Crypto Lender Celsius Taps Horizen for ‘Proof-of-Reserves’ Proof of Concept
The proof-of-reserves pilot would take information that appears on Celsius’ website and have it fed from a public Horizen sidechain instead.
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Celsius Network Ltd., the crypto lender that filed for Chapter 11 bankruptcy protection on July 13, is looking to release roughly $50 million worth of crypto assets to Celsius custody account holders. Reportedly, the Celsius custody accounts did not participate in the earn and borrow program. A court hearing concerning the matter of relief will take place on October 6.
Celsius Files Debtors’ Motion to ‘Reopen Withdrawals for Certain Customers’
Court documents show that Celsius is looking to release roughly $50 million in funds to select customers. The....
Another crypto lender, Celsius Network, has sought bankruptcy protection in the U.S. “Customer claims will be addressed through the Chapter 11 process,” the company said. Two other crypto firms recently filed for bankruptcy protection: Voyager Digital and Three Arrows Capital (3AC). Celsius Follows Voyager, Files for Chapter 11 Bankruptcy Crypto lender Celsius Network announced Wednesday that it has “filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New....
IBM has unveiled its proof of concept for ADEPT, a system developed in partnership with Samsung that uses elements of bitcoin's underlying design to build a distributed network of devices - a decentralized Internet of Things. The ADEPT concept, or Autonomous Decentralized Peer-to-Peer Telemetry, taps blockchains to provide the backbone of the system, utilizing a mix of proof-of-work and proof-of-stake to secure transactions. IBM and Samsung chose three protocols - BitTorrent (file sharing), Ethereum (smart contracts) and TeleHash (peer-to-peer messaging) - to underpin the ADEPT concept.....
The U.S. Securities and Exchange Commission (SEC) and several state regulators are reportedly investigating the decision by crypto lender Celsius Network to freeze withdrawals.
U.S. Securities Regulators Investigate Celsius’ Withdrawal Freeze
The U.S. SEC and securities regulators in Alabama, Kentucky, New Jersey, Texas, and Washington are investigating the decision by crypto lender Celsius Network to freeze withdrawals, Reuters reported Thursday.
Texas’ director of enforcement Joseph Rotunda explained that officials representing the five state....
According to a Ripple Labs spokesperson, the distributed ledger company is interested in learning about the bankrupt crypto lender Celsius and its assets. When Ripple’s spokesperson was asked if the blockchain firm was interested in acquiring Celsius, the company declined to say. The news follows Celsius customers begging the bankruptcy court to release funds over dire financial emergencies. Ripple Spokesperson Explains Distributed Ledger Company Is Interested in the Bankrupt Firm Celsius and the Crypto Lender’s Assets While Celsius customers await the Southern District of....