Celsius has motioned for $50 million worth of the total $225 million held in the Custody Program and Withhold Accounts to be released to owners.
Beleaguered crypto lender Celsius Network has filed a motion with the United States Bankruptcy Court yesterday to allow customers with digital assets held in certain accounts to be withdrawn.

There’s a catch, however, as the motion will only apply to Custody and Withold Accounts and for custodied assets worth $7,575 or less in value.

Celsius has structured their Custody and Withhold Accounts, which essentially serve as storage wallets, in a way that still enables users to maintain legal ownership of cryptocurrency.

This ownership however is not extended to assets held in accounts that offer annual crypto earnings or borrowing services (Earn and Borrow accounts).


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Based on an independent investigation, Binance’s security team identified two suspects that may be responsible for orchestrating the virtual heist of $265,000 on KyberSwap.

Helping investigate a $265,000 hack on decentralized crypto exchange KyberSwap, crypto exchange Binance narrowed down two suspects that seem responsible for the attack.

On Sept. 1, Kyber Network succumbed to a frontend exploit, allowing the attacker to make away with $265,000 worth of user funds from KyberSwap. While investigations were underway, KyberSwap offered a 10% bounty — of roughly $40,000 — to the hacker as means to remediate the situation.

Parallelly, based on an independent investigation, Binance’s security team identified two suspects that may be responsible for orchestrating the virtual heist. Binance CEO Changpeng ‘CZ’ Zhao confirmed that the intel had been sent to the Kyber team.


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Court documents allege that the recipient used a portion of the funds to purchase a luxury mansion upon receipt.
According to local news outlet 7News, two Melbourne women, Manivel Thevamanogari and her sister Gangadory Thevamanogari, received an AUD$10.5 million deposit from Singaporean crypto exchange Crypto.com after the latter made an error in issuing an AUD$100 refund. Instead of the refund amount, an employee allegedly typed an account number in the payment section, resulting in an erroneous transfer to their bank account.


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NFT NYC 2022 was filled with emerging NFT projects and industry experts.

Cointelegraph senior reporter Rachel Wolfson spent a day exploring NFT NYC 2022 to learn about emerging nonfungible token projects,or NFTs, and how the sector may advance. A recent market report published by Verified Market Research (VMR) predicts that the NFT market could reach a value of $230 billion by 2030. NFT NYC 2022 certainly demonstrated the potential of the NFT sector, highlighting some of the most promising use cases and industry experts.

For instance, Camila Russo, founder of The Defiant and author of The Infinite Machine, told Cointelegraph that NFT products should advance to bring value to holders, whether that comes in the form of community building or funding for new projects.


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The Ethereum Merge could force many crypto miners to give up and abandon their expensive mining rigs amid a race to the bottom for profits.

The Ethereum network’s transition from a proof-of-work (PoW) consensus is likely to flood the crypto industry with out-of-work ETH miners, causing severe disruption to all PoW tokens.

Speaking to Cointelegraph, Andy Long, CEO of Bitcoin miner White Rock believes the upcoming Ethereum Merge will force PoW miners to look for greener pastures, such as other PoW blockchains, and thus "swamp” other coins — increasing mining difficulty and reducing profitability, stating:

"As GPU miners point their hardware at other chains their difficulty will increase causing lower returns and splitting the reward amongst more miners."
Long added that the migration will likely force many crypto miners to give up and abandon their expensive mining rigs.


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Data from March reportedly showed the largest number of U.S. trademark filings in 2022, with 1,078 for NFTs, 604 for cryptocurrencies and 759 for the Metaverse.

The number of U.S. trademarks filed related to cryptocurrencies, nonfungible tokens (NFTs), Web3 and the Metaverse since January have reportedly passed those filed in 2021.

According to data compiled by intellectual property lawyer Mike Kondoudis on Tuesday, individuals and businesses filed more than 3,600 trademark applications for cryptocurrencies and crypto-related services with the United States Patent and Trademark Office as of Aug. 31, compared to 3,516 in all of 2021. In addition, Kondoudis reported that the number of NFT applications had surged even higher — more than 5,800 in 2022 compared to 2,087 in 2021 — while the number of trademark filings related to the Metaverse or Web3 had more than doubled: 1,866 in 2021 and 4,150 as of August 2022.


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The new trademark application covers video recordings, text, artwork and audio featuring live music authenticated by NFTs.
American music giant Sony Music Entertainment has signaled intentions to utilize nonfungible tokens (NFTs) after filing a trademark application covering music and artists under the Columbia Records logo.

According to an Aug. 30 trademark application to the United States Patent and Trademark Office (USPTO) shared by trademark attorney Mike Kondoudis on Tuesday, the application covers “audio and video recordings featuring live musical performances authenticated by NFTs.”
The application also covers marketing services, promotion, distribution, marketing, advertising and online entertainment, including podcasts and audiovisual recordings.

The new trademark application comes in the wake of several other Sony Music-backed NFT projects.


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Polygon's chief of security says his department now employs 10 experts to ensure top-notch cyber security practices are adopted, recommending other crypto firms do the same.

Polygon Chief Security Officer Mudit Gupta has urged Web3 companies to hire traditional security experts to put an end to easily preventable hacks, arguing that perfect code and cryptography are not enough.

Speaking to Cointelegraph, Gupta outlined that several of the recent hacks in crypto were ultimately a result of Web2 security vulnerabilities such as private key management and phishing attacks to gain logins, rather than poorly designed blockchain tech.



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Instead of relying on unwieldy contracts to generate music for their products, NFTs are offering GameFi developers ways to come up with faster (and more equitable) agreements with artists.

The GameFi industry has surged since 2020, with some estimating a market capitalization of $55.4 billion as of February 2022. While others have much lower estimates closer to $3 billion, one thing is for sure: The industry grew rapidly from zero and is poised for continued growth. What matters, however, is not the day-to-day or even month-to-month market cap, but rather the continued rise of users who feel like they’re extracting value.

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If BTC bounces from its key underlying support, ADA, ATOM, FIL and EOS could break out.
The decline in the United States equities markets last week extended the marketwide losing streak to three consecutive weeks. The Nasdaq Composite fell for six days in a row for the first time since 2019. The market’s negative reaction to a seemingly positive August jobs report suggests that traders are nervous about the Federal Reserve’s future steps and its effects on the economy.

Weakness in the U.S. equities markets pulled Bitcoin (BTC) back below $20,000 on Sept. 2 and the bears sustained the price below the level during the weekend. This pulled Bitcoin’s market dominance to just under 39% on Sept. 4, its lowest level since June 2018, according to data from CoinMarketCap.

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The new feature has been added with just days left until the long-awaited Ethereum Merge.

As a sign of support for the upcoming Ethereum Merge, tech juggernaut Google is marking the time left until the upgrade with a new countdown timer.

Typing any variation of "Ethereum Merge" or "The Merge" into the search engine shows a countdown ticker, with the estimated time left until the Merge based on the current difficulty, hash rate, and merge difficulty.

Off to the side is a cartoon of two happy pandas running toward each other with outstretched hands, which supposedly will get closer as the Merge date draws nearer.
Google Cloud developer Sam Padilla in a Sept. 9 tweet said the timer was "a fun little surprise" and a way to show their appreciation of "the work that has been going into this for years."


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KuCoin, Gate.io and MEXC Global were in the crosshairs of community members as they expressed their support for the upcoming on-chain LUNC transaction burn.

As the upcoming Terra Classic (LUNC) — formerly Terra (LUNC) — burning mechanism gained more hype, some crypto exchanges thought it would be a good idea to express their support. However, the crypto community quickly responded, calling out the exchanges for what some believe to be public relations stunts.

On Sept. 1, Terra community member Edward Kim submitted a proposal to implement a 1.2% tax burn for every on-chain LUNC transaction in an effort to revive the crypto. The transaction tax will be sent to a dead address, removing part of the circulating supply permanently. Following the proposal, the LUNC token soared by 250%, as the hype surrounding the project showed signs of life.


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As part of the deal, Square Enix will develop games on Oasys’ PoS network, joining the likes of Sega, Double Jump, Bandai Namco and Ubisoft.

Square Enix, the Japanese game developer behind the beloved Final Fantasy franchise has signed on as a node validator for blockchain gaming project Oasys, with the duo also teaming up to create blockchain games.

The move has predictably been met with criticism from some crypto and NFT hating members of the gaming community, irritated that the firm is continuing to double down its focus on blockchain tech.

In a Sept. 12 announcement, Oasys revealed that Square Enix had jumped on board to be the project’s 21st node validator, taking up the final slot of initial validators.

Moving forward the duo will also team up to develop new games on Oasys’ EVM compatible Proof-of-Stake (PoS) blockchain, which hopes to become a hub for Triple A quality games with Play-to-Earn (P2E) integrations.


#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #oasys #squareenix

A court located in Seoul, South Korea issued a warrant for the arrest of Kwon and five other people who are currently in Singapore.

While the LUNC community rejoices because of a potential comeback for the Terra Luna Classic (LUNC) token, the founder of the Terraform Labs, Do Kwon, is now facing a warrant of arrest from South Korean authorities.

A court located in Seoul reportedly issued a warrant of arrest for Kwon and five other people who are all currently located in Singapore. According to the prosecutor’s office in South Korea, the Terra founder is facing allegations of violating the country’s capital markets law

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Once blockchain games can offer a similar experience to League of Legends or Fortnite they will become more popular, argues Blowfish Studios' Luke Sillay.

Blockchain-based games need to spend more time actually being “fun to play” rather than developing flashy tokenomics, an Animoca Brand-owned blockchain game developer told Cointelegraph.

Speaking to Cointelegraph on the first day of the 2022 Tokyo Games Show, Luke Sillay, the lead community manager at Australia-based game developer Blowfish Studios said that far too many blockchain games have put the focus on in-game rewards and tokenomics rather than gameplay.

Sillay said that generally, many of these games have simplistic game modes that are built around earning, rather than pure enjoyment, and have therefore failed to grasp the attention of traditional gamers thus far.


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In one of three reports released simultaneously Friday, the Treasury Department talks cautiously about stablecoins and CBDC in the context of wider payment technology.
United States President Joe Biden ordered more than a dozen reports to be written when he released his Executive Order (EO) 14067 “Ensuring Responsible Development of Digital Assets.” Five had due dates within 90 days, and the last three were published simultaneously by the Treasury Department on Sept. 16. The reports were prepared in response to instructions in Sections 4, 5 and 7 of the EO.

The report ordered in EO Section 4 is titled “The Future of Money and Payments.” The report looks at the several payment systems currently in use that are operated by the Federal Reserve or the Clearing House, which is owned by a group of major banks. These will be supplemented by the non-blockchain FedNow Service instant payment system that is expected to begin operating in 2023.



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BNB price has entered a symmetrical triangle formation, and the conflicting trends will decide the fate of the altcoin as it battles near $280.

BNB, the native token of Binance’s BNB Chain, entered a symmetrical triangle formation on Aug. 10, when it first faced the descending trendline at the $335 resistance. The following five weeks have been a struggle around $280, the exact intersection between the two conflicting ascending and descending patterns.

A decision on whether the symmetrical triangle will break to the upside or downside is expected by Sept. 30, when the trendlines cross. Currently holding a $45 billion total market capitalization, BNB Chain token has outperformed the broader altcoin market by 15% over the past three months.



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Trust Wallet CEO says the current bear market could provide an opportunity for the Web3 industry to address consumer concerns before the next bull market.

Widespread adoption of Web3 mayeventually become a reality but Trust Wallet CEO Eowyn Chen foresees three main barriers standing in the way of mass adoption.

During the Australian Crypto Convention on Sept. 18, Chen outlined how security, ease of use, identity, and privacy were all vital aspects to address for growth in the Web3 industry.

Chen is the CEO of Trust Wallet, a major multi-chain, non-custodial crypto wallet acquired by Binance two years ago. She was speaking in a keynote presentation that was attended by Cointelegraph reporters on the ground in Queensland, Australia.

On the security front, Chen says protections should be in place to warn users "if a smart contract has potential issues,” such as a connection to a known scammer.


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