NEWS | Goblin Crypto

READ: Celsius CEO Files Bankruptcy Declaration — Says Celsius Froze 58,000 Accounts Worth $180 Million

07/14/2022 8:28 pm 07/15/2022 2:24 am

Disgraced crypto lender Celsius Network CEO Alex Mashinsky on Thursday filed a declaration on his company’s bankruptcy, detailing its financial plight and attributing its trouble, in part, to a “relatively minor” $15.8 million loss during the collapse of the TerraForm Labs ecosystem. In a 61-page statement filed with the U.S. Bankruptcy Court for the Southern District of New York, Mashinsky called Celsius “a young company in a novel and developing industry, that experienced rapid growth and …

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JPMorgan Report Finds Cost of Mining Bitcoin Fell to $13,000 in June

07/14/2022 12:00 pm 07/14/2022 6:15 pm

The cost of producing a bitcoin fell nearly 50 percent over the last month to a total of $13,000, JPMorgan analysts said Wednesday. The cost of producing a bitcoin was $24,000 at the beginning of June, analysts said. They explained the declining cost of production had been “driven almost entirely by the decline in electricity use.” Electrical usage has surged in the United States over the summer due to heightened temperatures. Bitcoin-miner Riot Blockchain temporarily …

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Ripple Co-Founder Jed McCaleb Set to Finish Dumping His XRP by July 16

07/13/2022 1:00 am 07/13/2022 7:57 am

Ripple co-founder Jeb McCaleb will finish a firesale of his company’s native token on July 16, according to on-chain analytics. The 47-year-old developer announced in 2014 that he was seeking to divest from the project and has been selling his XRP holdings at a rate of roughly 4 million daily. As of Wednesday, his wallet was down to 13.7 million XRP, down from its original 9 billion. The remainder was worth about $4.3 million at Wednesday’s token …

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Harmony User Threatens Vote to Depose Founder if He Doesn’t Step Down by Friday

07/12/2022 11:00 pm 07/21/2022 10:27 pm

A Harmony Protocol user called on Tuesday for Harmony founder Stephen Tse to step down, saying he would introduce a vote among the network’s validators if Tse failed to do so by Friday. The user, OgreAbroad, said in a post on Harmony’s forum that he sent a letter to Tse and the network’s Li Jiang threatening to open a snapshot vote on his proposal if Tse declined to leave by Friday evening. “It brings me no joy …

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Vermont Regulators Join ‘Multistate Investigation’ of Celsius Network

07/12/2022 6:00 pm 07/19/2022 3:52 pm

Vermont regulators said Tuesday they were joining a “multistate” investigation of disgraced crypto lender Celsius Network, warning investors to “proceed with caution.” In an afternoon statement, regulators from the state’s Department of Financial Regulation said they believed Celsius had “engaged in an unregistered securities offering by offering cryptocurrency interest accounts to retail investors,” and noted the company also lacked a money transmitter license. “This means that until recently, Celsius was operating largely without regulatory oversight. …

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