The first update has been finished, and the next is slated for the 27th of September.
Vasil upgrade was named after the late member of the Cardano community Vasil St. Dabov.
After the Cardano team triggered all three “critical mass indications” necessary for the upgrade, the Cardano Vasil update was successfully accomplished. Additionally, the update has included a number of enhancements and, as expected, will make Cardano more scalable. The first update has been finished, and the next is slated for the 27th of September.
Vasil hard fork will improve a number of facets of the Cardano network’s blockchain. Cardano developer Input Output Hong Kong (IOHK) claims in a blog post that the blockchain’s user experience would be enhanced and development time shortened because of Vasil-enabled apps. It will reduce transaction costs and increase the network’s capacity to handle more users.
Moreover, Vasil hard fork aims to strengthen connections and the network as a whole. Cardano’s much-anticipated addition of smart contract functionalities was made possible via the Alonzo hard fork. The first Cardano hard fork, which went live on September 12, 2021.
More advanced CIP methods, UTXO (unspent transaction output) support, and Hydra integration are only a few of the new features introduced by Vasil. The Vasil hard fork proposes CIPs with the goal of expanding the capabilities of the Plutus smart contract language while maintaining its ease of use.
The Vasil upgrade was named after the late member of the Cardano community Vasil St. Dabov. It brings in a wide variety of network capabilities. Its throughput, efficiency, and block delay speeds should all improve after this upgrade.
Diffusion pipelining, an innovative technological approach, is one example. As a result, block propagation times are improved, which ultimately results in more data being sent per second. Meanwhile, Plutus, Cardano’s native smart contract language, is also receiving improvements.
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Top Exchanges Extend Support to Cardano Vasil Hard Fork
Kishida said the country would expand the use of Web3 services.
Japan has decided to strengthen an existing money laundering regulation.
In a policy speech on Monday, Japan’s Prime Minister Fumio Kishida announced his intention to boost developments in Non-fungible tokens (NFTs) and the Metaverse. According to Kishida, the country would increase its investments in digital transformation and expand the use of Web3 services, reported the Japanese Prime Minister’s Office.
Over time, Japan’s position on cryptocurrencies has evolved. Following the “New Capitalism” concept of Japanese Prime Minister Fumio Kishida aims to strengthen Japan’s economy. The Prime minister has already promised to double household wealth and committed to assisting in the expansion of Web3 companies around the country. Also previously Kishida has said that the nation’s future growth strategy will include developments relating to the metaverse and NFT.
The prime minister made additional notes in the statement about digitizing national identification cards. And he added Japan will continue supporting the social implementation of digital technologies. In 2021, Kishida positioned himself in Web3 development, which he considered one of the fundamental elements of economic change.
Japan Stands on Digital World
In July, Japan’s Ministry of Economy, Trade, and Industry established a “Web 3.0 Policy Promotion Office to improve the system analyzing the business environment for blockchain-based companies. Additionally, the University of Tokyo intends to include metaverse-related courses in its curriculum. The university will offer different types of engineering courses that make use of metaverse technology.
Furthermore, according to the recent announcement, the Japanese government is attempting to implement some regulations regarding remittances to prevent criminals from using exchanges to launder money.
IMX price could be ready for a short-term relief rally as price breaks out from the downtrend, creating more bullish sentiment for a recovery.
IMX looks strong on both low and high timeframes.
The price of IMX breaks out on the daily timeframe after forming a descending triangle.
ImmutableX (IMX) has struggled to remain bullish against tether (USDT) after seeing its price rejected from a region of $1.3. Previous weeks for the crypto space have been slow as most altcoins, and major cryptocurrencies like Bitcoin (BTC) continued to move in a range. With so much belief in Uptober, as many would call it, has brought some relief bounces across the crypto space with ImmutableX (IMX) not left out of the train. (Data from Binance)
ImmutableX (IMX) Price Analysis On The Weekly Chart
The new month has been a relief for most crypto projects, with altcoins such as BTC, ETH, and even XRP, continuing to show strength after weeks of downtrend movement.
The price of IMX has struggled to remain bullish, falling from a high of $1.3 to a weekly low of $0.7, with the price looking more stable as the price looks ready to bounce off from this region.
After hitting a bottom low of $0.7, the price of IMX bounced swiftly from that region as the price rallied to a high of $1.1. Still, the price was rejected from that region as IMX was unable to breach this area aching as resistance for price and preventing a major rally to the $1.2 area.
The price would not hold as IMX found its price retesting the support at $0.7, IMX closed the week with so much indecision among buyers and sellers, but the new week looks good as there have been more buyer orders pushing the price upward.
If the price of IMX continues to maintain this structure, we could see a retest of the $1.1 area, and if the price of IMX breaks and hold above this region, we could see a more bullish scenario.
Weekly resistance for the price of IMX – $1.1.
Weekly support for the price of IMX – $0.7.
IMX Analysis Of REN On The Daily (1D) Chart
On the daily timeframe, the crypto market cap price remains bullish, holding the support at $850 billion ($850B); this has also impacted the price of the altcoins like IMX as it shows a more bullish form on the daily price chart. The price of IMX broke out of its descending triangle on the daily timeframe, with the price ready for a rally to $1-$1.2.
The price of IMX is currently trading at $0.78, with the price holding above the 8 and 20-day Exponential Moving Averages (EMA) after breaking through resistance in this region, flipping it into a support for IMX price. The price at $0.75 corresponds to the values of 8 and 20-day EMA acting as support.
Daily resistance for the price of IMX – $1.2.
Daily support for the price of IMX – $0.75-$0.7.
Featured Image From Zipmex, Charts From Tradingview
Swiss-based digital asset data and analytics Fintech, Nuant, is launching a platform that solves a critical industry-wide portfolio management problem for institutional funds invested in digital assets: namely data fragmentation from exchange accounts, on-chain wallets, custodial wallets, on-chain data and market data by providing a single unified hub to manage, monitor and make accurate data-driven investment decisions for digital asset portfolios. For the first time, funds will now have access to accurate on-chain and market data, metrics, analytics and compliance tools for all current holdings as well as potential new assets into a portfolio, in one place, in real-time.
The new service, which is targeted at digital asset portfolio managers, analysts, researchers and data scientists, will provide a single dashboard and tools for portfolio management, analytics, research, and compliance. Through seamless integration of cryptocurrency wallets, custody solutions and exchange accounts married to integrated on-chain and market data, Nuant will allow users to gain a comprehensive overview of their entire digital asset portfolio, regardless of where assets are managed and stored.
Founded in the Swiss Crypto Valley in March 2021 by a leadership team that spans the finance, technology, digital asset, and quantitative research sectors, Nuant has developed a number of proprietary capabilities specifically tailored to digital asset portfolio analytics. These include its own on-chain data and insights service, providing curated insights for decision support, as well as a data query engine to rapidly interrogate and analyze on-chain data in addition to dedicated tools to examine specific wallets or tokens for compliance or risk management purposes.
In addition, Nuant has developed its own domain-specific language, Nuant Query Language (NQL), which significantly reduces the time and code needed to execute custom queries and calls, allowing clients to rapidly build, prototype, backtest, stress test, and deploy their own proprietary analytics and strategies to find that desired alpha. These proprietary technologies along with Nuant’s own on-chain data service are combined with off-chain market data from leading providers to offer 360-degree visibility of the digital asset market.
“Successful investment management starts with accurately understanding the market, its risks and opportunities, which is where accurate data and intelligence play a crucial role. And unlike the traditional markets, the digital asset market has some very unique characteristics that require a very specialized lens to fully understand them. For example, the vast amount of data that is required to generate actionable alpha is very challenging to extract, process and leverage”, Nuant’s co-founder & CEO Rachid Ajaja explained. “Nuant offers the complete range of data, metrics, analytics, insights, and applications truly needed to identify risks and market opportunities”.
Nuant’s Chief Revenue Officer Stuart Petersen added: “For far too long, institutional professionals in the cryptocurrency space have been forced to rely on a patchwork of disparate platforms, data services, self-managed connectivity to their accounts and wallets, their own Excel sheets, formulas and analytics to gain even the most basic understanding of the market value of a portfolio. Most funds have not even begun to think about the additional data, analytics and tools required to actively manage portfolios and gain those valuable insights that highlight risk and uncover opportunities in an operationally robust and cost-efficient manner. Nuant offers that unified platform to assess the risk and performance of all existing holdings, and gain real-time actionable intelligence to drive future decisions.”
Nuant expects to onboard the first customers onto its SaaS platform towards the end of 2022.
Nuant is an integrated platform for portfolio management, analytics, and due diligence of crypto assets. Through seamless integration with cryptocurrency wallets, custody solutions, and exchange accounts, Nuant provides portfolio managers, researchers and analysts a comprehensive overview of their entire portfolio in one place, in real-time. A clean and intuitive UI provides access to a wide range of customizable metrics, analytics and charts derived from both on-chain and market sources. In addition, Nuant greatly simplifies the process and client experience of making custom queries as well as building, backtesting and deploying custom analytics through its proprietary querying & scripting language.
Breakthrough solves major challenge in digital ecosystem development
Shows how digital currencies and assets could be used at scale across borders by leveraging existing financial infrastructure
14 central and commercial banks already testing new CBDC solution
BRUSSELS–(BUSINESS WIRE)–SWIFT has successfully shown that Central Bank Digital Currencies (CBDCs) and tokenised assets can move seamlessly on existing financial infrastructure – a major milestone towards enabling their smooth integration into the international financial ecosystem.
The findings, from two separate experiments, solve the significant challenge of interoperability in cross-border transactions by bridging between different distributed ledger technology (DLT) networks and existing payment systems, allowing digital currencies and assets to flow smoothly alongside, and interact with, their traditional counterparts. This important step forward builds on SWIFT’s core capabilities and means that as CBDCs and tokens develop, they can be rapidly deployed at scale to facilitate trade and investment between more than 200 countries and territories around the world.
Interlinking CBDCs for seamless cross-border payments
Globally, nine out of 10 central banks are actively exploring digital currencies — often using different technologies and with a primary focus on domestic use. For the potential of CBDCs to be fully realised across borders, these digital currencies need to overcome inherent differences to interact with each other, as well as with traditional fiat currencies.
SWIFT, in collaboration with Capgemini, achieved CBDC-to-CBDC transactions between different DLT networks based on popular Quorum and Corda technologies, as well as fiat-to-CBDC flows between these networks and a real-time gross settlement system. The success showed that the blockchain networks could be interlinked for cross-border payments through a single gateway, and that SWIFT’s new transaction management capabilities could orchestrate all inter-network communication.
14 central and commercial banks, including Banque de France, the Deutsche Bundesbank, HSBC, Intesa Sanpaolo, NatWest, SMBC, Standard Chartered, UBS and Wells Fargo, are now collaborating in a testing environment to accelerate the path to full scale deployment.
Unlocking the potential of tokenised assets
In a separate experiment with a different group of participants, SWIFT similarly demonstrated that its infrastructure can serve as an interconnector between multiple tokenisation platforms and different types of cash payment.
Working in collaboration with Citi, Clearstream, Northern Trust, and SETL, its technology partner, SWIFT explored 70 scenarios simulating market issuance and secondary market transfers of tokenised bonds, equities and cash. It successfully served as a single access point to various tokenised networks and showed its infrastructure could be used to create, transfer and redeem tokens and update balances between multiple client wallets, as well as provide interoperability between different tokenisation platforms and existing account-based infrastructure.
Tokenisation is a relatively nascent market, but the World Economic Forum has estimated it could reach $24tn by 20271. The potential benefits include greater market liquidity and fractionalisation, which could increase access to investment markets for retail investors, and enable institutional investors to build stronger portfolios.
Tom Zschach, Chief Innovation Officer at SWIFT, said: “Digital currencies and tokens have huge potential to shape the way we will all pay and invest in the future. But that potential can only be unleashed if the different approaches that are being explored have the ability to connect and work together. We see inclusivity and interoperability as central pillars of the financial ecosystem, and our innovation is a major step towards unlocking the potential of the digital future. For CBDCs, our solution will enable central banks to connect their own networks simply and directly to all the other payments systems in the world through a single gateway, ensuring the instant and smooth flow of cross-border payments.
“Tokenisation has great potential when it comes to strengthening liquidity in markets and increasing access to investment opportunities, and SWIFT’s existing infrastructure can ensure these benefits can be realised at the earliest opportunity, by as many people as possible.”
The experiments are part of SWIFT’s extensive innovation agenda in support of its strategic focus on enabling instant, frictionless and interoperable cross-border transactions. The cooperative, which connects more than 11,500 financial institutions and 4 billion accounts across 200 countries and territories, was created to bridge geographies, technologies and currencies. And it has been transforming the underlying infrastructure of the global economy at pace to meet the rapidly changing requirements of businesses and consumers. This includes a new standard, SWIFT Go, for low value payments, and services like Payment Pre-validation that uses predictive intelligence to pre-check international payments before they begin to prevent common mistakes that cause delays.
Full details of the experiments, and the results, can be found here:
Connecting digital islands: CBDCs
Connecting digital islands: tokenised assets
SWIFT is a global member owned cooperative and the world’s leading provider of secure financial messaging services. We provide our community with a platform for messaging and standards for communicating, and we offer products and services to facilitate access and integration, identification, analysis and regulatory compliance.
Our messaging platform, products and services connect more than 11,500 banking and securities organisations, market infrastructures and corporate customers in more than 200 countries and territories. While SWIFT does not hold funds or manage accounts on behalf of customers, we enable our global community of users to communicate securely, exchanging standardised financial messages in a reliable way, thereby supporting global and local financial flows, as well as trade and commerce all around the world.
As their trusted provider, we relentlessly pursue operational excellence; we support our community in addressing cyber threats; and we continually seek ways to lower costs, reduce risks and eliminate operational inefficiencies. Our products and services support our community’s access and integration, business intelligence, reference data and financial crime compliance needs. SWIFT also brings the financial community together – at global, regional and local levels – to shape market practice, define standards and debate issues of mutual interest or concern.
Headquartered in Belgium, SWIFT’s international governance and oversight reinforces the neutral, global character of its cooperative structure. SWIFT’s global office network ensures an active presence in all the major financial centres.
1 HSBC, The 10x potential of tokenization – Democratising investment opportunities, https://www.gbm.hsbc.com/-/media/gbm/insights/attachments/potential-of-tokenisation.pdf
The DNS-Domain Name System, is a service at the heart of how the Internet operates. It is fundamental to the functioning of many services such as websites, mail servers, VoIP telephony and many others. The core of DNS Services is to resolve the IP Address and make them into human readable names which are easy to remember, This ensures the user can use and remember godomains.io instead of long string of numbers which translate into 22.214.171.124. The DNS functions as a public directory that associates domain names with resources on the Internet, such as IP addresses. When a user enters an address in his browser, a DNS server translates this humanly understandable address into an IP address that is understandable by computers and networks. This is DNS resolution.
The domain name system is based on a centralised model of trust. It is distributed throughout the world and managed by different actors in a hierarchical manner, in several levels; a root level, a first level where extensions are managed by registries, then a second level managed by registrars. The whole thing is orchestrated by ICANN, the Internet’s regulatory authority.
Blockchain and Decentralised Registry
A Blockchain is a data structure accessible to all and distributed over a decentralised network; the data is replicated on each node of the network, there is no central authority. Everyone has the possibility to read its contents, add data and even join the network. The concept was first implemented in 2009 with Bitcoin, but today there are many different Blockchain technologies, each with their own properties.
The data is entered on a Blockchain via transactions. The transactions are grouped into blocks, each block is then validated by the network and then brought together. Thus, a Blockchain contains the history of all the transactions carried out since its creation.
How is BNS different from DNS?
A centralised online domain management system called DNS promotes domain censorship, persistent hacking, website seizure, and government surveillance. A good example is www.ABCD.com, where “ABCD” is a memorable and distinctive domain name and “.com” is the top-level domain.To respond to your request to open a particular website, DNS converts domain names into website IP addresses.
Along with a decentralised wallet address, BNS is utilised as a decentralised domain name, identity, and other services. Therefore, no censorship option is accessible to everybody. It provides protection from cyberattacks and security.
For instance, www.mydomain.go, where “.go” is stands for global aspiration of the users who registers the domain, If you use it as a standalone piece of software or as a browser extension, you can use the same address for payments. As a result, BNS addresses the core issue with blockchains and enables consumers to adopt the latest trend.
Features of BNS
BNS is essential for both businesses and people, helping to secure transactions. The following are some of the key characteristics of the Blockchain Naming Service:
Self-custody is a crucial aspect of the blockchain industry. Your domain name becomes decentralised as a result, allowing you total control over it. Self-custody allows you to have sole control over your domain, decentralised websites, and other benefits.
Blockchain domains are impervious to third-party alteration, modification, censorship, or purging.
Instead of webpages, the blockchain domain is directly connected to bitcoin wallets.
To access blockchain domain names, which is simpler, you will require software. To fix serious problems, you can also add the domain to your browser’s extensions.
BNS gives modern blockchain users security, improved functionality, and accessibility.
It resists censorship and allows people more control or ownership.
It can also be used as a platform for decentralised data storage and recovery, hosting no content on the main server.
Let’s now discuss some of the top BNS marketplaces where you can purchase a blockchain domain name
The goal of Unstoppable Domains is to give people access to the internet’s power once again. They develop NFT domains that give you back control over your data. These are superpower-infused domains rather than merely conventional ones. You can register domains with extensions such as.zil,.crypto,.wallet,.coin,.x,.nft,.dao,.bitcoin, and others.
The domain name can be used as your username on various websites and applications, as well as your website’s URL and wallet payment addresses. Since the domains are supported by browsers like Opera, Chrome, Firefox, Edge, and Brave, using blockchain domains won’t be a problem.
Numerous programmes, including Chainlink, Bitcoin.com Wallet, Coinbase Wallet, Rainbow Wallet, MyEtherWallet, Trust Wallet, The Graph, BRD, and others, also support Unstoppable Domains. You will never have to be concerned about sending payment to the incorrect address thanks to all the advantages of using these blockchain domains.
It’s easier than ever to send cryptocurrency to the recipient’s domain. With a single domain, you may send Ethereum, Bitcoin, and other currencies. With Unstoppable Domains, you may purchase a domain name rather than searching for a rented one.
Pay once, use forever. It functions just like cryptocurrency, so you save the domain in your wallet so that only you can access it. The services are also compatible with iOS and Android applications.
GO Domain is one of the most trusted and fastest growing project in the BNS space. A .GO Domain on Blockchain is simillar to any extension (like .com) launched as smart contracts on blockchains. Domains are stored by their owners, no third party can take them away. In additions to hosting websites on IPFS, Blockchain Domains could be used to redirect Crypto Address, creatiion of avatars and many additional fetures.
The decentralized name service solution offered by Go Domains enables you to generate easily collectible self-owned unique public addresses. With a catchy domain name and a cryptocurrency-focused domain extension, Go Domains can replace your lengthy wallet address. It is possible to utilize names instead of the 37 hexadecimal characters that make up a bitcoin wallet address, such as yourname.go and yournickname.go. Get one for you at Godomains.io
The services are created utilizing blockchain protocols, and Go domain addresses are hosted on the XinFin XDC Network blockchain.
Get distinctive domains on Solana to make the transfer of your funds easier. Now is the time to register your domain and get to work on your ideas.
Instead of using a lengthy wallet address, come up with a user-friendly and memorable domain name to prevent malfunction. It’s extremely easy to proceed; just put in your bid by looking through the domain names.
To make money off of your collection, you may also put the same domain up for auction. It supports a number of wallets, including Blockto, MathWallet, Phantom, Solflare, Sollet, Torus, Coin98, Slope, and Sollet.
Before the auction closes, choose your preferred wallet and place a bid for the available domain name. There are many other domains that people have developed and put their money into.
To submit a bid, all you have to do is type in your domain name or look at the auction list.
Decentralized naming is available from ENS for your websites, wallets, and more. Use the search box on the Ethereum Name Service to find the domain of your choice, register it by specifying the number of years, and start using it for transfers.
The dashboard makes it simple to manage your domain. When you have the advantage of utilising your own username, there is no longer any reason to use sandboxed usernames. ENS enables you to choose your own login, save a favourite avatar, preserve personal information, and use the same information across other services.
Use your ENS domain to store all of your addresses as well as to send and receive tokens, cryptocurrency NFT, and other things. Additionally, you can use ENS to start a decentralised website, upload it to IPFS, and then access it directly using the ENS name you register.
You can also combine your ENS names with the DNS names you are familiar with. ENS supports a wide range of DNS names, including.com,.org,.io,.xyz,.art,.app, and more. With ENS, you receive full security advantages in addition to the.ETH suffix.
Numerous wallets, including Rainbow, MyCrypto, Coinbase, Bitcoin.com Wallet, and others, are part of the ENS ecosystem. You will also receive a wide variety of apps, such as Uniswap, Showtime, Etherscan, OpenSea, Aave, and many others.
Browsers like Status, Cloudflare, MetaMask Extension, Opera, Brae, and others let you access your website URL.
Proton Chain is a payment Blockchain that works effectively for businesses. The Proton chain’s theory is quite simple and easy to understand. In the world of cryptocurrency, Proton Naming Service is crucial.
Each individual and corporate account will have a special name that is readable by humans and simple to remember.
A person’s address can be used to send FIAT currency, Proton Chain makes things that easy.
Many identification attestation documents for organisations and people are kept in Proton Chain. The Proton chain queries the identity service providers with your consent. Additionally, a broad variety of multiple wrapped stablecoins, including PAX, TUSD, and USDC are supported.
Proton Chain has a daily transaction capacity of about 40 million, which is significantly more than that of other blockchain applications. You pay nothing for whatever transactions you conduct.
Decentralized identity, decentralised verification, and decentralised domains are all applied in Proton. You’ll be able to choose from domains like.BTC,.XPR,.BNB,.ETH, and others. Additionally, it supports top-level domains like.COM,.EDU,.GOV, and others.
Through in-wallet payment requests, applications can communicate with the blockchain. Because of its cutting-edge technology, it is so beneficial that Chrome plugins are no longer necessary. You may describe it as programmable money that is used for your benefit.
As decentralised domain names are the way of the future, register your blockchain domain with PeerName. It provides a web-based interface that is simple to use for domain name registration.
All of the domains are kept by PeerName in cold storage, which is separate from computers and the internet. It aids in defending your domains against theft and assault. As a result, you can trust PeerName knowing that your domains are in good hands.
You will have complete control over your domains with PeerName, along with superior security communications, hidden owner name service, and other benefits. The domain renewal and registration process depends on offline signed transactions.
Requesting the transfer is free at any moment. For the first year, using PeerName is likewise without charge. It offers specific blockchain domain extensions, including.bit,.coin,.bazar,.emc,.lib, and.onion. You can renew your domain for.bit for $13.99 per year. For $399, you can launch your domain for all time.
EmerDNS is provided for you by Emercoin, hence, you do not have to worry that the authorities will suspend your website. Given that it is completely decentralised, it is the way out.
No matter whether censorship is there, EmerDNS is unaffected. It prevents other users from making changes to your record; only you will be able to view the content whenever you need it. Additionally, webpages can be quickly resolved using a variety of browser add-ons and OpenNIC servers or proxies.
EmerDNS works under the service abbreviation “dns” in the Emercoin NVS and supports the entire spectrum of DNS records. Because of its distributed and secure Blockchain, domain name records are thus uncensorable and decentralised.
In addition, you will be the only one with access to the private key associated with the payment address. Through the Emercoin API, you can utilise the name update and name new commands. Additionally, it offers you the greatest way to keep all of your domain names from being suspended or cancelled.
By installing the wallet, you can start using Emercoin. It is offered for Windows, macOS, and Linux. It is also compatible with smartphones.
Use.ART to monetize your art and increase online traffic. You can enter your preferred name to check its availability or select from a variety of available domains.
When establishing your brand, the URL is always important. The exploration and pricing are used to categorise each domain name.
Select the one you prefer, then pay quickly and easily. It will give you a single address that will cover all of your needs as you develop your brand. the website address. ART is memorable and aids in generating organic traffic.
In order to satisfy you with the price while you purchase your desired domain name, .ART creates an amazing pricing strategy. You have five days to decide and request a complete refund if you are unhappy with the service.
The advantages of blockchain domains over traditional ones are numerous. BNS has the power to alter how people perceive the digital world. Decentralized websites and identification are only getting started, and many people and companies can benefit from this technology.
Choose one of the Blockchain Naming Service (BNS) services indicated above to easily obtain your own blockchain domain name without the need for censorship or the involvement of third parties.
Celsius froze client withdrawals and later filed for Chapter 11 bankruptcy protections.
Mashinsky handed up his resignation a week ago today.
On Tuesday, S. Daniel Leon, co-founder of Celsius Network and Chief Strategy Officer, announced his resignation. After previous CEO Alex Mashinsky, he is the most recent executive to leave the organization.
The Financial Times stated that Leon is leaving Celsius while the company continues its bankruptcy procedures. Mashinsky handed up his resignation a week ago today. After filing for Chapter 11 bankruptcy in New York in July, Celsius is now being investigated by a federal-appointed and court-authorized investigator.
Yet Another High-Rank Exit
Tiffany Fong, a YouTuber, had previously released recordings of two all-staff meetings at the firm, which she said hinted at Leon’s departure. Mashinsky and several other executives put out a “Kelvin” rehabilitation plan that emphasizes maintaining safe and secure possession of the subject. In another, Celsius’ co-founder and CTO Nuke Goldstein proposed issuing “IOU” tokens to clients.
Celsius has been accused of not being entirely forthright with the U.S. Trustee’s office and some of its creditors about the company’s financial status. These assertions are the focus of the investigation. Earlier Celsius froze client withdrawals and later filed for Chapter 11 bankruptcy protections.
The email said that Lior Koren, the company’s former global tax director, would be taking over and would be based in Israel. A confirmation of Leon’s resignation was sent to CNBC by Celsius.
New Jersey-based Celsius made news in June when it froze user accounts in the midst of the so-called “crypto winter” and a liquidity constraint throughout the sector. In the days before the suspension, Celsius was one of the biggest crypto lending platforms, with $8 billion in loans to customers and over $12 billion in assets under control.