NFT News Today Official TheBitTimes.com

On July 13, the crypto -verse experienced a multitude of significant events. While this day marked an important day for the XRP community, it brought less joy to Celsius Network. The crypto lending platform, along with its former CEO Alex Mashinsky , faced a series of fraud allegations from the Securities and Exchange Commission [SEC]. Nevertheless, Mashinsky chose to enter a plea of not guilty in response to these charges. The former CEO of the crypto lending platform confronted a series of seven criminal charges, involving counts such as securities fraud, commodities fraud, and wire fraud. These allegations were outlined in an unveiled indictment that became public knowledge on Thursday. Shortly after this announcement, news of his arrest emerged. Mashinsky appeared at his arraignment in a federal court located in Manhattan. US lawyer Damian Williams said in a recent press conference, “Whether it’s old-school fraud or some new-school crypto scheme, it doesn’t matter one bit. It...

The bankrupt crypto lender wants its huge stash of staked Ether back, but it could be in for a wait. Bankrupt crypto lending firm Celsius is anxious to get its staked Ether (ETH) stash back from liquid staking platform Lido which enabled withdrawal s this week. Celsius initiated the process of withdrawing its Lido Staked ETH (stETH) from the protocol. According to transaction data it has requested the withdrawal of 428,840 stETH in batches of 1,000. The stash is valued at approximately $784.7 million at current prices. The move follows a transaction of a similar amount of stETH on May 15 in preparation for withdrawal . Once the withdrawal process is complete, Celsius will receive the equivalent in Ethereum and the stETH tokens will be burnt by Lido. According to Dune Analytics, the cumulative amount of stETH in the withdrawal queue is 442,000 from 141 requests. It is valued at around $808 million though Celsius is responsible for the majority of it. The total amount already processe...