Bitcoin (BTC) posts worst quarter in more than a decade: 5 reasons why

Bitcoin (BTC) posts worst quarter in more than a decade: 5 reasons why

1.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

Unlike resume withdrawals Thursday

Unlike resume withdrawals Thursday

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 Wednesday. “We will need more time. And it’s unlikely that withdrawals will be re-enabled tomorrow,” … Read more

CoinFlex issues new coin to raise funds after investor fails to pay debt

CoinFlex issues new coin to raise funds after investor fails to pay debt

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. Arthur 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

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