Crypto crash: How prices for bitcoin and ethereum changed in June 2022

Cryptocurrencies like bitcoin BTCUSD, +3.49% and ether ETHUSD, +5.49% have exploded in popularity in recent years, and are now traded by both individual investors and large companies like Tesla TSLA, -0.01%  and Citibank. The total market cap for all crypto nearly hit $3 trillion during parts of 2021 and companies like Robinhood HOOD, -1.16%,  Coinbase COIN, +3.31% … Read more

Crypto crash: How prices for bitcoin and ethereum changed in June 2022

Cryptocurrencies like bitcoin BTCUSD, +3.33% and ether ETHUSD, +4.30% have exploded in popularity in recent years, and are now traded by both individual investors and large companies like Tesla TSLA, -0.05%  and Citibank. The total market cap for all crypto nearly hit $3 trillion during parts of 2021 and companies like Robinhood HOOD, -0.24%,  Coinbase COIN, +3.04% … Read more

Binance CEO says the worst of the crypto crash ‘is probably over’

“‘I think the worst part is probably over. We’ve seen a pretty sharp drop.’” That’s Changpeng Zhao, CEO of cryptocurrency exchange Binance, discussing the recent skid in crypto prices, which some are labeling a full-scale crash. Zhao’s comments were documented by Coindesk crypto writer Sandali Handagama. The event had not released video of the panel … Read more

Bankers who quit for crypto have no regrets amid meltdown: ‘I have never looked back, not one day’

Bankers quitting mainstream finance to capitalise on the boom in digital assets have instead been greeted with a new “crypto winter”. Former staff at JPMorgan, Goldman Sachs and Citigroup have been among those hit as crypto exchange Coinbase cut 1,100 roles and rescinded 300 job offers, while Gemini, Crypto.com and BlockFi have also cut back … Read more

Amundi and PGIM warn of crypto winter: ‘This crash feels different’

Cryptocurrency traders are bracing for more turmoil after a market meltdown claimed more than 1,000 jobs and put the industry on the brink of a ‘crypto winter’. Investors were left hoping for some respite after bitcoin plunged last week to lows not seen since 2020, lending platforms Celsius and Babel froze withdrawals and crypto exchange Coinbase … Read more

Shorting crypto stocks has led to ‘substantial’ paper gains, but it’s getting harder to join in on the trend

The short selling of cryptocurrency-related stocks has yielded “substantial” mark-to-market profits this year, but those looking to get in on the action may have more trouble doing so going forward. Short sellers in a basket of 15 crypto stocks including Coinbase Global Inc. COIN, +8.07%, MicroStrategy Inc. MSTR, +9.92%, and crypto miners like Marathon Digital … Read more

Crypto lender Celsius had been dogged by red flags for months before withdrawal freeze

The red flags started waving around cryptocurrency lending platform Celsius Networks late last year. That’s when the company’s then-chief financial officer, Yaron Shalem, was charged in Israel in connection with an alleged crypto scam that Israeli police say defrauded victims around the world. The alleged fraud predated Shalem’s days working for Celsius, but his arrest … Read more

Binance resumes bitcoin withdrawals as crypto prices crater

The world’s largest cryptocurrency exchange, Binance, resumed withdrawals of bitcoin after it instituted a “temporary pause” Monday morning that latest several hours, the company said. Binance founder and CEO Changpeng Zao announced the pause on Twitter earlier in the day. “Withdrawals on the Bitcoin network have now resumed,” the company said in a statement on … Read more

Coinbase stock sinks as anxiety builds in crypto market

Shares of Coinbase Global Inc. were cratering toward one of their largest drops on record Monday after a different cryptocurrency platform’s decision to pause withdrawals and transfers led to further jitters about the market for digital assets. Coinbase’s stock COIN, -11.02% was down about 14% in Monday morning trading, after falling as much as 21.6% … Read more

‘I thought it was a bad joke’: They gave up another job offer to work at Coinbase, and are now unemployed

When Hao Jia received an email from Coinbase that his job offer had been cancelled, he was on his way to watch “Top Gun: Maverick,” the blockbuster film starring Tom Cruise. Jia’s boyfriend had asked her to watch it because she was in China, where the film had not yet been released, and couldn’t watch … Read more