Tag: Report

New ‘Celsius token’ may be used to repay creditors: report

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Bankrupt crypto lending firm Celsius may issue its own token to repay creditors, according to a January 24 report from Bloomberg. The report cites a video court hearing as the source of the information. According to the report, Celsius attorney Ross M. Kwasteniet told the court that the firm is negotiating with its creditors on how to relaunch the platform and adequately pay them back. The new, relaunched version would be “a publicly-traded company that is properly licensed,” which could allegedly provide more money for creditors than simply liquidating the…

Why is crypto pumping? Watch The Market Report live

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This week on The Market Report, the resident experts at Cointelegraph discuss the real reasons behind the recent price pump in the market. Can this lead to a $25,000 Bitcoin (BTC) and beyond, or will some unforeseen event ruin the party? Tune in to find out. We start off this week’s show with the latest news in the markets: Stablecoin data points to ‘healthy appetite’ from bulls and possible Bitcoin rally to $25K Bitcoin rallied 11% between Jan. 20 and Jan. 21, reaching the $23,000 level and shattering bears’ expectations…

BlockFi to sell $160M in Bitcoin miner-backed loans: Report

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Bankrupt crypto lending firm BlockFi has plans to sell off $160 million in loans backed by around 68,000 Bitcoin mining machines as part of bankruptcy proceedings, according to reports. In a Bloomberg report on Jan. 24, two people “familiar with the matter” claim that BlockFi started the process of selling off the loans last year. The crypto lender filed for Chapter 11 bankruptcy in Nov. 2022, citing its significant exposure to the now-defunct crypto exchange FTX for its downfall. However, some of these loans have already defaulted since then and could…

Crypto Exchange Coinbase Secures Big Sponsorship With Iconic German Soccer Team: Report

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US-based crypto exchange Coinbase is reportedly set to become a premium partner of German soccer team Borussia Dortmund (BVB). According to a report from Handelsblatt, the largest crypto trading platform in the US will get more sponsorship arrangements with BVB once Germany’s primary football league, the Bundesliga, resumes after the winter break.  Coinbase has been BVB’s partner since July last year, with the trading platform providing crypto education to the sports club’s employees.  The expanded partnership will enable the exchange to get perimeter advertising and cam carpets in Signal Iduna Parl…

Crypto Exchange Gemini Cutting Another 10% of Staff: Report

“It was our hope to avoid further reductions after this summer, however, persistent negative macroeconomic conditions and unprecedented fraud perpetuated by bad actors in our industry have left us with no other choice but to revise our outlook and further reduce headcount,” wrote Cameron Winklevoss, the president and co-founder of Gemini,  in the internal message. Source

U.S. home-loan banks lent billions of dollars to crypto banks: Report

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The United States Federal Home Loan Banks System (FHLB) is lending billions of dollars to two of the largest cryptocurrency banks in an effort to mitigate the effects of a surge in withdrawals, according to a report from The Wall Street Journal on Jan. 21.  The FHLB is a consortium of 11 regional banks across the United States that provide funds to other banks and lenders. Founded during the Great Depression to support housing finance, the system has $1.1 trillion in assets and over 6,500 members. Traditional finance has remained…

Bankrupt Crypto Exchange FTX Could Restart Operations, Says New CEO: Report

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John J. Ray III, the bankruptcy lawyer who replaced Sam Bankman-Fried as FTX CEO, is reportedly considering the idea of rebooting the beleaguered crypto exchange. The Wall Street Journal reports that Ray has set up a task force to find out if restarting the former crypto behemoth could be a better alternative to selling its assets. In his first interview since becoming FTX’s new boss, Ray says the company is considering all possible options to retrieve funds. His statement comes as some customers suggest that there could be value in…

Ericsson Q4 2022 Earnings Report Sees Income Slide on Waning 5G Equipment Sales in Key Markets

Swedish telecoms giant Ericsson says despite its poor Q4 2022 earnings, it sees significant patent revenue growth in the next 24 months.  Ericsson recently reported a larger-than-anticipated decline in its Q4 2022 earnings statement. The Swedish telecommunications giant said its underwhelming fourth-quarter earnings are due to a slowdown in sales of 5G equipment in high-margin markets. The pullback in spending on 5G networks by some customers, most notably in the US, saw Ericsson shares decline to a four-year low. Furthermore, the multinational networking and telecommunications company’s latest report comes amid…

BTC, ETH, DOGE, and ADA Are Undervalued, Report Indicates

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Despite the increase in market capitalization, which shows investors might be returning, big large caps are still deemed undervalued. In a tweet posted today by blockchain intelligence firm Santiment citing the MVRV Z-score, Binance coin (BNB) is the only overvalued crypto amongst tokens with a large market cap. Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Cardano (ADA), Dogecoin (DOGE), Polygon (MATIC), Shiba Inu (SHIB), Uniswap (UNI), and Chainlink (LINK) are very much still undervalued. Price Outlook On BTC, ETH, And Undervalued Large Caps Santiment reported that BTC, ETH, XRP, ADA, DOGE,…

NFT sales topped 101 million in 2022: DappRadar report

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Over the last year, nonfungible tokens (NFTs) continued to play an important role in the growing Web3 industry. NFTs initiated a shift away from hype-based drops, to utility-centric projects with long-term value. A new DappRadar report on blockchain and decentralized application (DApp) adoption in 2022 revealed that the NFT sale count last year reached 101 million. This is a 67.57% increase from the previous year. According to the report, the Ethereum ecosystem holds the top spot in the NFT ecosystem, holding 21% of the market share and over 21.2 million transactions…