Crypto Adventure

Alex Mashinsky – founder of Celsius Network – reportedly withdrew $10 million from the struggling lending platform weeks before its bankruptcy.  Under U.S law, he may be forced to return those funds for the benefit of his company’s creditors.  Mashinsky’s Last Minute Withdrawal Mashinsky's hefty withdrawal came in late May – at a time when Celsius users were already withdrawing their assets in droves. Fear overtook customers as crypto markets slid in Q2, and worries over Celsius’ financial health grew…

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $925 billion. Bitcoin has increased by nearly 1% this week. Ethereum lost almost 2% over the past seven days. XRP is down by nearly 8% this past week. Almost all altcoins are trading in the red, with few exceptions. The DeFi sector maintained the total value protocols (TVL) at around $27 billion. Crypto Trends…

On Friday and in the early hours of Saturday, the Solana network experienced yet another outage, frustrating thousands of Solana users. The recent event is the second major downtime the network has suffered since January this year when it experienced a slew of partial outages. It took some hours for the network devs to resolve the issue which notably caused the network’s native token to slip 6%.  Solana Validators Restart the Network Mainnet Solana first called attention to the outage…

David Rubenstein – co-founder of the asset management firm Carlyle – recently told Bloomberg about how his view on crypto has changed over time.  The billionaire now believes that digital assets are “not going away,” and said he has personally invested in some crypto industry businesses.  Why Would Someone Want Crypto? During the interview, Rubenstein began by equating cryptocurrency investing to gambling. “If it gives you pleasure to do the gambling, allocate enough money that you can afford to lose,”…

The Commodities Futures Trading Commission has filed a suit against Adam Todd, the founder of crypto futures exchange Digitex. According to court documents, the commission alleges that Digitex has been operating as an illegal trading platform.  Digitex in Violation of Commodity Exchange Act The CFTC filed its complaint on Friday, September 30 in the Southern District of Florida. In their complaint, the agency noted that Todd and Digitex by extension are in violation of the Commodity Exchange Act (CEA). This…

In an update earlier today, global tech conglomerate Meta shared news of its latest moves surrounding digital collectibles. From September 29th, subsidiaries Facebook and Instagram will now allow users to link their virtual wallets with their accounts and also share non-fungible tokens. Users Across 100 Countries Can Access New Meta Feature Everyone on @instagram and @facebook can now share their digital collectibles in the US, and on Instagram in the previously announced 100+ countries,” Meta announced in a tweet .…

The crypto lending and custody platform Genesis waved another executive goodbye on Wednesday as co-Head of Sales Matt Ballensweig stepped down.  That’s the second executive departure from Genesis after its CEO, and the next in a long list of crypto industry higher-ups this quarter.  Yet Another Departure in Crypto In a Twitter thread on Wednesday, Ballenswelg explained that he was formally leaving his post after over 5 years, and will be transitioning his responsibilities to select colleagues. In the short…

El Salvador President Nayib Bukele took a victory lap on Monday after the Bank of England’s British pound rapidly depreciated against the dollar.  The institution has since resumed quantitative easing. Its action marks a clear pivot that many in the Bitcoin community predicted central banks would be forced into months in advance. Bukele’s Callout Bukele tagged the Bank of England with a triumphant “Told you,” over Twitter, scoring over 14,000 like and 2000 retweets from his followers.  His brief comment…

Per a report from the Cambridge Center for Alternative Finance (CCAF), fossil fuels have been the primary energy source for BTC mining since the start of the year. The CCAF recently updated its Cambridge Bitcoin Electricity Consumption Index (CBECI).  Its study claims that 62% of all the energy the leading token has consumed so far consists of coal-based energy. BTC’s Energy-Intensive Mining Bitcoin employs the proof-of-work consensus mechanism to create new tokens and validate transactions on the blockchain. The PoW…

Strike – a Bitcoin payments company and digital wallet provider – has closed an $80 million funding round led by Ten31.  The funds will bolster the company’s efforts to “revolutionize payments” for the payment industry’s biggest players.  According to a press release, both Washington University in St. Louis and the University of Wyoming also partook in the raise.  The funding leader, Ten31, is a Bitcoin and lightning infrastructure provider that’s invested in numerous other Bitcoin native companies like Blockware, Swan,…