Embattled crypto lending outfit Celsius, whom paused withdrawals and deposits last month, has been working hard to pay down debts with other institutions in order to unlock a trove of Bitcoin that was used as collateral, possibly paving the way to resume withdrawals for their very angry users. One of the more substantial payoffs recently was to Maker for $183m worth in debt, which resulted in unlocking $40m in Wrapped Bitcoin. However, they still have a 41 million DAI debt note, which will unlock $440m Wrapped Bitcoin! This could possibly mean they could sell it on centralized exchanges or via over-the-counter to unfreeze activities. They've also made some board changes that might also signal they are ready to resume their business.
Finally some good news! Hopefully those worried users get their money back soon enough!
Written by: nikethereum.eth / Medium
Embattled crypto lending outfit Celsius, whom paused withdrawals and deposits last month, has been working hard to pay down debts with other institutions in order to unlock a trove of Bitcoin that was used as collateral, possibly paving the way to resume withdrawals for their very angry users. One of the more substantial payoffs recently was to Maker for $183m worth in debt, which resulted in unlocking $40m in Wrapped Bitcoin. However, they still have a 41 million DAI debt note, which will unlock $440m Wrapped Bitcoin! This could possibly mean they could sell it on centralized exchanges or via over-the-counter to unfreeze activities. They've also made some board changes that might also signal they are ready to resume their business.
Finally some good news! Hopefully those worried users get their money back soon enough!
Written by: nikethereum.eth / Medium
This Week’s Winners and Losers in Crypto
Big week in crypto! Banks going down causing BTC to go up. Alts (sort of) following suit. But who are the biggest winners and losers for the week? Biggest Winner(s): Arbitrum Airdrop Participants Thursday was a big day for those eligible for the coveted Arbitrum airdrop, but there were bumps along the way. The claim site was down from almost moments when it went live, and was nearly inaccessible for hours. However, after the dust settled, the price hovered above what estimates predicted (>$1)...
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This Week’s Winners and Losers in Crypto
Big week in crypto! Banks going down causing BTC to go up. Alts (sort of) following suit. But who are the biggest winners and losers for the week? Biggest Winner(s): Arbitrum Airdrop Participants Thursday was a big day for those eligible for the coveted Arbitrum airdrop, but there were bumps along the way. The claim site was down from almost moments when it went live, and was nearly inaccessible for hours. However, after the dust settled, the price hovered above what estimates predicted (>$1)...
Post FTX: Bananas In The Bahamas
FTX’s spectacular implosion sent ripples which was felt by all through the cryptoverse, but has also hit the people of the Bahamas, where FTX was headquartered. According to a report in the WSJ, the island nation initially welcomed FTX with it’s lax and favorable crypto laws and eventually the locals became the supporting cast for FTX employees. Catering, security, transportation, event planning, logistics and many more services were required and the locals began taking up these jobs, creatin...
STOCK Act Gets Busted
Nancy Pelosi might not be too keen on the reformation bubbling up in her backyard. On Thursday, a new framework was released to change the policy known as the STOCK Act, aka "Stop Trading on Congressional Knowledge", which puts the onus on congressional and government leaders to disclose stock and asset purchases, in order keep transparency with the public. Historically, there have been quite a few calls on leaders to stop purchasing stocks because of the potential of insider knowledge on upc...
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