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July 4, 2022

CRYPTO

Another crypto lender Vauld pauses withdrawals as market crash takes its toll

CNBC
CNBC – For more and to sign up click here 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.......

Major crypto broker Voyager Digital suspends all trading, deposits and withdrawals

CNBC
CNBC – For more and to sign up click here With more than 19,000 virtual currencies in existence, the cryptocurrency industry has likened the current state of the market to the early years of the internet. Industry players said however that most of these coins will collapse. Nurphoto | Getty......

The last remnant of Facebook’s crypto project shuts down September 1

CNBC
CNBC – For more and to sign up click here The logo for Diem, formerly known as Libra, is seen is displayed on a smartphone screen with a Facebook logo in the background. Pavlo Gonchar | SOPA Images | LightRocket via Getty Images Meta plans to shutter its Novi digital......

EU agrees to tame ‘Wild West’ with new crypto market rules

Reuters
Souvenir tokens representing cryptocurrency Bitcoin and the Ethereum network, with its native token ether, plunge into water in this illustration taken May 17, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register LONDON, July 1 (Reuters – Cryptocurrency companies will need a licence and customer safeguards to......

FTX signs a deal giving it the option to buy crypto lender BlockFi

CNBC
CNBC – For more and to sign up click here Sam Bankman-Fried, CEO of cryptocurrency exchange FTX, at the Bitcoin 2021 conference in Miami, Florida, on June 5, 2021. Eva Marie Uzcategui | Bloomberg | Getty Images FTX has signed a deal giving it the option to buy crypto lending......

Crypto billionaire Sam Bankman-Fried says more exchanges will fail: ‘There are companies that are basically too far gone’

CNBC
CNBC – For more and to sign up click here The so-called crypto winter isn’t over yet — and a number of cryptocurrency exchanges have already run out of cash, billionaire and founder of crypto exchange FTX Sam Bankman-Fried said on Tuesday. There are “some third-tier exchanges that are already......

The crypto collapse shows the Fed’s job is ‘almost complete’ against inflation, Jim Cramer says

CNBC
CNBC – For more and to sign up click here CNBC’s Jim Cramer on Thursday said that the rapid slide in the cryptocurrency market shows that the Federal Reserve is making progress in its arduous struggle to tamp down inflation. “There is one front in the war on inflation that’s......

EU agrees on landmark regulation to clean up crypto ‘Wild West’

CNBC
CNBC – For more and to sign up click here Bitcoin is a volatile asset, and has been known to swing more than 10% higher or lower in a single day. Jakub Porzycki | Nurphoto | Getty Images EU officials on Thursday secured an agreement on what is likely to......

FTX closes in on a deal to buy embattled crypto lender BlockFi for $25 million in a fire sale

CNBC
CNBC – For more and to sign up click here Sam Bankman-Fried, chief executive officer of FTX Cryptocurrency Derivatives Exchange, speaks during a House Financial Services Committee hearing in Washington, D.C., U.S., on Wednesday, Dec. 8, 2021. Stefani Reynolds | Bloomberg | Getty Images FTX is swooping in to buy......

Bitcoin falls below $19,000 again as pressure mounts on crypto firms

CNBC
CNBC – For more and to sign up click here 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......

North Korea is likely culprit behind $100 million crypto heist, researchers say

CNBC
CNBC – For more and to sign up click here A photo illustration showing the North Korean flag and a computer hacker. Budrul Chukrut | Sopa Images | Lightrocket | Getty Images North Korean state-sponsored hackers were likely the perpetrators of a hack that led to the theft of around......

Buckle Up: How investors can deal with crypto turbulence

Reuters
Representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, Litecoin are placed on PC motherboard in this illustration taken, June 29, 2021. REUTERS/Dado Ruvic/Illustration/File Photo Register now for FREE unlimited access to Reuters.com Register NEW YORK, June 30 (Reuters) – When Doug Milnes started buying cryptocurrencies in January of this year, he......

This former financial advisor pivoted to teach advisors about crypto: ‘A lot of folks are convinced it’s a fad or it’s a fraud’

CNBC
CNBC – For more and to sign up click here Ric Edelman, founder of the Digital Assets Council of Financial Professionals. Heidi Gutman | CNBC Bitcoin’s recent rout — including its recent drop below $20,000 — has given some cryptocurrency naysayers an “I told you so” moment. “How do you......

Crypto exchange CoinFlex probably won’t resume withdrawals Thursday as planned, says CEO

CNBC
CNBC – For more and to sign up click here Bitcoin and and other cryptocurrencies are in free fall. Dan Kitwood | Getty Images Embattled cryptocurrency exchange CoinFlex will probably not be able to let customers withdraw money again on Thursday as it originally planned, CEO Mark Lamb said on......

Crypto hedge fund Three Arrows Capital plunges into liquidation as market crash takes toll

CNBC
CNBC – For more and to sign up click here Major cryptocurrency hedge fund Three Arrows Capital has fallen into liquidation, a person with knowledge of the matter told CNBC, marking one of the biggest casualties of the latest so-called “crypto winter.” Teneo has been brought on board in the......

Crypto exchange CoinFlex claims ‘Bitcoin Jesus’ is the investor behind $47 million debt

CNBC
CNBC – For more and to sign up click here 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......

Crypto Crash Widens a Divide: ‘Those With Money Will End Up Being Fine’

New York Times
ENGLEWOOD, Colo. — The cryptocurrency market was in ruins. But Tyler and Cameron Winklevoss were jamming. The billionaire twins, best known for their supporting role in the creation of Facebook, twirled and shimmied across the stage with their new cover band, Mars Junction, at a concert venue outside Denver last......

Crypto is not replacing the U.S. dollar, Bitfury CEO Brian Brooks says

CNBC
CNBC – For more and to sign up click here Crypto prices should be viewed more like internet stocks than currency, said Brian Brooks, the former U.S. Acting Comptroller of the Currency during the Trump Administration. The biggest misunderstanding around cryptocurrencies is that if they’re “not doing a great job......

Crypto hedge fund at center of crisis faces risk of default as deadline to repay $670 million nears

CNBC
CNBC – For more and to sign up click here 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.......

U.S. crypto firm Harmony hit by $100 million heist

Reuters
LONDON, June 24 (Reuters) – U.S. crypto firm Harmony said on Friday that thieves stole around $100 million worth of digital coins from one of its key products, the latest in a string of cyber heists on a sector long targeted by hackers. Harmony develops blockchains for so-called decentralised finance......

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