Daily Crypto News

  1. Bitcoin hashrate slumps to lowest in over five months amid 100-degree-plus weather in Texas — Bitcoin’s hashrate dropped by more than 27% in 24 hours to 159.41 exahashes per second (EH/s) on Wednesday, the lowest since February this year, according to data from BTC.com.
  2. Crypto Lender Celsius Files for Bankruptcy After Cash Crunch — Cryptocurrency lender Celsius Network filed for Chapter 11 bankruptcy, the latest casualty of a $2 trillion crash that has wiped out some of the industry’s biggest names and exposed hundreds of thousands of individual investors to steep losses.
  3. Crypto exchange Fasset, Mastercard seek expansion in Indonesia — Middle East crypto exchange Fasset Technologies Ltd. is collaborating with global payments technology company Mastercard to expand its financial reach in Indonesia.
  4. MATIC crypto skyrockets as Polygon joins Disney accelerator — Polygon was selected as one of the 2022 participants for Disney’s accelerator program on Wednesday, triggering the project’s cryptocurrency MATIC to rise by more than 15%.
  5. Crypto Crash Drags Lender Celsius Network Into Bankruptcy — Cryptocurrency lender Celsius Network filed for bankruptcy protection Wednesday, a month after halting withdrawals in the wake of a collapse in digital currency prices that stretched the platform’s business model past the breaking point.
  6. Beleaguered crypto lender Celsius files for Chapter 11 bankruptcy — In a statement late Wednesday, Celsius co-founder and Chief Executive Alex Mashinsky said the filing in U.S. Bankruptcy Court for the Southern District of New York “is the right decision for our community and company.”
  7. Bitcoin bounces back after US reports worst inflation in 41 years — Bitcoin recovered past US$20,000 on Thursday morning in Asia following a steep 3.4% drop within an hour following the U.S. announcing its fastest inflation growth in 41 years.
  8. Polygon Joins Disney’s ‘Accelerator Program’ to Develop AR, NFT and AI Experiences — Ethereum scaling tool Polygon is continuing to scale its Web3 infrastructure via a new project with media conglomerate the Walt Disney Company.
  9. Wobble in stETH’s Price Shows Fear Celsius Might Dump $435M Stake — An obscure crypto-market metric known as the “stETH discount” is suddenly sending a distress signal, possibly because of speculation that the troubled lender Celsius Network is preparing to dump some of its holdings in a bid to raise liquidity.

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