VRB News
Virtual Reality Brisbane
  • Home
  • About us
  • IT news
  • Tech
  • World
  • Contact
No Result
View All Result
  • Home
  • About us
  • IT news
  • Tech
  • World
  • Contact
No Result
View All Result
No Result
View All Result
Home IT news

Nuri insolvent – What happens to the wallets and funds?

admin by admin
August 12, 2022
in IT news
0
Schriftzug Bankrupt
0
SHARES
43
VIEWS
Share on FacebookShare on Twitter
  • The crypto bank Nuri announced yesterday that it has filed for bankruptcy.
  • The company blames the crisis in the crypto markets.
  • However, customers do not have to worry about their deposits.

One of the few German startups that deals with the trading of cryptocurrencies, among other things, has to capitulate in view of the harsh conditions on the market. At least that’s how Nuri puts it in an official statement. The starting signal for the insolvency proceedings was already given yesterday.

The lending crisis on the crypto market, the collapse of Terra and the general economic situation have put too much of a strain on the company’s liquidity, according to its own account. Business will continue as normal for the time being. On the other hand, the direction in which the insolvency proceedings should develop was left open.

For customers of Nuri, the question now arises as to how to proceed. Here, the partnership with Solarisbank provides the necessary security.

Customer funds are safe

The company’s insolvency application has no direct impact on Nuri’s euro deposits. Customers’ cryptocurrencies are also secure, which are stored either in the bank’s internal wallets or in so-called vaults. While the internal wallets are managed by Solaris Digital Assets GmbH on a fiduciary basis, the customers have control over the self-managed vaults themselves anyway.

The insolvency therefore initially has no direct impact on the assets of the customers. Nevertheless, it was announced yesterday via social media that the systems were overloaded due to the high demand. Apparently, there has already been a kind of exodus by skeptical customers who now want to withdraw their funds as quickly as possible.

Celsius is still a problem

The first signs of Nuri’s impending predicament were already apparent beforehand. So they had to lay off staff and the affiliate program was also discontinued. If the company has to close completely in the end, then that would be a bitter loss for the German crypto scene.

However, the fact that the partner Celsius advertised financial products with the prospect of a fixed return is likely to weigh even more heavily. Since Celsius is also insolvent, the affected customer funds are frozen. Although Celsius is initially responsible, the question arises whether Nuri could not also be held liable in the end.

Therefore, it remains to be seen whether, in the face of these crises, it will be possible to get new investors on board and save the company.

Previous Post

Spinncloud – Trapped in the mills of bureaucracy

Next Post

Bitcoin, Gold – or both? With Vaultoro CEO Josh Scigala

admin

admin

Related Posts

Dedicated Servers
IT news

The advantages of dedicated servers: cost, performance, security

January 27, 2023
Different types of proxies and their benefits for online security
IT news

Different types of proxies and their benefits for online security

January 27, 2023
Image technology: DHL warns against fake SMS – you need to know that fake SMS with supposed address queries from DHL are circulating at the moment. Sometimes the messages seem very authentic. That’s what’s behind it. More…
IT news

Image technology: DHL warns against fake SMS – you need to know that fake SMS with supposed address queries from DHL are circulating at the moment. Sometimes the messages seem very authentic. That’s what’s behind it. More…

January 25, 2023
helpchildreninukraine
IT news

Need for reform in juvenile justice legislation in Ukraine

January 25, 2023
Mercado Libre accuses Apple of monopoly in Mexico; IFT launches investigation
IT news

Mercado Libre accuses Apple of monopoly in Mexico; IFT launches investigation

January 25, 2023
Next Post
BTC-ECHO Experts Podcast

Bitcoin, Gold - or both? With Vaultoro CEO Josh Scigala

Premium Content

Firewall Zero Hour will not have new respawn-based modes

Firewall Zero Hour will not have new respawn-based modes

January 17, 2022
ASCON has released a new version of the system design KOMPAS-3D

ASCON has released a new version of the system design KOMPAS-3D

July 9, 2020
In the Tele2 network – 20 million subscribers

In the Tele2 network – 20 million subscribers

June 21, 2020

Browse by Category

  • Games
  • IT news
  • Tech
  • World

VRB News is ready to cooperate with webmasters and content creators. Send an email to info@virtualrealitybrisbane.com

Categories

  • Games
  • IT news
  • Tech
  • World

Recent Posts

  • The advantages of dedicated servers: cost, performance, security
  • Different types of proxies and their benefits for online security
  • Image technology: DHL warns against fake SMS – you need to know that fake SMS with supposed address queries from DHL are circulating at the moment. Sometimes the messages seem very authentic. That’s what’s behind it. More…

© 2021 - The project has been developed ServReality

No Result
View All Result
  • Home
  • About us
  • IT news
  • Tech
  • World
  • Contact

© 2021 - The project has been developed ServReality

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?