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0.00000195 BTC
Market Cap (Rank#101)
18,881 BTC
Vol 24h
1,004 BTC
Circulating Supply
Max Supply
15h agocoindesk
Canadian Pension Giant Caisse Writes Off $150M Bet on Bankrupt Crypto Lender Celsius
Quebec-based Caisse said Wednesday it had acted "too soon" in entering the sector.
1 day agocryptodaily
Celsius CEO Was Controlling Trades Leading Up To Bankruptcy
A report has claimed that Alex Mashinsky had taken over control of trading strategies at Celsius in the months leading up to the firm’s widely publicized insolvency issues and eventual collapse. The firm filed for Chapter 11 bankruptcy in July. Personally Directing Crypto Trades Sources familiar with Celsius and the events surrounding its collapse have stated that CEO Alex Mashinsky was “slugging around huge amounts of Bitcoin” and ordering trades based on incomplete or insufficient information. Mashinsky had taken control of the trading strategy amidst rumors that the United States Federal Reserve was planning on hiking interest rates. The report states that Mashinsky was personally directing trades and overruling financial experts as he looked to protect Celsius from declining crypto markets. The CEO also ordered the selling off of millions of dollars worth of Bitcoin at one point, only to re-purchase the coins at a loss 24 hours later. Repeated Clashes The report also shed light on the effects of Mashinky’s reckless strategy, which significantly impacted the CEO’s professional relationship with Frank van Etten, the chief investment officer at Celsius. The report claimed that Mashinsky repeatedly clashed with Etten over the trading strategies employed by the former. According to an individual close to the matter, the CEO was convinced that the market could go south in a big way and wanted the company’s staff to begin cutting risks in any way possible before the Fed meeting. Looming Rate Hikes At the time, several reports were suggesting that the Federal Reserve was mulling implementing rate hikes in January. However, there was no confirmation on this by the central bank until March. Following the announcement, there was some volatility in the market. The market crash did not occur for two months when BTC fell below the $30,000 level in May and below $20,000 a month later. Conflicting Versions There are conflicting versions about the events at Celsius and CEO Mashinky’s role in them. Some versions seem to suggest that the CEO was not running the trading desk or taking a heavy hand on trades but was simply expressing his opinion on the prevailing market conditions to influence trading strategy. However, other versions seem to suggest that the CEO was moving around significant amounts of Bitcoin and trading based on bad information. He had also reportedly blocked sales of investment vehicles linked to cryptocurrencies, such as shares of Grayscale’s Bitcoin Trust, with news outlets reporting that there was a deal aimed at cutting Celsius’ losses on the Bitcoin trust. However, the CEO refused the deal and then had to sell them at a loss of around $100 million in April. The Fall Of Celsius Celsius eventually filed for Chapter 11 bankruptcy in July after it had closed debts owed to Aave, Compound, and Maker, with the platform on track to run out of money by October. Reports have claimed that Celsius’ debts are closer to $2.8 billion against its bankruptcy claim of a $1.2 billion deficit. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
1 day agocointelegraph
For greater good: NY judge allows Celsius to mine, sell Bitcoin
Chief bankruptcy judge Martin Glenn, Southern District of New York, approved Celsius’ request for running BTC mining and selling operations as a means to reinstate financial stability.
1 day agocryptosrus
Celsius Says They Have Multiple ‘Offers’
Celsius apparently has some offers to refinance their crypto savings and lending business. Clock is ticking though, as they are set to run out of money soon… Covered: Celsius Refinance Options Future Prospects For Celsius Celsius Refinance Options A lawyer for the bankrupt Celsius Network says that the Alex Mashinsky-led company has recieved multiple restructuring […] The post Celsius Says They Have Multiple ‘Offers’ appeared first on CryptosRus.
1 day agocointelegraph
Celsius CEO personally directed crypto trades months before bankruptcy: Report
One person familiar with events at Celsius reportedly said CEO Alex Mashinsky was “slugging around huge chunks of Bitcoin” and ordering trades based on bad information.
2 days agocointelegraph
Court filings reveal Celsius will run out of money by October
Celsius Network has been heading down a slippery slope since it filed for bankruptcy in July.
2 days agocoindesk
Crypto Lender Celsius On Pace to Run Out of Cash by October
The bankrupt crypto firm is also short of $2.8 billion in crypto assets, the court filing reveals.
2 days agocoindesk
Crypto Exchange Coinify Obtains Regulatory Approval to Operate in Italy
The now-bankrupt crypto lender Voyager Digital acquired the exchange for $84 million in stocks and cash last August.
2 days agocryptodaily
Crypto Daily - Crypto And Financial News 15/08/2022, Monero Forks Successfully
In Todays Headline TV CryptoDaily News: One of the several lawsuits against Robinhood. A U.S. judge permitted meme stock investors to file a lawsuit against Robinhood, a stock trading firm that recently listed multiple cryptocurrencies, including Avalanche and Stellar. This lawsuit is one of the several suits the firm is facing after halting purchases during the meme stock rally in January last year. Ripple Labs is interested in bankrupt Crypto lender Celsius' assets. Ripple Labs Inc, which is embroiled in a high-profile battle with the US securities regulator, is interested in potentially purchasing assets of bankrupt crypto lender Celsius Network. Monero’s privacy-focused crypto protocol upgrade is now live. The non-contentious hard fork to upgrade one of crypto’s most popular privacy protocols, Monero, was successfully completed today. The fork enhances the network with a host of new privacy-preserving features. BTC/USD fell 0.7% in the last session. The Bitcoin-Dollar pair fell 0.7% in the last session. The Stochastic-RSI indicates an overbought market. Support is at 23964.3333 and resistance at 25110.3333. The Stochastic-RSI is signaling an overbought market. ETH/USD plummeted 3.2% in the last session. The Ethereum-Dollar pair dove 3.2% in the last session. According to the CCI, we are in an overbought market. Support is at 1910.6667 and resistance at 2055.4467. The CCI points to an overbought market. XRP/USD dropped 0.3% in the last session. The Ripple-Dollar pair fell 0.3% in the last session after gaining as much as 3.7% during the session. The ROC is giving a positive signal. Support is at 0.3694 and resistance at 0.3917. The ROC is currently in positive territory. The last session saw LTC fall 0.9% against USD. The Litecoin-Dollar pair dropped 0.9% in the last session after rising as much as 3.1% during the session. The Stochastic-RSI is giving a positive signal. Support is at 61.061 and resistance at 66.981. The Stochastic-RSI is giving a positive signal. Daily Economic Calendar: US NAHB Housing Market Index The NAHB Housing Market Index presents home sales and expected buildings in the future indicating housing market trends. The US NAHB Housing Market Index will be released at 14:00 GMT, the US 3-Month Bill Auction at 15:30 GMT, Finland's Consumer Price Index at 05:00 GMT. US 3-Month Bill Auction Treasury bills are short-term securities maturing in one year or less. The yield on the bills represents the return an investor will receive by holding the bond until maturity. FI Consumer Price Index The Consumer Price Index measures price movements by comparing the retail prices of a representative shopping basket of goods and services. DE Wholesale Price Index The Wholesale Price Index shows the value of sales made by wholesalers, which is related to retail trade and consumption. Germany's Wholesale Price Index will be released at 06:00 GMT, Japan's Industrial Production at 04:30 GMT, Japan's Capacity Utilization at 04:30 GMT. JP Industrial Production Industry is a basic category of business activity. Changes in the volume of the physical output of the nation's factories, mines, and utilities are measured by the index of industrial production. JP Capacity Utilization The Capacity Utilization is the percentage of production capacity used over a short period. It is indicative of overall growth and demand. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
3 days agocryptodaily
CFTC Charges Ohio Man of Operating $12 Million Ponzi Scheme
The United States Commodities Futures and Trading Commission (CFTC) has charged an Ohio resident for allegedly operating a $12 million Ponzi scheme that also involved Bitcoin. The cease-and-desist order has been filed against Rathnakishore Giri and his two companies: SR Private Equity LLC and NBD Eidetic Capital LLC in the Southern District of Ohio. The order also asks the court to force Giri to pay back his so-called investors. According to CFTC Commissioner Kristin N. Johnson, the accused is being charged with creating and perpetuation a scheme designed to fool investors interested in digital assets. Through his business Giri allegedly told customers that he would re-invest their funds and make them returns. According to the CFTC, this was all a lie. In a statement published on Friday, August 12, Johnson said: Under the guise that he operated a private equity investment fund with a focus on investing in digital assets, Giri seized upon the contemporary fervor for digital asset investment opportunities and lured unwitting investors to contribute over $12 million in cash and bitcoins to his funds with the promise of exceptional returns without the risk of financial loss. According to the CFTC, Giri violated commodities laws and regulations that forbid the manipulation of information and “deceptive devices.” Johnson stated that: Giri simply pocketed customers’ money, using their invested funds to bankroll his lavish lifestyle—characterized by use of private jets, yacht rentals, an extravagant vacation home, a luxury car, and expensive clothing. Beyond ordering Giri to cease all activities related to the fraud, the CFT wants him to hand over any monetary benefits “directly or indirectly” attached to the violation of regulations, including salaries, commissions, fees, loans, revenues, and trading profits. Johnson said in her statement that although the CFTC “rigorously surveys markets and enforces regulation,” new financial products such as digital assets “create new challenges,” adding: This case illustrates these dangers, underscores the ever-present threats, and demonstrates that – no matter the asset class – effective enforcement and customer protections must be among our highest priorities. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
3 days agocryptodaily
Mark Cuban Sued for Promoting Voyager Crypto Products
Billionaire entrepreneur Mark Cuban is facing a class action lawsuit for his role in promoting Voyager Digital’s cryptocurrency products. The suit alleges that Cuban misrepresented the crypto offering and services by Voyager and used his experience to lure customers into investing in the brokerage firm. The Moskowitz Law Firm has filed a civil lawsuit in the U.S. District Court in Southern Florida against the billionaire for promoting the firm’s unregulated crypto products. The lawsuit is also filed against Voyager Digital CEO Steven Ehrlich. There are 12 lead plaintiffs in the case “Mark Cassidy v. Voyager Digital Ltd., et al.” filed in December 2021, and they claim that Voyager was “a massive Ponzi scheme” and Cuban “dupped millions of American into investing.” The plaintiffs also allege that: Cuban and Ehrlich, went to great lengths to use their experience as investors to dupe millions of Americans into investing — in many cases, their life savings — into the Deceptive Voyager Platform and purchasing Voyager Earn Program Accounts (‘EPAs’), which are unregistered securities. The lawsuit adds: As a result, over 3.5 million Americans have now all but lost over 5 billion dollars in cryptocurrency assets. This action seeks to hold Ehrlich, Cuban, and his Dallas Mavericks responsible for paying them back. Cuban allegedly went on record calling the Voyager platform “as close to risk-free as you’re gonna get in crypto.” The lawsuit further states that: Voyager Platform relied on Cuban’s and the Dallas Maverick’s vocal support and Cuban’s monetary investment in order to continue to sustain itself until its implosion and Voyager’s subsequent bankruptcy. Voyager halted trading activity and withdrawals early in July and then filed for Chapter 11 bankruptcy later that month. The crypto lending firm was one of many lenders to Three Arrows Capital. As it stands, over 3.5 million American customers have almost 5 billion dollars in crypto assets on the platform. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
3 days agocryptodaily
Crypto Weekly Roundup: BlackRock Launches Bitcoin Trust, Eth’s Goerli Testnet Live, Curve Hack, And More
The week has been momentous as Ethereum finally completed its final testnet before going live with the PoS system on its mainnet. The developer team has also set a soft launch date for the mainnet merge. Therefore we might be getting the upgrade sooner than expected. Let’s dig deeper. Bitcoin The investment management company, BlackRock, has launched a private trust, which will be its first product offering direct Bitcoin exposure. President Nayib Bukele has been gushing about the positive effects of El Salvador’s Bitcoin policies on its tourism industry. Ethereum Ethereum has completed the final scheduled test before The Merge, moving it closer to adopting the Proof-of-Stake model. Ethereum developers have agreed to a tentative date for the mainnet merge, which could be sooner than expected. DeFi Curve Finance reported that an exploit on the site’s nameserver and front end resulted in a loss of over $573,000. The co-founder of MakerDAO has expressed that he plans to sell $3.5 billion worth of USDC for ETH, which puts the DAI token at the risk of losing its dollar peg. Altcoins Crypto solutions company Ripple has just published a new report on crypto trends in business, highlighting the blockchain-driven Internet of Value. Technology According to a report, up to a third of stolen crypto funds (over $50 million) are being used to fund the North Korean missile program. Days after the U.S. government announced sanctions against crypto mixing platform Tornado Cash, Ethereum co-founder Vitalik Buterin defended the platform's use case for legitimate contexts. Business The parent company behind the Ripple network has expressed interest in purchasing assets belonging to the bankrupt Celsius Network. Reddit has partnered with FTX to enhance the user experience on the Community Points project for over 400 million monthly active users. Hodlnaut has become the latest crypto lending platform to halt withdrawals, token swaps, and deposits, citing difficult market conditions. Regulation Newsletter and email marketing firm Mailchimp has suspended the accounts of several crypto platforms this week. An anonymous user has been sending small amounts of Ethereum via Tornado Cash to hundreds of public wallets in the U.S., including popular celebrities. has secured access to the South Korean crypto market after acquiring two local companies providing it with EFTA and VASP registration in the country. NFT After welcoming USDT into its fold, the blazing fast, energy-friendly Tezos blockchain network is enjoying rapid traction in both the NFT and the DeFi spaces. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
5 days agocointelegraph
Celsius Network is bankrupt, so why is CEL price up 4,000% in two months?
Takeover rumors and an ongoing short squeeze help CEL price rally but is there enough momentum for more upside?
6 days agocryptodaily
Ripple Labs Wants To Buy Celsius Assets
The parent company behind the Ripple network has expressed interest in purchasing assets belonging to the bankrupt Celsius Network. Ripple Looking For M&A Opportunities A Ripple Labs spokesperson has expressed that the company is considering buying certain assets of the bankrupt crypto lender. However, when asked if Ripple was interested in acquiring Celsius outright, the spokesperson declined to comment. The representative stated, "We are interested in learning about Celsius and its assets, and whether any could be relevant to our business.” They have also mentioned that the payment services company is actively looking for strategic mergers and acquisitions opportunities to scale the company. Celsius’ Legal Troubles The Celsius Network has been in a lot of hot water recently, with its CEO Alex Mashinsky drawing in the most criticism. Mashinsky had continued to reassure Celsius customers that everything was okay, even on the brink of bankruptcy. He is also under investigation by a creditor committee set up by the U.S. Trustee department. The lending platform was one of the casualties of the Terra LUNA implosion and had to declare bankruptcy in July after a month of freezing withdrawals. On the other hand, Ripple Labs has been faring quite well, despite the SEC lawsuit and the bear market, primarily due to its focus on working with international clients and developing global payment networks. Ripple Interested In Celsius Case Ripple’s legal representatives applied to the bankruptcy court to be represented in the proceedings of the Celsius case, despite not being one of the lending platform’s major creditors. The filings were approved by the court earlier this week. The above comment was made in response to inquiries about the court filings. The representative declined to elaborate further on the matter. The bankruptcy filings reveal that Celsius’ assets include digital assets held in custody accounts, loans, a bitcoin mining operation, the platform’s own CEL token, and liquid cash and crypto that the company holds at the moment. Since Ripple Labs has not signed any major deals till now, it should be interesting to see if this interest in the Celsius case actually amounts to something tangible. Ripple’s Legal Troubles Ripple has been going through its own legal issues since 2020 when the Securities and Exchanges Commission sued the crypto payments provider for allegedly operating unregistered securities. The Ripple team has denied these allegations, claiming that XRP is solely traded as a digital currency and not a security. The public consensus is that the lawsuit will settle in Ripple’s favor as the case presented by the SEC is flimsy at best. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
6 days agocryptopotato
Ankr Receives a Strategic Investment from Binance Labs
Binance Labs revealed a strategic investment in popular Web3 infrastructure provider Ankr Protocol.
6 days agocryptodaily
Crypto Daily - Crypto And Financial News 11/08/2022 Ripple Buying Celsius?
In Todays Headline TV CryptoDaily News: BitPay partners Cardlytics for cash back rewards. BitPay, the world’s largest provider of Bitcoin and cryptocurrency payment services, added a reward program to its BitPay Prepaid Card. Cardlytics, a cash-back rewards platform, is managing the rewards where the BitPay cardholder automatically receives cash back on purchases. Hackers have stolen $1.4 billion this year using crypto bridges. Crypto bridges, which link blockchain networks together, have become major targets for cybercriminals. A total of around $1.4 billion has been lost to breaches on cross-chain bridges this year, according to figures from blockchain analytics firm Chainalysis. Ripple Labs 'interested' in bankrupt crypto lender Celsius' assets. San Francisco-based blockchain payments company Ripple Labs Inc is interested in potentially purchasing assets of bankrupt crypto lender Celsius Network, according to a company spokesperson. BTC/USD exploded 2.9% in the last session. The Bitcoin-Dollar pair exploded 2.9% in the last session. The Stochastic indicator is giving a negative signal. Support is at 22289.6667 and resistance at 24337.6667. The Stochastic indicator is giving a negative signal. ETH/USD skyrocketed 7.5% in the last session. The Ethereum-Dollar pair skyrocketed 7.5% in the last session. According to the CCI, we are in an overbought market. Support is at 1599.2733 and resistance at 1841.3733. The CCI points to an overbought market. XRP/USD skyrocketed 2.6% in the last session. The Ripple-Dollar pair skyrocketed 2.6% in the last session. The MACD is giving a negative signal. Support is at 0.3499 and resistance at 0.3887. The MACD is currently in negative territory. LTC/USD skyrocketed 4.3% in the last session. The Litecoin-Dollar pair gained 4.3% in the last session after rising as much as 5.2% during the session. The Stochastic-RSI is giving a negative signal. Support is at 55.5833 and resistance at 64.6433. The Stochastic-RSI is currently in negative territory. Daily Economic Calendar: IE Consumer Price Index The Consumer Price Index is a measure of price movements made by comparing the retail prices of a representative shopping basket of goods and services. The Irish Consumer Price Index will be released at 10:00 GMT, Japan's Foreign Investment in Japan Stocks at 23:50 GMT, the US Continuing Jobless Claims at 12:30 GMT. JP Foreign Investment in Japanese Stocks Securities investment referrers to bonds issued in a domestic market by a foreign entity in the domestic market’s currency. US Continuing Jobless Claims The Counting Jobless Claims measure the number of individuals who are unemployed and are currently receiving unemployment benefits. JP Foreign Bond Investment The Foreign Bond Investment refers to bonds issued in a domestic market by a foreign entity in the domestic market’s currency. Japan's Foreign Bond Investment will be released at 23:50 GMT, the US Initial Jobless Claims at 12:30 GMT, the Irish HICP at 10:00 GMT. US Initial Jobless Claims The Initial Jobless Claims is a measure of the number of people filing first-time claims for state unemployment insurance. IE HICP The HICP is a measure of price movements or inflation harmonized across EU Member States. It is similar to the national Consumer Price Indices (CPI). Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
7 days agocryptodaily
German Crypto Bank Nuri Files for Insolvency
Nuri, a cryptocurrency-focused digital banking platform announced it has filed for insolvency in Germany on Tuesday, citing the prolonged crypto winter. The company has assured that customers' access to the platform’s services and their funds have not been affected. The 2022 bear market has claimed yet another victim. On August 9, the German crypto exchange Nuri filed for insolvency before a Berlin court citing the prolonged bearish cycle the crypto market has undergone since the beginning of the year, saying the move was “necessary to ensure the safest path forward for all our customers.” Although insolvency often leads to bankruptcy, according to Reuters, unlike other crypto firms to have declared insolvency this year, Nuri has not halted customer withdrawals to their euro accounts and crypto wallets. Users are still able to move their funds. The company was forced to make this decision following unsuccessful attempts to secure a new funding round. The company said in a statement, All funds in your Nuri accounts are safe due to our partnership with Solarisbank AG. The temporary insolvency proceedings do not affect your deposits, cryptocurrency funds, and Nuri Pot investments which have been done with us. Nuri, formerly known as Bitwala, has been operating since 2015, offering users the convenience of a regular bank account combined with Bitcoin and Ethereum wallets. The platform also offers saving plans via recurring Bitcoin purchases, as well as its recently launched Nuri Pots, a collection of different exchange-traded funds and other investment products. Explaining the reasoning behind the decision to file for insolvency, Nuri said it has been facing a “lasting strain” on its business liquidity in 2022 due to “significant macroeconomic headwinds” including the COVID pandemic and Russia’s invasion of Ukraine along with “the cooling down of public and private capital markets.” The company said, Additionally, various negative developments in the crypto markets earlier this year, including major cryptocurrency sell-offs, the implosion of the Luna/Terra protocol, the insolvency of Celsius and other major Crypto funds have led to a crypto bear market. The insolvency filing comes just two months after CEO Kristina Walcker-Mayer, announced the company was letting go of 20% of its employees “to shift our strategic plans towards earlier profitability to adapt to the new reality in the financial markets.” “All Funds Are Safe” On the FAQ page regarding the insolvency, Nuri said it will work out the next steps in the process with the help of an insolvency administrator, but stressed that “all funds are safe.” The company said that assets in crypto wallets and vaults remain available and may be withdrawn and traded at any time, indicating that it “does not have access to the coins and/or the private keys in users’ vaults.” Nuri also made it clear that custodial wallets are operated by Solaris Digital Assets GmbH (SDA), meaning that it does not handle customers’ crypto funds and fiat. The platform’s mobile application remains available allowing users access to their bank accounts via the app. Nuri users are however still unavailable to withdraw funds from their Bitcoin interest accounts as they were launched in partnership with the now-defunct cryptocurrency lending platform Celsius. The platform says, The Celsius withdrawal freeze remains unchanged, and the withdrawal function remains inactive. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
7 days agocoindesk
Ripple Labs Weighs Buying Crypto Lender Celsius’ Assets: Report
Key XRP backer Ripple Labs says it is interested in purchasing the assets of bankrupt crypto lender Celsius Network.
7 days agocryptosrus
Voyager Digital reportedly had deep ties with SBF-owned Alameda Research
Covered: Voyager Digital And Alameda Voyager Digital And Alameda Voyager Digital, the crypto lending firm that went bust due to the crypto contagion initiated by Three Arrow Capital’s (3AC) insolvency is currently fighting its bankruptcy court battle. The court proceedings and financial documents have shown a deep relation between the crypto lending firm and Sam […] The post Voyager Digital reportedly had deep ties with SBF-owned Alameda Research appeared first on CryptosRus.
8 days agocryptopotato
Ankr Launches ANKR Token Staking on its Infrastructure Layer
Ankr Network has launched token staking on its infrastructure level.
8 days agocryptodaily
Celsius CEO Under Investigation By Creditor Committee
The Celsius creditor committee has stated that it will be investigating the conduct of CEO Alex Mashinsky and other insiders. Committee To Investigate Celsius Debacle On July 27, the U.S. Trustee appointed the Official Committee of Unsecured Creditors for the bankrupt crypto lender Celsius Network. In its first official statement released on Monday, the committee revealed its intentions to conduct in-depth investigations into CEO Alex Mashinsky and other Celsius insiders on the grounds of problematic asset deployment decisions, prepetition transfers, and other issues. The seven individuals and institutional representatives who constitute the committee are Caroline G. Warren, Thomas DiFiore, ICB Solutions, Christopher Coco, Andrew Yoon, Mark Robinson, and Covario AG. They all hold digital assets in the Celsius platform and are highly motivated to maximize recoveries for all account holders and unsecured creditors. Celsius CEO’s Suspicious Behavior Mashinsky has been under a lot of fire for not being upfront about the conditions of the Celsius platform. However, as pointed out by the committee statement, he had continued to reassure customers about the stability of the Celsius platform even at the brink of bankruptcy. In fact, days before announcing bankruptcy, Mashinsky had claimed that the platform was successfully processing withdrawals, as it had more than sufficient reserves to support its operations. He also reassured the customers that all funds were well-protected on the platform under robust risk management frameworks. Barely a week later, Celsius paused all withdrawals, claiming a lack of liquidity. A month later, the company filed for bankruptcy. Committee Objectives In its statement, the committee declared that it had five main objectives, including the investigation of Celsius. It stated, “The Committee intends to thoroughly investigate the prepetition conduct of Mashinsky and other Celsius insiders, including the problematic asset deployment decisions, prepetition transfers, and other issues. The Committee has already started this investigation and will work to ensure causes of action against Mashinsky and others are preserved and prosecuted for the benefit of the Debtors’ estate and the Committee’s constituents.” Its other objectives include safeguarding account holders’ funds, overseeing the development of a viable business plan to preserve cash reserves, exploring strategic options to reorganize or sell the business, and establishing a clear line of communication with stakeholders. The committee has also set up a Twitter account to update the community on regular basis and will be engaging Kroll Inc. as its independent information agent. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
9 days agocoindesk
Bankrupt Lender Celsius’ Token Surges on Twitter-Driven Short Squeeze
The CEL token has gained about 300% since Celsius filed for bankruptcy last month.
9 days agocryptodaily
Embattled Crypto Exchange Zipmex Set To Release Bitcoin and Ethereum for Customers
Cryptocurrency exchange Zipmex will soon release Bitcoin and Ethereum tokens this week, allowing customers to retrieve their assets after it suspended withdrawals from its Z Wallet product. The move will allow 60% of its customers to retrieve their digital assets. The Singapore-based crypto exchange, which also operates in Australia, Thailand, and Indonesia, halted customer withdrawals from its Z Wallet in July amid the market turmoil citing “volatile market conditions” as reasons for doing so. It has been reported that Zipmex is facing a loss of $100 million in funds lent to crypto lender Babel Finance. Babel froze withdrawals in mid-June as volatile conditions in the crypto market led to a flurry of defaults relating to overleveraged firms such as Three Arrows Capital and Celsius Network. The company said in a Tweet that Ethereum will be released on Thursday, 11 August, and Bitcoin on August 16: Zipmex is planning to release a specific amount of ETH and BTC on 11 and 16 August respectively. We’re working hard to release the balance of Z Wallet holdings ASAP. Last week, Zipmex released Cardano (ADA), Ripple (XRP), and Solana (SOL) tokens to users’ wallets. The process started on Tuesday, August 2 with SOL, followed by XRP on Thursday, and finally ADA on Sunday. Zipmex is just one of the several cryptocurrency firms hit by the $2 trillion meltdown in the market that forced many players to halt withdrawals and some to file for bankruptcy. The firm did however announce late last month that it was in talks with investors for potential funding. Shortly after Zipmex suspended its withdrawals, the Thai Securities and Exchange Commission (SEC) launched a hotline for Zipmex customers to submit details on their losses. The SEC also launched an investigation into the exchanges, claiming the company may have violated trading rules by suspending withdrawals. It said that the firms cited inadequate reasons for such actions as “market fluctuations.” Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
12 days agocoindesk
Crypto Lender Voyager Digital to Reopen Cash Withdrawals Next Week
The bankrupt lender had received court approval to return $270 million to its customers.

About Ankr

The live price of Ankr (ANKR) today is 0.045923 USD, and with the current circulating supply of Ankr at 9,662,899,377.79 ANKR, its market capitalization stands at 443,749,521 USD. In the last 24 hours ANKR price has moved -0.005009 USD or -0.10% while 32,426,090 USD worth of ANKR has been traded on various exchanges. The current valuation of ANKR puts it at #101 in cryptocurrency rankings based on market capitalization.

Learn more about the Ankr blockchain network and how it works or follow the price of its native cryptocurrency ANKR and the broader market with our unique COIN360 cryptocurrency heatmap.

Founded in 2017 by UC Berkeley graduates Chandler Song and Ryan Fang, Ankr Network is a decentralized Web 3.0 infrastructure provider for an array of blockchains. Ankr aims to streamline interaction with blockchain for builders, DApps and retail users. 

The Ankr network’s mainnet was launched in 2019 as a decentralized cloud computing platform. With more than $18 million raised back in the ICO era, Ankr was building a decentralized version of centralized cloud services like AWS or Azure.

Ankr later pivoted its business model in response to the rising popularity of PoS blockchains and cross-chain solutions. The project reinvented itself as a SaaS multi-chain infrastructure provider for B2B and B2C markets. 

Ankr’s suite of tools for Web 3.0 developers features node infrastructure and custom enterprise services. Ankr also offers APIs and RPCs on a subscription basis to simplify DApp creation for Web 3.0 companies. For DeFi users, Ankr built a liquid staking platform similar to that of LidoDAO for Ethereum 2.0 and other proof-of-stake (PoS) blockchains. 

ANKR price

According to our ANKR USD live price chart, ANKR price was range-bound between $3 to just over $6 in between April 2019 and March 2021. The price of ANKR saw a major rally in February 2021 when it surged from $0.0108 on February 1 to a local high of $0.0811 on March 13. 

ANKR price then saw another sharp price increase, climbing to a new all-time high of $0.216 by March 28. The token gained more than 100% from its previous peak just two weeks earlier before paring some of the gains.

The price of ANKR rallied again in November 2021, touching the $0.21 level, just under the previous ATH, but failed to sustain the upward momentum.

Since then, however, ANKR has been in a downtrend, along with the broader crypto market, and traded under $0.03 in Q2 2022.

How ANKR works

ANKR is the utility token of the Ankr Network, issued on the Ethereum platform. Ankr Network is not a blockchain, and its ANKR token is different from native coins of blockchain networks such as Ethereum or Solana. ANKR token facilitates activity on the network and serves as payment method for the broad product suite of the Ankr Web3 software company. 

While the primary role of the ANKR is a medium for exchange, it is also used for governance of the Ankr staking system. However, the governance rights are limited to staking, so token holders can’t propose or vote for changes of the network itself. 

Ankr offers products across three verticals, including node infrastructure services, API and RPC endpoints, and a liquid staking solution. 

Deploying a node on a Proof-of-Stake blockchain is one of the popular ways to earn passive income in the crypto market. Yet, setting up and running a node is usually complicated, in terms of technical knowledge and skills alongside requirements for hardware. Ankr simplifies node setup work with its marketplace, where users can choose the blockchain and start running a node in a few clicks in return for a monthly fee paid in ANKR. With Ankr’s decentralized node infrastructure users can deploy nodes on 27 Proof-of-Stake (PoS) blockchains, including Bitcoin, NEAR and Tezos. 

Ankr also makes it easier for developers to access data from different blockchains. Using Ankr’s APIs and RPCs DApp developers can query data from major blockchains like Ethereum, Binance Chain and Polygon without the need to run their own nodes and study documentation of each specific network. Ankr switched to the pay-as-you-go model in June 2022, now offering more flexibility to its community of developers. 

Ankr’s solution for stakers is akin to LidoDAO’s liquid staking platform for Ethereum and other PoS chains. With Ankr’s Staking infrastructure individuals and businesses can stake their tokens with no lockup period and with no minimum staking requirements (for example, one would need 32 ETH to become a validator for Ethereum 2.0 vs 0.5 ETH with Ankr’s StakeFi solution). 

As such, Ethereum stakers receive aETHc - a synthetic token issued by Ankr which represents the value of their staked ETH. It also acts as a reward incentive token that reflects the value of future staking rewards and appreciates over time. 

Since users pay fees for Ankr’s services with ANKR, the price of ANKR appears to be tied to the demand for its tools. The token supply is capped at 10 billion ANKR coins, with an initial token supply of 4 billion coins, and another 6 billion to be distributed between August 2019 and August 2022. 

ANKR news, updates and highlights

The Ankr Network started as a decentralized computing platform looking to monetize idle computing resources at data centers and individual devices. This niche turned out to be a crowded one with several platforms such as Golem Network, IExec and Akash Network offering similar solutions, and besides saw limited user adoption. 

Since then, Ankr successfully pivoted to target PoS solutions and evolved from a platform with one major use case to a multi-chain Infrastructure-as-a-Service provider. The team is constantly improving the service suite, adding more blockchains into each vertical and launching new products, with Ankr Scan, a multi-chain block explorer, being one of the recent add-ons to the platform.  

Ankr announced partnerships with TRON and IoTeX, and in March 2022, Ankr also launched a gaming SDK to help developers bring games on blockchain seamlessly. 

More recently, Ankr launched an ambassador program in June 2022, looking to increase awareness and improve community engagement. 

Frequently asked questions about ANKR

  • Can you mine or stake ANKR cryptocurrency?

While ANKR tokens can’t be mined, they can be staked. Users can stake their ANKR holdings to secure the network and earn rewards, a model similar to that of PoS blockchains.

  • What are some of the best ANKR wallets?

You can store and manage your ANKR tokens in wallets such as Freewallet and Lumi Wallet. 

  • What can you do with ANKR?

ANKR is a multi-functional token of the Ankr Network. It facilitates activity on the network and is used to pay fees to access Ankr’s infrastructure services. It can also be staked to help secure the network and receive rewards. ANKR tokens can be also used in the network governance to propose and vote for changes to the Ankr staking system. 

  • How can you buy ANKR?

You can buy ANKR by exchanging your BTC or USDT holdings on an exchange such as Binance, Kucoin and MEXC. You may also use fiat currency to buy ANKR on established crypto exchanges

Ankr Price0.045923 USD
Market Rank#101
Market Cap443,749,521 USD
24h Volume23,585,567 USD
Circulating Supply9,662,899,377.79 ANKR
Max Supply10,000,000,000 ANKR
Yesterday's Market Cap451,434,080 USD
Yesterday's Open / Close0.051727 USD / 0.046718 USD
Yesterday's High / Low0.052684 USD / 0.046594 USD
Yesterday's Change
-0.10% ( 0.005009 USD )
Yesterday's Volume32,426,090 USD
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