Not even 24 hours after revealing a three-month cash flow forecast that threatens total exhaustion of funds, a New York judge allowed crypto lender Celsius Network to mine and sell Bitcoin (BTC) during its bankruptcy. Since July 2022, Celsius Networks stands at the crosshair of United States officials after reports of bankruptcy surfaced, which risks losing the live savings of numerous crypto investors. Last week many got very upset with me as I said @CelsiusNetwork would run out of money & solutions needed to be acted upon faster. I was told I don’t understand Chapter 11. They have now confirmed …

Nonfungible tokens (NFTs) have taken the world by storm over the last year. Digital collectibles that were characterized solely as CryptoKitties in 2017 have since evolved into famous pieces of art, digitized music, high-end fashion for the Metaverse and a way for communities to connect with others across the globe. Even with the current crypto bear market, recent findings from the research firm Security.org found that NFT ownership has doubled over the last year, rising from an estimated 4.6 million people to 9.3 million people. The report also discovered that while the vast majority of Americans are not ready to …

Staking software and investment firm KeyFi Inc. has filed a complaint against beleaguered crypto-lending firm Celsius, alleging the company had been operating in a Ponzi-style fashion and that it failed to honor a profit-sharing agreement “worth millions of dollars.” The complaint, filed on Thursday, alleges that Celsius has refused to honor a “handshake agreement” in which KeyFi would receive various percentages of the profits it made on Celsius’s behalf via a number staking and decentralized finance (DeFi) strategies. The complaint also accuses Celsius of “negligent misrepresentation” over its risk management controls and “fraud in the inducement” via misleading information of …

The billion-dollar music industry is undergoing a major transition as artists begin to understand the potential of owning their work through nonfungible tokens (NFTs). Ashanti, the multi-platinum-selling singer, actress and co-founder of EQ Exchange — a women-led Web3 platform — recently shed light on this during a Cotton Candy Records meetup that took place on June 20 in New York. Speaking on a panel alongside Janice Taylor, founder and CEO of EQ Exchange, Ashanti went into detail about how important ownership is for creators today. Drawing from personal experience, Ashanti said: “It is incredibly important to continue the narrative that …

Following the conclusion of the fourth annual NFT.NYC conference, attendees took the opportunity to reflect upon a week of artistic inspiration, community networking and developer innovation from within the nonfungible token (NFT) space. A sequel to last year’s popular debut, The Digital Diaspora event on June 19 served as a dedicated exhibition, panel discussion, and fundraiser to amplify the voices and creative talents of artists of color in the NFT space. The event was a collaboration between the renowned skyscraper photographer DrifterShoots and youthful rising-star artist Diana Sinclair, in partnership with sponsors MetaMask and Samsung, and was hosted at the …

A man impersonating hip-hop icon Snopp Dogg went around NFT.NYC to fire things up at the nonfungible token event. While the intention was to bring some fun to the conference, there were mixed reactions from the online community. In a tweet, Kevin Collier shared his encounter with the fake Snoop Dogg in Times Square. According to Collier, the guy who dressed up as the well-known rapper was not really Snoop Dogg but an impersonator hired to “drum up excitement.” Collier added that the experience “feels like a metaphor,” hinting at the copyright issues surrounding NFTs. Twitter user Regiscake shared a …

NFT.NYC, one of the largest nonfungible token events, is preparing to open its doors for a fourth year, celebrating the diversity of NFTs across 16 sectors, including art, film, sports and ticketing. Held from June 20 to 23 in New York City, the blockbuster event will serve as a global melting pot of everybody who's anybody in the NFT world, showcasing 1,500 speakers across panels, talks, fireside chats and hundreds of pop-up events. Attendance figures are expected to soar from last year's 5,600 to over 15,000 this time around. Cointelegraph spoke to Jodee Rich, co-founder of NFT.NYC, and Quinn Button, …

Benjamin Delo, co-founder of cryptocurrency exchange BitMEX, has been sentenced to 30 months probation for violating the Bank Secrecy Act (BSA), which is an Anti-Money Laundering (AML) law. The sentence, handed down at a federal court in New York on Wednesday, follows his guilty plea to charges in February of “willfully failing to establish, implement and maintain an Anti-Money Laundering (AML) program” in his role at BitMEX. Prosecutors had argued Delo should serve a year in prison or at least receive a two-year probation and six months of home detention, as was given to former CEO Arthur Hayes in May. …

Legendary New York hip-hop artist and producer, Jay-Z has joined forces with the founder of Cash App, Jack Dorsey, to launch "The Bitcoin Academy," an educational program advocating for the democratic vision that “education is power.” Exclusively available for residents of the Marcy Project public housing complex in New York City, the scheme will commence June 22 and run until Sept. 7 with options for both in-person and online attendance. The free educational program is designed to enhance access to financial information and promote inclusive opportunities. Taught by educators Lamar Wilson of the Black Bitcoin Billionaire and Najah J. Roberts …

New York Governor Kathy Hochul has yet to publicly commit to signing a controversial bill that would ban proof-of-work (PoW) crypto mining, instead noting that her team will be looking “very closely” at the proposal over the next few months. If she signs the bill into law, PoW crypto mining operations backed by fossil fuels would no longer be able to set up shop or renew existing licenses in the state of New York. Under the new regulations, only PoW operations backed 100% by renewable energy would be able to operate. The New York State Senate passed the bill on …

As the state of New York pushes forward a bill that will ban proof-of-work (PoW) mining once approved, members of the crypto community express their disagreement through social media. In a Twitter thread, Jake Chervinsky, the head of policy at Blockchain Association, explained that the move will not “reduce carbon emissions” at all. According to Chervinsky, a mining ban will only push miners away from New York to build in other areas where the state has no influence over them. Chervinsky hopes that New York Governor Kathy Hochul will veto the bill “for the sake of New York." The lawyer …

No-loss lottery decentralized finance (DeFi) platform PoolTogether has reached 100% of its legal defense funding goal via the sale of nonfungible tokens (NFTs). It has taken the project just ten days to reach its funding goal of 769 Ether (ETH) or $1.4 million, signaling strong support from the DeFi community, which is rallying against a lawsuit that some feel is an attack on the greater sector as a whole. the community has spoken @PoolyNFT https://t.co/pJSRUfjk3f — francom.eth (@francom619) June 5, 2022 PoolTogther is currently selling three tiers of NFTs as part of a funding campaign dubbed “PoolyNFT'' to fight a …