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Celsius To Open Crypto Withdrawals
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/c0f403cb-4040-4a5e-adfe-502c0751b78a/alex-mashinsky-celsius-1068x561.jpg?t=1701460037)
❄️Celsius Offers Withdrawals to Some
Withdrawal Percentage and Deadline: Celsius customers with specific deposit accounts can withdraw 72.5% of their claims, excluding transaction fees. This decision, announced by a bankruptcy court, allows withdrawals until February 28, 2024.
Eligibility and Exclusions: Eligible customers in the Custody Program can start withdrawing funds from around November 29. Those who rejected the reorganization plan are excluded and their funds will be managed separately for six months.
User Base and Financial Overview: Approximately 58,300 users, holding custody assets valued at $210 million, are affected. Celsius filed for bankruptcy in July 2022, and a reorganization plan was approved to distribute $2 billion in assets. Celsius and CEO Alex Mashinsky faced lawsuits for misleading customers. Read More.
☕️ On today's Top Picks:
- Cristiano Ronaldo sued for allegedly promoting unregistered securities.
- Gitcoin Grants 19, several hours left to donate.
- Velodrome frontend compromised.
- Wormhole raises $225M in funding.
Read time: ⏰ 8 minutes
📰 Crypto News
• Coinbase receives subpoena related to Bybit that may force the exchange to share crypto trading data with the CFTC.
• CZ steps down as chairman from Binance US board.
• Mercedes Formula 1 team and MLB sued for allegedly helping FTX commit fraud in their partnerships with the exchange.
• ⭐️ Cristiano Ronaldo sued for allegedly promoting unregistered securities in his partnership with Binance.
• Philippines' SEC set to block access to Binance within three months.
• Digital Currency Group (DCG) and Genesis Global reach repayment plan to settle their lawsuit.
• Paxos expands to Abu Dhabi after receiving two in-principle approvals to issue stablecoins and offer crypto brokerage and custody services.
⚡ Alpha
• ⭐️ Gitcoin Grants 19, several hours left to donate.
• Polygon zkEVM Saga Campaign Week 6, less than 24 hours left to complete on Intract.
• Arbitrum Odyssey Reignited ends as final NFT releases on Dec 1st at 1700 UTC.
• Chainflip Incentivised Launch Season Sprint Campaign Phase 5 is live on Galxe.
🪂 Airdrops
• Solana upcoming airdrops by Crypto Snooper.
• Ten, an encrypted Layer 2 network by Alpha Drops.
• Blast airdrop strategy by DeFi Airdrops.
📰 Finance News
• US announces revised annualized quarterly rate of GDP in the third quarter of 5.2%, expected 5.00%.
• Sri Lanka reaches debt restructuring deal with creditor nations.
• Charlie Munger, Vice Chairman of Berkshire Hathaway $BRK.A dies at age 99.
• Amazon $AMZN launches Q, a new AI assistant for businesses.
• Tesla $TSLA beats claims that it illegally fired employees in New York.
• General Motors $GM takes $9.3B hit after lengthy US strike, but will buy back $10B in shares, and boost dividends by 33%.
• Volkswagen's $10.9B savings program to include staff reductions as car brand is no longer competitive.
• Hauwei's new smart car firm valued up to $35B.
• Mark Cuban selling stake in Dallas Mavericks NBA team for $3.5B.
🛡 Security and Exploits
• ⭐️ Velodrome frontend compromised; protocol funds are safe and contracts are unaffected.
• KyberSwap hacker sends message to KyberSwap team expressing willingness to negotiate.
• Poloniex deposit and withdrawal services set to resume from Nov 30th at 0200 UTC.
• Google releases security updates to Chrome fixing actively exploited zero-day vulnerability.
• Android malware campaign is targeting Iranian banks.
🪙 Token Unlocks
• Sui / 41.5M $SUI / ~$24.34M / 29 NOV
• Optimism / 24.16M $OP / ~$40.1M / 29 NOV
• dYdX / 150M $DYDX / ~$475.5M / 30 NOV
• Acala / 27.43M $ACA / ~$1.68M / 30 NOV
• 1inch / 98.74M $1INCH / ~$33.38M / 01 DEC
• Tornado Cash / 22.84K $TORN / ~$38.61K / 02 DEC
💰 Funding
• ⭐️ Wormhole, a cross-chain protocol raises $225M in funding.
• Coinchange, a DeFi yield platform, raises $10M in funding
• Mummolin, a mining decentralization company; raises $6.2M in Seed funding led by Jack Dorsey.
• MYX, a decentralized perpetual exchange; raises $5M in Seed funding led by Sequoia China
• Settler, a Web3 consumer app; raises $5M in Seed funding led by Andreessen Horowitz (a16z).
🌾 The Degen Farmer
PROTOCOL | ASSETS | APY |
---|---|---|
![]() | IUSD | 27.28% |
![]() | STEURUSDC | 26.78% |
![]() | DOLAUSDC | 22.53% |
![]() | USDC | 21.81% |
![]() | USDC | 20.37% |
![]() | TUSDUSDT | 19.51% |
![]() | USDC | 18.10% |
![]() | USDC | 17.57% |
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That's it for today's dose! See you soon.
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