Crypto News Daily: The New-Jersey-based Crypto Platform Celsius voluntarily initiates the voluntary Chapter 11 bankruptcy for stakeholders’ interests & consummate restructuring transactions.
- Estimated Assets and Liabilities of the platform are consolidated between $1B to $10B valuations.
» The Celsius Crypto Firm Files Bankruptcy after 150 Employees lay-off!
Celsius approaches the U.S. Bankruptcy Court for Southern District of New York to commence the Chapter 11 bankruptcy proceedings. Celsius considers its steps for a comprehensive restructuring transaction while all crypto withdrawal transactions are still suspended.
- Celsius still has limited cash of over $167M, facilitated to complete the restructuring operations.
- The final valuation of the Celsius platform was $3.25 billion before filing for bankruptcy.
→ Russian Bank deems Stablecoins Unsuitable for Settlements!
Earlier today, the Central Bank of Russia announced that Stablecoin crypto tokens are not fit for payments against goods & transactions. The Central Authority responded to a top finance ministry official who proposed his department could govern Russian Stablecoins.
- In contrast, The Russian Ministry of Finance regards crypto as prospective, including Ivan Chebeskov, Head of the Financial Policy Department.
- Voronkov Ventures founder Andrey Voronkov during the ‘The Impact of Web3…’ summit in Moscow, spoke of creating Russian ruble-pegged stablecoins.
- Bank of Russia is developing its digital nation fiat currency under the governance of First Deputy Governor Olga Skorobogatova.
→ Indian ED Identifies Leading Crypto Exchanges Skirting KYC & AML!
The ongoing investigation led by the Indian Enforcement Directorate on the top crypto exchange platform discovers KYC & AML rules breaches. Without releasing the names, a report states that these Crypto exchanges have been facilitating transactions from other countries.
- The name of global VC firms such as Tiger Global and Sequoia has come up in not filing their investments under the RBI FC-GPR.
- RBI demands that the Foreign Currency-Gross Provisional Return (FC-GPR) reports declare the eligible instruments against any FDI inflow.
- ED found multiple widely adopted Crypto exchanges using the wallet infra-structure of foreign crypto exchanges unregistered in India. [Engaging in third-party crypto conversion]
- Additionally, the crypto exchanges in the nation are also investigated by the IT Department and GST Commissionerate besides ED.
→ StarkWare Web3 Solutions Company Announces StarkNet Token!
StarkWare provides Ethereum layer 2 scalability solutions, and it has officially announced the release of StarkNet Token. Taking a step towards Decentralization, StarkNet further aims to build an ecosystem- StarkNet Foundation.
- The 10 billion StarkNet tokens will go live in September 2022. The Foundation will receive its 50.1% tokens.
- Other entities receiving the StarkNet tokens are investors, employees, community developers, contributors, end users, and consultants.
Crypto Sale Today – July 14th, 2022
On the global crypto market, the top cryptocurrencies prices or crypto today reflect the following figures:
- (BTC) Bitcoin
- Average Price: $19,966.22
- 24h: – 0.74% ↓
- (ETH) Ethereum
- Average Price: $1,096.96
- 24h: – 0.81% ↓
- (BNB) Binance Coin
- Average Price: $230.21
- 24h: – 0.25% ↓
- (XRP) Ripple
- Average Price: $0.3205
- 24h: – 0.48% ↓
- (ADA) Cardano
- Average Price: $0.4248
- 24h: – 0.47% ↓
- (SOL) Solana
- Average Price: $34.29
- 24h: – 0.51% ↓