On August 16, the crypto lender Celsius Network has been approved by a bankruptcy court judge to sell bitcoin the company previously mined to continue funding specific operations. The following day, the company’s attorney detailed that Celsius has been offered cash injections, but the lawyer did not disclose who offered the funds and how much was presented.
Celsius Approved to Sell Mined Bitcoin, Lawyer Says Firm Approached With Cash Offers, Company’s Mining Operation Has 58,000 Mining Rigs Deployed
A Southern District of New York court order signed by judge Martin Glenn on Wednesday and filed by courtroom deputy Deanna Anderson explains that Celsius has been granted the opportunity to sell bitcoin the company’s mining operation previously mined. In addition to offering crypto lending services, Celsius operated a bitcoin mining operation.
A court document from the company’s lawyer Joshua Sussberg explains that the crypto lending firm’s mining operations mined $8.7 million worth of bitcoin last month. The document notes that bitcoin sales occurred before the petition date on July 13, 2022, and Sussberg’s letter said Celsius had “approximately 58,000 [mining] rigs deployed.”
Sussberg has also told the court that Celsius has received cash-injection offers but did not mention the interested parties or the amount of funds offered. The news follows Ripple Labs saying the company was interested in learning about Celsius and the crypto lender’s assets. Ripple’s statement stemmed from when the company was asked why it wanted to comment on Celsius’s bankruptcy court filings.
Celsius Customer Alleges That Centre Consitorium’s Built-in Safety Measures Should Have Prevented Her From Losing 50,000 USDC
Additionally, a myriad of letters addressed to the Southern District of New York judge Martin Glenn continues to flood the court’s filings. One customer, the retired Carol Becht explained in her letter that she held 50,000 usd coin (USDC) on the Celsius platform. After doing some research about USDC’s backing and how Centre issues the stablecoin, Carol Becht said she could not fathom how her USDC just evaporated. The Celsius customer insisted that the stablecoin USDC should be treated differently because Centre and Circle Financial are regulated and licensed.
“I do not understand how Celsius USDC can just disappear given safety measures built into USDC by Centre, unless Celsius falsified information,” the Celsius customer wrote to judge Glenn. “I do not believe USDC should be treated the same as crypto holdings in Celsius given the above statements,” the letter to the New York judge concludes.
What do you think about the judge giving Celsius the approval to sell mined bitcoin? What do you think about the customer who lost 50,000 USDC? Let us know what you think about this subject in the comments section below.
Jamie Redman
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News about the disruptive protocols emerging today.
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Pi Network price rebounds: 2.7M migrate as bulls target $0.30 breakout
7M users have migrated to Pi mainnet, boosting market confidence. PI Network price is nearing a $0.30 breakout amid tight exchange supply and strong demand. ISO 20022 integration could link Pi to SWIFT and global banking systems. The Pi Network price has staged a strong rebound, with the PI coin surging above key resistance levels…
7M users have migrated to Pi mainnet, boosting market confidence.
PI Network price is nearing a $0.30 breakout amid tight exchange supply and strong demand.
ISO 20022 integration could link Pi to SWIFT and global banking systems.
The Pi Network price has staged a strong rebound, with the PI coin surging above key resistance levels amid renewed market optimism.
This rally comes on the heels of a major mainnet migration involving 2.7 million users and growing anticipation ahead of the network’s ISO 20022 financial integration scheduled for November 22, 2025.
Bulls regain control as Pi Network adoption surges
Pi Network’s market momentum has accelerated in recent days, with the token’s price climbing more than 25% in 24 hours and over 30% over the week.
The price currently hovers near the $0.28 mark, just shy of the psychological $0.30 breakout target eyed by bullish traders.
The price surge follows the completion of mass Know Your Customer (KYC) verification that enabled 2.69 million “Pioneers” to migrate their tokens to the mainnet.
🚨Welcome to the Mainnet! A massive 2.69 million Pioneers have migrated their Pi in the last week alone after a huge KYC verification wave. The ecosystem is expanding rapidly as we approach the Nov 22 ISO 20022 integration. The future of finance is being built now🚀#PiNetworkpic.twitter.com/zU1Myw7oGJ
The migration marks one of the largest transitions in Pi’s history and signals growing confidence in the network’s long-term viability.
This migration has triggered a surge in market demand, particularly as millions of tokens were moved into circulation while exchange supplies tightened.
According to PiScan data, centralised exchanges (CEXs) recorded an inflow of more than 2.422 million PI tokens in the past 24 hours, but this was offset by strong accumulation activity.
Source: PiScan
In October alone, over eight million tokens exited exchanges, reducing available supply by roughly 2.4%.
This supply squeeze has been a key catalyst in Pi’s latest rally, easing sell pressure and fueling upward momentum.
Technical setup supports Pi Network price recovery
Technically, the Pi Network price is displaying a clear attempt to break out of a bullish pattern.
The token recently exceeded the 50-day Exponential Moving Average (EMA) at $0.2627, a level that previously acted as a strong resistance zone.
A sustained movement above $0.28 could be a confirmation of a breakout that could target $0.36 in the short term.
Momentum indicators, however, paint a mixed picture, with the Relative Strength Index (RSI) currently sitting above 58, suggesting the asset is approaching overbought territory.
At the same time, the Money Flow Index (MFI) hints at slowing inflows, creating the possibility of short-term consolidation before another push higher.
A failure to reclaim $0.28 could trigger a pullback toward $0.20, where strong support has held since mid-October.
The network’s strong fundamentals and reduced exchange supply continue to draw traders and long-term holders.
Pi’s recovery from its October low of $0.172 to recent highs around $0.29 underscores the renewed optimism surrounding the project.
ISO 20022 integration boosts real-world confidence
Beyond market charts, Pi Network’s ecosystem continues to mature rapidly.
The project’s upcoming ISO 20022 integration, aligned with the global financial messaging standard, is seen as a gateway to real-world adoption.
The move will allow Pi to connect more efficiently with banking systems, potentially enabling SWIFT compatibility for faster and cheaper cross-border transactions.
Built on the Stellar Consensus Protocol (SCP), Pi Network’s blockchain prioritises scalability, security, and energy efficiency.
This technical framework supports regulatory compliance while minimising environmental impact, positioning Pi alongside ISO 20022-compliant assets like XRP and XLM.
Community confidence has also strengthened as Pi’s automated KYC system verified over 3.36 million users, resolving one of the project’s major bottlenecks.
The growing mainnet base now stands at 2.69 million active users, reflecting sustained ecosystem expansion ahead of the November 22 milestone.
Outlook: Can Pi coin sustain its momentum?
The Pi Network price rebound reflects both technical recovery and growing ecosystem confidence.
While short-term traders eye the $0.30 resistance for signs of continuation, long-term observers point to Pi’s steady progress toward financial standardisation and global interoperability.
As the project approaches its ISO 20022 rollout, Pi Network is steadily bridging the gap between blockchain and traditional finance.
But whether the current bullish run holds or pauses for consolidation, the network’s growing user base, tighter token supply, and upcoming integrations suggest that the Pi Network price may be entering a defining phase in its evolution toward real-world adoption.
Magic Eden price soared more than 35% amid a breakout above the key resistance of $0.50. Trading volume jumped 1,280% to over $129 million to signal buying pressure. “A big week” ahead and other potential catalysts could boost ME bulls. Magic Eden’s native token, ME, has experienced a significant price surge in the past 24…
Magic Eden price soared more than 35% amid a breakout above the key resistance of $0.50.
Trading volume jumped 1,280% to over $129 million to signal buying pressure.
“A big week” ahead and other potential catalysts could boost ME bulls.
Magic Eden’s native token, ME, has experienced a significant price surge in the past 24 hours.
Prices rose to intraday highs above $0.60 for the first time since the October 11 crash, with bulls’ gains coming amid a retest of a key technical barrier.
As the altcoins rank among the top gainers in the 500 largest cryptocurrencies by market cap, buyers are likely to hold the crucial level and target a new leg up.
But what could help ME price in the short term?
Magic Eden among top gainers as price pumps 35%
Per CoinMarketCap data, Magic Eden’s ME token is one of the standout performers in the cryptocurrency arena today.
The token’s 35% uptick in the past 24 hours has come amid a robust trading volume of $129 million – the metric is up 1,280% in the past 24 hours.
This performance has not only outpaced the broader market but also dwarfed top performers such as Pi Network, Virtuals Protocol and Zcash.
ZEC hovered around $270 on October 24, but was near $350 at the time of writing.
On the technical front, ME broke above the critical hurdle at $0.50, reaching intraday highs of $0.60.
While the altcoin is well off its all-time peak above $13.24, bulls have bounced off the all-time low of $0.23.
ME could retest $0.55 or $0.50 before seizing on an uptick across the market to target the psychological $1 mark.
RSI at 60 suggests bulls have more room to aim for gains.
Several factors appear to have converged to ignite this pump.
Notably, the official Magic Eden X account issued a cryptic yet bullish proclamation early this morning: “Big week ahead.”
This post, which garnered over 300 likes and widespread speculation within the community, hinted at impending announcements or developments that could further bolster the platform’s growth.
Such communications from project leads often serve as potent catalysts, drawing in retail traders and amplifying social sentiment.
ME gains also follow the community cheering of the recent acquisition of Dynamic by Fireblocks, which the platforms announced on October 23.
As a key user of Dynamic’s developer platform, Magic Eden could benefit significantly from this integration.
Dynamic powers over 50 million on-chain accounts for industry leaders, including Kraken, Ondo Finance, Magic Eden and zerohash.
Magic Eden’s seamless user onboarding and embedded wallet functionalities for NFT trading across chains.
The deal merges Fireblocks’ institutional-grade custody with Dynamic’s agile tools, creating what executives describe as the “first complete custody-to-consumer stack” for on-chain finance.
Overlaying these platform-specific tailwinds is a broader crypto market rebound.
While gains in October 2025 remain muted as the macroeconomic environment hit risk-on sentiment, Bitcoin’s climb to $116,000 and Ethereum’s break to $4,200 has bulls excited.
The big week for crypto includes a potential rally ahead of a Federal Reserve rate cut, the impact of the US-China trade deal and SEC approval for exchange-traded funds.
The macroeconomic lift could spill over to altcoins like Magic Eden.
Bitcoin Banknote-ATM Network Pilot Launches in El Zonte, El Salvador
Satnotes to dispense 500 satoshi‑denominated banknotes via a community ATM pilot on Jan 1, 2026. The Satnotes El Zonte Experiment announces in El Zonte, El Salvador on 6 November 2025 a pilot launch of the world’s first physical bitcoin banknote ATM network, with the inaugural dispensing of 500 “El Zonte Founding Edition” Satnotes scheduled for […… Read More