After a rapid crash of BITCOIN, the entire crypto currency plummeted to the abyss, bringing some major players into bankruptcy! Many big and small investors lost fortunes in the past months and many have lost the faith into crypto currency.
A major blow to crypto stability was the fact that Celsius Network filed bankruptcy back in July, leaving many customers loosing even what ever was left from remaining investment. Now Crypto lender Celsius Network is making headlines once again, this time with somewhat encouraging news to millions of people who trusted this organization. According to a company presentation delivered in court Tuesday, Celsius Network LLC has received multiple bids for its retail platform and mining businesses.
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“Celsius, which went bankrupt in July, held crypto worth $2.6 billion as of Nov. 25, according to the presentation. There remains about a $1.2 billion gap between the value of its assets including non-crypto and its total debts”. – Bloomberg
Yet another crypto currants trade network is in trouble, Binance! Today, Bloomberg shared some disturbing information about Binance. According to Bloomberg, Binance is replacing Changpeng Zhao as CEO of the company and it will cut 58% of its workforce! This announcement cake just days after many Binance customers rushed to withdraw the money from this crypto network.
Is this a sign of a major restructuring of crypto trading or is it more of a downward spiral and unavoidable end of a successful streak? For people who never invested into crypto currencies this question could not be more irrelevant, but to anyone having their savings and investments involved into crypto, this question is more than anxious, teeth biting endeavour. As no one could have predicted 2021-2022 BITCOIN rollercoaster, this new thrill ride could be an unpredictable one. News are changing by the minute while billions are at stake! Is crypto dying or is it just rebuilding its backbone into more robust institution of future trading? For investors, the second option is more desirable option for sure. Many are seeking answers, yet one can only wait to see what will come out of this uncertain times.