Month: July 2022

Enlarge / Celsius CEO Alex Mashinsky addresses the audience at the November 2021 Web Summit in Lisbon, Portugal. (credit: Getty Images | SOPA Images )

Cryptocurrency loan company Celsius filed for bankruptcy under Chapter 11 yesterday, one month after the lender announced it was suspending withdrawals. The petitions for reorganization give Celsius "the best opportunity to stabilize the business, consummate a comprehensive restructuring transaction that maximizes value for all stakeholders, and emerge from Chapter 11 positioned for success in the cryptocurrency industry," the company said.

In an FAQ updated yesterday, Celsius told users that withdrawals are still suspended. As part of the bankruptcy process, Celsius said it "intend[s] to put forward a plan that restores activity across the platform." But it offered no timeline for allowing withdrawals and other suspended transactions again:

On June 12, 2022, we made the difficult but necessary decision to pause withdrawals, Swap, and transfers on our platform to stabilize our business and protect our customers.

Most account activity will be paused until further notice. Withdrawals, Swap, and transfers between accounts will remain paused, and rewards will stop accruing as of the date of the filing. Celsius is not requesting authority [from the bankruptcy court] to allow customer withdrawals at this time.

Existing loans "will continue to be serviced" but "Celsius will not be issuing new loans at this time," the company said. Celsius also said that if it hadn't halted withdrawals, "the acceleration of withdrawals would have allowed specific customers—those who were first to act—to be paid in full while leaving others behind to wait for Celsius to harvest value from illiquid or longer-term asset deployment activities before they receive a recovery."

Hollywood is gearing up for San Diego Comic-Con next week—the first in-person version of the hugely popular and influential convention since the pandemic hit. Prime Video decided this was the perfect time to release a new, nearly two-and-a-half-minute teaser trailer for its upcoming series, The Lord of the Rings: The Rings of Power. It feels very much in the spirit of J.R.R. Tolkien's novels and Peter Jackson's classic film trilogy.

The first teaser for the new eight-part series landed in February during the Super Bowl and gave us some eye-popping views of the quality world-building we can expect. Per the official description:

This epic drama is set thousands of years before the events of J.R.R. Tolkien’s The Hobbit and The Lord of the Rings, and will take viewers back to an era in which great powers were forged, kingdoms rose to glory and fell to ruin, unlikely heroes were tested, hope hung by the finest of threads, and the greatest villain that ever flowed from Tolkien’s pen threatened to cover all the world in darkness. Beginning in a time of relative peace, the series follows an ensemble cast of characters, both familiar and new, as they confront the long-feared re-emergence of evil to Middle-earth. From the darkest depths of the Misty Mountains, to the majestic forests of the elf-capital of Lindon, to the breathtaking island kingdom of Númenor, to the furthest reaches of the map, these kingdoms and characters will carve out legacies that live on long after they are gone.

The large ensemble cast includes Morfydd Clark as a young Galadriel, "now a hardscrabble warrior leading the Northern Armies," who is determined to hunt down her brother's killer. She ends up adrift at sea with a new character named Halbrand (Charles Vickers). All we know about him is that he is "running from his past." Charles Edwards plays Celebrimbor, whom hardcore LOTR fans will recognize as the elven smith who forged the legendary rings.

Enlarge / Don't worry, my sweet. BioWare Points can't hurt you anymore.

Single-player downloadable content for the PC versions of Dragon Age: Origins, Dragon Age II, Mass Effect 2, and Mass Effect 3 will be available for free going forward. The change—which EA is announcing via apparent emails to some Origin users—comes alongside the pending shutdown of the BioWare Points digital currency system.

Those BioWare Points used to be the only way to purchase DLC for the developer's legacy titles. And because those points rarely went on sale, the price of that DLC relative to the heavily discounted base games would sometimes get a little ridiculous. As an angry change.org petition noted in 2015, "to purchase enough BioWare Points to own all DLC for the [Mass Effect] series would total $105; over 3 times the cost of all three base games."

In 2017, though, EA released moderately priced DLC bundles for its legacy BioWare titles, making it much more affordable and convenient to purchase story-based expansions and content packs that offer more character customization options.