Crypto Market Overview October 3rd | Dex-Trade

Crypto Market Overview October 3rd | Dex-Trade

Alex Mashinsky Withdrew $10 Million Before Celsius Bankruptcy

According to the Financial Times (FT), former Celsius CEO Alex Mashinsky allegedly withdrew $10 million from the company's account in May, and just weeks afterward, the cryptocurrency lending platform froze customer withdrawals.According to the Financial Times (FT), former Celsius CEO Alex Mashinsky allegedly withdrew $10 million from the company's account in May, and just weeks afterward, the cryptocurrency lending platform froze customer withdrawals. The FT insider also said that "the withdrawal had been pre-planned and was linked to Mashinsky’s estate planning." Ahead of a major withdrawal, Mashinsky was reportedly withdrawing small amounts of crypto to pay taxes, and “he consistently deposited cryptocurrency in amounts that totaled what he withdrew in May.” Recall that on September 27, Mashinsky resigned from the post of CEO of Celsius and made an official statement that he was very sorry for the difficult financial circumstances faced by members of the company's community. Then he said that he was going to be distracted from Celsius, but to develop a scenario for his recovery. Celsius was a popular lending platform with a valuation of more than $3 billion. But in July, the company filed for bankruptcy, and an audit of the platform found a $1.2 billion hole in its balance sheet. The company repeatedly tried to return some of the funds to customers. So on September 30, the Department of Justice filed an application objecting to Celsius's request to issue its stablecoins, the proceeds from the sale of which were planned to be transferred to creditors. It was about $23 million...


“I Love that Bitcoin Can’t be Stopped”: Cynthia Lummis in Her Style

In an interview with Hard Money's Natalie Brunell, Republican US Senator Cynthia Lummis shared her take on Bitcoin: Bitcoin “I love that it can’t be stopped, especially because I’m concerned about our national debt. I’m concerned about inflation." Many people in her home state of Wyoming are now forced to go to food banks for fuel because they need gasoline to get to work, Lummis said. And now they have to choose between expensive gasoline and expensive food, so soon people will massively use lending services just to survive. The senator said that when it is possible to discover the causes of inflation and when it is clear why the value of the dollar is falling, then it is quite reasonable to consider assets that will exist in the long term. Therefore, Lummis says that she is “pleased to know that bitcoin exists.” She also believes that digital money is especially practical for people in those places on the planet where everyday life is associated with a large number of dangers. In her opinion, for people in such countries, bitcoin is a pillar, thanks to which they can be calm that their savings are in a safe place. True, Lummis decided not to comment on the risks associated with cryptocurrencies, because the speech could go in a completely different direction…


Terrorist Groups of RF Master the Crypto: TRM Labs Study

A study by blockchain analytics company TRM Labs has revealed that pro-russian military groups are raising funds in cryptocurrencies to support terrorist operations in Ukraine and evade US sanctions. According to the CEO of TRM Labs, Chris Janchevski, by September 22, the scammers have collected at least $400,000. This information was obtained through the analysis of data from publicly available sources, as well as cross-checking sites, which reveals any links to the RF. However, it is still unknown whether the attackers are cooperating directly with the Russian government. Terrorist groups mainly use Telegram to communicate and raise funds. The administration of some messenger channels tells visitors how they can sponsor terrorists associated with the RF and conduct combat training in places near the Ukrainian border. It is already known that part of the funds raised in such channels was directed to the purchase of thermal imagers and radio equipment. Recall that in the past few months, fears that the RF could use cryptocurrencies to circumvent sanctions have increased dramatically. However, some analysts argue that a terrorist state is likely to face a hurdle in using digital money due to a lack of sufficient liquidity to counter the scale of the sanctions.