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EXPLAINED: 5 - The Real Truth

Crypto lender Cred collapsed in 2020 after pulling in $135 million from customers. Its shady dealings foreshadowed FTX’s downfall—but regulators didn’t notice

Cred and its successor Earnity have been accused of using many sloppy tactics from the Sam Bankman-Fried playbook.

Fortune

ONE Championship’s Stamp Fairtex Hungry to Become Three-Sport World Champion

‘I won’t stop until I get it.’

Sports Illustrated

The shift from grammar schools to comprehensives had little effect on social mobility in England

Research shows that in the past 50 years, social class mobility – how a person’s occupation, social class or income compares with that of their parents – has either increased or stayed static in the UK.

The Conversation

From analysis to the latest developments in health,
read the most diverse news in one place.

Celsius turns to Fahrenheit to oversee bankruptcy exit

Fahrenheit won the bid after venture capital firm NovaWulf initially was named the winner of the auction in mid-April.

Fortune

John Oliver on cryptocurrencies: ‘This is all still a casino’

Last Week Tonight host examines the volatility and risks of cryptocurrencies through the collapses of Terra, Celsius and FTX

The Guardian - US

Celsius auction set for Tuesday, Coinbase and Gemini join bidding for bankrupt firm

The sale of Celsius—the crypto lender that was seeking a valuation of over $7 billion when it collapsed last June—took a number of twists this weekend as a bankruptcy filing revealed that two new consortiums will take part in a three-way auction for the company that is set for this…

Fortune

Unchained Capital, a Bitcoin lender and custodian, raises $60 million following competitors' collapse

The Bitcoin financial services firm is one of the few lenders to escape 2022 comparatively unscathed.

Fortune

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Future of Finance: Figure's Cagney says blockchain for payments nearing 'tipping point'

Figure built the Provenance blockchain, which has already supported more than $12 billion in transactions.

Fortune

Lido offers 5% crypto returns. Is it worth it?

Lido and other staking services have little in common with Celsius and other failed lenders.

Fortune

Celsius report details red flags investors missed

Customers have been trying to claw back $4.7 billion in deposits.

Fortune

Blockchain analyst firm Elementus is now worth $160M

The funding announcement reflects continuing investor interest in blockchain infrastructure and data analytics companies, even amid a Crypto Winter.

Fortune

Crypto firms acted like banks, then collapsed like dominoes

Over the past few years, a number of companies have attempted to act as the cryptocurrency equivalent of a bank, promising lucrative returns to customers who deposited their bitcoin or other digital assets

The Independent UK

Florida jury awards rapper Flo Rida $82 million in Celsius energy drink endorsement lawsuit

FORT LAUDERDALE, Fla. — Celsius energy drinks would be nothing without the backing of recording artist Flo Rida, and the Boca Raton-based company owes him more than $82.6 million in damages for trying to hide it, a Broward jury decided Wednesday.

Tribune News Service

Rapper Flo Rida awarded $82.6M for breach of contract case

Hip hop artist Flo Rida has been awarded $82.6 million after a South Florida jury found that Celsius energy drinks breached his contract and tried to hide money from him

The Independent UK

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Tribune News Service

‘I trusted them and they did not do their part’: Flo Rida takes stand in lawsuit against Celsius energy drink maker

FORT LAUDERDALE, Fla. — Flo Rida’s “My House” resounded through a Broward courtroom Wednesday afternoon, then cut off.

StockNews.com

Celsius Stock: Is It a Buy, Sell, or Hold Near All-Time High?

Celsius Holdings (CELH) has been surging lately. The stock reached its all-time high earlier this month. But is the upward momentum backed by substantial fundamental strength? Read on….

The Times of India

RBI pitches for common approach towards crypto assets to address potential risks

MUMBAI: To address potential financial stability risks and protect investors, it is important to arrive at a common approach to crypto assets, the Financial Stability Report released by RBI said on Thursday.

Fortune

Crypto's very bad year yielded even worse falls from grace. Here's a list.

Some of the industry’s biggest names fell from historic highs historically quickly.

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Bangkok Post

SEC readies stricter rules for digital assets

The Thai Securities and Exchange Commission (SEC) is preparing to impose more stringent regulations on digital assets to mirror the global market, with the aim of increasing investor protection.

Fortune

A bankruptcy court is allowing the busted crypto lender Celsius to hand out $2.8 million in bonuses to keep employees from quitting

“We’re getting really down to the nub of what we need to continue to function,” the company’s lawyer said during the court hearing.

Fortune

KuCoin CEO defends exchange amid high-yield product backlash

Are crypto platforms adequately educating users about risk?

Fortune

FTX users have a leg up on other crypto bankruptcy victims—on paper

If FTX customers retain control of their digital assets, then those funds need to be returned—not put through bankruptcy.

Fortune

FTX has at least 1 million creditors, more than 10 times what it previously claimed

When the exchange filed for bankruptcy on Friday it only mentioned about 100,000 creditors, not the more than 1 million acknowledged on Tuesday.

Fortune

Silicon Valley braces for the legal fallout from FTX

With so many affiliated companies, so many creditors, so many customers, and jurisdictions in different countries, one legal expert calls this a “maze of issues.”

Fortune

Sam Bankman-Fried quietly deletes his claim that FTX customer funds are safe

The future of client assets locked on crypto exchange FTX remains uncertain, with a Binance deal that can bail out the company depending on a closer look at the books.

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