NPK TALK SERIES (EPISODE 11)

Hello,

Welcome to this episode of the NPK Talk Series. Always is there something new happening in the cryptosphere? Well, the answer is yes…..

As a crypto investor, it is wise you know that Celsius Network, a crypto lender that is facing liquidity crises, has filed for Chapter II bankruptcy protection in the United States. The crypto lender said it has $167 million in cash on hand and will continue to freeze customers’ withdrawals. A statement reads;

“Today’s filing follows the difficult but necessary decision by Celsius last month to pause withdrawals, swaps, and transfers on its platform to stabilize its business and protect its customers. Without a pause, the acceleration of withdrawals would have allowed certain customers — those who were first to act — to be paid in full while leaving others behind to wait for Celsius to harvest value from longer-term asset deployment activities before they receive a recovery”

Celsius is now known as one of the crypto lenders that is facing financial crises in the latest liquidity crises in crypto, and its suspension of withdrawals started on June 12. Some analysts are seeing a recovery of the CEL token despite its bankruptcy. Well, let’s see how it goes!

Next, Polygon joins the Disney accelerator program to develop Augmented Reality (AR), Non-Fungible Token (NFT), and Artificial Intelligence (AI) experiences. Polygon is now one of the six companies selected to participate in Disney’s 2022 accelerator program — a business and development program designed to spur the growth of innovative companies around the world. The program which begins this week is looking to develop new technologies within AR, NFT, and AI.

The next big news is the score win of Ripple against the Securities and Exchange Commission (SEC). Unbelievable! This is a huge win for Ripple as the “Ripple versus SEC case” has been in court since 2020. On Tuesday, July 12, the United State Magistrate Judge, Sarah Netburn denied SEC’s motion to keep the speech by its former official William Hinman protected under attorney-client privilege, calling the agency’s litigation tactics “hypocrisy”.

Thank you for reading. See you next week for another episode!