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Crypto News Today – Crypto Lender Platform Celsius Files Bankruptcy!

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.

» More Crypto News Today!

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→ 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.
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→ 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:

crypto news
  • (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% ↓

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