A federal judge overseeing crypto lender Celsius’ bankruptcy case has given the green light for the motion to appoint an independent examiner to investigate aspects of Celsius’ business. In an order dated Sept. 14 from the United States Bankruptcy Court of the Southern District of New York, the order notes that the examiner’s investigation will look into Celsius’ digital assets, tax payment procedures, the current status of its mining business, following calls for greater transparency. The examiner will also look into why there was a change in account offerings in April, resulting in some customers being moved from the Earn …
Celsius’ lead investor BnkToTheFuture has outlined three proposals to save Celsius from bankruptcy while finding a good outcome for shareholders and depositors with funds stuck on the platform. Shared on Twitter by BnkToTheFuture CEO Simon Dixon on Thursday, the three distinct proposals include either two options of restructuring and relaunching Celsius or potentially co-investing in the platform alongside wealthy Bitcoin (BTC) whales. “Proposal #1: A restructuring to relaunch Celsius and allow depositors to benefit from any recovery through financial engineering.” “Proposal #2: A pool of the most influential whales in Bitcoin to co-invest with the community.” “Proposal #3: An operational …
Celsius’ lead investor BnkToTheFuture and its co-founder Simon Dixon have offered to assist the network by deploying similar “financial innovation” used in 2016 to save cryptocurrency exchange Bitfinex from liquidation. Although the statement from Dixon on Saturday did not include specific details of the recovery plan offered to the Celsius’ board and CEO Alex Mashinsky, Dixon noted it would be similar to the one offered to Bitfinex after its hack in August 2016, which he claims was resolved within nine months: “I believe traditional finance will not have a timely solution for Celsius as we saw in the past with …
Software giant Microsoft and the recently released cryptocurrency EmerCoin have officially formed a partnership. This partnership will minimally span 2016 and will aim at further developing what Microsoft Azure is calling “Blockchain as a Service”. Together they will work on innovating the field and developing scalable products for their users. A notable effect is the price of EmerCoin, which doubled 1 day after the announcement of the partnership. What is EmerCoin? The partnership has had immediate positive effects for EmerCoin, particularly where its value is concerned. EmerCoin’s market cap is currently around 3 million US dollars, with EmerCoin trading for …
The exchange rates of Bitcoin vs. US. Dollar has been holding level between $440 - $460 a few days in a row. Positive macroeconomic indicators from the US and an increase in interest rates to 0.50% led to a strengthening of the Dollar. However, Bitcoin’s price was unharmed. Today, the release of another piece of important economic data is also expected. The Dollar relative to other currencies will be further strengthened, while Bitcoin should continue its sideways trend to about $440 - $470 and begin to grow to the levels of $480 and $490. We can see an increase in …
Delta Business Management can’t manage to attract Bitcoin investments to their recent parking project at Gatwick airport. Lee Welham, one of the founders of the company, told Cointelegraph that they have no clients who have purchased using Bitcoins. It seems like Bitcoiners haven’t completely got to understand the company’s idea. That’s why they are being cautious about it. Nevertheless, such projects can be very useful as they might help to fill the gap between Bitcoin sector and traditional finances. Delta Business Management is a young company passionate about new technologies and their potential for the future. That’s why they are …
BraveNewCoin (BNC), a cryptocurrencies technology analysis website, raised $400K in the first week on the BnkToTheFuture global online investment platform. The added capital will allow BNC to increase its services both to the website viewers and to subscribers. Brave New Coin, funded in January 2014 is a Data and Research company focused on the Blockchain and Digital Equities industry. By collecting, indexing and building reports on countless digital assets with their market and industry activities they help developers and investors make their choices when building infrastructures or support for digital currencies. The BNC data-engine “taps into every exchange on the …
Cointelegraph asks its readers: What do you think the Bitcoin price will be in 2016? It’s getting fun again…if you’re into Bitcoin and roller coasters that is. The price has awoken from its year long lull and is looking bullish as Wedbush Securities has just raised its 12-month projection for the price of bitcoin from its previous June estimate of US$400 to US$600 over the next year. Now many are wondering if we will see a repeat of the infamous price run of late 2013. “2013 was the year investors started to invest volume in bitcoin and was the highest …
Cointelegraph once again reached out to a handful of crypto entrepreneurs regarding their experiences of starting a business in the cryptocurrency industry. In a follow-up to our previous article on “5 Don’ts for Bitcoin Startups,” here are the next six caveats that will help startups get off the ground in this volatile landscape. 1. Don’t Ignore Demand The most fundamental thing to consider when starting a business is to know whether your product or service is actually needed or whether it will be in demand sometime in the near future. This includes analyzing the market, knowing your target audience, and …