Celsius is bankrupt with $1.2B balance sheet hole, Su Zhu returns to Twitter and OpenSea purges 20% of employees: Hodler’s Digest, July 10-16

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.

Top Stories This Week


OpenSea lays off 20% of its staff, citing ‘crypto winter’

Leading NFT marketplace OpenSea plans to lay off around 20% of its staff, with co-founder and CEO Devin Finzer citing “an unprecedented combination of crypto winter and broad macroeconomic instability” as the reasons behind the move. He also added, “The changes we’re making today put us in a position to maintain multiple years of runway under various crypto winter scenarios (5 years at the current volume), and give us high confidence that we will only have to go through this process once.”


Celsius has filed for bankruptcy

Celsius, the crypto lending platform that has had customer funds locked up for several weeks but previously claimed to be more trustworthy and safer than a bank, filed for Chapter 11 bankruptcy on Wednesday. According to an email received by Celsius customers, the company voluntarily filed petitions for Chapter 11 reorganization and used the same firm as Voyager Digital for its bankruptcy proceedings. It is unclear what will happen with users’ funds at this stage, given there may be a $1.2 billion hole in the firm’s balance sheet.



Polygon selected to participate in Disney’s 2022 Accelerator Program

Earlier this week, Disney invited Ethereum layer-2 scaling solution Polygon to participate in its prestigious 2022 accelerator program. Polygon was the only blockchain to receive an invite despite this year’s program being focused on augmented reality (AR), NFTs and AI. Disney offers participants mentorship from the Disney Accelerator team and guidance from the leadership of Disney itself.


3AC co-founder returns to Twitter, blames liquidators for “baiting”

Su Zhu, the co-founder of defunct and insolvent crypto hedge fund Three…


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