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Osmosis and UX Chain Announce Merger, Set to Jointly Launch Cosmos-based DeFi Hub
4.12.2023
Source: Pixabay Osmosis and UX Chain are preparing to merge in a move that seeks to create a comprehensive DeFi hub. Subject to approval, the merger would result in the fusion of lending protocol UX Chain’s lending logic and algorithms with Osmosis’ decentralized exchange, the largest DEX...
Crypto Loans Platform Nexo Integrates Koinly to Ease User Tax Obligations
1.12.2023
Source: iStock Images Nexo, a lending platform that provides instant crypto loans, has partnered with Koinly to simplify user’s tax reporting. Effective November 30, 2023, the collaboration enables Nexo users to easily generate tailored crypto tax reports. A company statement said that...
Bankrupt Crypto Lender Celsius Reopens Withdrawals for Certain Custody Clients
29.11.2023
The now-inoperative crypto lending firm Celsius has announced the opening of withdrawals for select “Eligible Custody Users,” as declared in a recent statement on Wednesday. These custody account holders now have the opportunity to withdraw approximately 72% of their cryptocurrency...
Apple Ends Partnership With Goldman Sachs as Tech Giant Expands into Lending
29.11.2023
Source: Adobe / twinsterphoto Apple has decided to terminate its credit-card partnership with Goldman Sachs as the tech giant pushes deeper into consumer lending. Apple recently submitted a proposal to Goldman Sachs, outlining its intention to exit the contract within the next 12 to 15 months...
Bankrupt Crypto Lending Firm Celsius Shifts Focus to Bitcoin Mining Amid SEC Feedback on Reorganization Plan
21.11.2023
Source: Adobe/Canva Crypto lender Celsius has amended its reorganization plan, opting for a singular focus on bitcoin mining instead of the initially proposed combination of mining and staking. In a court filing on Monday, Celsius signaled its departure from the earlier Plan that combined both...
Celsius entity to focus only on mining under proposed reorganization plan
21.11.2023
The lending firm has been in bankruptcy court since its Chapter 11 filing in 2022, while the SEC filed a lawsuit against both the firm and former CEO Alex Mashinsky in July
Celsius’ Path to Recovery Hindered by SEC Challenges: Report
20.11.2023
Source: Pixabay Bankrupt cryptocurrency lending company Celsius’ recovery plan has hit a road block with the US Securities and Exchange Commission. Coindesk reported on Monday that the SEC wants more information about the bankrupt crypto lender’s assets, citing a source familiar with the matter....
DeFi Market Concentration: Gauntlet Data Reveals Few Major Projects Dominate the Industry
16.11.2023
Image Soure: Adobe A limited number of participants are currently dominating decentralized finance (DeFi), the sector aiming to recreate financial markets without intermediaries. According to data gathered by Gauntlet, a crypto-risk modeling company, most categories within DeFi, such...
Celsius Moves $10 Million in Ethereum to Exchange Following Bankruptcy Plan Approval
15.11.2023
Celsius transfers millions in Ethereum to an exchange as part of a strategic shift post-bankruptcy. Image by Rafael Henrique, Adobe Stock Crypto lending company Celsius has transferred over $10 million worth of Ethereum to an exchange on Wednesday, just 6 days after a judge approved...
Australia Introduces Capital Gains Tax For Wrapped Tokens
14.11.2023
Source: Pixabay The Australian Taxation Office has issued an update on its capital gains tax for crypto products, stating that it also extends to wrapped tokens or token interaction with decentralized lending protocols. The previous edition of the capital gains tax stated that capital gains...
High Court Orders Liquidation of Hodlnaut Crypto Lending Platform – 17,000 Users Impacted
11.11.2023
Source: Hodlnaut The Singapore High Court has ordered cryptocurrency lending platform Hodlnaut to undergo liquidation, as stated in a court document dated November 10. The court has appointed Aaron Loh Cheng Lee and Ee Meng Yen Angela, both from corporate advisory firm EY, as the joint liquidators...
Hodlnaut heading for liquidation after failure of restructuring, sale efforts
10.11.2023
Recovery from the crypto winter is proceeding, but Hodlnaut won’t survive it. A sealed court order in Singapore appears to spell its doom
Court confirms Celsius bankruptcy exit plan, $2B in crypto to go to creditors
9.11.2023
The decision ends the complex case with a creditor-approved plan that will see their partial reimbursement and make them shareholders in a new company
Investment Advisor Two Prime Sees $2B in Demand for Bitcoin-Backed Loans
8.11.2023
"We have seen about $2 billion in demand for bitcoin-secured loans since we started offering them in September, " Two Prime's Alexander Blume said
Ex-Cantor execs launch crypto lending platform in expectation of Bitcoin ETFs
8.11.2023
The new platform Tokenet hopes to capitalize on institutional interest following the potential approval of a spot Bitcoin ETF
Luxor refutes claims its Bitcoin hashrate-backed product is BlockFi, Celsius 2.0
6.11.2023
“The return comes from hashrate, not from pixie dust, ponzi schemes, or rehypothecation,” a Luxor Technology executive stressed
Gemini, Genesis, DCG Face $1B Fraud Lawsuit by NY Attorney General; Gemini Says It’s the ‘Victim’ in Scandal
19.10.2023
New York Attorney General Letitia James filed a lawsuit against crypto companies Gemini Trust Company, Genesis Global Capital, and its parent company Digital Currency Group (DCG) for allegedly defrauding over 230,000 investors out of more than $1 billion. The lawsuit claims the companies lied about...
Hashing It Out: Diving into cross-chain DeFi lending
19.10.2023
MultiChainZ chief operating officer Aanchal Thakur believes that cross-chain lending platforms will open users up to more liquidity
Swiss Bank Offers Clients Crypto Lending Product
18.10.2023
Swiss online bank Dukascopy has introduced a new lending product that enables customers to borrow against their cryptocurrency. The solution allows users to receive 50% of the value of their digital assets in fiat currency while retaining their original crypto investments. Switzerland-Regulated...
Landmark Ruling: Chinese Court Rejects Crypto Lending Again
13.10.2023
Crypto lending activity still falls outside the purview of China’s legal system, ruled a Chinese court in the second ruling of the nation’s kind on Tuesday.
Per a press release from the Nanchang People’s Court, lending out virtual currency and requesting a return “is not within the scope of civil...