Billions of dollars of value have been wiped off the cryptocurrency market in the last few weeks. Companies in the industry are feeling the pain. Lending and trading firms are facing a liquidity crisis and many firms have announced layoffs. Yu Chun Christopher Wong | S3studio | Getty Images Crypto lender Vauld on Monday paused … Read more
Macroeconomic pressure During the quarter, the US Federal Reserve carried out two aggressive interest rate hikes to battle rampant inflation. That has sparked fears of a recession in the US and other countries. It has also hit stocks, in particular high-growth technology names. The tech-heavy Nasdaq Composite is down 22.4% for the second quarter, its … Read more
Bitcoin is on track to post its worst quarterly loss in more than a decade. The world’s largest cryptocurrency has lost around 58% of its value in the second quarter of 2022, according to data from CryptoCompare. Bitcoin has fallen from $ 45,524 at the start of the quarter and was trading at around $ … Read more
Embattled cryptocurrency exchange CoinFlex will probably not be able to let customers withdraw money again on Thursday as it was originally planned, CEO Mark Lamb said on Wednesday. “We will need more time. And it’s unlikely that withdrawals will be re-enabled tomorrow,” Lamb told CNBC. However, CoinFlex is in talks with several large funds interested … Read more
Bitcoin price remained under pressure in June as a number of factors including rising rates and a liquidity crisis in the crypto industry weighed on the world’s biggest cryptocurrency. Westend61 | Westend61 | Getty Images Bitcoin on Thursday briefly fell below $ 19,000 as the world’s largest digital currency remains under pressure from macroeconomic worries … Read more
Roger Ver, chief executive officer of Bitcoin.com. Anthony Kwan | Bloomberg | Getty Images Digital asset exchange CoinFlex is locked in a public battle with long-time cryptocurrency investor Roger Ver over a $ 47 million debt, reflecting the latest saga to unfold amid the market crash. On Tuesday, CoinFlex CEO Mark Lamb named Roger Ver, … Read more
Billions of dollars of value have been wiped off the cryptocurrency market in the last few weeks. Companies in the industry are feeling the pain. Lending and trading firms are facing a liquidity crisis and many firms have announced layoffs. Yu Chun Christopher Wong | S3studio | Getty Images Major cryptocurrency hedge fund Three Arrows … Read more
Bitcoin and other cryptocurrencies fell sharply as investors dump risk assets. A crypto lending company called Celsius is pausing withdrawals for its customers, sparking fears of contagion into the broader market. Nurphoto | Nurphoto | Getty Images Bitcoin fell below $ 20,000 on Wednesday as a number of factors from macroeconomic worries to issues with … Read more
A cryptocurrency price crash and the onset of a new so-called “crypto winter” has left many companies in the industry facing a liquidity crisis. Artur Widak | Nurphoto | Getty Images Cryptocurrency exchange CoinFlex on Tuesday issued a new token to raise funds in a bid to restart withdrawals for its customers, after one client … Read more
Crypto prices should be viewed more like internet stocks than currency, said Brian Brooks, the former US Acting Comptroller of the Currency during the Trump Administration. The biggest misunderstanding around cryptocurrencies is that if they’re “not doing a great job of replacing the US dollar, then crypto is failing in its mission,” Brooks, now the … Read more