Bitcoin
Celsius Customers Beg Bankruptcy Court to Release Crypto, One client desires Funds to ‘Put Food on the Table
Published
2 years agoon
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After the crypto lender Celsius filed for bankruptcy protection on July 13, the corporate recently contacted customers and explained that an employee from one in all the firm’s vendors accessed a listing of uranologist consumer emails, and also the email addresses were “transferred to a 3rd party.” What is more, uranologist customers have written to the court mendicancy to urge their crypto assets back mutually consumer aforesaid he had but $1K within the bank and his scenario was a dire emergency so as to “keep a roof over my family and food on their table.”
Celsius Customers Informed About Email Breach, Retail Investors Say They Were ‘Severely Impacted’ by Crypto Lender’s Fallout
It looks like Celsius has been contacting customers by email, and explaining that a listing of consumer emails were reportedly transferred to a third-party. That email says it absolutely was when an Employeefrom one of Celsius’s vendors had accessed the list. The story became a topical voice communication on social media, despite the fact that the crypto loaner uranologist says “we don’t take into account the incident to gift any high risks to our shoppers whose email addresses might are affected.” in fact, several crypto community members shared the news way and wide across Twitter, Facebook, and Reddit.
This is not the First time information stemming from Celsius customers has been broken. Celsius reported on an “unidentified source has contacted some Celsius customers via unofficial channels” in Apr 2021. Sources at the time said Celsius customers were being invited with phishing scams. The most recent news concerning the uranologist email leak follows the company’s bankruptcy registration once it “filed voluntary petitions for reorganization below Chapter 11 of the U.S. Bankruptcy Code within the U.S. Bankruptcy Court for the Southern District of York” on July 13.
The bankruptcy filing followed the company’s withdrawal and operations pause on June 12, at 10:10 p.m. (ET). At that point, uranologist proclaimed that it paused “all withdrawals, swaps, and transfers between accounts.” Because the bankruptcy proceedings are involved, uranologist shoppers have written letters to the court asking to urge their crypto assets back in a very faster manner than the normal Chapter eleven bankruptcy creditors’ method. One client, a mother of 2 daughters, affirmed that her family’s life was compact and an excellent deal.
“My family and I are severely impacted each in money and psychological state by the bankruptcy and bolted up cryptos. I continually check the app if my cryptos are still there. I can’t target my job or sleep,” the girl wrote in her letter to the bankruptcy court. Before Celsius went bankrupt, Celsius claimed that it had roughly 1.7 million customers. Another Celsius client aforesaid that he had but $1K in his Wells urban center checking account, and also the crypto lender’s bankruptcy hurt him an excellent deal financially. The client stressed:
“This is an EMERGENCY scenario, merely to stay a roof over my family and food on their table.”
One Celsius client Says He Still Has ‘Full Faith in Crypto’
The client and lots of different shoppers UN agency wrote letters to the bankruptcy court wishing the authorities to unharness the funds and disperse the crypto among retail shoppers. Besides the bankruptcy and also the customer’s letters, the crypto loaner additionally faces proceedings from a former associate mythical being Stone, the founding father of Keyfi.
While the client letters pleaded with the court to unharness funds, some uranologist investors noted that whereas the crypto loaner itself was unreliable, they still trust the crypto scheme. “I still have full faith in crypto, however I don’t have religion within the management of the Celsius with the present team,” another uranologist consumer wrote to the court.
Most of them square measure in all probability aware that awaiting soul distribution from a bankruptcy case are often long and cumbersome, and oftentimes are often poor. What is more, creditors even have to prove themselves with a document known as a “proof of claim.” Celsius has provided customers with info on wherever they will file a creditor’s claim.
The post Celsius Customers Beg Bankruptcy Court to Release Crypto, One client desires Funds to ‘Put Food on the Table first appeared on BTC Wires.
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Here Are Price Targets for Bitcoin, Solana, and Render, According to Analyst Jason Pizzino
Published
13 hours agoon
July 5, 2024By
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A closely followed crypto strategist and trader is revealing his price targets for Bitcoin (BTC) and two altcoin projects.
In a new strategy session, analyst Jason Pizzino tells his 329,000 YouTube subscribers that based on the average true range (ATR) indicator Bitcoin could soon break through key price target resistance levels.
The ATR indicator measures volatility by showing an asset’s trading range over a specified period.
“You can see the dying off here of the average true range of the bar. Previous cycles, look what happened. Average true range picks up, dies off, dies off, dies off, and then you start to get a higher low form and by that stage, you’re really a decent way from the stealth zone.”
![](https://dailyhodl.com/wp-content/uploads/2024/07/Jason1.jpg)
According to the analyst, Bitcoin has historically made “stealth moves” to the upside when the ATR indicator reaches a local low and price continues to consolidate or puts in higher lows.
The analyst’s key price targets to the upside include $63,300 on the daily chart, $65,200 on the weekly chart and $72,000 on the monthly chart.
Bitcoin is trading for $60,176 at time of writing, down nearly 3% in the last 24 hours.
Next up, the analyst believes that Ethereum (ETH) competitor Solana (SOL) will move toward its current cycle top.
“With the higher lows and now trying to push higher above the 50% at $137. Next target on the weekly chart is $165. And then we go towards $190, $210. So $190 is above these tops. Then $210 is the current top for Solana. So it’s on its way. It hasn’t got those longer-term time frames confirmed yet, and those longer terms are the weeklies.”
![](https://dailyhodl.com/wp-content/uploads/2024/07/jason2.jpg)
Solana is trading for $141 at time of writing, down more than 8% in the last 24 hours.
Lastly, the analyst predicts that Render (RNDR), the graphics processing unit (GPU) rendering blockchain, will reclaim a double-digit value.
“Now, what do we need to see until it gets there? Obviously higher lows, and that would happen throughout this next couple of months, maybe even up to four months as we get to that [US presidential] election… If I keep seeing higher lows, it’s not going to stop me from getting into the market if it breaks out through that period.”
![](https://dailyhodl.com/wp-content/uploads/2024/07/jason3.jpg)
Render is trading for $7.04 at time of writing, down 7.7% in the last 24 hours.
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Bitcoin
Bitcoin price plunges below $55k as Mt. Gox announces repayments
Published
13 hours agoon
July 5, 2024By
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The price of Bitcoin has continued its descending movement, sliding under the $55,000 threshold, returning back to levels last seen in February.
Bitcoin’s (BTC) sell-off has intensified amid reports that the collapsed crypto exchange Mt. Gox moved over 47,000 BTC (worth around $2.6 billion) to a new wallet ahead of its $9 billion payout. At the time of writing, the price of Bitcoin is $54,561, a mark last witnessed in February, when the largest by market capitalization cryptocurrency was surging to a new all-time high.
Following the transaction, Mt. Gox trustee officially confirmed on Jul. 5 during Friday’s Asian trading hours that the collapsed exchange “made repayments in Bitcoin and Bitcoin Cash to some of the rehabilitation creditors.” The trustee didn’t specify though the amount of BTCs sent to creditors.
The crypto market has faced significant pressure recently, affecting both investor sentiment and miner operations following the April halving, which reduced mining rewards from 6.25 BTC to 3.125 BTC. At Bitcoin’s current price, only five ASIC rigs from Avalon and Antminer remain profitable, according to f2pool’s X post.
⛏️With #Bitcoin trading below $58k, what is the current profitability for mining?
At a rate of $0.08/kWh, ASICs less efficient than 23 W/T operate at a loss.
For more details on mainstream miners, please refer to the table below. pic.twitter.com/hJS1lsVnmK
— f2pool 🐟 (@f2pool_official) July 4, 2024
The rapid drop below $55,000 has pressured speculators, resulting in $682 million in liquidations of both long and short positions across multiple exchanges, according to Coinglass.
![Bitcoin price plunges below $55k as Mt. Gox announces repayments - 1](https://crypto.news/app/uploads/2024/07/hisudhfds.png)
Over the past 24 hours, more than 235,000 traders were liquidated, with the largest single liquidation order on Binance’s ETH/USDT trading pair valued at over $18.4 million. According to CoinGecko, the total crypto market capitalization dropped by over 8% to $2 trillion, increasing sell-offs among speculators.
As crypto.news reported earlier, TRON founder Justin Sun offered to help the industry by teasing his “willingness” to buy confiscated Bitcoins from the German government over-the-counter. It’s unclear when these negotiations will begin, but with the recent movement of Bitcoins to centralized exchanges from Germany-labeled addresses, Mt. Gox’s repayments have seemingly become the primary concern among traders.
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Bitcoin
Bitcoin’s quick dip below $57k forces beginners to capitulate, CryptoQuant says
Published
19 hours agoon
July 5, 2024By
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As Bitcoin plunged below the $57,000 mark, concerns surged among investors about potential market volatility and its impact on miners.
On Thursday morning, speculators continued their selling pressure, forcing Bitcoin (BTC) to dip below $57,000 for the first time since February. As of press time, Bitcoin rebounded above the $57,000 mark, but its previous quick plunge might signal weakness, potentially impacting sentiment among retail traders.
![Bitcoin's quick dip below $57k forces beginners to capitulate, CryptoQuant says - 1](https://crypto.news/app/uploads/2024/07/gsidyfhsd-1024x600.png)
Blockchain research firm CryptoQuant noted that crypto beginners — who bought BTC over the past six to three months — have started moving their coins amid the plunge and “increasing selling pressure.” According to the platform’s data, approximately $2.4 billion worth of BTC controlled by crypto beginners began moving, likely signaling their intention to sell at current market prices.
The market turbulence might also be worsened by miners, who are facing a rapid drop in hashprice, a metric representing miner revenue per terahash. Crypto mining analytics firm Hashrate Index noted that the hashprice mark amid Bitcoin’s plunge is “scratching its all-time low,” a level last seen during the bear market. As of press time, hashprice is at $44.69, potentially pushing some miners to liquidate their reserves to sustain operational expenses.
In a May exclusive interview with crypto.news, CryptoQuant head of research Julio Moreno noted that the market is “likely to see a miner capitulation if prices don’t recover significantly during the summer,” adding that the hashprice (average miner revenue per hash) is repeatedly “making new lows” following the latest halving. At the time of writing, Bitcoin is trading at $57,336, according to data from crypto.news.
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