Crypto Crash

Bitcoin
Crypto
Crypto Crash
Cryptocurrency

Bitcoin Hints at a Bottom, But It May Be Different This Time

(Bloomberg) — It’s a perennial exercise whenever an asset is mired in a prolonged and deep drawdown: People look at the charts, they go over this or that indicator and they get their checklists out to try to figure out when it might find a floor. For Bitcoin, there’s plenty of such action happening right […]

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Crypto
Crypto Crash
Cryptocurrency
Cryptocurrency Regulation

Crypto Lender Vauld Freezes Withdrawals, Eyes Restructuring

(Bloomberg) –Vauld, a crypto lender backed by Coinbase Inc., said it froze withdrawals and hired advisers to explore a potential restructuring, joining rivals from Celsius Network to Babel Finance in resorting to last-ditch measures to survive the market rout. The Singapore-based company hired Kroll as financial adviser and Cyril Amarchand Mangaldas and Rajah & Tann […]

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Crypto
Crypto Crash
Cryptocurrency
Cryptocurrency Regulation

Crypto’s Brutal Week Ends With a Trading Halt and a Bailout

(Bloomberg) — The meltdown in cryptocurrency markets deepened this week, as major players contended with liquidations, withdrawal freezes, trading halts — and, at least in one case, a bailout. Crypto broker Voyager Digital Ltd. on Friday announced a suspension of trading, deposits and withdrawals, while BlockFi, a major digital-asset lender, won the backing of exchange […]

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Crypto
Crypto Crash
Cryptocurrency

JPMorgan Says Crypto’s Deleveraging Cycle Won’t Last Much Longer

(Bloomberg) — The current phase of deleveraging in cryptocurrencies is at an advanced state and may not last much longer, according to JPMorgan Chase & Co. Multiple crypto company failures shouldn’t be surprising given huge price declines among tokens, and entities that used higher leverage in the past are the most vulnerable, strategists including Nikolaos […]

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Bitcoin
Crypto
Crypto Crash
Cryptocurrency

‘Bitcoin Jesus’ Roger Ver Spars With Crypto Exchange CoinFlex Over Margin Call

(Bloomberg) — A public dispute between a longtime crypto investor and a digital-asset exchange is the latest in a series of mini-crises that have rocked crypto markets in recent weeks. CoinFlex, a crypto exchange, on Tuesday named Roger Ver as the counterparty who failed to pay $47 million of stablecoin in a margin call. CoinFlex […]

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Crypto
Crypto Crash
Cryptocurrency

Why Margin Calls and Bot Liquidations Are Roiling Crypto

(Bloomberg) — It’s a vicious circle long familiar to those in traditional finance: trades made with borrowed money coming apart when the value of their collateral put up against the loans drops, forcing liquidations that in turn push prices down further. That pattern, driven by so-called margin calls, has come to cryptocurrency markets in a […]

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Crypto
Crypto Crash
Cryptocurrency

Crypto’s Liquidity Troubles Are Spreading Across Platforms

(Bloomberg) — A broad-based selloff in digital assets and the collapse of high-profile tokens TerraUSD and Luna have caused ripple effects across the crypto industry. A wave of liquidations triggered fear of contagion risks. Major lenders Celsius Network and Babel Finance have frozen withdrawals, and Three Arrows Capital, a major crypto hedge fund, is facing […]

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Bitcoin
Crypto
Crypto Crash
Cryptocurrency

Bitcoin Sinks Again as Risk-Off Mood Returns on Recession Fears

(Bloomberg) — Bitcoin resumed a fall on Wednesday, moving in tandem with weakening stocks amid mounting concerns about a global recession. The largest cryptocurrency declined as much as 2.9% to $20,244, holding right above the key $20,000 level. Ether fell by a maximum 3.3% to $1,084.80. Shiba Inu, the 14th-biggest cryptocurrency by market cap, rallied […]

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Crypto
Crypto Crash
Cryptocurrency

Crypto’s Excruciating Week Has Traders Bracing for Next Crisis

(Bloomberg) — It was one of the most dramatic weeks in the short history of the cryptocurrency market, bookended by the type of announcements investors fear the most from a counterparty: We’re sorry, but we just can’t return your money right now. In between, a nascent technocratic industry with grand ambitions to reinvent the financial […]

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Crypto Crash

MicroStrategy’s Losses on Its Bitcoin Bet Near $1 Billion

(Bloomberg) — MicroStrategy Inc. founder and Chief Executive Officer Michael Saylor’s big bet on Bitcoin has backfired in a major way as the paper loss for his firm’s holdings of the largest digital asset has reached roughly $1 billion. Over the last two years the software-maker has shelled out $3.97 billion as it amassed nearly […]

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Bitcoin
Bitcoin Mining
Crypto Crash
Crypto Mining
Cryptocurrency

Bitcoin Miners Are Selling Tokens as Prices Linger Near Lows

(Bloomberg) — Bitcoin miners are beginning to sell tokens they’ve hoarded to cover burgeoning costs with the prospects for industry growth slowing and the price of the largest cryptocurrency showing few signs of rebounding following the recent collapse from record highs. Miners transferred about 195,663 coins to exchanges in May, the biggest monthly increase since […]

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