A 61-page court filing<\/a> released on Thursday showed that the company was at a $1.2B loss, with $5.5B in liabilities and only $4.3B in assets. With a majority ($4.7B) of the liabilities attributed to the users of the platform. Celcius CEO, Alex Mashinsky stated that \u201cThis is the right decision for our community and company.\u201d<\/li><\/ul>\n\n\n\n<\/div>\n\n\n\n
As per Celcius' announcement, the company will continue to operate. Celcius has over $167M cash in hand, this will \"provide ample liquidity to support certain operations during the restructuring process.\"<\/li><\/ul>\n\n\n\nPrior to filing for bankruptcy, Celcius had paid off over $120M in debt<\/a> to various DeFi<\/a> protocols. This move raised its collateral to safeguard against its liquidation and loss of users' funds which have been frozen on the platform<\/a> since June 12th.<\/li><\/ul>\n\n\n\nMashinsky believes that \u201cthe amount of digital assets on the company\u2019s platform grew faster than the company was prepared to deploy,\u201d and admitted to a series of mistakes involving lending to an unnamed platform with over $440M of the loan still outstanding, and a deal withy Tether falling apart incurring a loss of around $100M.<\/li><\/ul>\n","post_title":"Celcius Files For Bankruptcy Revealing A Billion Dollar Deficit","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"celcius-files-for-bankruptcy-revealing-a-billion-dollar-deficit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/celcius-repays-120m-in-debt-to-safeguard-against-its-liquidation\/","post_modified":"2022-07-17 14:03:22","post_modified_gmt":"2022-07-17 04:03:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6184","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"}; CryptoCom and Coinbase have received the green light to offer their services and products from the regulatory presence in Italy, Organismo Agenti e Mediatori (OAM).<\/p>\n\n\n\n
In an announcement<\/a> from CryptoCom, CEO and Co-Founder Kris Marszalek states that \u201cWe are excited to receive this registration in Italy and view it as a major step forward for Crypto.com.\u201d This allows the distribution of products and services within Italy that comply with local regulations.<\/li><\/ul>\n\n\n\nCoinbase announced<\/a> that its application was approved by the OAM on July 18th. Coinbase V.P. of International and Business Development Nana Murugesan believes that \"gaining this regulatory approval is a testament to our close collaboration and positive working relationship with the Italian financial regulators.\"<\/li><\/ul>\n\n\n\nItaly is the third largest market in the European Union behind Germany and France and it has become a target to expand to for various service providers including Binance which received regulatory approval to offer services<\/a> in early June.<\/li><\/ul>\n\n\n\nThis announcement comes after an impressive marketing campaign from CryptoCom within the last few months including becoming the main sponsor of the World Cup<\/a> and a $700M deal to rename<\/a> the Staples Center to the CryptoCom Arena. Coinbase has been working hard behind the scenes, with this announcement coinciding with its plans to expand further into European markets<\/a>.<\/li><\/ul>\n","post_title":"CryptoCom And Coinbase Expand European Presence With Regulatory Approval In Italy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocom-and-coinbase-expand-european-presence-with-regulatory-approval-in-italy","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/binance-italys-registration-has-been-approved\/\nhttps:\/\/www.thedistributed.co\/crypto-com-is-the-main-sponsor-of-the-2022-world-cup\/","post_modified":"2022-07-21 21:11:31","post_modified_gmt":"2022-07-21 11:11:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6234","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6184,"post_author":"1","post_date":"2022-07-16 17:58:46","post_date_gmt":"2022-07-16 07:58:46","post_content":"\nCryptocurrency lending platform Celcius announced<\/a> that they have filed for chapter 11 bankruptcy.<\/p>\n\n\n\nA 61-page court filing<\/a> released on Thursday showed that the company was at a $1.2B loss, with $5.5B in liabilities and only $4.3B in assets. With a majority ($4.7B) of the liabilities attributed to the users of the platform. Celcius CEO, Alex Mashinsky stated that \u201cThis is the right decision for our community and company.\u201d<\/li><\/ul>\n\n\n\n<\/div>\n\n\n\n
As per Celcius' announcement, the company will continue to operate. Celcius has over $167M cash in hand, this will \"provide ample liquidity to support certain operations during the restructuring process.\"<\/li><\/ul>\n\n\n\nPrior to filing for bankruptcy, Celcius had paid off over $120M in debt<\/a> to various DeFi<\/a> protocols. This move raised its collateral to safeguard against its liquidation and loss of users' funds which have been frozen on the platform<\/a> since June 12th.<\/li><\/ul>\n\n\n\nMashinsky believes that \u201cthe amount of digital assets on the company\u2019s platform grew faster than the company was prepared to deploy,\u201d and admitted to a series of mistakes involving lending to an unnamed platform with over $440M of the loan still outstanding, and a deal withy Tether falling apart incurring a loss of around $100M.<\/li><\/ul>\n","post_title":"Celcius Files For Bankruptcy Revealing A Billion Dollar Deficit","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"celcius-files-for-bankruptcy-revealing-a-billion-dollar-deficit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/celcius-repays-120m-in-debt-to-safeguard-against-its-liquidation\/","post_modified":"2022-07-17 14:03:22","post_modified_gmt":"2022-07-17 04:03:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6184","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"}; Using crypto as a method of payment seems to be in the foresight of many financial institutions around the world. The lack of understanding about how it all works, the insufficient tools to comply with blockchain, and the cloudy regulations<\/a> are the bridges that still need to be crossed by these organizations. <\/p>\n","post_title":"76% Of Financial Institutions To Utilize Crypto By 2025 - Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"76-of-financial-institutions-to-utilize-crypto-by-2025-report","to_ping":"","pinged":"","post_modified":"2023-04-11 00:10:56","post_modified_gmt":"2023-04-10 14:10:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6234,"post_author":"1","post_date":"2022-07-20 21:42:15","post_date_gmt":"2022-07-20 11:42:15","post_content":"\nCryptoCom and Coinbase have received the green light to offer their services and products from the regulatory presence in Italy, Organismo Agenti e Mediatori (OAM).<\/p>\n\n\n\n
In an announcement<\/a> from CryptoCom, CEO and Co-Founder Kris Marszalek states that \u201cWe are excited to receive this registration in Italy and view it as a major step forward for Crypto.com.\u201d This allows the distribution of products and services within Italy that comply with local regulations.<\/li><\/ul>\n\n\n\nCoinbase announced<\/a> that its application was approved by the OAM on July 18th. Coinbase V.P. of International and Business Development Nana Murugesan believes that \"gaining this regulatory approval is a testament to our close collaboration and positive working relationship with the Italian financial regulators.\"<\/li><\/ul>\n\n\n\nItaly is the third largest market in the European Union behind Germany and France and it has become a target to expand to for various service providers including Binance which received regulatory approval to offer services<\/a> in early June.<\/li><\/ul>\n\n\n\nThis announcement comes after an impressive marketing campaign from CryptoCom within the last few months including becoming the main sponsor of the World Cup<\/a> and a $700M deal to rename<\/a> the Staples Center to the CryptoCom Arena. Coinbase has been working hard behind the scenes, with this announcement coinciding with its plans to expand further into European markets<\/a>.<\/li><\/ul>\n","post_title":"CryptoCom And Coinbase Expand European Presence With Regulatory Approval In Italy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocom-and-coinbase-expand-european-presence-with-regulatory-approval-in-italy","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/binance-italys-registration-has-been-approved\/\nhttps:\/\/www.thedistributed.co\/crypto-com-is-the-main-sponsor-of-the-2022-world-cup\/","post_modified":"2022-07-21 21:11:31","post_modified_gmt":"2022-07-21 11:11:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6234","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6184,"post_author":"1","post_date":"2022-07-16 17:58:46","post_date_gmt":"2022-07-16 07:58:46","post_content":"\nCryptocurrency lending platform Celcius announced<\/a> that they have filed for chapter 11 bankruptcy.<\/p>\n\n\n\nA 61-page court filing<\/a> released on Thursday showed that the company was at a $1.2B loss, with $5.5B in liabilities and only $4.3B in assets. With a majority ($4.7B) of the liabilities attributed to the users of the platform. Celcius CEO, Alex Mashinsky stated that \u201cThis is the right decision for our community and company.\u201d<\/li><\/ul>\n\n\n\n<\/div>\n\n\n\n
As per Celcius' announcement, the company will continue to operate. Celcius has over $167M cash in hand, this will \"provide ample liquidity to support certain operations during the restructuring process.\"<\/li><\/ul>\n\n\n\nPrior to filing for bankruptcy, Celcius had paid off over $120M in debt<\/a> to various DeFi<\/a> protocols. This move raised its collateral to safeguard against its liquidation and loss of users' funds which have been frozen on the platform<\/a> since June 12th.<\/li><\/ul>\n\n\n\nMashinsky believes that \u201cthe amount of digital assets on the company\u2019s platform grew faster than the company was prepared to deploy,\u201d and admitted to a series of mistakes involving lending to an unnamed platform with over $440M of the loan still outstanding, and a deal withy Tether falling apart incurring a loss of around $100M.<\/li><\/ul>\n","post_title":"Celcius Files For Bankruptcy Revealing A Billion Dollar Deficit","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"celcius-files-for-bankruptcy-revealing-a-billion-dollar-deficit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/celcius-repays-120m-in-debt-to-safeguard-against-its-liquidation\/","post_modified":"2022-07-17 14:03:22","post_modified_gmt":"2022-07-17 04:03:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6184","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"}; Adopting crypto as a payment method also solves various compliance issues such as crime identification, payment transparency, know-your-customer (KYC), payment tracking, and efficiency while saving time and money, enhanced compliance and security while being less complex than traditional payment methods.<\/p>\n\n\n\n
Using crypto as a method of payment seems to be in the foresight of many financial institutions around the world. The lack of understanding about how it all works, the insufficient tools to comply with blockchain, and the cloudy regulations<\/a> are the bridges that still need to be crossed by these organizations. <\/p>\n","post_title":"76% Of Financial Institutions To Utilize Crypto By 2025 - Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"76-of-financial-institutions-to-utilize-crypto-by-2025-report","to_ping":"","pinged":"","post_modified":"2023-04-11 00:10:56","post_modified_gmt":"2023-04-10 14:10:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6234,"post_author":"1","post_date":"2022-07-20 21:42:15","post_date_gmt":"2022-07-20 11:42:15","post_content":"\nCryptoCom and Coinbase have received the green light to offer their services and products from the regulatory presence in Italy, Organismo Agenti e Mediatori (OAM).<\/p>\n\n\n\n
In an announcement<\/a> from CryptoCom, CEO and Co-Founder Kris Marszalek states that \u201cWe are excited to receive this registration in Italy and view it as a major step forward for Crypto.com.\u201d This allows the distribution of products and services within Italy that comply with local regulations.<\/li><\/ul>\n\n\n\nCoinbase announced<\/a> that its application was approved by the OAM on July 18th. Coinbase V.P. of International and Business Development Nana Murugesan believes that \"gaining this regulatory approval is a testament to our close collaboration and positive working relationship with the Italian financial regulators.\"<\/li><\/ul>\n\n\n\nItaly is the third largest market in the European Union behind Germany and France and it has become a target to expand to for various service providers including Binance which received regulatory approval to offer services<\/a> in early June.<\/li><\/ul>\n\n\n\nThis announcement comes after an impressive marketing campaign from CryptoCom within the last few months including becoming the main sponsor of the World Cup<\/a> and a $700M deal to rename<\/a> the Staples Center to the CryptoCom Arena. Coinbase has been working hard behind the scenes, with this announcement coinciding with its plans to expand further into European markets<\/a>.<\/li><\/ul>\n","post_title":"CryptoCom And Coinbase Expand European Presence With Regulatory Approval In Italy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocom-and-coinbase-expand-european-presence-with-regulatory-approval-in-italy","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/binance-italys-registration-has-been-approved\/\nhttps:\/\/www.thedistributed.co\/crypto-com-is-the-main-sponsor-of-the-2022-world-cup\/","post_modified":"2022-07-21 21:11:31","post_modified_gmt":"2022-07-21 11:11:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6234","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6184,"post_author":"1","post_date":"2022-07-16 17:58:46","post_date_gmt":"2022-07-16 07:58:46","post_content":"\nCryptocurrency lending platform Celcius announced<\/a> that they have filed for chapter 11 bankruptcy.<\/p>\n\n\n\nA 61-page court filing<\/a> released on Thursday showed that the company was at a $1.2B loss, with $5.5B in liabilities and only $4.3B in assets. With a majority ($4.7B) of the liabilities attributed to the users of the platform. Celcius CEO, Alex Mashinsky stated that \u201cThis is the right decision for our community and company.\u201d<\/li><\/ul>\n\n\n\n<\/div>\n\n\n\n
As per Celcius' announcement, the company will continue to operate. Celcius has over $167M cash in hand, this will \"provide ample liquidity to support certain operations during the restructuring process.\"<\/li><\/ul>\n\n\n\nPrior to filing for bankruptcy, Celcius had paid off over $120M in debt<\/a> to various DeFi<\/a> protocols. This move raised its collateral to safeguard against its liquidation and loss of users' funds which have been frozen on the platform<\/a> since June 12th.<\/li><\/ul>\n\n\n\nMashinsky believes that \u201cthe amount of digital assets on the company\u2019s platform grew faster than the company was prepared to deploy,\u201d and admitted to a series of mistakes involving lending to an unnamed platform with over $440M of the loan still outstanding, and a deal withy Tether falling apart incurring a loss of around $100M.<\/li><\/ul>\n","post_title":"Celcius Files For Bankruptcy Revealing A Billion Dollar Deficit","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"celcius-files-for-bankruptcy-revealing-a-billion-dollar-deficit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/celcius-repays-120m-in-debt-to-safeguard-against-its-liquidation\/","post_modified":"2022-07-17 14:03:22","post_modified_gmt":"2022-07-17 04:03:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6184","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"}; The key benefits of using blockchain and crypto for payments. Source: Ripple<\/figcaption><\/figure>\n\n\n\nAdopting crypto as a payment method also solves various compliance issues such as crime identification, payment transparency, know-your-customer (KYC), payment tracking, and efficiency while saving time and money, enhanced compliance and security while being less complex than traditional payment methods.<\/p>\n\n\n\n
Using crypto as a method of payment seems to be in the foresight of many financial institutions around the world. The lack of understanding about how it all works, the insufficient tools to comply with blockchain, and the cloudy regulations<\/a> are the bridges that still need to be crossed by these organizations. <\/p>\n","post_title":"76% Of Financial Institutions To Utilize Crypto By 2025 - Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"76-of-financial-institutions-to-utilize-crypto-by-2025-report","to_ping":"","pinged":"","post_modified":"2023-04-11 00:10:56","post_modified_gmt":"2023-04-10 14:10:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6234,"post_author":"1","post_date":"2022-07-20 21:42:15","post_date_gmt":"2022-07-20 11:42:15","post_content":"\nCryptoCom and Coinbase have received the green light to offer their services and products from the regulatory presence in Italy, Organismo Agenti e Mediatori (OAM).<\/p>\n\n\n\n
In an announcement<\/a> from CryptoCom, CEO and Co-Founder Kris Marszalek states that \u201cWe are excited to receive this registration in Italy and view it as a major step forward for Crypto.com.\u201d This allows the distribution of products and services within Italy that comply with local regulations.<\/li><\/ul>\n\n\n\nCoinbase announced<\/a> that its application was approved by the OAM on July 18th. Coinbase V.P. of International and Business Development Nana Murugesan believes that \"gaining this regulatory approval is a testament to our close collaboration and positive working relationship with the Italian financial regulators.\"<\/li><\/ul>\n\n\n\nItaly is the third largest market in the European Union behind Germany and France and it has become a target to expand to for various service providers including Binance which received regulatory approval to offer services<\/a> in early June.<\/li><\/ul>\n\n\n\nThis announcement comes after an impressive marketing campaign from CryptoCom within the last few months including becoming the main sponsor of the World Cup<\/a> and a $700M deal to rename<\/a> the Staples Center to the CryptoCom Arena. Coinbase has been working hard behind the scenes, with this announcement coinciding with its plans to expand further into European markets<\/a>.<\/li><\/ul>\n","post_title":"CryptoCom And Coinbase Expand European Presence With Regulatory Approval In Italy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocom-and-coinbase-expand-european-presence-with-regulatory-approval-in-italy","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/binance-italys-registration-has-been-approved\/\nhttps:\/\/www.thedistributed.co\/crypto-com-is-the-main-sponsor-of-the-2022-world-cup\/","post_modified":"2022-07-21 21:11:31","post_modified_gmt":"2022-07-21 11:11:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6234","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6184,"post_author":"1","post_date":"2022-07-16 17:58:46","post_date_gmt":"2022-07-16 07:58:46","post_content":"\nCryptocurrency lending platform Celcius announced<\/a> that they have filed for chapter 11 bankruptcy.<\/p>\n\n\n\nA 61-page court filing<\/a> released on Thursday showed that the company was at a $1.2B loss, with $5.5B in liabilities and only $4.3B in assets. With a majority ($4.7B) of the liabilities attributed to the users of the platform. Celcius CEO, Alex Mashinsky stated that \u201cThis is the right decision for our community and company.\u201d<\/li><\/ul>\n\n\n\n<\/div>\n\n\n\n
As per Celcius' announcement, the company will continue to operate. Celcius has over $167M cash in hand, this will \"provide ample liquidity to support certain operations during the restructuring process.\"<\/li><\/ul>\n\n\n\nPrior to filing for bankruptcy, Celcius had paid off over $120M in debt<\/a> to various DeFi<\/a> protocols. This move raised its collateral to safeguard against its liquidation and loss of users' funds which have been frozen on the platform<\/a> since June 12th.<\/li><\/ul>\n\n\n\nMashinsky believes that \u201cthe amount of digital assets on the company\u2019s platform grew faster than the company was prepared to deploy,\u201d and admitted to a series of mistakes involving lending to an unnamed platform with over $440M of the loan still outstanding, and a deal withy Tether falling apart incurring a loss of around $100M.<\/li><\/ul>\n","post_title":"Celcius Files For Bankruptcy Revealing A Billion Dollar Deficit","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"celcius-files-for-bankruptcy-revealing-a-billion-dollar-deficit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/celcius-repays-120m-in-debt-to-safeguard-against-its-liquidation\/","post_modified":"2022-07-17 14:03:22","post_modified_gmt":"2022-07-17 04:03:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6184","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"}; When institutions and enterprises were asked what they believe to be the key benefits of adopting blockchain and cryptocurrencies for payments, the answers showed a broad range of benefits with data security and quality taking first place. Behind that were market expansion, real-time settlement, and transparency.<\/a><\/p>\n\n\n\nThe key benefits of using blockchain and crypto for payments. Source: Ripple<\/figcaption><\/figure>\n\n\n\nAdopting crypto as a payment method also solves various compliance issues such as crime identification, payment transparency, know-your-customer (KYC), payment tracking, and efficiency while saving time and money, enhanced compliance and security while being less complex than traditional payment methods.<\/p>\n\n\n\n
Using crypto as a method of payment seems to be in the foresight of many financial institutions around the world. The lack of understanding about how it all works, the insufficient tools to comply with blockchain, and the cloudy regulations<\/a> are the bridges that still need to be crossed by these organizations. <\/p>\n","post_title":"76% Of Financial Institutions To Utilize Crypto By 2025 - Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"76-of-financial-institutions-to-utilize-crypto-by-2025-report","to_ping":"","pinged":"","post_modified":"2023-04-11 00:10:56","post_modified_gmt":"2023-04-10 14:10:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6234,"post_author":"1","post_date":"2022-07-20 21:42:15","post_date_gmt":"2022-07-20 11:42:15","post_content":"\nCryptoCom and Coinbase have received the green light to offer their services and products from the regulatory presence in Italy, Organismo Agenti e Mediatori (OAM).<\/p>\n\n\n\n
In an announcement<\/a> from CryptoCom, CEO and Co-Founder Kris Marszalek states that \u201cWe are excited to receive this registration in Italy and view it as a major step forward for Crypto.com.\u201d This allows the distribution of products and services within Italy that comply with local regulations.<\/li><\/ul>\n\n\n\nCoinbase announced<\/a> that its application was approved by the OAM on July 18th. Coinbase V.P. of International and Business Development Nana Murugesan believes that \"gaining this regulatory approval is a testament to our close collaboration and positive working relationship with the Italian financial regulators.\"<\/li><\/ul>\n\n\n\nItaly is the third largest market in the European Union behind Germany and France and it has become a target to expand to for various service providers including Binance which received regulatory approval to offer services<\/a> in early June.<\/li><\/ul>\n\n\n\nThis announcement comes after an impressive marketing campaign from CryptoCom within the last few months including becoming the main sponsor of the World Cup<\/a> and a $700M deal to rename<\/a> the Staples Center to the CryptoCom Arena. Coinbase has been working hard behind the scenes, with this announcement coinciding with its plans to expand further into European markets<\/a>.<\/li><\/ul>\n","post_title":"CryptoCom And Coinbase Expand European Presence With Regulatory Approval In Italy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocom-and-coinbase-expand-european-presence-with-regulatory-approval-in-italy","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/binance-italys-registration-has-been-approved\/\nhttps:\/\/www.thedistributed.co\/crypto-com-is-the-main-sponsor-of-the-2022-world-cup\/","post_modified":"2022-07-21 21:11:31","post_modified_gmt":"2022-07-21 11:11:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6234","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6184,"post_author":"1","post_date":"2022-07-16 17:58:46","post_date_gmt":"2022-07-16 07:58:46","post_content":"\nCryptocurrency lending platform Celcius announced<\/a> that they have filed for chapter 11 bankruptcy.<\/p>\n\n\n\nA 61-page court filing<\/a> released on Thursday showed that the company was at a $1.2B loss, with $5.5B in liabilities and only $4.3B in assets. With a majority ($4.7B) of the liabilities attributed to the users of the platform. Celcius CEO, Alex Mashinsky stated that \u201cThis is the right decision for our community and company.\u201d<\/li><\/ul>\n\n\n\n<\/div>\n\n\n\n
As per Celcius' announcement, the company will continue to operate. Celcius has over $167M cash in hand, this will \"provide ample liquidity to support certain operations during the restructuring process.\"<\/li><\/ul>\n\n\n\nPrior to filing for bankruptcy, Celcius had paid off over $120M in debt<\/a> to various DeFi<\/a> protocols. This move raised its collateral to safeguard against its liquidation and loss of users' funds which have been frozen on the platform<\/a> since June 12th.<\/li><\/ul>\n\n\n\nMashinsky believes that \u201cthe amount of digital assets on the company\u2019s platform grew faster than the company was prepared to deploy,\u201d and admitted to a series of mistakes involving lending to an unnamed platform with over $440M of the loan still outstanding, and a deal withy Tether falling apart incurring a loss of around $100M.<\/li><\/ul>\n","post_title":"Celcius Files For Bankruptcy Revealing A Billion Dollar Deficit","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"celcius-files-for-bankruptcy-revealing-a-billion-dollar-deficit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/celcius-repays-120m-in-debt-to-safeguard-against-its-liquidation\/","post_modified":"2022-07-17 14:03:22","post_modified_gmt":"2022-07-17 04:03:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6184","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"}; The biggest point of adoption<\/a> is as a payment method, with over 70% of global financial institutions interested in using blockchain for payments - this includes both centralized and decentralized coins. Making payments was listed as the number 1 reason to hold crypto with 1\/3 (33%) of global consumers considering crypto as a payment method.<\/p>\n\n\n\nWhen institutions and enterprises were asked what they believe to be the key benefits of adopting blockchain and cryptocurrencies for payments, the answers showed a broad range of benefits with data security and quality taking first place. Behind that were market expansion, real-time settlement, and transparency.<\/a><\/p>\n\n\n\nThe key benefits of using blockchain and crypto for payments. Source: Ripple<\/figcaption><\/figure>\n\n\n\nAdopting crypto as a payment method also solves various compliance issues such as crime identification, payment transparency, know-your-customer (KYC), payment tracking, and efficiency while saving time and money, enhanced compliance and security while being less complex than traditional payment methods.<\/p>\n\n\n\n
Using crypto as a method of payment seems to be in the foresight of many financial institutions around the world. The lack of understanding about how it all works, the insufficient tools to comply with blockchain, and the cloudy regulations<\/a> are the bridges that still need to be crossed by these organizations. <\/p>\n","post_title":"76% Of Financial Institutions To Utilize Crypto By 2025 - Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"76-of-financial-institutions-to-utilize-crypto-by-2025-report","to_ping":"","pinged":"","post_modified":"2023-04-11 00:10:56","post_modified_gmt":"2023-04-10 14:10:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6234,"post_author":"1","post_date":"2022-07-20 21:42:15","post_date_gmt":"2022-07-20 11:42:15","post_content":"\nCryptoCom and Coinbase have received the green light to offer their services and products from the regulatory presence in Italy, Organismo Agenti e Mediatori (OAM).<\/p>\n\n\n\n
In an announcement<\/a> from CryptoCom, CEO and Co-Founder Kris Marszalek states that \u201cWe are excited to receive this registration in Italy and view it as a major step forward for Crypto.com.\u201d This allows the distribution of products and services within Italy that comply with local regulations.<\/li><\/ul>\n\n\n\nCoinbase announced<\/a> that its application was approved by the OAM on July 18th. Coinbase V.P. of International and Business Development Nana Murugesan believes that \"gaining this regulatory approval is a testament to our close collaboration and positive working relationship with the Italian financial regulators.\"<\/li><\/ul>\n\n\n\nItaly is the third largest market in the European Union behind Germany and France and it has become a target to expand to for various service providers including Binance which received regulatory approval to offer services<\/a> in early June.<\/li><\/ul>\n\n\n\nThis announcement comes after an impressive marketing campaign from CryptoCom within the last few months including becoming the main sponsor of the World Cup<\/a> and a $700M deal to rename<\/a> the Staples Center to the CryptoCom Arena. Coinbase has been working hard behind the scenes, with this announcement coinciding with its plans to expand further into European markets<\/a>.<\/li><\/ul>\n","post_title":"CryptoCom And Coinbase Expand European Presence With Regulatory Approval In Italy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocom-and-coinbase-expand-european-presence-with-regulatory-approval-in-italy","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/binance-italys-registration-has-been-approved\/\nhttps:\/\/www.thedistributed.co\/crypto-com-is-the-main-sponsor-of-the-2022-world-cup\/","post_modified":"2022-07-21 21:11:31","post_modified_gmt":"2022-07-21 11:11:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6234","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6184,"post_author":"1","post_date":"2022-07-16 17:58:46","post_date_gmt":"2022-07-16 07:58:46","post_content":"\nCryptocurrency lending platform Celcius announced<\/a> that they have filed for chapter 11 bankruptcy.<\/p>\n\n\n\nA 61-page court filing<\/a> released on Thursday showed that the company was at a $1.2B loss, with $5.5B in liabilities and only $4.3B in assets. With a majority ($4.7B) of the liabilities attributed to the users of the platform. Celcius CEO, Alex Mashinsky stated that \u201cThis is the right decision for our community and company.\u201d<\/li><\/ul>\n\n\n\n<\/div>\n\n\n\n
As per Celcius' announcement, the company will continue to operate. Celcius has over $167M cash in hand, this will \"provide ample liquidity to support certain operations during the restructuring process.\"<\/li><\/ul>\n\n\n\nPrior to filing for bankruptcy, Celcius had paid off over $120M in debt<\/a> to various DeFi<\/a> protocols. This move raised its collateral to safeguard against its liquidation and loss of users' funds which have been frozen on the platform<\/a> since June 12th.<\/li><\/ul>\n\n\n\nMashinsky believes that \u201cthe amount of digital assets on the company\u2019s platform grew faster than the company was prepared to deploy,\u201d and admitted to a series of mistakes involving lending to an unnamed platform with over $440M of the loan still outstanding, and a deal withy Tether falling apart incurring a loss of around $100M.<\/li><\/ul>\n","post_title":"Celcius Files For Bankruptcy Revealing A Billion Dollar Deficit","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"celcius-files-for-bankruptcy-revealing-a-billion-dollar-deficit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/celcius-repays-120m-in-debt-to-safeguard-against-its-liquidation\/","post_modified":"2022-07-17 14:03:22","post_modified_gmt":"2022-07-17 04:03:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6184","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"}; Institutional Adoption Of Crypto And Blockchain<\/h2>\n\n\n\n The biggest point of adoption<\/a> is as a payment method, with over 70% of global financial institutions interested in using blockchain for payments - this includes both centralized and decentralized coins. Making payments was listed as the number 1 reason to hold crypto with 1\/3 (33%) of global consumers considering crypto as a payment method.<\/p>\n\n\n\nWhen institutions and enterprises were asked what they believe to be the key benefits of adopting blockchain and cryptocurrencies for payments, the answers showed a broad range of benefits with data security and quality taking first place. Behind that were market expansion, real-time settlement, and transparency.<\/a><\/p>\n\n\n\nThe key benefits of using blockchain and crypto for payments. Source: Ripple<\/figcaption><\/figure>\n\n\n\nAdopting crypto as a payment method also solves various compliance issues such as crime identification, payment transparency, know-your-customer (KYC), payment tracking, and efficiency while saving time and money, enhanced compliance and security while being less complex than traditional payment methods.<\/p>\n\n\n\n
Using crypto as a method of payment seems to be in the foresight of many financial institutions around the world. The lack of understanding about how it all works, the insufficient tools to comply with blockchain, and the cloudy regulations<\/a> are the bridges that still need to be crossed by these organizations. <\/p>\n","post_title":"76% Of Financial Institutions To Utilize Crypto By 2025 - Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"76-of-financial-institutions-to-utilize-crypto-by-2025-report","to_ping":"","pinged":"","post_modified":"2023-04-11 00:10:56","post_modified_gmt":"2023-04-10 14:10:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6234,"post_author":"1","post_date":"2022-07-20 21:42:15","post_date_gmt":"2022-07-20 11:42:15","post_content":"\nCryptoCom and Coinbase have received the green light to offer their services and products from the regulatory presence in Italy, Organismo Agenti e Mediatori (OAM).<\/p>\n\n\n\n
In an announcement<\/a> from CryptoCom, CEO and Co-Founder Kris Marszalek states that \u201cWe are excited to receive this registration in Italy and view it as a major step forward for Crypto.com.\u201d This allows the distribution of products and services within Italy that comply with local regulations.<\/li><\/ul>\n\n\n\nCoinbase announced<\/a> that its application was approved by the OAM on July 18th. Coinbase V.P. of International and Business Development Nana Murugesan believes that \"gaining this regulatory approval is a testament to our close collaboration and positive working relationship with the Italian financial regulators.\"<\/li><\/ul>\n\n\n\nItaly is the third largest market in the European Union behind Germany and France and it has become a target to expand to for various service providers including Binance which received regulatory approval to offer services<\/a> in early June.<\/li><\/ul>\n\n\n\nThis announcement comes after an impressive marketing campaign from CryptoCom within the last few months including becoming the main sponsor of the World Cup<\/a> and a $700M deal to rename<\/a> the Staples Center to the CryptoCom Arena. Coinbase has been working hard behind the scenes, with this announcement coinciding with its plans to expand further into European markets<\/a>.<\/li><\/ul>\n","post_title":"CryptoCom And Coinbase Expand European Presence With Regulatory Approval In Italy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocom-and-coinbase-expand-european-presence-with-regulatory-approval-in-italy","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/binance-italys-registration-has-been-approved\/\nhttps:\/\/www.thedistributed.co\/crypto-com-is-the-main-sponsor-of-the-2022-world-cup\/","post_modified":"2022-07-21 21:11:31","post_modified_gmt":"2022-07-21 11:11:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6234","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6184,"post_author":"1","post_date":"2022-07-16 17:58:46","post_date_gmt":"2022-07-16 07:58:46","post_content":"\nCryptocurrency lending platform Celcius announced<\/a> that they have filed for chapter 11 bankruptcy.<\/p>\n\n\n\nA 61-page court filing<\/a> released on Thursday showed that the company was at a $1.2B loss, with $5.5B in liabilities and only $4.3B in assets. With a majority ($4.7B) of the liabilities attributed to the users of the platform. Celcius CEO, Alex Mashinsky stated that \u201cThis is the right decision for our community and company.\u201d<\/li><\/ul>\n\n\n\n<\/div>\n\n\n\n
As per Celcius' announcement, the company will continue to operate. Celcius has over $167M cash in hand, this will \"provide ample liquidity to support certain operations during the restructuring process.\"<\/li><\/ul>\n\n\n\nPrior to filing for bankruptcy, Celcius had paid off over $120M in debt<\/a> to various DeFi<\/a> protocols. This move raised its collateral to safeguard against its liquidation and loss of users' funds which have been frozen on the platform<\/a> since June 12th.<\/li><\/ul>\n\n\n\nMashinsky believes that \u201cthe amount of digital assets on the company\u2019s platform grew faster than the company was prepared to deploy,\u201d and admitted to a series of mistakes involving lending to an unnamed platform with over $440M of the loan still outstanding, and a deal withy Tether falling apart incurring a loss of around $100M.<\/li><\/ul>\n","post_title":"Celcius Files For Bankruptcy Revealing A Billion Dollar Deficit","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"celcius-files-for-bankruptcy-revealing-a-billion-dollar-deficit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/celcius-repays-120m-in-debt-to-safeguard-against-its-liquidation\/","post_modified":"2022-07-17 14:03:22","post_modified_gmt":"2022-07-17 04:03:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6184","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"}; The report focuses on \"the role of key blockchain use cases like payments and DeFi<\/a>, and the token<\/a> types \u2014 often referred to as \u201cdigital assets\u201d \u2014 for those use cases, including cryptocurrencies, central bank digital currencies<\/a> (CBDCs), non-fungible-tokens<\/a> (NFTs), and more.\" <\/p>\n\n\n\nInstitutional Adoption Of Crypto And Blockchain<\/h2>\n\n\n\n The biggest point of adoption<\/a> is as a payment method, with over 70% of global financial institutions interested in using blockchain for payments - this includes both centralized and decentralized coins. Making payments was listed as the number 1 reason to hold crypto with 1\/3 (33%) of global consumers considering crypto as a payment method.<\/p>\n\n\n\nWhen institutions and enterprises were asked what they believe to be the key benefits of adopting blockchain and cryptocurrencies for payments, the answers showed a broad range of benefits with data security and quality taking first place. Behind that were market expansion, real-time settlement, and transparency.<\/a><\/p>\n\n\n\nThe key benefits of using blockchain and crypto for payments. Source: Ripple<\/figcaption><\/figure>\n\n\n\nAdopting crypto as a payment method also solves various compliance issues such as crime identification, payment transparency, know-your-customer (KYC), payment tracking, and efficiency while saving time and money, enhanced compliance and security while being less complex than traditional payment methods.<\/p>\n\n\n\n
Using crypto as a method of payment seems to be in the foresight of many financial institutions around the world. The lack of understanding about how it all works, the insufficient tools to comply with blockchain, and the cloudy regulations<\/a> are the bridges that still need to be crossed by these organizations. <\/p>\n","post_title":"76% Of Financial Institutions To Utilize Crypto By 2025 - Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"76-of-financial-institutions-to-utilize-crypto-by-2025-report","to_ping":"","pinged":"","post_modified":"2023-04-11 00:10:56","post_modified_gmt":"2023-04-10 14:10:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6603","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6234,"post_author":"1","post_date":"2022-07-20 21:42:15","post_date_gmt":"2022-07-20 11:42:15","post_content":"\nCryptoCom and Coinbase have received the green light to offer their services and products from the regulatory presence in Italy, Organismo Agenti e Mediatori (OAM).<\/p>\n\n\n\n
In an announcement<\/a> from CryptoCom, CEO and Co-Founder Kris Marszalek states that \u201cWe are excited to receive this registration in Italy and view it as a major step forward for Crypto.com.\u201d This allows the distribution of products and services within Italy that comply with local regulations.<\/li><\/ul>\n\n\n\nCoinbase announced<\/a> that its application was approved by the OAM on July 18th. Coinbase V.P. of International and Business Development Nana Murugesan believes that \"gaining this regulatory approval is a testament to our close collaboration and positive working relationship with the Italian financial regulators.\"<\/li><\/ul>\n\n\n\nItaly is the third largest market in the European Union behind Germany and France and it has become a target to expand to for various service providers including Binance which received regulatory approval to offer services<\/a> in early June.<\/li><\/ul>\n\n\n\nThis announcement comes after an impressive marketing campaign from CryptoCom within the last few months including becoming the main sponsor of the World Cup<\/a> and a $700M deal to rename<\/a> the Staples Center to the CryptoCom Arena. Coinbase has been working hard behind the scenes, with this announcement coinciding with its plans to expand further into European markets<\/a>.<\/li><\/ul>\n","post_title":"CryptoCom And Coinbase Expand European Presence With Regulatory Approval In Italy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocom-and-coinbase-expand-european-presence-with-regulatory-approval-in-italy","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/binance-italys-registration-has-been-approved\/\nhttps:\/\/www.thedistributed.co\/crypto-com-is-the-main-sponsor-of-the-2022-world-cup\/","post_modified":"2022-07-21 21:11:31","post_modified_gmt":"2022-07-21 11:11:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6234","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6184,"post_author":"1","post_date":"2022-07-16 17:58:46","post_date_gmt":"2022-07-16 07:58:46","post_content":"\nCryptocurrency lending platform Celcius announced<\/a> that they have filed for chapter 11 bankruptcy.<\/p>\n\n\n\nA 61-page court filing<\/a> released on Thursday showed that the company was at a $1.2B loss, with $5.5B in liabilities and only $4.3B in assets. With a majority ($4.7B) of the liabilities attributed to the users of the platform. Celcius CEO, Alex Mashinsky stated that \u201cThis is the right decision for our community and company.\u201d<\/li><\/ul>\n\n\n\n<\/div>\n\n\n\n
As per Celcius' announcement, the company will continue to operate. Celcius has over $167M cash in hand, this will \"provide ample liquidity to support certain operations during the restructuring process.\"<\/li><\/ul>\n\n\n\nPrior to filing for bankruptcy, Celcius had paid off over $120M in debt<\/a> to various DeFi<\/a> protocols. This move raised its collateral to safeguard against its liquidation and loss of users' funds which have been frozen on the platform<\/a> since June 12th.<\/li><\/ul>\n\n\n\nMashinsky believes that \u201cthe amount of digital assets on the company\u2019s platform grew faster than the company was prepared to deploy,\u201d and admitted to a series of mistakes involving lending to an unnamed platform with over $440M of the loan still outstanding, and a deal withy Tether falling apart incurring a loss of around $100M.<\/li><\/ul>\n","post_title":"Celcius Files For Bankruptcy Revealing A Billion Dollar Deficit","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"celcius-files-for-bankruptcy-revealing-a-billion-dollar-deficit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/celcius-repays-120m-in-debt-to-safeguard-against-its-liquidation\/","post_modified":"2022-07-17 14:03:22","post_modified_gmt":"2022-07-17 04:03:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6184","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
![\"The](\"https:\/\/www.thedistributed.co\/wp-content\/uploads\/2022\/08\/key-benefits-of-using-blockchain-and-crypto-for-payments.png\")