Examiner: Celsius Didn’t Deliver From Inception, Used Customer Funds To Prop Up CEL Token
According to an examiner’s investigation into the crypto lender’s operations before its collapse last year, Celsius Network utilized customer funds to offset shortfalls in its obligations to pay stratospheric yields and to prop up the value of its CEL coin while certain firm insiders were cashing out. Former prosecutor Shoba Pillay has been investigating charges […]
US Senators: Silvergate Failed Miserably
After finding responses to an earlier inquiry to be “evasive and incomplete,” a bipartisan group of US senators, including Democrat Elizabeth Warren and Republicans Roger Marshall and John Kennedy, grilled Silvergate Capital (NYSE: SI) about whether it knew of FTX’s alleged misuse of customer cash. The lawmakers claimed in a letter to CEO Alan Lane […]
IAMGOLD Closes $360 Million Sale Of Rosebel As It Works To Fund Cote Project
IAMGOLD (TSX: IMG) officially has one less asset under its belt. The firm has formally closed a transaction with Zijin Mining, which saw the sale of Rosebel Gold Mines N.V.. The transaction saw IAMGOLD dispose of its 95% interest in the Suriname gold operation for gross proceeds of $360 million in the form of cash. […]
Slave Lake Zinc Obtains Historic Geologic Database For O’Connor Project
Slave Lake Zinc Corp (CSE: SLZ) continues to work to identify priority drill targets at its flagship O’Connor Lake zinc-lead-copper-gold project in the Northwest Territories. The firm indicated yesterday that it has obtained a historic database on the property from exploration production in pre-1952. The historic database is currently in the process of being re-interpreted […]
Bitfarms Sees Flat Bitcoin Production In January As Debt Paydown Continues
Bitfarms Ltd (TSX: BITF) was the first crypto miner to post production figures for the month of January this morning. The firm saw a slight decline in output on a month over month basis, while continuing to sell off its bitcoin holdings. Total bitcoin mined during the month came in at 486, down slightly from […]
Natural Gas Prices Continue To Plummet With No Turning Point In Sight
U.S. natural gas prices continue to fall; benchmark Henry Hub prices crossed through US$2.61 per thousand cubic feet (Mcf) on January 31, the lowest level since April 2021. Warm weather in gas-consuming regions, record U.S. gas production, and a supply crunch in Europe which has proved to be far less problematic than feared (due to extremely […]
White House Targets Russia With Even More Sanctions
The US government has imposed sanctions on Russia-backed Wagner Group, a private military company spearheaded by Yevgeniy Prigozhin, one of Russian President Vladimir Putin’s closest allies. The Treasury Department is now referring to the group as a “transnational criminal organization” and imposed sanctions on eight individuals and 16 entities, many of which are connected to […]
Sam Bankman-Fried Keeps Trying to Reach Out to FTX Employees, Possible Witnesses
Former FTX CEO Sam Bankman-Fried may be banned from using Signal, the encrypted messaging app, following efforts that federal prosecutors believe may “constitute witness tampering.” According to a request filed in Manhattan federal court on Friday, Bankman-Fried had sent a message to the current general counsel of FTX US “who may be a witness at […]
Tesla EVs Are So Expensive to Repair, Insurance Companies Are Just Writing Them Off
Tesla’s (Nasdaq: TSLA) electric vehicles are so expensive to repair that insurers are writing them off even with fewer than 10,000 miles on them. Reuters analyzed data from the United States’ two largest salvage auction houses, Copart and IAA, and found 120 Model Ys totaled after collisions listed at auction in December and early January, […]
Chrystia Freeland: McKinsey’s Dominic Barton Has “Personal Connection” With Me, Justin Trudeau
A video of Deputy Prime Minister & Minister of Finance Chrystia Freeland talking about the “personal connection” with Dominic Barton, former Global Managing Director of McKinsey & Company, has resurfaced, painting a new light on the controversy involving the consulting firm’s contracts with the federal government. Barton, a former senior policy adviser and ambassador to […]