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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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...
Share Dialog
Share Dialog
A recently leaked recording of Celsius' leadership call is shining some light into how they might get into the good graces of their customers again. A proposal for paying back customers might include giving wrapped assets that can be traded on other platforms. Here is the general breakdown:1) Celsius' remaining funds would be allocated into certain wallets 2) Then issue Celsius-wrapped tokens, known as Cx tokens, to represent the ratio of how much the firm owes to how much it has on hand. Ex. Customers waiting to redeem their bitcoin will receive CxBTC or CxETH tokens.The other option is to decline the wrapped token, and wait for a larger payout when additional revenue is realized. As markets go up, any assets held by Celsius will go up as well.
I find this to be an interesting idea, but will depend on the market demand for Celsius-wrapped tokens. If Celsius is able to clear all Chapter 11 hurdles, they might end up being bullish and the wrapped tokens might increase in value as well. Even waiting for the larger payout could be great too. As long as Celsius has a plan to pay back their loyal customers, unlike some of the other disgraced DeFi lenders in the last 6 or so months, then I guess all we can do is just hope it comes to fruition some day.
Written by: nikethereum.eth / Medium / Mirror
A recently leaked recording of Celsius' leadership call is shining some light into how they might get into the good graces of their customers again. A proposal for paying back customers might include giving wrapped assets that can be traded on other platforms. Here is the general breakdown:1) Celsius' remaining funds would be allocated into certain wallets 2) Then issue Celsius-wrapped tokens, known as Cx tokens, to represent the ratio of how much the firm owes to how much it has on hand. Ex. Customers waiting to redeem their bitcoin will receive CxBTC or CxETH tokens.The other option is to decline the wrapped token, and wait for a larger payout when additional revenue is realized. As markets go up, any assets held by Celsius will go up as well.
I find this to be an interesting idea, but will depend on the market demand for Celsius-wrapped tokens. If Celsius is able to clear all Chapter 11 hurdles, they might end up being bullish and the wrapped tokens might increase in value as well. Even waiting for the larger payout could be great too. As long as Celsius has a plan to pay back their loyal customers, unlike some of the other disgraced DeFi lenders in the last 6 or so months, then I guess all we can do is just hope it comes to fruition some day.
Written by: nikethereum.eth / Medium / Mirror
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