Crypto Retro

2022-12-29 20:00:11 ​​Celsius wants to extend the deadline for claims as lawyer fees mount.

Administrative expenses from the bankruptcy proceedings have already topped $53 million, and continued delays are chipping away at Celsius’ estate.

Bankrupt crypto lender Celsius Network is planning to file a motion that would extend the deadline for users to submit their claims by another month.

The crypto community has started to grow impatient, noting that Celsius’ lawyer fees have continued to stack up and are eating away at the lender's estate.

In a Dec. 29 tweet, Celsius announced that it would seek to extend the current deadline for claims from Jan. 3 to early February.

The bankruptcy court is set to hear the motion on Jan. 10, and according to Celsius, the Jan. 3 deadline will be extended until at least then.

The claims process allows creditors who believe they have a right to payment to file claims during bankruptcy proceedings. Celsius’ creditors had made over 17,200 claims as of Dec. 29.

However, Celsius’ creditors appear antsy as Celsius’ administrative fees have continued to rack up since it first filed for bankruptcy in July. A Dec. 27 Financial Times report noted that the fees charged by bankers, lawyers and other advisers in the bankruptcy case had already reached $53 million.

As an example, a Dec. 15 fee statement from one of the law firms representing Celsius, Kirkland & Ellis, requested a fee of over $9 million for work done during the months of September and October.

In comparison, only $44 million has so far been earmarked by Celsius to be returned to customers. This money belongs to users who only ever held funds within the Custody Program, and represents a minority of the $4.72 billion of user deposits held by Celsius.

Some in the crypto community have been unimpressed with the latest postponement in the proceedings, alleging that it’s yet another “delay tactic.” For example, one user noted “Stop wasting time stop extending, just go on with proceedings and give me my money back!!!!” while another simply said: “Stop wasting time and my money.”

Global investment platform BnkToTheFuture founder Simon Dixon, who has been an active voice in the Celsius bankruptcy proceedings, noted in a Dec. 23 tweet that by the time users are able to get their funds back from Celsius, they should only expect around to receive around hal what they put in. Open / Comment

2022-12-26 20:00:12 ​​Defrost v1 hacker reportedly returns funds as ‘exit scam’ allegations surface.

“Merry Christmas guys. We got a lump of coal from Santa Claus,” wrote one user in response to the allegations and the incident.

On Dec. 26, blockchain security firm CertiK issued a warning alleging that Defrost Finance, a decentralized leverage-trading platform on the Avalanche blockchain that recently suffered an exploit, is an “exit scam.” The move came just as Defrost announced that “the hacker involved in the V1 hack but not the v2 hack has returned the funds.” CertiK wrote:

“On 24 December we have seen an exitscam on DefrostFinance. We have attempted to contact multiple members of the team but have had no response. The team are not KYC’d but we are using all the information that we do have to assist with authorities.”

On Dec. 23, Defrost Finance suffered a flash loan attack that drained protocol users of $12 million in assets on its v1 and v2 protocols. Immediately after the exploit, blockchain analytics firm PeckShield also issued a warning, alleging the operation was a “rugpull”:

“We received community intel warning the rugpull of DefrostFinance. Our analysis shows a fake collateral token is added and a malicious price oracle is used to liquidate current users. The loss is estimated to be less then $12M.”

In a brief post-mortem analysis, project developers said that hackers also managed to steal the owner key for a much larger attack on its v1 protocol than the flash loan exploit. Defrost has offered to negotiate “sharing 20% (negotiable) of the funds in exchange for the bulk of assets and are calling on the hackers to contact us asap.”

After posting an Ethereum wallet address on its social page, close to $3 million worth of digital assets had been transferred there at the time of publication. In a Medium post published hours later, Defrost explained that the v1 hacker had returned the stolen funds to an address controlled by the project developers.

“We will soon start scanning the data on-chain to find out who owned what prior to the hack in order to return them to the rightful owners. As different users had variable proportions of assets and debt, this process might take a little. However, it will be concluded fairly swiftly.” Open / Comment

2022-12-26 14:00:18 Predict the BTC price and WIN $100 with P2PBET!

What is P2PBET?

P2PBET is a decentralized platform for betting based on the Binance Smart Chain. On the platform you can create bets on the price of crypto, stocks, bonds and other financial assets.

Try P2PBET Free Game daily raffle!

- Sign in on the website with your e-mail address
- You get 1000 Freebet after logging in
- Just Predict the BTC price
- The one who is closest to the BTC rate wins $100 daily
- You don't need to pay anything

Join P2PBET and stay tuned - https://t.me/P2PBET_Chat! Open / Comment

2022-12-23 20:00:14 ​​OpenSea blocks Cuban artists from the platform due to US sanctions.

OpenSea’s terms of service explicitly prohibit individuals and organizations from sanctioned regions from using its platform.

Nonfungible token (NFT) marketplace OpenSea has been banning artists and collectors from Cuba, citing United States sanctions as the key reason behind its action.

According to a report published by Artnet, 30 artists and collectors have been banned from the popular NFT marketplace until now. The most noted artist to face the axe includes well-known Havana-based artists Gabriel Guerra Bianchini and Fábrica de Arte Cubano.

OpenSea marketplace has mentioned in its terms of service that it explicitly prohibits sanctioned individuals and individuals in sanctioned jurisdictions. The NFT marketplace’s adhesion to United States sanctions was widely known and included countries such as Venezuela, Iran and Syria. However, the recent blocking of Cuban artists adds the country to that list as well.

"We continue to holistically evaluate what other measures need to be taken to serve our community and comply with applicable law," an OpenSea Spokesperson told Cointelegraph.

A Twitter profile called NFT Cuba Art revealed earlier in December that OpenSea had blocked them from viewing or listing their art while they still had access to their wallets. Erich García Cruz, the founder of Bit Remasa, responded that their NFT collections were banned too. Cryptocuban founder Gabriel Bianchini added that the future of Web3 doesn’t look decentralized.

Apart from OpenSea, several crypto platforms had to shut down their services for Russian customers in the wake of the new European Union sanctions issued after the war in Ukraine began earlier this year.

While the cryptocurrency ecosystem is built on the ethos of decentralization, the majority of the intermediaries and firms facilitating various services still very much work like most centralized Web2 companies.

The crypto community was not very pleased with the auctions of the NFT marketplace and called for an end to intermediaries. Another user said that there is a need for real decentralized platforms that don't care about nationalities. Open / Comment

2022-12-20 20:00:10 ​​Bitcoin miner Greenidge signs $74M debt restructuring agreement with NYDIG.

The deal, if executed, would essentially restructure the company into a hosting firm for Bitcoin mining rigs.

According to a new filing with the U.S. Securities and Exchange Commission on Dec. 20, Bitcoin (BTC) miner Greenidge stated that it reached an agreement with its creditor, fintech firm NYDIG, to restructure approximately $74 million worth of debt. The deal, in the form of a non-binding term sheet, would result in a major change to Greenidge's current business strategy. Essentially, it would transform Greenidge from self-mining to hosting for NYDIG's mining rigs.

Under the conditions, NYDIG would purchase miners with approximately 2.8 exahash per second (EH/s) of mining capacity to be hosted by Greenidge, which will facilitate NYDIG rights to a mining site within three months following the completion of debt restructuring and hosting agreements. In exchange for consideration amounting to the purchased miners and transfer of mining infrastructure and credits to NYDIG, the firm would agree to a $57 million to $68 million debt reduction for Greenidge.

Additionally, Greenidge will be collateralizing a sizable portion of its unencumbered assets to secure the remaining balance of the NYDIG loan. The firm would retain ownership of miners with a capacity of 1.2 EH/s. As of October 31, 2022, Greenidge had approximately 2.5 EH/s of mining capacity from approximately 24,500 miners in service.

However, the company also wrote that "there remains uncertainty regarding Greenidge's financial condition and substantial doubt about its ability to continue as a going concern." Last month, Greenidge used approximately $8 million of its cash during operations, of which $5.5 million went to principal and interest payments. As of November 30, 2022, the company's cash balance amounted to approximately $22.0 million. Greenidge also warned that "NYDIG and Greenidge will endeavor to enter into definitive documentation reflecting the terms described in this release, but there can be no assurances made that such terms will not change materially nor can there be any assurances made that the transactions discussed in this release will be consummated." Open / Comment

2022-12-18 15:00:07 Hi guys!
Let's remember a few basic elements of the rules:

The game has 10 levels that open gradually, according to the schedule. As you play, levels open from the lowest (cheapest) to the highest. Each level is a separate structure.
The two players behind you will pay you 74% each. For participation in the level, YOU WILL RECEIVE 148%
Payouts can be endless, but after each payout you need to activate the level again
By missing the time to buy a level you will lose the pace of the game
Your 100% deposit goes to higher players. 74% goes as main income to players above and 25% goes to their referrals.

For more information on the rules of the game, follow our web and learn in detail in full.

Web | Channel | Chat | Twitter Open / Comment

2022-12-17 21:00:03 $50 Risk-Free Bets for the World Cup 2022 Final With Duelbits

World Cup Final - the most awaited football event is coming to its end and Duelbits is giving you a chance to get a $50 Risk-Free Live bet when you place a $50 bet pre-match.

How to get the Risk-Free Bet
• Just place a bet between $5 and $50 on any Pre-Match market on the World Cup Final on Sunday 18th December.

• When the match starts, place a risk-free Live bet to the equivalent of your Pre-Match stake.

The first Pre-Match bet placed will be eligible, any other bets after this are not considered. It’s that easy!

It's Argentina vs France, who is going to get the trophy?

Bet Now To Win Open / Comment

2022-12-17 20:00:07 ​​Democrats to reportedly return over $1M of SBF's funding to FTX victims.

Three democratic committees, the DNC, the DSCC and the DCCC, pledged to return SBF’s political donations after the entrepreneur was charged with eight counts of financial crimes.

Following the arrest of former FTX CEO Sam Bankman-Fried (SBF), three prominent Democratic groups have reportedly decided to return over $1 million to investors that lost their funds due to misappropriation.

On Dec. 16, the Democratic National Committee (DNC), the Democratic Senatorial Campaign Committee (DSCC) and the Democratic Congressional Campaign Committee (DCCC) pledged to return SBF’s political donations after the entrepreneur was charged with eight counts of financial crimes.

A DNC spokesperson reportedly confirmed this decision when speaking to a media outlet, the Verge:

“Given the allegations around potential campaign finance violations by Bankman-Fried, we are setting aside funds in order to return the $815,000 in contributions since 2020. We will return as soon as we receive proper direction in the legal proceedings.”

The other two Committees, DSCC and DCCC, have also reportedly pledged to set aside $103,000 and $250,000, respectively, according to the Washington Post. SBF previously admitted to being a “significant donor” to both sides of the political spectrum.

Earlier this year, SBF had revealed in a podcast his plans to spend up to $1 billion to help influence the 2024 presidential election campaigns.

White House press secretary Karine Jean-Pierre refused to answer questions related to the return of SBF’s past donations to the party.

When asked, she responded by saying that “I’m covered here by the Hatch Act,” which prohibits civil service employees, especially from federal agencies, from engaging in some forms of political activity.

Bankman was the second-largest “CEO contributor” to Biden’s 2020 presidential campaign, with his $5.2 million in donations. Open / Comment

2022-12-16 22:00:04 The best and most experienced pumping team - Luxury Crypto

Great profits , Quality assurance , Constant online , Responsiveness

The main advantage of our team is responsiveness and complete training, even if you are not an expert in the field!

Want to learn more about pumps?
Subscribe to our Telegram channel, I wrote some posts for you.

Earnings are only up to you ! You only need your phone to make a profit! Work with us, not for us! You will succeed

Let's get out of the bear market already!

The channel will only be public for 72 hours , then it will become private , don't miss the opportunity to make money lying on your couch

CLICK HERE Open / Comment

2022-12-16 15:00:15 $50 Risk-Free Bets for the World Cup 2022 Final With Duelbits

World Cup Final - the most awaited football event is coming to its end and Duelbits is giving you a chance to get a $50 Risk-Free Live bet when you place a $50 bet pre-match.

How to get the Risk-Free Bet
• Just place a bet between $5 and $50 on any Pre-Match market on the World Cup Final on Sunday 18th December.

• When the match starts, place a risk-free Live bet to the equivalent of your Pre-Match stake.

The first Pre-Match bet placed will be eligible, any other bets after this are not considered. It’s that easy!

It's Argentina vs France, who is going to get the trophy?

Bet Now To Win Open / Comment