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Crypto Market - More Regulations and Problems

  • FED
  • Celsius
  • Meta
News list

FED votes for crypto regulation, Celsius Network accused of fraud, Meta offers its team to tighten their belts - all that in our new release of crypto news!

FED to Get Tough with Crypto

The USA in general and the FED, in particular, are showing their strict position on crypto regulation again. Lael Brainard, the powerful organisation's vice president, announced that the crypto market needs a strict regulation. We are still feeling the consequences of the huge fall of June when investment funds went bankrupt, and a number of projects and coins crashed; this is direct evidence of the flaws of decentralised finances and the danger they pose to investors.

During the "crashing" June, Jerome Powell, the FED Chair, shared that his institution is keeping a close eye on the crypto market and that, due to relatively small market volumes, the digital industry has no crucial influence on the macro economy.

Meanwhile, the USA understands perfectly well that the international community needs to collaborate to regulate crypto, and the Ministry of Finances has already prepared a bill draft on that. The idea of strict crypto regulation has haunted the White House for quite a while, and from the beginning of this year, the authorities have kept working on their strategies with crypto markets.

FED to Get Tough with Crypto

Celsius Network Gets Hot

The recently so popular platform is out of work, and the users are waiting for their money. Now, to all of the other problems of the project, they are accused of fraud. One of Celcius's ex-partners declared that the company did not fulfil their obligations in revenue share and failed to pay them "millions of dollars".

The accusation of making a pyramid was filed to a New York court by the KeyFi investing company. According to KeyFi, Celcius attracted new investors and promised them high returns, then gave their funds to the previous investors. So, in fact, it was a Ponzi scheme.

The Celsius Network company specialises in crypto loans, crypto deposits, etc. Recently, they shared some inside information on their difficulties due to the extreme market conditions and started restructuring the whole system with the help of side specialists and a team of lawyers. Since June 13th, the company has not been letting its users withdraw their funds or transfer them anywhere. Not so long ago, Celsius started closing bigger loans and returning collaterals. But as soon as the common users had some hope to get their investments back, the company faced another problem of a million-dollar lawsuit.

Celsius Network Gets Hot

Meta - the Winter is Coming The Tech Giant is Preparing to Harder Times

Zuckerberg's brainchild is going through some bad times. The company leaders warned the employees of the problems that they may all face in the nearest future. Meta is suffering through the recent privacy policy changes and also the current tense situation.

Right now, the company is struggling financially, and its employees will have to work to their full as there are no budget inflows expected; the company will even have to stop hiring.

So far, according to CPO Chris Cox, Meta is rivalling TikTok and this competition requires a lot of investments and serious work in all fields, including AI development, Reels promotion, etc. Looks like the Meta users will need to wait for the promised Metaverse for quite a while. Well, let's wait and see; we, of course, will be the first ones to write about that in our crypto news!

Meta - the Winter is Coming The Tech Giant is Preparing to Harder Times

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