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Celsius publishes list of those eligible for withdrawals

  • Celsius Network is currently going through the Chapter 11 bankruptcy process.
  • Celsius received approval to process certain customer withdrawals last week.
  • Those eligible to withdraw are those who deposited after the lender filed for bankruptcy.

Days after US Bankruptcy Court for the Southern District allowed Celsius Network to return funds transferred to the platform after the company filed for Chapter 11 bankruptcy in July 2022, the crypto lender has now published a list of those eligible for withdrawals.

Besides publishing the list, Celsius has emphasized that eligible creditors will be required to first update their accounts with KYC and AML data before being allowed to proceed with withdrawals.

The full list of those eligible to withdraw

It is worth noting that Celsius Network halted withdrawals in June 2022 before proceeding to file for bankruptcy in July. Creditors have since been waiting for a chance to withdraw their funds from the platform and it seems it is just a matter of time now.

On January 31, the crypto lender released an official update about the upcoming withdrawals and provided a list of those who will be eligible to withdraw funds. Most importantly, those eligible will only be allowed to withdraw about 94% of the eligible custody assets.

The court is expected to make a decision on whether the users will be able to withdraw the remaining 6% of their assets later.

Celsius also noted that eligible users must have sufficient assets to cater for the transaction and gas fees. It wrote:

“Eligible users who do not have sufficient assets in their accounts to satisfy these fees will not be permitted to withdraw their assets.”

Celsius laid out how it intends to carry out the entire withdrawal process in a 1,411-page court filing that contains the full names of those eligible for withdrawals alongside the type and amount of assets they had deposited with Celsius.

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Immutable X unveils Immutable Passport, a non-custodial wallet for web3 gamers

  • The Immutable Passport is designed to operate as an all-in-one solution for Web3 gamers.
  • The aim of launching the passport is to eliminate Web3 onboarding hurdles.
  • Immutable Passport is expected to become parallel to the other web3 gaming systems.

Leading Web3 games developer platform Immutable X has unveiled the Immutable Passport, an all-in-one solution for onboarding gamers into Web3. The news has had an insignificant impact on the price of the ImmutableX (IMX) token which had only gained about 1% in the last 24 hours at press time.

Immutable X announced the launch via a tweet sharing its initiative to develop the passport, which is designed as an all-in-one non-custodial wallet.

Seamless onboarding into Web3

As a gamer starting out in Web3 couple be complicated at times especially because it involves the use of cryptocurrencies which will require one to create a crypto wallet. In most cases, the process of creating and managing cryptocurrency wallets is quite involved.

However, with the introduction of the new Immutable Passport, Immutable X will offer an “all-in-one wallet, gamer profile, and authentication solution” for Web3 gamers which will make it quite easy to get started. Gamers will not have to hop from one platform to another for various services like a crypto wallet.

In addition to being a one-stop platform, Immutable X claims that the passport’s main features are security, ease of onboarding, and compliance with the necessary laws. The passport will help Web3 gaming studios to drive adoption throughout the mainstream web3 gaming space.

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HSBC is now ready to venture into the crypto market

  • HSBC posted crypto-related job openings on its career page today.
  • Peers have already launched crypto products in recent years.
  • Shares of the largest European bank ended slightly down on Tuesday.

HSBC Holdings plc was in focus today on reports that the largest European bank was now ready to venture into cryptocurrencies.

HSBC posts crypto-related job openings

On Tuesday, HSBC listed a job opening on its career page confirming that it was looking for a “Product Director” to supervise tokenization use cases.

According to the financial behemoth, the rapidly evolving crypto landscape has necessitated that the bank develops a footprint in this market.

Because digital assets is a new topic and strategic & risk appetite considerations are evolving quickly, Head of Tokenization will be required to make complex business and project decisions that contribute to a high value, strategic initiative.

Shares of HSBC Holdings plc that are up more than 15% year-to-date ended slightly in the red today.

HSBC is joining the likes of JPMorgan Chase

The British multinational isn’t the only one in big banks that’s considering dipping its toe in the crypto market. Peers, including JPMorgan Chase & Co have already launched crypto-related products in recent years.

HSBC Holdings plc is currently looking for a suitable candidate to fill in the role of Product Manager for digital assets as well, which suggests that it wants to offer a broad set of services within the crypto niche.

That’s quite a change of pace for the universal bank that’s been vocal against the cryptocurrencies and raised questions on their sustainability. Just months ago, its CEO Noel Quinn was reported saying that HSBC will not rush into cryptocurrencies.

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