Celsius
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Canadian Pension Required To Disclose Cryptocurrency Exposure
The Canadian government stated in a new 2023 budget plan that federally regulated pension funds in the country would be required to notify the Office of the Superintendent of Financial Institutions (OSFI) about their exposure to #crypto assets.
The government is attempting to protect Canadians' retirement benefits in the aftermath of several high-profile financial bankruptcies affecting pension funds. It includes the recent #FTX crypto exchange and #Celsius Network failures.
Simon Dixon, CEO of BnkToTheFuture, commented on the new regulatory requirement on Twitter. He claimed that Canadian pension funds are suffering from "Crypto PTSD" (post-traumatic stress disorder) as a result of their investment in the Sam Bankman-Fried-led FTX exchange after suffering significantly from the collapse of Celsius.
Notably, the Ontario Teachers' Pension Plan wrote down the entire $95 million investment in FTX, effectively reducing the investment's value to zero. Other Canadian pension funds, such as the Caisse de dépôt et placement du Québec (CDPQ) in Quebec, had previously written off a $150 million investment in Celsius Network, implying that it no longer expected to recover that investment.
After months of litigation, Celsius recently announced that it had reached a settlement with the Custody Ad Hoc Group and the UCC. The settlement will allow eligible account holders to opt-in and reclaim the majority of their digital assets from the Custody Program. Notably, those who opt in will eventually receive 72.5% of their digital assets back.
This news is republished from https://coinaquarium.io/
The government is attempting to protect Canadians' retirement benefits in the aftermath of several high-profile financial bankruptcies affecting pension funds. It includes the recent #FTX crypto exchange and #Celsius Network failures.
Simon Dixon, CEO of BnkToTheFuture, commented on the new regulatory requirement on Twitter. He claimed that Canadian pension funds are suffering from "Crypto PTSD" (post-traumatic stress disorder) as a result of their investment in the Sam Bankman-Fried-led FTX exchange after suffering significantly from the collapse of Celsius.
Notably, the Ontario Teachers' Pension Plan wrote down the entire $95 million investment in FTX, effectively reducing the investment's value to zero. Other Canadian pension funds, such as the Caisse de dépôt et placement du Québec (CDPQ) in Quebec, had previously written off a $150 million investment in Celsius Network, implying that it no longer expected to recover that investment.
After months of litigation, Celsius recently announced that it had reached a settlement with the Custody Ad Hoc Group and the UCC. The settlement will allow eligible account holders to opt-in and reclaim the majority of their digital assets from the Custody Program. Notably, those who opt in will eventually receive 72.5% of their digital assets back.
This news is republished from https://coinaquarium.io/
📢Levin wrote that this past spring, the Midas DeFi portfolio lost $50 million, or 20% of its $250 million in assets under management (AUM), and that after the collapse of #Celsius and #FTX , its platform experienced over 60% of #AUM being withdrawn.
Source: #YahooFinance
Source: #YahooFinance
⚠️ 2013 - You missed $BTC
⚠️ 2014 - You missed $DOGE
⚠️ 2015 - You missed $XRP
⚠️ 2016 - You missed $ETH
⚠️ 2017 - You missed $ADA
⚠️ 2018 - You missed $BNB
⚠️ 2019 - You missed $LINK
⚠️ 2020 - You missed $DOT
⚠️ 2021 - You missed $SHIB
⚠️ 2022- You missed $USD
2023 Dont miss__?
#etf #BTC #BinanceBlockchainWeek #Celsius $BTC
$SOL
$TRB
⚠️ 2014 - You missed $DOGE
⚠️ 2015 - You missed $XRP
⚠️ 2016 - You missed $ETH
⚠️ 2017 - You missed $ADA
⚠️ 2018 - You missed $BNB
⚠️ 2019 - You missed $LINK
⚠️ 2020 - You missed $DOT
⚠️ 2021 - You missed $SHIB
⚠️ 2022- You missed $USD
2023 Dont miss__?
#etf #BTC #BinanceBlockchainWeek #Celsius $BTC
$SOL
$TRB
💰Eighteen months after #Celsius Network paused withdrawals, the bankrupt crypto lender has started distributing over $3B of #cryptocurrency to creditors.
According to The Plan, the company will distribute over $3 billion of cryptocurrency and fiat to Celsius’ creditors, and create a new #Bitcoin mining company—Ionic Digital.
The company has been depositing $ETH on major #CEXs for the past 3 months, moving a total of 847,626 $ETH (~$1.90B). The last transaction included a deposit of 67,500 $ETH ($156.5M) to Coinbase Prime.
If you want to follow Celsius' transactions on-chain and see when they will distribute the remaining $153.9M in crypto remaining in their treasury, there are 19 addresses you should look for. These are the addresses the bulk of the crypto is held on:
👉0x41318419cfa25396b47a94896ffa2c77c6434040
👉0x455257963812c008ce8edf3d08cb48e95c8aa2e2
👉0xf87143bb93b44a45fe886e1e09a581712f917665
👉0x79439b8a895d347e47cebea8a39bc8b3d9a20f63
👉0xdb31651967684a40a05c4ab8ec56fc32f060998d
👉0xc131701ea649afc0bfcc085dc13304dc0153dc2e
👉0x4a87ecdfb459eb36d25226d9ccd7ec4f684ab3fc
Fortunately for us, the company won't sell its crypto holdings and distribute cash, but will rather directly send crypto to its users.
This will not put pressure on the market, which means that we should not expect any declines in prices🚀
#TrendingTopic
According to The Plan, the company will distribute over $3 billion of cryptocurrency and fiat to Celsius’ creditors, and create a new #Bitcoin mining company—Ionic Digital.
The company has been depositing $ETH on major #CEXs for the past 3 months, moving a total of 847,626 $ETH (~$1.90B). The last transaction included a deposit of 67,500 $ETH ($156.5M) to Coinbase Prime.
If you want to follow Celsius' transactions on-chain and see when they will distribute the remaining $153.9M in crypto remaining in their treasury, there are 19 addresses you should look for. These are the addresses the bulk of the crypto is held on:
👉0x41318419cfa25396b47a94896ffa2c77c6434040
👉0x455257963812c008ce8edf3d08cb48e95c8aa2e2
👉0xf87143bb93b44a45fe886e1e09a581712f917665
👉0x79439b8a895d347e47cebea8a39bc8b3d9a20f63
👉0xdb31651967684a40a05c4ab8ec56fc32f060998d
👉0xc131701ea649afc0bfcc085dc13304dc0153dc2e
👉0x4a87ecdfb459eb36d25226d9ccd7ec4f684ab3fc
Fortunately for us, the company won't sell its crypto holdings and distribute cash, but will rather directly send crypto to its users.
This will not put pressure on the market, which means that we should not expect any declines in prices🚀
#TrendingTopic
💰 A substantial transfer of $16.45 million worth of ETH has been reported, with the funds moving to Celsius from a specific address, according to blockchain data analysis company Lookonchain. If you have any further questions or need additional information, please feel free to ask. 💼🚀 #ETHTransfer #Celsius
Hi Binancians,
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#etf #Poloniex #ETH #BTC #Celsius
The rearmost updates to Binance Square are available in app interpretation2.74. Make sure to modernize your app to the most recent interpretation. Then is a detailed breakdown of the new features and updates.
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You can produce a unique username on your Binance Square profile. This username will be displayed under the' surname' and can be used when people mention you or as a keyword in the URL. Please flash back , the username can only be changed formerly after being set up.
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Get your announcement substantiated!
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intermingled Content Editors on Website
When creating content on the website, the short post, long composition, and videotape editor options have been intermingled for effective content creation. generators can now toggle between formats — be it long papers or vids simply by clicking on the corresponding icon.
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Stay streamlined with All effects Binance Square
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