Category Archive : Crypto

Crypto boom and bust

The Safest Cryptocurrency to Invest in – The Crypto Boom & Bust
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Crypto boom and bust

What is the Safest Crypto to Buy and Invest in Your Hard Earned Money?

If you were following the crypto industry news for the last year, or have invested in crypto during the bull run, you probably asked this question more than once in the last couple of months. Well, let me tell you that you are not alone. Thousands of people all around the world are speculating what crypto is safest to buy and what crypto has the highest potential, but also what is the safest place to buy and store the crypto.

I guess the only person who hasn’t been affected by this year’s crypto bear market are those who either weren’t exposed to any so they didn’t buy, or those who got into crypto now or way before and didn’t sell. But if you bought any cryptocurrency except Bitcoin in the last 1 and half years you are most likely questioning the true nature and reality of this fairly new industry. And it’s ok, again, you are not alone.

The ugly reality is that whether you bought any crypto or not, you lost your money, or the value of the money. Because if you just hold the cash under your pillow or in a bank, you have lost the purchasing power by the rapid pace during the 2020 and 2021 pandemic, and continue losing until now as we speak. The hyperinflation created by printing trillions of euros and dollars, or any other FIAT currency creeping on everyone at the hyper-speed. The sad thing is that not many people realize that until it’s too late and they have lost everything.

It’s critical to educate yourself on the topic of finance, especially the unconventional education, the true reality of the finance and monetary policy, and how totally corrupt the financial system is. They won’t teach this in schools because they don’t want you to know so you inevitably lose everything you have, own nothing and be happy.

Sounds familiar? Ok, now lets talk about crypto a slightly bit more positive news and facts.

Cryptocurrencies and bitcoin

Our Only Hope in the World of Finance and Ownership

The latest crypto boom and bust of 2021 taught us that not all cryptos are created equally and not all coins are good investment, especially when we are talking about investing long-term. In fact, actually the vast majority of crypto coins do not fall into that category except one, or maybe a handful few, and there are many good reasons for that.

This year, we learned the painful and expensive lesson with downfall of many crypto companies that ignored the risk of over exposure and became insolvent losing their and customers funds due to bad leadership and risk management, growing fast and falling even faster. Yes, we talk about TerraLabs, Celsius Network, Voyager, and the most painful and recent downfall of the second biggest crypto exchange FTX, just to name a few major companies. This crypto sh*t storm has affected the entire crypto industry and will take some time to recover.

So, what is the safest crypto to buy?

To no surprise it’s the first and the biggest one of all, BITCOIN!

Difference between Bitcoin and other Cryptocurrencies

 

 

The Big Difference Between Bitcoin and Other Cryptocurrencies

There are many technicalities that distinguish Bitcoin from other cryptos, but the biggest and most important difference is that Bitcoin is the only coin categorized as commodity, and for a simple reason.

There is no Issuer, CEO, or ICO funding, therefore there is nobody who controls that. It has the limited fixed supply that cannot be changed or adjusted, and it’s based on the proof of work (PoW) consensus algorithm that has built in the bitcoin halving that happens every 4 years which makes it also scarce.

These are just a few major reasons why Bitcoin is the No. 1 and only digital asset given to people to achieve true financial freedom long term.

If you would like to learn more on this topic I highly recommend to read books such as Bitcoin Standard: The Decentralized Alternative to Central Banking, Bank to the Future: How to Protect Your Future Before Governments Go Bust by Simon Dixon (check out his YouTube channel with hundreds of videos on Bitcoin and crypto topic), and also listen to interviews with Michael Saylor who explains the best what does Bitcoin mean for humanity and how it’s different from other crypto assets that cannot be the same.

Learn why the Bitcoin is the humanity’s only Hope for true financial freedom, conservation of energy, and fair financial system.

Bitcoin is Hope Michael Saylor

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Celsius and Simon Dixon BnkToTheFuture review

Bnk to the Future and Salt Lending to Help Celsius Network Customers
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Simon Dixon BnkToTheFuture.com

Simon DixonWhen it comes to crypto investing, BnkToTheFuture is one of the older companies in the field. Founded by Simon Dixon, the man who wrote the first Bitcoin book called Bank to the Future: Protect Your Future Before Governments Go Bust, and presented at the first conference, the company is trying to make investing easier for the everyday person. They have had a lot of trouble following regulations, but they are making a lot of progress. However, there are still some critics who don’t trust them. If you’re considering joining this company, you should keep in mind that it will probably take a while to comply with regulatory requirements.

 

 

BnkToTheFuture

BnkToTheFuture company

Celsius Network Trial News – November 2022 Update

Celsius Network is, or should I rather says was a company that claims to mine bitcoins and other crypto currency. It has a massive debt, with over $4.7 billion owed to its customers. It has about $167 million in cash on hand, which it says will provide it with ample liquidity for its restructuring. However, as of July 14, the company has only $4.3 billion in assets and $5.5 billion in liabilities.

The company admitted that it did not earn enough revenue to cover payouts to investors, but they inflated the price of the CEL coin. This behavior suggests a high degree of financial mismanagement. Furthermore, the company’s yield to existing investors may have been paid using the assets of new investors. As a result, Celsius Network is now in the process of bankruptcy.

If instructed, Pillay would investigate the Celsius Ponzi scheme, but she would only look at facts that would inform the inquiry and not reach any legal conclusions. This is the second time that Celsius has been accused of being a Ponzi scheme. In July, the CEO of KeyFi, Jason Stone, sued Celsius on charges of manipulating the crypto markets. In addition to these lawsuits, state regulators in Vermont have sought broader powers to investigate the company’s bankruptcy.

This investigation was prompted by numerous complaints from consumers of the Celsius Network. The company also received an investigation by 40 state securities regulators for alleged securities fraud and mismanagement. Despite this, the company has been able to retain the support of the creditors’ committee appointed in its bankruptcy case. The creditors’ committee is already investigating many aspects of the DOJ’s initial request.

Celsius and Simon Dixon BnkToTheFuture review

 

Recent court documents from Celsius Network have been made public. They reveal the names and financial dealings of thousands of users. They also reveal wallet IDs and crypto transactions data. However, the information is still inconclusive. Therefore, users are encouraged to reconsider the firm’s privacy policies. The Celsius Network bankruptcy trial news is not encouraging and should be scrutinized closely.

The company’s bankruptcy case is a difficult one for both sides. As a result, a court-appointed examiner will be appointed to determine the company’s financial stability. If the company has not submitted a Chapter 11 reorganization plan, it will be forced to file for bankruptcy. It must also answer a number of legal questions regarding the company’s ownership of crypto and the crypto-currency that is being sold.

The trial highlights the problems that Celsius Network faces in the cryptocurrency world. While it was once a titan of the crypto lending industry, it is now facing bankruptcy and allegations that it is running a Ponzi scheme using the money of its customers to pay off early depositors. This has led to the lawsuit by a former Celsius Network investment manager and many, many, many more.

 

Salt Lending Company

SALT Lending Platform review

 

SALT Lending is an online crypto lending platform that provides small businesses and individuals with personal loans. The company was launched in 2016 and is operated by Salt Blockchain Inc., a for profit entity, Salt Lending LLC. This service is unique because it offers loans without credit checks or collateral. This means that people with bad credit can take advantage of competitive rates. Holders of SALT coin also enjoy forgiving interest rates and fees, as well as flexible credit and LTV ratios. SALT also offers a stabilization feature that protects borrowers from market dips too.

SALT lending company uses decentralized blockchain and smart contracts to enforce the lending and borrowing processes. The company is licensed in nine countries and most states. However, it is not licensed in Europe yet, although it does plan to expand into other countries. The service offers a maximum loan amount of $50,000 with repayment options between three to twelve months. With SALT, you will be able to monitor your loan and deposit transactions using a mobile app. You can even opt for push notifications to stay updated on the status of your loan.

The fees for SALT loans depend on the type of loan, amount, and location of the borrower. You can check these fees using the handy calculator on the website. SALT will be transparent about the fees, and will let you know how much collateral you need. The service will allow you to borrow up to $50,000 if you meet all its requirements.

Salt crypto lending platform

 

SALT is a good option for those who want to access a small business loan with low interest rates. The company allows small businesses to apply for loans from $5,000 to $25 million and offers three to twelve monthly payment windows. In addition, SALT provides comprehensive insurance coverage and multi-signature security for user funds. Users can also use different cryptocurrencies as collateral.

SALT has been growing steadily since its launch in December 2017. In the first few months after the company announced its lending platform, its price rose to $17. Users can trade SALT with other users on its website or on exchanges. The native token of SALT is also available to trade. If you have any unused SALT tokens, you can sell them on exchanges.

In addition to its user-friendly website, SALT has a dedicated loan manager who provides support through live chat, email, and phone. The company also offers an extensive FAQ section. Customers can also use a mobile application for tracking loan status, depositing and withdrawing money, and receiving notifications. And SALT also offers an insurance plan that covers their clients against theft and fraud.

Opening an account on SALT is very easy. The process is similar to most other cryptocurrency services: a valid email address, a password, and an invite code.

 

Get started with SALT

Salt token

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Celsius network chapter 11 bankruptcy update october

Celsius Chapter 11 Bankruptcy Community Update & Simon Dixon’s Fix Plan
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This is a quick update about the status of the chapter 11 bankruptcy filled by Celsius Network earlier this year in June 2022, and also the plan proposed by the Bitcoin veteran investor Simon Dixon that could possibly fix this mess caused by Celsius CEO Alex Mashinsky and other Celsius executives deceiving public about what Celsius company actually is and what happens with coins and tokens deposited in the app.

In the meantime, Simon Dixon is fighting along with the community of depositors, borrowers, and lenders. With that being said, if you are one of the depositors and want the best case scenario for everyone who is a victim to come forth please join Simon Dixon and others on YouTube and Twitter where Simon discusses and forms the best future plan with others.

Simon Dixon YouTubehttps://www.youtube.com/c/SimonDixonBF

Simon Dixon Twitterhttps://twitter.com/SimonDixonTwitt

 

Celsius Bankruptcy Official Court Hearing October 2022

Celsius network chapter 11 bankruptcy update october

In a recent filing, Celsius Bankruptcy claimed that its customers had “loaned” money to the company, not “deposited” it. This means that customers who had borrowed money from Celsius must be listed as creditors in the bankruptcy case. This is a critical point because Celsius has been using the word “deposit” in its marketing campaigns. Simon Dixon, however, disagreed with this characterization. In the filing, Celsius listed over a hundred thousand creditors with Simon Dixon being the 21st largest depositors of crypto in the app.

Celsius’s bankruptcy filing also includes extensive information on its executives. The documents show that its ex-CEO, Alex Mashinsky, cashed out $10 million of crypto-assets before the filing began. In addition to this, the bankruptcy documents reveal that Mashinsky quit the company in September. While this news may be good news for the company’s creditors, it will not ease their pain. This is why the US trustee of the case, William Harrington, objected to Celsius’ redaction motion, saying that the bankruptcy case requires disclosure of all relevant information.

Celsius filed for Chapter 11 bankruptcy protection 89 days after introducing the custodial wallet. This means that any funds that were transferred 90 days before the filing date might be subject to clawback under U.S. law. Although there was no ruling on this issue at this hearing, the various parties were able to provide their feedback during the three-hour hearing. However, it remains unclear whether Celsius will be able to get its money back. If the court grants Celsius’s motion to withdraw the funds, the assets will be returned to the custodial account holders.

After the company filed for bankruptcy, a creditors committee called UCC was formed. The group is made up of people who lost money through Celsius, including those who made deposits in the company. The committee aims to help these creditors recover their crypto assets. As of now, the company has more than a hundred thousand creditors, including customers and lending counterparties. FTX’s CEO Sam Bankman-Fried has joined the group as a creditor. Celsius has been one of the biggest players in the crypto lending market, with over $8 billion in loans to its customers and $12 billion in assets under management as of May. It had 1.7 million customers as of June. It also offered interest-bearing accounts, with yields as high as 17 percent.

The case is still in its early stages, and the company will have to file a report within a month. It is expected that the court will order an independent examiner to examine Celsius’s finances. The independent examiner is set to deliver a report on December 10. Celsius also asked the bankruptcy court to approve bidding procedures for its assets, but its motion failed to identify which assets will be sold. Additionally, the company’s motion is vague on whether or not it intends to continue its crypto mining business.

In addition to the DOJ’s request, several other parties have asked for additional oversight measures. Some have called for the appointment of a Chapter 11 trustee and state securities regulators. The DOJ and state securities regulators are also investigating the company, citing potential securities fraud, mismanagement, and market manipulation. Celsius also has the support of a creditors’ committee in the case, which has already begun investigating many aspects of the DOJ’s original request.

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benefits of crypto lending

Benefits of Cryptocurrency Lending
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benefits of crypto lending

Source

Why You Should Look Into Cryptocurrency Lending

Cryptocurrency lending is a new phenomenon that has exploded in popularity over the last few years. It’s a way for people to make money by lending their cryptocurrency out for interest, and it’s gaining momentum as more people realize its benefits.

What is cryptocurrency lending?

Cryptocurrency lending involves sharing your cryptocurrency with others so they can use it for whatever purpose they wish. Instead of keeping it yourself, you loan it out to someone else—someone who will pay you interest on the loan. 

This person can then use your cryptocurrency to buy something in their local currency or other cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH).

How Does Cryptocurrency Lending Work?

Cryptocurrency lending works like a peer-to-peer loan, with one key difference: Instead of using dollars or other fiat currencies, you use cryptocurrencies. This means that instead of getting interest payments in your bank account, you get them in bitcoin or ether.

What Are the Benefits of Cryptocurrency Lending?

Cryptocurrency lending is a great way to earn some passive income and comes with many benefits.

There are many reasons why cryptocurrency lending is beneficial.

It’s Easy to Get Started

With a cryptocurrency lending platform, you can start funding your loan in just a few minutes—no need to scour the web looking for lenders, no need to fill out endless forms. Instead, you choose the loan amount and duration and then decide on a personal or business loan. The process is simple, so you can start earning interest right away!

It Has Flexible Loan Terms

Cryptocurrency lending is an emerging niche that offers investors a new way to make money. Instead of investing in stocks, bonds, or other traditional investment vehicles, you can lend money to others who need it for short-term purposes. 

When you apply for a loan, you can select whether to accept a long-term or short-term loan. Long-term loans have lower interest rates but higher monthly payments. In comparison, short-term loans have higher interest rates but lower monthly payments.

This gives you the flexibility to ensure you only pay what you can afford so you don’t end up with a mortgage payment that’s too high for your budget.

Low-Interest Rates

When you go to a bank, they will typically charge you a high-interest rate because they understand that most people don’t have the money to pay them back immediately. They also know that if you can’t pay them back, they’ll take your house or car away from you to get their money back.

With cryptocurrency lending, however, you don’t have to worry about this type of thing happening because cryptocurrencies are all digital currencies—they aren’t physical objects like houses or cars! 

And because there’s no physical property involved (unlike banks), lenders don’t need collateral to lend money out. So if someone defaults on their loan—which happens sometimes—the lender doesn’t lose anything but the principal amount of their loaned funds.

There’s No Need for Credit Checking

There’s no need for credit checking in cryptocurrency lending because they are running on decentralized network protocol. This means they’re not controlled by any single person or group, which means anyone can participate in the transaction.

In traditional lending, you would have to check your credit score to know if you could get a loan or not. You would also have to pay fees for that service, which adds up if you’re applying for many loans or if your credit score is low enough that you can’t get approved for any loans.

But with cryptocurrency lending, there’s no need for this checking because it’s based on your reputation as a borrower rather than on your credit score.

You Have Your Choice of Loan Currency

Lending money is a big deal. It’s not just about the amount you’re taking on but also where the currency of that loan comes from.

If you have a choice in currency, it means that your lender will let you borrow in any of the currencies they support—and that can make a huge difference when it comes time to pay back your loan.

If you choose to pay in USD, for example, then you’ll only have to convert your crypto into USD if you want to cash out. This can be a huge benefit if you’re looking for somewhere to hold onto your crypto until its value increases again.

But suppose you choose to pay in ETH, BTC, or any other cryptocurrency. In that case, you don’t need to worry about converting it back at all—you can use it as payment for whatever service or good you were buying with your loaned money!

Conclusion

In conclusion, cryptocurrency lending is a great way to make money in the cryptocurrency market. It’s easy to start and can give you a chance to diversify your portfolio or even use it as an investment vehicle.

The technology behind cryptocurrency lending has come a long way and will only improve. Cryptocurrency lending is one of those rare cases where the technology is so innovative that it’s changing the world around us—and that can be exciting! Visit our blog today if you’re interested in learning more about cryptocurrency trading, investing, or lending, or what is the future move of the bitcoin and other crypto in order to stay safe in this risky volatile but profitable market.


Want to learn more about making money with crypto, also read about The Plan by Dan Hollings.

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Do Kwon (Terra) Arrested & Alex Mashinsky (Celsius) Resigns
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Terraform Labs Founder Do Kwon Arrested

Do Kwon arrest

The arrest warrants against Do Kwon and his associates have been issued by the South Korean government. These warrants are valid for a year, and they have been issued by the 2nd Division of Financial Investigation. Prosecutors are working with Interpol to try to find Kwon and his associates.

Kwon and his colleagues are accused of violating the rules of the capital market. He was barred from leaving the country in June and July, and he was questioned by prosecutors at local cryptocurrency exchanges. He denied that the UST stablecoin he helped create was a scam, but critics say the project was rotten from the inside.

The arrest warrant is valid for one year, but it is still possible for Korean prosecutors to search for Kwon even if he lives in another country. The South Korean government has asked Interpol to help them search for him, and the fugitive will be arrested if they find him.

Terraform Labs founder Do Kwon has been arrested on suspicion of violating the Capital Markets Act. In addition to Do Kwon, two other employees of Terraform Labs were also arrested. The arrest warrant was first reported by Chosun Ilbo, a South Korean newspaper.

sources:

https://news.bitcoin.com/luna-founder-do-kwon-isnt-in-singapore-police-say-after-south-korean-court-issues-his-arrest-warrant/

 

Alex Mashinsky Resigns as Celsius CEO and Bankruptcy Proceedings

Alex Mashinsky resignation as Celsius CEO

Alex Mashinsky is an American-Israeli entrepreneur and business executive. He was the founder of Celsius Network, which was a cryptocurrency lending platform. However, on July 13, 2022, the company filed for bankruptcy. It is unclear whether Mashinsky will make another attempt at cryptocurrencies. In the meantime, he is an inspiration to many aspiring entrepreneurs.

In the past, Mashinsky has been lauded for his success in the cryptocurrency market. He even defended the company on Reddit, saying that it was safer than banks. The company has since suffered massive losses. It faces a $1.2 billion hole in its balance sheet. Hundreds of small-time investors have written letters to the bankruptcy judge.

A bankruptcy filing in June led to a suspension of all withdrawals while Celsius’s board members worked to create a viable restructuring plan for its creditors. A special committee was formed, including Alan Carr and David Barse. The new board will be tasked with putting the company back on track.

Celsius’s bankruptcy filing prompted the company to hire Chris Ferraro as interim CEO and chief restructuring officer. He was previously the company’s chief financial officer. He spent almost two decades at JPMorgan Chase.

Alex Mashinsky Resignation

Celsius Network’s CEO Alex Mashinsky resigned on Monday, September 27th, 2022. The news has caused a significant downturn in the native token CEL, which fell nearly 10% in the last hour. The company’s stock price is trading at $1.38, down 10% from its high of $1.68 an hour earlier.

The former Celsius CEO has been a prominent pitchman for high-yield investments. However, his decision to step down comes amid a restructuring process. As a result, the crypto lender has appointed former CFO Chris Ferraro as interim CEO and chief restructuring officer. Celsius’s creditor committee believes Ferraro can effectively oversee the company’s affairs and assets, and looks forward to further dialogue with him.

The resignation letter, which was submitted to the Celsius Network Board of Directors on Monday, was accompanied by an oblique challenge to find a withdrawal denial from Mashinsky. In the end, the CEO decided to step down in order to avoid further commotion. The news that Mashinsky is no longer employed with the company has led to a flurry of speculation about his future.

source:

https://cointelegraph.com/news/celsius-ceo-alex-mashinsky-resigns

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