more pain in the world of crypto voyager digital files for chapter 11 bankruptcy protection just days after the broker suspended withdrawals on the platform hey welcome back everybody to altcoin if you hold cryptocurrency I have major updates that you should know as an investor that includes breaking celsius news as well as lower cap altcoin news and much more like always check the timestamps down below find the news that’s best for you and let’s jump in
with our top story voyager digital files for chapter 11 bankruptcy and proposes a recovery plan and just to paint the picture a few months ago tara luna collapsed led to potential insolvency with celsius led to three ac’s collapse slash bankruptcy and now the next domino to fall is voyager days after pausing trading withdrawals and deposits crypto exchange voyager digital is filing
for bankruptcy under chapter 11 in the southern district court of new york and this affects so many people voyager’s chapter 11 bankruptcy filing indicated that it is on the hook for anywhere
from one billion dollars to 10 billion dollars in assets to more than 100 000 creditors and
I guess why this is so hard hitting to me is because voyager digital has always been much more regulatory compliance less respected compared to other companies like celsius for example they were a publicly-traded company who by the way has just been suspended off the Toronto stock exchange one of their board members was brian brooks who used to work for the regulators who used to be the former acting comptroller of the currency used to work for the government and on top of that they did just receive a major cash injection in the form of a loan from Alameda research so the point is this is just unfortunate to see but they do say if you hold voyager token or if you have your funds in their platform they do have a quote-unquote recovery plan in a Wednesday statement voyager explained that the bankruptcy is a part of their plan for reorganization and when implemented the plan would enable clients to re-access their accounts again and voyager would
return value to customers so what sort of value is he talking about what specifically would you get in a direct tweet from the company’s CEO he did say while this plan is subject to change
giving on given ongoing discussions with other parties as well as requires court approval if successful customers with crypto in their accounts will receive in exchange a combination of crypto in their accounts proceeds from the three ac recovery common shares in the newly reorganized company as well as voyager tokens okay give me your thoughts on this me personally if I had bitcoin and Ethereum in my account and was unable to access I’d prefer just to get that bitcoin back maybe some people will like shares in the new company
will like voyager tokens but I guess you have no choice that’s the only option so as I get more info I will keep you updated but let’s keep moving and the next piece of news involving celsius repays 120 million dollars stablecoin debt to maker protocol meaning you got to give them
credit in some sense because they’re not just filing for bankruptcy they’re still fighting within the last 24 hours celsius repaid 120 million dollars of its debt owed to decentralized lending protocol maker across three transactions here is a visual of those three transactions
and what this means to you is this is a small yet positive step in the right direction by paying down its maker debt celsius has de-risked its loan position from potential liquidation in decentralized finance liquidations occur when traders cannot repay their loans on time and the protocols automatically sell their collateralized assets and if celsius gets liquidated that will lead to massive cell pressure for bitcoin for Ethereum etc now this repayment has helped reduce the liquidation price on watch wrapped BTC collateral to now less than five thousand dollars so I believe what this means is unless the price of BTC drops below five thousand dollars then we’re in the clear if it does drop below this price point then celsius will be liquidated their assets will be automatically sold my final question is if celsius just repaid over 120 million dollars how close are they to repaying
back everything and just getting back to status quo being done with this on-chain data suggests that celsius’s obligations are complex and it maintains collateralized loans on multiple lending protocols the firm still owes 82 million dollars to maker 100 million dollars to compound and 175
million dollars to ave so it seems like they still have a long way to go but at least they’re making progress pushing that liquidation price down which I like also good news from CEO says the worst of the crypto liquidity crunch is over so of course, nobody knows the future but maybe a great time to start DCA in if you haven’t already and moving forward let’s talk about higher cap altcoins lower cap altcoins like I said check the timestamps but first off what’s happening with polygon joins Solana in bringing web3 to smartphones this is through a partnership with a tech startup called nothing has tapped the polygon network to offer non-fungible tokens on its new android based nothing phone one so this will be launched this month in collaboration with the polygon network and of course, their CEO of polygon Sandeep spoke about this partnership the polygon co-founder said this is immensely encouraging to see an innovator like nothing embrace web web3 from the get-go enabling direct access to web3 by working with polygon so with Solana announcing last
week their upcoming web 3 phone now polygon with a web3 phone what this means to you is should polygon and solana’s attempts prove to be successful they could succeed and bring web3 to a mass audience through the convenience of everyday smartphones and that’s so true so many more people globally have access to cell phones but don’t even have access to banking or regular computers but more and more people are getting cell phones and next up let’s check on the sponsor of the channel curate they have a lot in the pipeline right now but just as a reminder what is curate again well curate is the world’s first in-app nft marketplace making buying selling and minting nfts not only simple but gas free so it’s on ios it’s on android it’s on desktop and if you like nfts I loved this visual this is an nft marketplace comparison showing the differences between curate and openc wearable luxury etc and you can see some of the major differences are curate is carbon neutral it is a cross chain it’s gasless there’s free minting and bidding they also offer physical goods in the marketplace we’ll talk about that and much more about the current metrics for the curate right now is over six million of their token staked on the platform over 117 000 registered users using the platform and of course looking at the active nfts for sale over 117 000 as well so the growth is there but the news today is that curate is not just a single product the company but more of an ecosystem to support the creator economy for example they have a new play to earn a game in the works called excursion gasless gaming is coming build battle bet with curate’s first play-to-earn game here is a nice little teaser they’re also offering interviews with developers, it’s being worked on now and of course, it’s all gasless because it is on the curate and next up another big thing I thought was interesting is they’re staking and they’re minting we’ve started the world’s first and only mobile app nft marketplace we’ve also saved over 20 million dollars in fees with our gasless minting so here are the details the app offers staking i.e a slick user-friendly in-app sticking experience allows you to earn up to sixty percent apy on your staked execure also nft marketplace gas list as we talked about also minting of nfts up to zero commission fee and zero gas fees to mint on x-chain and of course multi-chain soon the solana blockchain algorithm blockchain avax binance and much more so of course multi-chain is the future and finally big piece of news they are doing a fully reworked desktop nft experience coming at the end of this month while in 2021 last year it was of the utmost importance to the team to get the mobile app up and running to an excellent standard now that that is accomplished we have turned our attention more directly to the desktop app as they say our enhanced minting page on the desktop is shaping up well solving the problem that minting nfts is complicated and expensive well with curate you can mint in 5 seconds for free here is a nice little teaser boom here it is and of course, they already have something like this on mobile now they’re enhancing desktop all right give me your thoughts on this down below and I would be remiss if I didn’t show you their physical marketplace their peer-to-peer marketplace which went live back in 2021 where you can buy and sell physical goods first on-chain peer-to-peer marketplace with one click nft physical listings we can check out their web app and here it is selling physical goods on chain like a black bitcoin hat little stuffed animal etc as seen here and by comparison this is their nft marketplace similar to the openc displays etc but of course with gasless options let’s keep moving but next up speaking of growth slash progress major news from injective protocol
the cosmos smart contract layer is now live on injective meaning smart contracts are now live on injective here are the details on what this upgrade includes injective’s cosmosome mainnet upgrade includes smart contract support binary options support negative maker fees they are derivatives trading protocol first and foremost interchange accounts and a handful of other major improvements and let’s go further what exactly is Qasim wasm is an advanced smart contracting platform built for the cosmos ecosystem cost refers to cosmos while wasm refers to web assembly Qasim wasm uniquely enables developers to build multi-chain smart contracts making use of the inner blockchain communication ibc protocol also the big revolution in all this is this is all automatic ie smart contracts on the blockchain this injective mainnet upgrade will allow smart contracts to be executed
automatically at every block and of course how this will affect the injective community is that
cosmosome will allow developers to build the more complex features and applications on injective will now be the only blockchain that allows for self-executing smart contract logic this will bring more builders users and community members growing the injective ecosystem as a whole all right cool to see the progress cool to see the growth I will keep you updated and next up a quick piece of news binance to extend their zero-fee bitcoin trading globally so the crypto exchange is rolling out a program that started in the u.s last month to its global client base and this is for bitcoin trading specifically so trading fees are being eliminated
across 13 stablecoin and fiat combinations including BTC USDT USD and used and BTC b USD etc very interesting and you know binance is doing well when they can just turn off the revenue for their highest volume spot pairs.

Leave a Reply

Your email address will not be published. Required fields are marked *