Lending Platform Celsius Files For Chapter 11 Bankruptcy – July 14

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$20,004

Bitcoin price continues to flirt with the key $20,000 level, as price keeps travelling in a range between $18,000 and $22,000.

Top-20 altcoins are also continuing their sideways price action, as volatility remains low across the entire market. All top-20 coins have moved less than 1% over the last 24 hours, aside from Polygon which fell 1.2%.

Top Stories for July 14, 2022 🔥

👉 Lending Platform Celsius Files For Chapter 11 Bankruptcy

Crypto lending platform Celsius has filed for Chapter 11 bankruptcy in New York, according to court filings. A statement by the company says it has $167 million in cash to support certain operations during the restructuring process.

Celsius’ Chapter 11 petition shows that the firm declared between $1 billion and $10 billion in assets and equal liabilities,, with 100,000 creditors. The largest unsecured creditor named was Pharos USD Fund SP and Pharos Fund SP, with ICB Solutions, The Caen Group LLC, Alameda Research also owed funds.

👉 Polygon Selected By Disney To Join Web3 Accelerator Program

Ethereum scaling network Polygon is one of six companies chosen by Disney to participate in its 2022 Accelerator program, with a focus on Web3 technologies.

The program seeks to develop new innovations in the augmented reality (AR) space, as well as NFTs and artificial intelligence. As part of the program, Polygon will receive guidance from Disney’s senior leadership team plus an executive mentor.

👉 People’s Bank Of China To Expand e-CNY Testing Sites

The People’s Bank of China (PBoC) has announced that it will be expanding its testing of digital yuan (e-CNY) sites, adding 12 new areas across the country. This more than doubles the initial amount of testing locations, bringing the total to 23 different areas.

Since launch, 254 million e-VNY transactions have been made, adding up to more than $12 billion worth of value. More than 4.5 million merchants have started accepting the central bank digital currency.