Good morning.
The crypto winter had just gotten a little colder when the Celsius Network lender applied for Chapter 11 bankruptcy protection in New York.
The crypto lender said it took the step to stabilize its business and work out a restructuring. Last month he stopped all withdrawals in the middle of a deposit race.
Celsius, which has more than 100,000 creditors, said it has assets and liabilities between $ 1,000 and $ 10 billion.
It is the latest victim of a $ 2 trillion cryptocurrency crack that has wiped out some of the biggest names in the industry and exposed hundreds of thousands of investors to huge losses.
5 things to start the day
1) Billions invested in Boris Johnson-favored green energy technology $ 2.8 billion has been invested in nuclear fusion in the last 12 months
2) Red Wall voters £ 340 worse than southerners Inflation in northern cities is up to a third faster than rising prices in London
3) Netflix reaches an agreement with Microsoft to introduce advertising breaks The streaming giant to launch a cheaper subscription to try to compensate for the loss of customers
4) The Titanic shipyard awards a crucial defense contract after the HMRC line This is the first shipyard defense contract in its 161-year history
5) Scramble for solar panels saves households £ 600 million on their energy bills The number of installations rises to a seven-year high amid the cost of living crisis
What happened overnight
Shares of Hong Kong have risen slightly this morning, with the Hang Seng index rising 0.1%.
The Shanghai composite index fell 0.2%, while the Shenzhen composite index on China’s second-largest stock market also fell 0.2%.
Shares in Tokyo opened lower after moderate losses on Wall Street. The Nikkei 225 benchmark index fell 0.6% in early operations, while the broader Topix index lost 0.7%.
Arrive today
- Economy: unemployment claims (USA), producer price index (USA)
- Company: Ashmore Group, Barratt Developments, Dr. Martens, Experian, Hays, Rio Tinto, Severn Trent (commercial update)