The Times reported that the US had entered a technical recession as GDP shrank 0.9% annually after the second-quarter report was released Thursday. The chart below shows the real GDP of the US compared with the price of Bitcoin since 2017. It can be seen that when GDP declines, the price of Bitcoin trends upwards….
The International Monetary Fund’s (IMF) Director of Monetary and Capital Markets, Tobias Adrian, warned that more crypto projects might fail, particularly stablecoins. The comments made for unwelcome news as investors, still raw from the Terra implosion and subsequent liquidity drain, continue to hold hope that the worst is over. Speaking to Yahoo Finance, Adrian said…
The Federal Reserve, chaired by Jerome Powell, has announced that it will raise interest rates in the U.S. by 75 basis points. The increase matched the market consensus, which some analysts deemed to be priced into the traditional markets. The crypto markets have reacted positively, with Bitcoin up 3% in the moments after the data…
AArk Invest’s trading data for July 25 shows that it sold over 1.41 million Coinbase Global Inc shares due to poor stock performance amid the bear market and an ongoing investigation by the SEC. Coinbase shares closed at $52.93 on July 25, after three Ark funds sold off part of their portfolio. Details of the…
Data compiled by Reuters showed that, despite plummeting crypto prices, investments made by venture capitals are on track to surpass those made in the prior year. However, the raw figures alone do not paint the complete picture. Crypto winter bites down Cryptocurrencies have been trending downwards since the November 2021 peak. The Terra scandal accelerated…
The past few weeks have been turbulent, even for hardened market participants. The crypto market lost massive value, and some players were wiped out. However, this time, there are also big names among these players, such as Singapore-based crypto hedge fund Three Arrows Capital (3AC). 3AC was founded in 2012 by Kyle Davies and Su…
Thailand’s Securities and Exchange Commission (SEC) has launched a public investigation to ascertain the impact of losses incurred by users following the suspension of withdrawals on the Zipmex platform. Users are requested to fill out a form explaining their experience. The direct investigative effort of the SEC with affected users is coming shortly after issuing…
Singapore-based crypto exchange Zipmex said it had obtained a memorandum of understanding from an unnamed party interested in buying the company. 📢 Important Announcement 📢Our conversations with various interested parties have progressed significantly. One of those parties has offered terms in an MOU which includes confidentiality obligations so as to be able to commence Due…
Cryptocurrency platform Crypto.com received regulatory approval from the Cyprus Securities and Exchange Commission (CySEC) just three days after registering with the Italian watchdogs. Crypto.com’s CEO Kris Marszalek said Europe was the first step of the company’s expansion plans. The announcement quotes: “Europe is a priority region for Crypto.com and our continued expansion in the market…
Su Zhu and Kyle Davies, the escaping co-founders of Three Arrows Capital (3AC) have shown up to share their side of the story relating to 3AC’s collapse. They however maintained innocence on rumors about absconding with investors’ funds. In an exclusive interview with Bloomberg, the duo cited high leveraged bets, the fall of the Terra…