Alex Mashinsky, the CEO of embattled crypto lending company Celsius—which is in the middle of Chapter 11 bankruptcy proceedings—announced he was stepping down from the firm on Tuesday. Celsius, which pledged to pay up to 18% interest on users’ deposited crypto, froze customer withdrawals, swaps and transfers in early June. That came as crypto prices slumped and Three Arrows Capital, a crypto...
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The Electric electric vehicles
The Electric: Western Auto and Battery Makers’ Big Gamble on Indonesian Nickel
For much of the last century, metals companies have made stainless steel from nickel mined in Russia or the Philippines and smelted at temperatures up to 2,900 degrees. But demand for nickel is outstripping supplies because the metal is a key component in most electric vehicle batteries. So metals producers have turned to a new supplier—Indonesia, which possesses vast reserves of a previously...
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