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An independent examiner has revealed shocking details surrounding the inner workings of Celsius – a crypto lender that filed for bankruptcy in July 2022. The examiner claimed that Celsius did not operate by the business model that it presented to customers. He likened it to a Ponzi scheme, much like FTX – a company that happened to have used the same accounting software: QuickBooks.  The Truth About CEL Token Per a filing from examiner Shoba Pillay on Tuesday, Celsius had abandoned its commitment to transparency the moment its ICO for CEL token was completed in 2018. When the company only raised $32 million of its target $50 million from the sale, it declined to reveal its failure to the community. Furthermore, then-CEO Alex Mashinsky did not follow through on his promise to purchase any unclaimed tokens from the sale, amounting to 117 million CEL.  CEL’s value was also largely propped up by the firm. Its price increase throughout 2020 and 2021 was “significantly greater tha...

Source: Yanik Chauvin/Adobe Grayscale, the digital asset management firm that is part of Barry Silbert’s crypto conglomerate Digital Currency Group (DCG), is in hot water after being sued by industry rival Osprey Funds over how it promotes the Grayscale Bitcoin Trust (GBTC) fund. In the lawsuit, filed on January 30 with the Fairfield Judicial District Superior Court in Connecticut, Osprey accused Grayscale of engaging in “unfair and deceptive acts and unfair competition” with its GBTC fund. GBTC is an investment product individual investors can buy with their brokerage accounts. The product has served as a substitute for a spot bitcoin ETF in the US, where no such ETF has been approved yet by the Securities and Exchange Commission (SEC). Screenshot from lawsuit filed with the Fairfield Judicial District Superior Court. Source: civilinquiry.jud.ct.gov Grayscale has publicly said that it intends to convert GBTC to a bitcoin-backed exchange-traded fund...

Join Our Telegram channel to stay up to date on breaking news coverage Aptos price went ballistic on January 9 exploding as much as 442% from $3.7 to record new all-time highs (ATH) above $20 on January 30. However, the price has since turned down from that level after sellers regained control of the market on Tuesday. APT is among the top five crypto losers today with 9.93% losses in the last 24 hours, according to data from CoinMarketCap. The losses are led by BitDAO (BIT) which is down 16% on the day. Coming in second is the play-to-earn token (P2E) Axie Infinity (AXS) which has lost 11.23% of its value since yesterday. Gala (GALA) and Decentraland (MANA) come in third and fourth positions with 9.99% and 9.45% losses respectively.  Top Losers Source : CoinMarketCap Aptos Has Been Bullish Since The New Year APT’s New Year breakout has been remarkable, following a long period of consolidation when the buyers and the sellers fought for control. The New Year rally ...

North Korea's capital Pyongyang. Source: Adobe/Oleg Znamenskiy In the aftermath of last year’s attack against the cross-chain bridge provider Harmony, North Korean hackers, who are widely blamed for the incident, are believed to have just finished laundering some ETH 17,278, worth more than $27 million, according to industry observers.  Crypto hack investigator ZachXBT compiled data from a number of exchanges to come up with the figure, directing a shoutout "to the exchanges who responded quickly on a weekend so funds could be frozen". The researcher also linked to a report containing more than 350 associated crypto addresses. Later on Jan. 29, ZachXBT disclosed in a tweet that, to date, the researcher has "been able to map out 895 BTC in withdrawals to 14 addresses from the exchanges." Earlier this month, ZachXBT said that "North Korea’s Lazarus Group had a very busy weekend moving $63.5m (~41000 ETH) from the Harmony bridge hack throug...

Non-fungible token (NFT) assets have existed since at least 2014, but interest in them began to rise in January 2021, according to Google Trends data. Approximately one year later, the search term “NFT” reached its highest score on Google Trends. During that time the top five NFT collections, in terms of all-time sales volume, have collectively accrued $12.7 billion in sales volume. 5 Non-Fungible Token Projects Capture $12.7 Billion in Sales Two years ago, the search query “NFT” first appeared on Google Trends (GT), reaching a score of 1 out of 100 in the first month of 2021. Before that time, GT data shows little to no interest in NFTs, despite their existence since 2014. A year later, NFTs were quite popular and the search query reached a score of 100 as searches for the term skyrocketed. Another year later, interest in NFTs has decreased significantly, with the search query reaching a score of 11 out of 100 during the week of January 22-28, 2023. Google Tr...

It’s a hard year to trade, but there are measures you can take to increase the likelihood you’ll succeed if you want to trade Ether. Cryptocurrency is a notoriously volatile industry, regardless of what coin you’re trading . During periods of extreme volatility, it’s easy to become disheartened when trades don’t go your way. It’s also easy to become overconfident when you get lucky, falsely attributing it to your trading strategy — when, in reality, the price often rose or fell for reasons other than you assumed. Despite the uncertainty, there are sometimes still strategies you can use to trade certain tokens successfully. Ether (ETH) is arguably where you might be able to succeed this year. Here are three tips that might help. Understand what actually affects ETH price movements There are many ways to analyze the price of a given cryptocurrency, and different price valuations will be given depending on the model used and how much weight is given to a specific set of conditions. But ...