Bitcoin News and Finance: What You Need to Know

Following the rumors and speculation surrounding the crypto lending firm Celsius, a Wall Street Journal report, quoting “people familiar with the matter,” explains that the company is reportedly hiring restructuring lawyers. Basically, hiring restructuring and insolvency attorneys is one of the first stages of fixing a company’s financial hardship by essentially attempting to avoid insolvency. Report Says Celsius Is Looking for Help From Investors or a Well Known Restructuring Law Firm On June 13, 2022, Bitcoin.com News reported on the lending platform Celsius shutting down specific operations such as withdrawals, swaps, and account transfers. Those operations are still not available to Celsius customers, and a recent report published by the Wall Street Journal (WSJ) explains that Celsius may be seeking help from a restructuring law firm. The report notes that the crypto company may be leveraging the bankruptcy and restructuring law firm Akin Gump Strauss Hauer & Feld LLP. Th...

PRESS RELEASE. Gather up your partner, family, and friends to come and be a part of the genesis XOXO NFT collection, known as the “XOXO Love stories”. 101 Exclusive non-perfect couples, that were handpicked by the Devirs, with a one-of-a-kind background love story. Each piece has a special narrative written individually by Maya and Yehuda themselves. All of the 101 NFT holders will receive a physical book with all 101 Love Stories from the collection, signed by Yehuda and Maya according to the purchased NFT’s story number. An extra airdrop of 1 XOXO NFT from the main collection and additional unique perks will be revealed by Maya & Yehuda in a private online meeting soon. The decision to split the main collection into two stages with different types of sale options was a bold one for the highly expected project, one that came after plenty of feedback from both the XOXO community and social media. The Devirs assured their fans that these steps were taken after listening to the...

Bank of Canada’s senior deputy governor says the central bank does not want to wait until crypto “gets a lot larger” before it brings regulatory controls in place. “This is an area that is still small, but it’s growing really rapidly,” the official said. Bank of Canada’s Official Stresses the Importance of Crypto Regulation Bank of Canada Senior Deputy Governor Carolyn Rogers talked about cryptocurrency regulation in an interview with Reuters Thursday. “This is an area that is still small, but it’s growing really rapidly. And it is largely unregulated,” she explained, adding: We don’t want to wait until it gets a lot larger before we bring regulatory controls in place. The total crypto market capitalization has fallen to below $1 trillion following Monday’s sell-off. According to data from Bitcoin.com Markets , the total market cap of the entire crypto market is approximately $918 billion at the time of writing. According to Canada’s central bank, the share of Canadians who ow...

A new Bank of America survey shows that out of more than 1,000 U.S. adults, 90% plan to buy crypto in the next six months. Moreover, nearly 40% of respondents revealed that they use cryptocurrency as a means of payment. Bank of America’s Crypto Survey Bank of America (BOA) analyst Jason Kupferberg shared his crypto outlook in an interview with CNBC Monday. He was asked about a recent Bank of America survey that showed sustained interest in cryptocurrencies. The analyst explained that the survey was conducted early this month, which was after the collapse of cryptocurrency terra (LUNA) and stablecoin terrausd (UST). He added that over 1,000 U.S. adults participated, noting that the sample size was “pretty significant.” Kupferberg opined: It was interesting to see that 90% of respondents said they do plan to buy some amount of crypto in the next six months. He continued: “That was actually the same percentage who reported having actually bought some crypto over the prior six mon...

The governor of the Bank of England, Andrew Bailey, has reiterated his warning about cryptocurrency investing after U.S. crypto lender Celsius abruptly froze withdrawals. He stressed that investors should be prepared to lose all their money, emphasizing that crypto has no intrinsic value. Bank of England’s Governor Warns About Cryptocurrency Following Celsius’ Withdrawal Freeze Bank of England (BOE) Governor Andrew Bailey reiterated his concerns about cryptocurrency investing to the British parliament’s Public Accounts Committee Monday. Responding to a question on how regulators’ duty to protect consumers could clash with the government’s plan to promote financial innovation, he was quoted by Reuters as saying: If you want to invest in these assets, okay, but be prepared to lose all your money. “People may still want to buy them because they have extrinsic value,” he continued, adding that “people value things for personal reasons.” The Bank of England chief cautioned: But t...

In a post-mortem issued shortly after it lifted the freeze on bitcoin withdrawals, Binance has identified the “repairing of several minor hardware failures on wallet consolidation” as the incident that ultimately forced it to pause withdrawals. To fix the problem and to stop this from recurring, Binance said it changed the logic “to only take successful UTXO from consolidation transactions or successful withdrawal transactions.” Minor Hardware Failures Binance has said bitcoin withdrawals on its Bitcoin network have resumed just hours after “a stuck on-chain transaction” forced the exchange to freeze withdrawals for about three hours. According to a Twitter thread in which it seeks to reassure users, the exchange claimed that users’ deposits were unaffected. It added that users had an option to withdraw via other networks during the down period. In its post-mortem of the events that forced the exchange to halt withdrawals, Binance claimed that the “repairing several minor hardwar...