the MiningCo Transaction,…

Bitcoin Price Decline To Resume? These Could Be The Factors To Watch

Bitcoin price struggled to clear the $43,750 resistance. BTC is now declining and there could be more losses if there is a move below the $41,800 level. Bitcoin price is slowly moving lower from the $43,750 resistance zone. The price is trading below $42,800 and the 100 hourly Simple moving average. There was a break below a connecting bullish trend line with support near $42,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to decline if there is a close below the…

India Keeps Stiff Taxes on Crypto as Interim-Budget Is Revealed in Election Year

“Digital public infrastructure and the PM’s aspiration for [innovation] will benefit from integrating provisions for long-term financing of domestic crypto projects given how India is at a pivotal phase in the crypto revolution,” said Rajagopal Menon, vice president of cryptocurrency exchange WazirX. “We expect these developments to factor in the government’s agenda along with our existing requests for a reduction in TDS rates to 0.01% and offset of losses for traders.” Source

It May Be Time For Bitcoin Traders to Focus on John Bollinger’s Price Bands Again

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Spot Trading Volume Reaches $427 Billion

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According to a recent CoinGecko report, Binance, the world’s largest centralized exchange (CEX) by trading volume, has retained its market leadership position in 2023.  Despite facing increased regulatory scrutiny and undergoing significant leadership changes, Binance maintained a market share of 43.7% and saw its spot trading volume rise to $427.1 billion in December 2023, representing a 37.5% month-on-month (MoM) increase. Binance Trading Volume Reached $3.8 Trillion In 2023 According to CoinGecko’s report, Binance started the year with a commanding 63.5% market share but experienced a gradual decline throughout 2023, ending…

Bitfinex Securities Starts Operations In El Salvador

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Over the last few years, El Salvador has been making considerable efforts to become Latin America’s crypto hub. Today, two and a half years after adopting Bitcoin as a legal currency in the country, Bitfinex Securities announced the launch of Bitfinex Securities El Salvador S.A., the first platform to offer tokenized securities. Launching The First Licensed Digital Asset Platform In El Salvador On January 31, 2024, Bitfinex Securities officially became the first registered and licensed digital assets service provider to launch in El Salvador, and it’s now accepting customer applications. …

Jack Dorsey’s Block lays off 10% of staff

Block, owned by Twitter founder Jack Dorsey, has laid off large-scale layoffs of more than 1,000 employees. Block is reportedly terminating 10% of staff in a move meant to purge “a large number of teammates” to streamline operations, according to a memo seen by Business Insider. The layoffs, which occurred throughout January, affected employees of the Cash App, Foundational and Square divisions, affecting approximately 10% of the staff, the report further specified. “We decided it would be better to do at once rather than arbitrarily space them out, which didn’t…