Former Celsius Executive Pleads Guilty to Criminal Charges — Roni Cohen-Pavon, the former Chief Revenue Officer of cryptocurrency lending firm Celsius, has pleaded guilty to multiple criminal charges related to fraud and price manipulation. In a filing with the United States District Court for the Southern District of New York, Cohen-Pavon admitted guilt to charges including conspiracy to commit price manipulation, securities fraud, manipulation of security prices, and wire fraud. He has been granted bail and is scheduled for sentencing on December 11. This development follows charges brought by the U.S. Justice Department against Cohen-Pavon and former Celsius CEO Alex Mashinsky earlier this year, with Mashinsky pleading not guilty to all charges. The legal proceedings also involve asset freezes and a bankruptcy case for Celsius Network.
Deutsche Bank Partners with Taurus for Global Crypto Custody Services — Deutsche Bank is teaming up with cryptocurrency infrastructure platform Taurus to provide its customers with cryptocurrency custody services. This partnership comes after Deutsche Bank was among the investors in a $65 million Series B fundraising round for Taurus earlier in 2023. The collaboration underwent rigorous due diligence before Deutsche Bank chose to utilize Taurus’s infrastructure, which allows for the issuance, custody, and trading of various digital assets, including cryptocurrencies and nonfungible tokens. This move aligns with Deutsche Bank’s ongoing efforts to offer cryptocurrency custody and trading services, including its recent application for a digital asset custody license in Germany. The partnership is global in scope, with Taurus tailoring its services to comply with local regulatory requirements, reflecting the growing importance of cryptocurrencies in traditional finance.
Ethereum’s Active Addresses Reach Second-Highest in History, Indicating Potential Market Volatility — Santiment, a market intelligence platform, has reported that Ethereum (ETH) is currently experiencing an increase in daily active addresses, with approximately 1,089,893 recorded on September 13. This surge marks the second-highest number of daily active addresses ever recorded in Ethereum’s history, with the highest count observed on December 9, 2022. Analysts at Santiment believe that this uptick in on-chain activity may lead to increased volatility in the Ethereum market, potentially signaling a path to recovery.
In case you missed it, be sure to catch the recording of our 5th Anniversary AMA session. Hosted by our Chief Strategy Officer, Mr. Robert, it featured prominent figures like Daniel Keller from Casino Coin, Brian Dawson from FireFly, and Frances Coppola. We delved into the crypto industry’s journey and its highs and lows since its inception. Listen to the recording here.
Bitrue kicked off a Million Dollar $BTC Spot Trading Competition. Users can spot trade to share 50 BTC. First place stands a chance to win 20% of the prize pool, which is 10 BTC. For more details, see here.