Cryptocurrencies News
- Reuters
MILAN (Reuters) – Swiss bank UBS is working to offer digital services that allow customers to buy real assets, but would advise them to stay away from crypto assets based purely on algorithms, Chief Executive Ralph Hamers said on Tuesday.
- Reuters
(Reuters) – Coinbase Global Inc said on Tuesday it would slash 18% of its workforce, or about 1,100 jobs, as a part of its efforts to cut costs amid volatile market conditions.
- Reuters
WASHINGTON (Reuters) – U.S. Securities and Exchange Commission (SEC) Gary Gensler said on Tuesday that investors should beware of promised returns from crypto lending platforms and products that seem “too good to be true.”
- Joel Frank
Cryptocurrencies are consolidating on Tuesday after Monday’s collapse triggered by Fed rate hike and recession fears.
- Sujha Sundararajan
Bailey’s comments on cryptos come amid the shrinking global cryptocurrency market driven by a massive selloff by investors amid crypto withdrawal halts.
- Reuters
By Huw Jones LONDON (Reuters) – European Union financial services chief Mairead McGuinness on Tuesday urged the bloc’s lawmakers to agree on bank capital rules to keep the sector resilient as it emerges from the pandemic and markets fragment due to war in Ukraine.
- Reuters
By Lisa Pauline Mattackal and Medha Singh
- Martin Young
The crypto winter is deepening and the final capitulation appears to be in full swing as total market capitalization tanks to its lowest level for 18 months, but has Bitcoin finally bottomed?
- Reuters
SAN SALVADOR (Reuters) – El Salvador’s Finance Minister Alejandro Zelaya on Monday dismissed concerns that a sharp drop in the value of bitcoin could hurt the Central American nation’s fiscal health.
- Reuters
(Reuters) – Crypto lender Celsius Network Ltd said on Sunday it was pausing all swaps, transfers and withdrawals between accounts, due to extreme market conditions.
- Reuters
(Reuters) – Bitcoin dropped 12.1% to $23,366 at 2002 GMT on Monday, losing $3,218.95 from its previous close.
- Reuters
By Luc Cohen NEW YORK (Reuters) – Binance U.S. and its CEO were sued on Monday by a U.S. investor who alleges the cryptocurrency exchange falsely marketed Terra USD as a safe asset ahead of the so-called stablecoin’s collapse in value last month.
- Aaryamann Shrivastava
The bank plans on eventually including money market fund shares and other assets as well, as collateral in its DeFi pools.
- Reuters
By Tom Wilson, Elizabeth Howcroft and Hannah Lang
- Reuters
LONDON (Reuters) – Bitcoin’s slump on Monday after major U.S. crypto lending company Celsius Network froze withdrawals should remind investors that most crypto-assets have no intrinsic value, Bank of England Governor Andrew Bailey said.
- Sujha Sundararajan
Crypto lender Celsius transferred around 50,000 ETH today alone, and about 9,500 WBTC to the FTX exchange for an undisclosed reason.
- Joel Frank
Bitcoin’s price fell into the $23,000s and Ethereum’s price below $1,200 on Monday, both at annual lows.
- Reuters
LONDON (Reuters) – The value of the cryptocurrency market on Monday fell below $1 trillion for the first time since January 2021, according to data site CoinMarketCap, reaching as low as $926 billion.
- Martin Young
Ethereum prices have been absolutely hammered over the weekend, sending the world’s second-largest digital asset back below its 2018 price peak.
- Bob Mason
Bitcoin is on target for a tenth weekly loss in 11 weeks, with investor sentiment towards inflation and Fed monetary policy doing the damage in the week.