Altcoin News

FTX’s-Sam-Bankman-Fried-Linked-to-Celsius-Bankruptcy-Filing
FTX’s Sam Bankman-Fried Linked to Celsius Bankruptcy Filing

Pharos USD Fund SP is the largest creditor of Celsius Network. An SEC filing shows that Pharos is an affiliate of Lantern Ventures. Tara Mac Aulay, CEO of Lantern, said she co-founded Alameda Research. Crypto lending company Celsius Network, who filed for Chapter 11 bankruptcy on Wednesday, has more than 100,000 creditors. Among these creditors, one named ‘Pharos USD Fund SP’ has been the highlight. According to Celsius’ Chapter 11 filing, the crypto lending firm owes $81 million to Pharos. Doubles the amount of claim the firm’s second-biggest creditor has. An SEC filing from April shows that Pharos is an

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Polygon,-Solana,-and-Cosmos-Race-To-Be-the-Best-Crypto-Chains
Polygon, Solana, and Cosmos Race To Be the Best Crypto Chains

Polygon, Solana, and Cosmos competes to provide the best decentralized services Solana utililizes Proof of History Cosmos offers flexible platform for developers In the world of cryptocurrency, there are many different projects vying for attention. Some want to be the next big thing in payments, others are focused on becoming the go-to platform for decentralized applications. But what about those who want to be the best at something more specific? For example, there are several chains that are showing early signs of becoming the best at providing decentralized services like Polygon, Solana, and Cosmos. All of these projects have their

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Celsius-Network-Files-Chapter-11-Bankruptcy-Amid-Market-Fall
Celsius Network Files Chapter 11 Bankruptcy Amid Market Fall

Celsius Network filed voluntary petitions for Chapter 11 protection. The decision was followed by the company’s decision last month to halt withdrawals, swaps, and transfers on its platform. The lending firm plans to provide a plan to restore activities via its platform, while restructuring its obligations. Celsius Network, a Cryptocurrency lending company, confirmed that they’ve filed voluntary petitions for Chapter 11 bankruptcy in the US Bankruptcy Court of Southern District of New York amid Multistate investigations and legal charges. The US bankruptcy code 11 or Chapter 11 is a bankruptcy filed by corporations that allows companies to operate while restructuring

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Axie-Infinity-Conducts-Lunacian-Summer-Breeding-Event
Axie Infinity Conducts Lunacian Summer Breeding Event

Axie Infinity announced a new summer breeding event. Users can breed limited-edition summer skins and newly introduced ‘Shiny skins’. Lunacian Summer is in progress, breeding automation will be banned for the duration of the event. Axie Infinity announced a new breeding event called Lunacian Summer, where users are able to breed limited edition ‘summer skins’ for the next 50 days via sweaty Axie breeding. According to the announcement post, there will be two new features that the Axie Infinity team has added in this breeding event: Breeding formulas would require mixing of two genes, and adding of shiny parts that

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LUNA and UST Drama: Is Now the Right Time To Buy or Not?
Will $LUNC Hit $1 Soon? Some Are Convinced and Here’s Why

A crypto promoter tweets about the inevitable rise of $LUNC. The promoter says Terra Luna Classic (LUNC) will write history.  The Terra Luna community adds to the conversation with varied responses. A crypto and NFT promoter took to Twitter to announce the inevitable rise of $LUNC. That is, Terra Classic Luna (LUNC). It seems many loyal Terra Luna believers and holders are still expecting $LUNC to recover soon.  For the tweet above, we can see that the crypto and NFT promoter — Hailey, claims that $LUNC will go back up to $1. In fact, she says it is inevitable and

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Shiba-Inu-Welcomes-David-Kern-to-the-SHIB-Metaverse-Team
Shiba Inu Welcomes David Kern to the SHIB Metaverse Team

David Kern is a former Principle Technical Artist for Sony at Zipper Interactive. The Shiba Inu project has announced that David Kern has joined their Metaverse team. He will be working on the Shiba Inu Metaverse’s Team as an advisor. According to a blog post and a major announcement by the Shiba Inu team, David Kern has joined the project as an advisor. David is a former Principle Technical Artist for Sony and has worked on many big-budget titles. The article says Kern will be helping out with the development of the SHIB Metaverse. The Shiba Inu team mentions that

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US-Senate-Elects-Ex-Ripple-Advisor-as-Fed-Vice-Chair-for-Supervision
US Senate Elects Ex-Ripple Advisor as Fed Vice Chair for Supervision

Michael Barr was confirmed by the US Senate as vice chairman for supervision at the Fed. Barr, who was President Biden’s pick for the position, was also an ex-Ripple advisor. Twitter users speculated Ripple’s XRP will moon after the announcement. Michael Barr, a law professor and former Ripple advisor, was appointed as vice chairman for supervision at the Federal Reserve by the US Senate on Wednesday. Barr, who was US President Joe Biden’s pick for the vice chair for supervision of the Federal Reserve System, was confirmed to sit in the position for four years. The US lawmakers voted 66-28

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Cardano-CEO-Highlights-the-Need-for-Crypto-Communities-Over-Leaders
Cardano CEO Highlights the Need for Crypto Communities Over Leaders

Charles Hoskinson, the Co-Founder of Cardano, addresses the ADA community. He does so at Consensus 2022 and thanks the ADA army for building with him. Above all, he is excited to have the ADA community meet Consensus. The Co-Founder of Cardano — Charles Hoskinson, addresses the Cardano (ADA) community at Consensus 2022. His main take on the talk was to remind the Cardano community about the philosophy of Cardano.  He begins his speech by thanking the 1,800 visitors who registered for the event. He looks back at how far Cardano has come. To begin, he reminisces about how Cardano began

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Basketball Legend Michael Jordan Taps Solana for NFT
Solana Set to Conquer the Smartphone Industry with Web3 Mobile

Solana is launching Solana Mobile to meet Web3 requirements. The smartphone will come with its own Solana Mobile Stack (SMS).  The stack will come with four core components. Solana is launching its Web3 mobile known simply as Solana Mobile. This smartphone will be catered to meet web3 requirements for crypto and blockchain users. It also aims to make a mark in the smartphone industry.  In detail, the Solana mobile will introduce a Solana Mobile Stack (SMS). From the tweet above, the thread goes on to explain what the Solana Mobile will offer its users. More specifically, what impact will it

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-Crypto-Buyers-Flock-to-SHIB,-92%-of-Coinbase-Users-Buy-Shiba-Inu
Shiba Inu (SHIB) Is No Longer Classified as a Memecoin

Bitcoinlfg no longer classifies Shiba Inu (SHIB) as a memecoin.  It will remove the crypto from its memecoin list. SHIB is offering many exciting new services and platforms to the community. The popular crypto tracking platform — Bitcoinlfg, declares Shiba Inu (SHIB) to no longer be a memecoin. That’s right, the popular crypto that rose to fame as a rival memecoin will no longer be classified as such.  In fact, BITCOINLFG says it will remove Shiba Inu (SHIB) from its memecoin list. Certainly, it seems that Shiba Inu’s journey as a rival memecoin to the original memecoin Dogecoin (DOGE) has

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What-happened-With-Celsius,-and-How-its-Crypto-Lending-Burned-Out
Regulators Conduct a Multistate Investigation on Celsius

Celsius offered customers high-interest rates that were unregistered security and operated largely outside the law. Celsius customers did not receive critical disclosures about its financial condition. It is still unclear what will happen to the accounts that have been frozen. The Vermont Department of Financial Regulation has joined a multistate inquiry into Celsius. It says that Celsius offered customers high-interest rates (up to 17%) which are unregistered security and operated primarily outside the law. Celsius Network is a cryptocurrency firm that provides interest-bearing cryptocurrency accounts to its clients. In the agreement, Customers were promised high-interest rates by Celsius.  On June

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Swiss-Post-Office-Will-Offer-Crypto-Custody-and-Trading-Services
Polkadot and Revolut Will Reward DOT via Learn and Earn Program

Polkadot and Revolut have launched a learn to earn initiative.  Crypto Learn is out on the Polkadot network and will educate the public on all things crypto. Learners will be able to earn DOT in return for successfully passing their lessons. Revolul and Polkadot came together to launch Crypto Learn on the Polkadot network. This initiative aims to educate the general public on all things blockchain and especially cryptocurrency.  In detail, Crypto Learn will have basic crypto lessons on the Polkadot network. These short lessons will make it easy for anyone and everyone to understand crypto and blockchain technology.  Those

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