Crypto firms could access Federal Reserve system under Senate bill – The Washington Post

Date:  Comments: 0

The provision — part of a sweeping proposal to regulate the crypto industry that Sens. Cynthia M. Lummis (R-Wyo.) and Kirsten Gillibrand (D-N.Y.) introduced in June — would force the Federal Reserve to grant so-called master accounts to certain crypto firms seeking them from the central bank. The accounts give holders access to the Fed’s...

First Mover Asia: How Inaccurate Data Misled Investors to See Massive Outflows From This Crypto Exchange; BTC Holds Steady Over $20K

Date:  Comments: 0

The largest cryptocurrency by market capitalization was recently trading at about $20,600, up better than a percentage point. Bitcoin had plunged below the psychologically important barrier last week before a late weekend rally. Many analysts have adopted a clear-eyed view of the current crypto climate that has suffered the dual body blows of protocol fiascos...

Crypto Market Chaos: No, Lido Is Not ‘the Next Terra’

Date:  Comments: 0

The “number go up” party is over, retail investors are getting wiped out and billions in losses have been reported across big name balance sheets – fomenting fears that some of the biggest names in DeFi will be forced to liquidate their assets and dump on the market, pushing prices down even further. Today, stETH...

This investor bought a Bored Ape NFT for $1,700 in 2021 and plans to HODL. He explains why the crypto meltdown didn’t stop him from quitting his job to work in Web3.

Date:  Comments: 0

Keith Martin, 31, and his Bored Ape NFT Phil Rosen/Insider Keith Martin bought a Bored Ape NFT in May 2021 for around $1,700 — just as digital assets began to boom. It’s now worth almost 100 times that and he told Insider at the NFT.NYC conference he won’t sell any time soon. To Martin, the...

Celsius Sends $500M of Bitcoin Derivative to Crypto Exchange After Debt Payoff

Date:  Comments: 0

The move comes just after the crypto lender reclaimed $450 million of collateral in WBTC, closing its loan from DeFi lending protocol Maker, blockchain data shows. This content was originally published here.

Crypto firm Celsius pauses transfers, withdrawals as markets tumble

Date:  Comments: 0

 Cryptocurrency lending firm Celsius Network will pause withdrawals and transfers between accounts due to “extreme market conditions,” the company said on Monday, in the latest sign of pressure in the crypto industry. Bitcoin extended earlier declines after Celsius’s announcement, falling more than 6% to as low as $24,888, an 18-month low. Ether , the world’s...

Bitcoin drops below $20,000 as crypto plunge continues | Crypto News | Al Jazeera

Date:  Comments: 0

The price of Bitcoin fell below $20,000 for the first time since late 2020 in a new sign the selloff in cryptocurrencies is deepening. Bitcoin, the most popular cryptocurrency, fell below the psychologically important threshold, dropping as much as 9 percent to less than $19,000, according to CoinDesk, a United States-based exchange platform. The last...

Crypto plunges to its worst in 11 years

Date:  Comments: 0

The crypto market is in worse shape than it’s been in a long time. The market has seen its worst bloodbath in 11 years. Bitcoin’s quarterly returns haven’t been this bad since it traded under $20 on Mt. Gox in the early days. On the other hand, the stock market isn’t doing much better. Bitcoin...

Crypto’s Free Rein May Be Coming to a Close | WIRED

Date:  Comments: 0

While none of these changes will come to pass in the immediate future, and some may never materialize, the age of untrammeled crypto experimentation (and bald-faced crypto scams) might be on the way out. The EU’s MiCA Act is “quite frightening for the crypto industry, actually,” says William O’Rorke, a Paris-based lawyer from ORWL Avocats,...

Crypto Is Crashing. It Deserves to.

Date:  Comments: 0

Photo: Valeria Mongelli/Bloomberg via Getty Images If you’re anything but a die-hard observer of the crypto markets, all the crashes, frauds, Ponzi schemes and criminal indictments that have plagued the market during the past six months have been something of a blur. Crypto is volatile, but it lives at the margins of the financial world....