Lending platform Celsius informed potential buyers that the deadline for submitting bids for participation in the auction has come to an end and the sale of assets is scheduled for January 2023. The Bankruptcy Court for the Southern District of New York has set an auction for the sale of Celsius assets on January 10. The company said it has already received more than 30 offers with various options for acquiring its assets or business…
Cryptocurrency exchange Binance US has offered the best conditions for the buyback of Voyager Digital assets – the transaction should be closed by April 18, 2023. The US subsidiary of the Binance cryptocurrency exchange has won a tender to acquire the assets of a bankrupt crypto lender worth more than $1 billion. Voyager said that Binance US’s offer has been the best so far. A buyback date has not yet been set, but Binance decided…
Representatives of the Coinbase crypto exchange, referring to the user agreement, demanded that the dispute in the lottery case with Dogecoin be considered in private arbitration, and not in general court order. But the US court refused the trading platform. Former clients filed a lawsuit against the American crypto exchange. Users claim to have been scammed into paying $100 or more to enter the Coinbase Dogecoin contest. Last June, the platform was raffling off $1.2…
It’s not every day that you come across a broker with a vision to make a positive impact beyond the world of finance. CedarFX, however, is changing that perception. The leading online broker has recently launched a revolutionary Eco Account option to its traders, making it the first-ever Eco-conscious broker to exist! Through their various account options, CedarFX is dedicated to helping traders reach higher by offering ultra-high leverage and low spreads. Traders can get…
The Japanese government intends to ease the tax burden on local crypto firms and exclude paper profits from the tax base. In the middle of this year, the Japan Crypto Asset Business Association (JCBA) and the Japan Virtual and Crypto Asset Exchange Association (JVCEA) petitioned the Financial Services Agency (FSA) to reduce the tax burden of local cryptocurrency companies. The initiative group has asked the regulator to exclude taxation of paper profits from cryptocurrency assets…
Binance CEO Changpeng Zhao believes that the vast majority of users do not have the knowledge to store cryptocurrencies on their own and therefore may lose assets. Changpeng Zhao supports self-custody, but emphasizes that it must be “do the right thing.” During a recent conference, Zhao noted that often users do not pay enough attention to storing wallet keys, which leads to the loss of either keys or assets in addresses. “For most people, I…
In response to a recent media attack, Tether, the issuer of the USDT stablecoin, said it would reduce secured loans in USDT reserves to zero over the next year. Tether explained that stablecoin-backed loans work similarly to loans from private banks that use collateral. However, unlike banks that operate with fractional reserves, Tether loans are more than 100% secured, the company claims. “Tether is managed professionally and conservatively, and this will once again be demonstrated…
Building a Diverse Trading Portfolio A look at the importance of risk mitigation through diversifying your portfolio. When it comes to online trading, portfolio diversification is a powerful tool used by investors to mitigate risk. This strategy involves investors holding multiple assets across varying markets, industries and geographical jurisdictions in order to spread their exposure and decrease the risk of loss due to one industry collapsing. The Benefits of a Diversified…
FTX founder Sam Bankman-Freed has been arrested by the Royal Bahamas Police Force after being formally notified by the U.S. government of a criminal case against him. Sam Bankman-Fried, the former head of bankrupt cryptocurrency exchange FTX, was arrested by Bahamian authorities on Monday evening at the request of the US government. Manhattan U.S. Attorney Damian Williams confirmed that he filed charges against Bankman-Fried on Monday, Dec. 12, with the contents of the indictment to…
The largest cryptocurrency exchange in the world announced that it has temporarily blocked some of the accounts that managed to earn on the recent abnormal volatility of a number of cryptocurrencies. Binance explained its actions as “anomalous price movements in certain trading pairs”: “We are aware of anomalous price movement in some trading pairs on Binance, including assets like SUN, ARDR, OSMO, FUN, and GLM. This activity is not related to account hacking or API…
