BVI, March 20th, 2024, Chainwire

Mystiko.Network, a prominent Base Layer of Web3, has successfully closed an $18 million seed funding round spearheaded by Peak XV Partners (formerly Sequoia Capital India/SEA). Other notable participants include Samsung Next, Hashkey, Mirana, Signum, Coinlist, Naval Ravikant, Sandeep Nailwal, Gokul Rajaram, Tribe Capital, and Morningstar Ventures.

Within a span of less than a year, Mystiko V1 mainnets have facilitated transactions totaling over $134 million, with 214,000+ transactions conducted across 5 different layer1/layer2 blockchains, engaging 54,000+ unique active on-chain users.

Prior to this funding round, Mystiko.Network has been recognized through prestigious programs such as Binance MVB, Chainlink Startup, Polygon Ecosystem, and Coinlist Seed.

About Mystiko.Network:

Mystiko.Network serves as the foundational layer of WEB3. The Mystiko SDK, known as the universal ZK SDK, offers scalability, interoperability, privacy, and AI capabilities for every blockchain and dApp simultaneously.

Celsius Advisors Seek $2 Billion Withdrawn Before Bankruptcy

As part of the liquidation process for Celsius Network LLC, consultants overseeing the case are urging significant clients to return $2 billion in assets. The demand comes from a committee formed during the bankruptcy proceedings to avoid potential litigation and aid in repaying creditors.

The advisors have initiated communication with clients who withdrew over $100,000 from the platform before the bankruptcy filing. This recovery effort targets around 2% of Celsius users who collectively withdrew approximately 40% of the platform's assets 90 days prior to the Chapter 11 filing.

At the time of the bankruptcy declaration, Celsius Network reported $6 billion in crypto assets, 1.7 million registered users, and 300,000 active users with balances exceeding $100. By mid-August 2022, the company's debts surpassed its assets by $2.85 billion, significantly higher than the initially estimated $1.2 billion shortfall.

Creditors of Celsius Network devised a reorganization plan, largely approved by account holders, aiming to distribute over $3 billion in cryptocurrency and fiat funds to creditors.