Cryptocurrency
Celsius token news: Celsius caught wanting to trick customers with new token

Celsius network new coins? Bankrupt Celsius Network and a committee of creditors want to defraud customers with a new token issue. This was reported on Twitter by a user under the nickname @Crypto_Tolkien. They noted that Celsius rejected other companies’ buyout offers.
Celsius token news
Earlier, media revealed that BnkToTheFuture, Galaxy Digital, Binance and others were interested in the bankrupt’s assets, but Celsius declined to sell. Celsius representatives said during the hearing that all of the buyout offers “severely undervalued the illiquid assets” on the firm’s balance sheet. Financial details of the proposed deals were not disclosed.
As @Crypto_Tolkien noted, Celsius intends to oppose any reorganization plan that conflicts with their interests. The Head of Bnktothefuture , Simon Dixon, indirectly confirmed the user’s assumptions. He suggested that any attempt by Celsius to delineate client assets by their status should be blocked in court.
Celsius network, new coins — what is the news?
So, it seems, Dixon was referring to a recent court ruling that ordered the bankrupt firm to return all of the cryptocurrency held in its custody accounts to customers. Other customers were not affected by the ruling because users agreed to the terms of use when they signed up with Celsius. According to the terms and conditions, the company has the right to sell or lend client assets of non-depository accounts for investment purposes.
Earlier, it was revealed that Celsius is considering issuing a new token to pay off its debt to creditors as part of a proposal to reorganize and emerge from bankruptcy as a regulated cryptocurrency platform. Representatives of the cryptocurrency lender believe that transforming the project into a public company, compared with the initial plan, which includes an asset sale, would bring more money to creditors.
The bankruptcy of Celsius became known in July 2022. The company’s main problem was a liquidity crisis. In early January of 2023, the New York prosecutor’s office accused the head of Celsius of defrauding investors of billions of dollars.
Previously, we talked about whether to expect a move to $24,000 amid high bitcoin yields.
Cryptocurrency
Cryptotraders lost more than $250,000,000 in liquidations after Fed rate hike

Cryptotraders had a tough day: almost 68,000 positions were liquidated on exchanges in the last 24 hours, and the total volume of liquidations exceeded $257,000,000. All this happened against the news of the US Federal Reserve’s rate hike and another Securities and Exchange Commission regulatory action against cryptocurrencies.
Cryptotraders lost $132,000,000 in BTC
Bitcoin, Ethereum, and Ripple were the leaders in the number of forcibly closed positions. BTC liquidations totaled almost $132,000,000; Ethereum traders lost $51,000,000. XRP positions accounted for about $8,000,000 of liquidations. Bitmex exchange executed the largest order of $7.39,000,000.
Cryptocurrency market capitalization has declined 2% in the last 24 hours, but is still above the $1 trillion mark.
The weekly CoinShares report also recorded a massive outflow of funds for six consecutive weeks. During that period, nearly $500,000,000 was withdrawn from cryptocurrency platforms, with $113,000,000 coming from bitcoin. Analysts at the company believe the outflow is due to liquidity needs during the banking crisis rather than a negative outlook. The company mentions that a similar scenario was seen in March 2020 amid a COVID-19-induced panic.
Regulators continue to hunt the cryptobusiness
Another reason for the increased volatility in the market has been harsh action from U.S. regulators. Last night it became known that the U.S. Securities and Exchange Commission sued cryptomagnate Justin Sun, accusing him of fraud and market manipulation.
The SEC also issued a notice of wrongdoing against Coinbase, the largest U.S. cryptocurrency exchange. The securities regulator sued Coinbase Global Inc, for some of the products it offers.
We previously reported that Bitcoin (BTC) tests $28,000, but onchain metrics urge caution.
Cryptocurrency
Binance was caught circumventing KYC to register Chinese clients

Employees of the cryptocurrency exchange Binance help clients from China to bypass compliance and verification. CNBC writes about it, citing hundreds of corporate emails from exchange employees on Discord and Telegram. It is reported that Binance has helped over 200,000 users register, bypassing its own security system. One case describes correspondence between a user from China and a Binance employee.
The employee under the pseudonym yaya.z suggested the user from China turn on a VPN, register as a Taiwanese resident and then return the location to China. Binance employees also advise customers not to use VPN services from the U.S., Hong Kong and Singapore, because the exchange does not provide services in those regions, writes CNBC. At the same time, Binance freely processes applications from U.S. email providers like Gmail or Outlook for registration.
The exchange even offers specialized mobile applications for customers from China. A CNBC reporter could download a special mobile application from Binance via email. At the same time, no VPN was needed to download the app, as the download was conducted through the domain of binance[.]com. It is also alleged that the exchange still verifies users with Chinese phone numbers.
An exchange spokesperson denied the existence of a special Chinese version of the mobile application. The exchange also added that it has improved the system to identify users from banned regions. CNBC notes that after providing evidence, Binance removed employee messages from corporate chats to circumvent KYC.
We previously reported that the Ethereum (ETH) price crossed the $1,800 mark, opening the way to $2,000.
Cryptocurrency
Why cryptoanalysts expect bitcoin to fall

The market remains in a bearish trend and bitcoin (BTC) will resume its fall and test $16,000. There are two reasons:
The first statement can be confirmed or disproved by a technical analysis of the cryptocurrency market, but there is not enough additional information for the second.
The market capitalization of altcoins (ALTCAP) does hold nearly $605 billion of resistance. Although ALTCAP has risen above it several times, it didn’t develop above this area.
However, the daily RSI has broken through the bearish divergence trendline (green line). Such a breakout often precedes significant reversals into a bullish trendline. As a result, ALTCAP will move higher towards the $680B resistance area. If not, ALTCAP could fall back to the $518B support area.
There are also those who argue that bitcoin will test the $10000-$11000 area because there is a CME price gap that needs to be filled. The gap refers to the difference between the closing price of bitcoin futures on the Chicago Mercantile Exchange (CME) on Friday and the opening price on the following Monday.
We previously reported that Hong Kong has allocated another $50,000,000 to the crypto industry.
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