The crypto ecosystem was quick to presume that Robinhood’s social accounts, which have 1.6 million followers across Instagram, Twitter and Facebook, had been hacked, and that the launch of the RBH token on the Binance Smart Chain was a fraudulent crypto project. Source
An unknown group or individual has hacked the Twitter account behind crypto and stock trading platform Robinhood to push users to buy a ‘new’ token. Many Crypto Twitter users reported on Jan. 25 that Robinhood had posted a tweet calling on its 1.1 million followers to each pay $0.0005 for a token called ‘RBH’ on the Binance Smart Chain. Conor Grogan, the head of product business operations at Coinbase, reported at least 10 people had purchased roughly $1,000 worth of the scam token before the tweet was removed. Likely due to…
“If traders are willing to open short positions with highly negative funding rates, they must have belief the token will decline,” Christopher Newhouse, a crypto derivatives trader at crypto market maker GSR, said. “Despite the surge, this suggests shorts think the rally may have gone too far.” Source link
Next month’s 150 million token unlock has been reduced, with 83 million tokens allocated to investors being locked until December. Source
Customers are allowed to withdraw funds transferred to the platform after the bankruptcy petition date in the form of crypto “net of any gas fees or transaction costs,” according to the order. The withdrawals will need to be approved by the appointed committee of creditors should the transfer amount exceed $40,000 (and the transferor received more than of $200,000 from Celsius during the three months leading up to the bankruptcy filing). Source
Embattled crypto lender Celsius plans to use a new bankruptcy digital currency token to pay off its creditors. According to reports, Celsius Network LLC may issue a bankruptcy crypto token to repay creditors. This development forms part of a broader “recovery corporation” scheme by the bankrupt crypto lender to remerge as a new publicly traded company. After fielding several uncompelling acquisition bids, Celsius attorneys opine that liquidating would generate fewer funds than reorganizing. Celsius Intends to Roll Out Bankruptcy Crypto Token Sooner Celsius announced that its reorganization and bankruptcy digital…
If all goes to plan, this “Open Door” could boost Marinade’s TVL sevenfold, Marinade developers told CoinDesk. They want to drive more users into Marinade’s mSOL token, the so-called “liquid staking derivative” token that accesses the value of depositors’ locked away SOL tokens while they generate yield from securing the Solana network. Source
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…
The metaverse hype that began in 2021 dissolved almost entirely by the end of 2022 as the top projects in the space, Decentraland, and The Sandbox, lost 95% of their market capitalization. The most prominent reason for the fall was lack of usage growth. Still, the metaverse narrative is far from dead and will grow in the future. Reportedly, Apple will launch its VR gear sometime in spring 2023. The announcement was a positive catalyst for MANA and SAND, causing a double-digit price surge. While there’s evidence of positive buying…
There is also a sophisticated trading element to the value increase. Historically, in the cases of the IMX and APE tokens late last year, token unlocks caused a period of downside price action. This prompted traders to short the tokens before the event, but based on the recent flurry of short liquidations on AXS, it appears this trade has become overcrowded, leaving it vulnerable to the other side due to a lack of liquidity. Source