Cryptocurrency

Celsius recovery plan proposed amid community-led short-squeeze attempt

Published

1 week ago

June 20, 2022

Celsius recovery plan proposed amid community-led short-squeeze attempt

Investor proposed rescue plan for Celsius Network

Simon Dixon, co-founder of online investment platform BankToTheFuture, suggested a rescue plan for the Celsius Network lending service similar to the Bitfinex rehabilitation after the 2016 hack.

“Since 2011, I’ve seen Mt.Gox crash the market, then the ICO, and now the market is collapsing at the expense of leveraging. In each cycle, we’ve innovated with new technology. Celsius and CEO Alex Mashinsky have been sharing their journey weekly, building community. I hope he finds the right solution, as is always the case in our industry when financial innovation goes wrong,” Dixon wrote.

He recalled that BankToTheFuture’s plan to rebuild Bitfinex included issuing security tokens, debt financing and using equity. According to him, investors then got “a very high return for the high risk they took.”

Dixon did not disclose details of the offer to Celsius:

“I don’t have to disclose information before Alex and the Celsius board are ready. I have to offer a solution because we have the experience, licenses and technology to do it.”

In his opinion, traditional finance “will not have a timely solution for Celsius,” as seen with Mt.Gox exchange, whose depositor rehabilitation has been going on for 10 years. With Bitfinex, the plan worked in nine months; BankToTheFuture’s CEO stressed.

“Our industry gets stronger after every disaster. Now is a good time to offer bottom-up support, which we have always respected,” Dixon said.

He said the possible collapse of Celsius would not affect the financial health of BankToTheFuture, but would hurt the 1,039 investors who invested in the company through it.

What happened to Celsius (CEL)?

As a reminder, Georgetown University law professor Adam Levitin called Celsius’ bankruptcy almost inevitable.

According to media reports, the crypto landing platform’s leading investors have refused to provide it with additional funding.

Cryptocurrency

Ethereum liquidity provider XCarnival negotiates return of 50% stolen ETH

Published

50 mins ago

June 27, 2022

letizo News

Ethereum liquidity provider XCarnival negotiates return of 50% stolen ETH

XCarnival, a liquidity provider for the Ethereum ecosystem, recovered 1,467 Ether (ETH) just a day after suffering an exploit that drained 3,087 ETH, worth roughly $3.8 million, from the protocol.

Blockchain investigator Peckshield noticed the XCarnival hack as it came across a stream of transactions that eventually bled 3,087 ETH from the protocol. Explaining the nature of the exploit, Peckshield stated:

Flowchart showing the transfer of the stolen XCarnival funds. Source: Peckshield

ETH wallet balance of the XCarnival hacker. Source: etherscan.io

Continue Reading on Coin Telegraph

Cryptocurrency

Holonus to announce its listing on LBank

Published

51 mins ago

June 27, 2022

letizo News

Holonus to announce its listing on LBank

Holonus – Blockchain-based Best Ecosystem Platform for Next Generation

Humanity in the coming future will need the economic sphere on the Internet more than ever, like the water, air and food – the most necessary things to live on earth.

In the context of people’s economic activities changing dramatically, such as earning money by playing games and gaining approval, it is essential for a solid base system to be created for people to engage in economic activities in this economic sphere with peace of mind.

Holonus is blockchain-based best ecosystem platform for the next generation with a view to creating an economic zone based on the decentralized autonomous organisation (DAO).

In economic design on the Holonus platform, participants are rewarded when they provide value.

The concept of Decentralized Autonomous Organization is to make sure that all participants receive a fair reward for the value creation they have done. Holonus frees people from a hierarchical structure that is a real-world organizational structure and realizes a true DAO economic zone.

Holonus will list on LBank exchange

On June 27, the project Holonus is going to announce its listing on Lbank with the trading pair HLN/USDT. LBank Cryptocurrency Exchange – is the world’s leading crypto trading platform providing safe and professional services for global crypto users.

Announcement time : June 27th – 4pm UTC+8

Deposit time: June 29th – 4pm UTC+8

Trading start: June 30th – ６pm UTC+8

Withdrawal time: July 1st – 4pm UTC+8

Unique features: The basis for realization of Holonus economic zone

Dapps are linked to the Honolus blockchain and users can continuously create the wallet system.
Holonus Dapps builder allows all users to easily create blockchain applications with no code. It also enables them to build DApps such as original SNS and games dealing with Holon based on the Holonus blockchain and the wallet
Holonus ID allows users to send Holon and NFT in one transaction. Holonus DApps coin, a utility coin used in the Holonus DApps market, can also be sent at the same time.
Encryption, division, and decentralized systems provide high-quality functions and enhance better compliance and security beyond traditional databases.

What can we expect from the Holonus project in the upcoming time?

Airdrop to win HLN on Twitter (NYSE:TWTR): Holonus: https://twitter.com/holonusOfficial/status/1540671470900494336?s=20&t=3cRnE7B8ErULGkGWQibH2wLBank:https://twitter.com/LBank_Exchange/status/1540243364200808448?s=20&t=JbBLSNHlT7YE9NLttWaZFw
AMA on Holonus Official Telegram: June 28, 2022 – 4pm UTC+8https://twitter.com/holonusOfficial/status/1541020549811281920?s=20&t=3cRnE7B8ErULGkGWQibH2w
AMA in the official LBank Telegram group: June 30, 2022 – 4pm UTC+8https://twitter.com/LBank_Exchange/status/1541336840971640834?s=20&t=3cRnE7B8ErULGkGWQibH2w