Three Arrows Capital (3AC) faces deadline to repay loans or default

Three Arrows Capital (3AC) faces deadline to repay loans or default

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 Three Arrows Capital, a crypto-focused hedge … Read more

Hackers steal $100 million in crypto from Harmony’s Horizon bridge

Hackers steal $100 million in crypto from Harmony's Horizon bridge

So-called blockchain bridges have become a prime target for hackers seeking to exploit vulnerabilities in the world of decentralized finance. Jakub Porzycki | NurPhoto | Getty Images Hackers have stolen $100 million in cryptocurrency from Horizon, a so-called blockchain bridge, in the latest major heist in the world of decentralized finance. Details of the attack … Read more

Sam Bankman-Fried rescues crypto lenders BlockFi, Voyager

Sam Bankman-Fried rescues crypto lenders BlockFi, Voyager

With no central bank willing to come to the rescue, beleaguered crypto companies are turning to their peers for help. Billionaire crypto exchange boss Sam Bankman-Fried has signed deals to bail out two firms in as many weeks: BlockFi, a quasi-bank, and Voyager Digital, a digital asset brokerage. FTX, Bankman-Fried’s crypto exchange, agreed Tuesday to … Read more

The future monetary policy is all about CBDCs, not crypto – BIS’ report

The future monetary policy is all about CBDCs, not crypto - BIS' report

(Kitco News) “Anything that crypto can do, CBDCs can do better” is the sentence that describes the Bank for International Settlements’ vision for the future monetary policy system. The future of money is all about central bank digital currencies (CBDCs), not crypto. And that’s because of all the flaws that cryptocurrencies … Read more

Crypto investors’ hot streak ends as harsh ‘winter’ descends

Crypto investors' hot streak ends as harsh 'winter' descends

NEW YORK (AP) — The wealth-generating hot streak for bitcoin and other cryptocurrencies has turned brutally cold. As prices plunge, companies collapse and skepticism soars, fortunes and jobs are disappearing overnight, and investors’ feverish speculation has been replaced by icy calculation, in what industry leaders are referring to as a “crypto winter.” It’s a dizzying … Read more

FTX, other crypto firms ditch sports deals as market collapses

FTX, other crypto firms ditch sports deals as market collapses

Cryptocurrency companies poured billions of dollars into sports sponsorships in 2021 — but this year’s downturn has made the flood of cash dry up, The Post has learned. As a so-called “crypto winter” takes hold and companies look to trim costs, firms that splurged heavily on sports deals last year are now looking to cut … Read more

Bitcoin (BTC) rebounds but struggles to hold above $20,000

Bitcoin (BTC) rebounds but struggles to hold above $20,000

Bitcoin continues to trade around the $20,000 mark, keeping investors on edge about where the price is going next. Nurphoto | Getty Images Bitcoin jumped 10% on Monday after a sharp sell-off over the weekend but continues to teeter around the $20,000 mark, keeping investors on edge. The world’s largest cryptocurrency was trading at $20,648.50 … Read more

What is staked ether (stETH) and why is it causing havoc in crypto?

What is staked ether (stETH) and why is it causing havoc in crypto?

Ether is the second-largest cryptocurrency in the world by market value. Jaap Arriens | NurPhoto via Getty Images Another controversial cryptocurrency is causing havoc in the digital asset market — and this time, it’s not a stablecoin. Staked ether, or stETH, is a token that’s supposed to be worth the same as ether. But for … Read more

Billionaire Investor Mike Novogratz Explains When We Will See ‘Crypto Take Off’

Billionaire Investor Mike Novogratz Explains When We Will See 'Crypto Take Off'

On Thursday (June 16), the day after Federal Reserve Chair Jerome Powell raised his policy interest rate by 0.75%, billionaire Mike Novogratz was asked to share his thoughts on the crypto market. Former hedge fund manager Novogratz is the Founder and CEO of Galaxy Digital, “a technology-driven financial services and investment management firm that provides … Read more

Crypto weekend meltdown: Bitcoin price touches $17k, Ethereum below $900 as renewed selloff sends prices spiraling

Crypto weekend meltdown: Bitcoin price touches $17k, Ethereum below $900 as renewed selloff sends prices spiraling

(Kitco News) The crypto space faced another sharp selloff during the weekend as Bitcoin plunged below $18,000 and Ethereum dropped below $900. The overall crypto market cap plummeted to $847 billion, down nearly 10% on the day. Bitcoin hit $17,677, the lowest level since November 2020, and Ethereum fell to a … Read more