Bankrupt Crypto Lender Celsius Gets Court Approval for Extension To File Restructuring Plan
Cryptocurrency lender Celsius Network has received approval from the bankruptcy court of the Southern District of New York to extend the deadline to submit a restructuring plan, according to a tweet by Celsius on Tuesday.
Gemini Forms Ad Hoc Committee With Creditors Amid Earn Freeze
Gemini formed an ad hoc committee with other creditors to coordinate and advocate for a resolution to the crypto exchange's struggling Earn product — which paused customer redemptions on Nov. 16.
African Bitcoin Mining Firm Gridless Raises $2 Million in Funding Round Led by Stillmark, Block Inc.
Gridless, a bitcoin mining company that is focused on rural communities in East Africa, has raised $2 million in a seed investment round led by Stillmark and Block, Inc., according to a press release sent to Bitcoin Magazine. This comes in addition to an angel round led by Factor[e].
Crypto Twitter Uses New AI Chatbot To Make Trading Bots, Blogs and Even Songs
The crypto community appears to be having a ball with ChatGPT, a recently launched Artificial Intelligence (AI) chatbot created by research company OpenAI — using it for a multitude of applications including a trading bot, a crypto blog, and even an original song.
Majority of ‘Wealthy’ South Koreans Say no Plan to Invest in Crypto, Cite Lack of Trust
The majority (58.3%) of South Koreans with assets of at least 1 billion Korean won (US$760,000) said they don’t plan to invest in cryptocurrencies, with most expressing distrust of digital currency exchanges, according to a survey by a think tank in South Korea’s KB Financial Group Inc. (forkast)
Rumours of a New Native 'Twitter Coin' Emerge While Dogecoiners Remain Hopeful
Social media users are swirling around rumours that Twitter is looking at introducing its own native asset called “Twitter Coin” to be used for payments and tipping on the platform. On Dec. 4, he posted a screenshot of what appears to be a prototype Twitter interface showing a “Coins” option for tipping, along with a vector image showing a coin bearing Twitter’s logo. (Cointelegraph)
DeFi Risk-Sharing Protocol Nexus Expects Loss on Maple Credit Pool Investment as FTX Contagion Widens
Insurance alternative Nexus Mutual is expecting to take a loss on its investment in a credit pool on Maple Finance, a large decentralized lending platform, according to a statement released Monday. Nexus warned about a potential loss of 2,461 ether (ETH), some $3 million, from Orthogonal Trading’s recent default and said it started to withdraw all funds from the affected wrapped ether credit pool. This represents 1.6% of Nexus' assets, according to the statement. (Coindesk)
US Consumer Watchdog Probes Crypto Firms over Deceptive Ads
Several crypto firms are facing a probe from the United States Federal Trade Commission (FTC) over possible deceptive or misleading advertisements relating to cryptocurrencies. According to a Dec. 6 report from Bloomberg, FTC spokeswoman Juliana Gruenwald said the watchdog is investigating “several firms for possible misconduct concerning digital assets.” ( Cointelegraph)
Markets: Bitcoin, Crypto Top 10 Retreat with Equities on Signs of Inflation Uptick in U.S.
Bitcoin dipped below US$17,000 in Tuesday morning trading in Asia, as Ether and most other top 10 non-stablecoin cryptocurrencies lost ground. The retreat came as another U.S. indicator suggested inflation remains a risk to the economy. Litecoin bucked the trend, continuing to benefit from a tie-up with MoneyGram International Inc. (forkast)
Ripple CTO Shuts Down XRP Conspiracy Theory from ChatGPT
Ripple’s chief technology officer has responded to a conspiracy theory fabricated by Artificial Intelligence (AI) tool ChatGPT, which alleges the XRP Ledger (XRPL) is somehow being secretly controlled by Ripple. According to a Dec. 3 Twitter thread by user Stefan Huber, when asked a series of questions regarding the decentralization of Ripple’s XRP Ledger, the ChatGPT bot suggested that while people could participate in the governance of the blockchain, Ripple has the “ultimate control” of XRPL. (Cointelegraph)
