The Celsius Network has turned to legal experts to help it explore restructuring options. The crypto lender has hired Kirkland & Ellis LLP law firm to advise it on restructuring and help overcome the ongoing liquidity crisis. Celsius was among the companies that were dealt a blow by the collapse of Terra LUNA and the …
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Research conducted by the United Nations revealed that 8.5% or around 4.25 million people in Kenya owned cryptocurrencies. The country is leading the African continent in cryptocurrency adoption despite lacking a supervisory environment. 8.5% of the Kenyan population owns crypto Kenya is one of the leading technology and innovation hubs in Africa. Over the years, …
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CoinFLEX is among the crypto firms affected by the bearish conditions across the market. The crypto investment firm is looking into how it can reclaim $84 million worth of funds from the whale account. CoinFLEX to arbitrate on $84M deficit The CoinFLEX arbitration process with the unnamed whale account is expected to happen in Hong …
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The largest whales on the Ethereum (ETH) network are jumping into a series of different altcoins associated with the metaverse sector over the last seven days, according to blockchain tracking service WhaleStats. As per WhaleStats’ on-chain data, virtual world The Sandbox (SAND) is currently by far the most purchased metaverse altcoin among Ethereum’s top 5,000 …
A popular crypto analyst and trader says that Bitcoin’s (BTC) bear market could be nearing its conclusion. In a new strategy session, Benjamin Cowen tells his 756,000 YouTube subscribers that he’s looking at Bitcoin’s running return on investment (ROI) and comparing its current performance against the 2018 and 2014 bear cycles. According to Cowen, Bitcoin’s …
ING Group, Dutch multinational banking and financial services corporation, has spun out its digital asset business Pyctor to multi-asset trading infrastructure firm GMEX. GMEX has acquired ING’s institutional-grade digital asset custody solution Pyctor in a multi-million dollar deal, the companies said in a joint announcement on Monday. The Pyctor offering compliments GMEX’s MultiHub service, an …
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The European Central Bank (ECB) has released a report analyzing the growth of the cryptocurrency market over the past decade and the risks it poses to the existing financial system. A section of the report dedicated to stablecoins discussed the central role that it plays in the current ecosystem. Stablecoins are increasingly used to interlink various blockchain …
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The excitement surrounding Web3 is palpable — and undeniable. Projects are flooding into the space to build cutting-edge versions of the sites and apps served up by centralized Web2 rivals, covering every sector imaginable. But at this point, it’s worth taking a step back and reflecting on the challenges that the Web3 world still needs …
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Asset management firms continue to fight for a spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States as regulators remain skeptical of the idea. Craig Salm, chief legal officer at asset manager Grayscale, discussed the firm’s lawsuit with the United States Securities and Exchanges Commission (SEC) regarding the conversion of the Grayscale Bitcoin Trust (GBTC) into …
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Bitso, a Mexican-based, Latam operating cryptocurrency exchange, announced it is launching a remittance service in Colombia. The company will now allow its customers in Colombia to send and receive remittances using dollar-pegged stablecoins on the platform. The exchange launched a similar service in Mexico last year in partnership with Circle. Bitso Expand Remittances Program to …
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Binance, one of the largest crypto exchanges worldwide, has secured a license from the Bank of Spain that will let the exchange operate in compliance with the local laws. This certification means that the exchange is currently complying with its AML/KYC processes required by the government of the country. More than 17 companies have received …
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A widely followed crypto strategist says he’s expecting to witness bullish continuations for Cardano (ADA), Binance (BNB) and two additional crypto assets. Analyst Michaël van de Poppe tells his 615,800 Twitter followers that smart contract platform Cardano must take out its immediate resistance at $0.47 to ignite the next leg up. “This one is looking …
Bitcoin (BTC) starts another week in a precarious position near $20,000 ahead of fresh macro upheaval. After admittedly sealing its best week’s gains since March, the largest cryptocurrency is struggling to hold onto its recently-reclaimed levels. Major resistance zones remain overhead, and with inflation data due for release later in the week, the coming days …
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Crypto exchange OKX has announced that it has made a deal with English Premier League (EPL) champions Manchester City to become the team’s training kit sponsor for the 2022-23 season. Despite the current bear market, it appears that crypto and sports partnerships have been going strong, with fellow EPL team Everton also recently signing a …
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Bitcoin Revisits Its Previous Low as It Faces Stiff Resistance at $22.4K – July 10, 2022 BTC/USD declines to the previous low as it faces stiff resistance at $22.4K. Since July 7, Bitcoin (BTC) has been trading between the moving average lines. In the meantime, the BTC price is retracing to the downside. The cryptocurrency …
