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Spenser Reed

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The price of gold has broken through a new all-time high, surpassing the significant level of $2,100 during the Asian session on Monday, Dec. 4. Meanwhile, Bitcoin BTC tickers down $41,586 has also surged above $41,000 for the first time in 19 months.

Bitcoin breaks $41K as gold price reaches new all-time high

Spenser Reed - 0
Bitcoin price is surging in lockstep with gold as the precious metal hits a new historic high, suggesting investors are preparing for stock market...
Celsius Network, a cryptocurrency lending platform, might need to secure a fresh vote from creditors for its planned shift to a Bitcoin mining venture, as a U.S. bankruptcy judge suggested in a recent court session. The crypto lender provided details on Thursday, Nov 30, of its plan to only mine Bitcoin when it emerges from bankruptcy, a scaled-down business that reflects guidance from regulators. According to a report, Judge Martin Glenn, responsible for Celsius Network’s Chapter 11 proceedings, voiced displeasure on Thursday, Nov 30, regarding the abrupt change, emphasizing his repeated advisories to Celsius about the importance of reaching an agreement with the SEC. Judge Glenn reportedly highlighted that the proposed transformation into a Bitcoin mining business deviates significantly from the deal creditors initially voted on, potentially encountering considerable resistance from creditors. Celsius recently announced a scaled-back post-bankruptcy strategy, narrowing its focus to Bitcoin mining due to the U.S. Securities and Exchange Commission’s skepticism about its original business plans. While the SEC didn’t outright object to Celsius’ bankruptcy plan, the company stated that the agency was reluctant to endorse crypto lending and staking, activities it had previously disapproved of. Celsius attorney Chris Koenig reportedly contended during Thursday’s hearing that the court-approved bankruptcy plan allowed the company the flexibility to shift to a mining-exclusive business. According to Koenig, a new vote isn’t necessary as the revised deal is equally beneficial for creditors. Advertisement Unlock premium trading experience with Markets Pro. Start now Ad As per the report, two customers, proceeding without legal representation, expressed dissent toward the agreement in the court documents, contending that Celsius should undergo complete liquidation instead. Related: Celsius grants access to withdrawals for eligible crypto holders Celsius filed for Chapter 11 protection in July 2022, one of several crypto lenders to go bankrupt following the industry’s rapid growth during the COVID-19 pandemic. The updated Celsius plan releases $225 million in cryptocurrency assets from the control of external investors, known as the Fahrenheit consortium, as outlined by Koenig. Under the new proposal, Celsius creditors are projected to receive a 67% recovery, surpassing the 61.2% under the previous Fahrenheit arrangement, according to court records. During the preceding bid, the post-bankruptcy Bitcoin mining venture for Celsius will be overseen by U.S. Bitcoin Corp, a participant in the consortium alongside Arrington Capital.

Celsius faces hurdle as judge hints at new vote for Bitcoin...

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Judge Martin Glenn reportedly said that the proposed transformation into a Bitcoin mining business deviates significantly from the deal creditors initially voted on. Celsius Network,...
Bitcoin BTC tickers down returned to $38,000 on Dec. 1 after the November monthly close became its best since April 2022.

Bitcoin sees best monthly close in 19 months as BTC price...

Spenser Reed - 0
BTC price strength endures the end of November, Bitcoin beginning the new month with a trip toward the top of its local range. Bitcoin returned to...
Twitter (now X) co-founder and Bitcoin BTC tickers down $37,854 advocate Jack Dorsey is backing a new BTC mining pool to help miners regain control of block rewards and transaction fees.

Jack Dorsey wants to decentralize Bitcoin mining with new investment

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Ocean, which raised $6.2 million in a funding round led by Jack Dorsey, plans to enable miners to get block rewards directly from Bitcoin. Twitter...
United States personal finance company SoFi Technologies will end crypto trading services for its users by Dec. 19.

SoFi Technologies to cease crypto services by Dec. 19

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“You can agree to have your account migrated to Blockchain.com or close your account instead,” the company wrote. United States personal finance company SoFi Technologies...
Bitcoin BTC tickers down $37,377 rose above $38,000 on Nov. 24, but the bulls could not build upon this strength.

Bitcoin struggles to flip $38K to support, while UNI, IMX, VET...

Spenser Reed - 0
Bitcoin is facing resistance at $38,000, but UNI, IMX, VET and ALGO may extend their up-move in the short term. Bitcoin rose above $38,000 on Nov....
Vivek Ramaswamy, a United States presidential candidate and Bitcoin advocate, has assured that Bitcoin (BTC) will be a talking point at the Republican Debate in the months leading up to the 2024 presidential election.

What happened in crypto this weekend?

Spenser Reed - 0
U.S. presidential candidate Vivek Ramaswamy is bringing Bitcoin into the upcoming Republican debate, Kyber Network recovers $4.67 million and the GBTC discount is at...
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