Bitcoin and other cryptocurrencies responded positively to the U.S. Federal Reserve’s move to raise interest rates by 75 basis points on Wednesday — the largest single increase since 1994 — in an effort to curb rising inflation. See related article: Crypto on a roller coaster as market braces for Fed guidance on rates Fast facts…
Top blockchain and crypto news: Cryptos sink as inflation rises. Celsius freeze sends CEL token tumbling. Are Inner Mongolia’s miners catching a break?
Crypto markets posted some gains in Asia trading after a pummeling this week, but the sentiment shifted back to negative as markets across the board try to second-guess the Federal Reserve’s thinking on interest rates.
TRON DAO announced it has added US$500 million in USDC to its reserve to bolster its algorithmic stablecoin’s dollar parity, but USDD has been off its peg to the greenback for about two days. See related article: Michael Saylor, MicroStrategy stick to their guns on Bitcoin Fast facts See related article: Bitcoin, Ether bear brunt…
Amid the ongoing insolvency risk, crypto lender Celsius has hired restructuring attorneys from the law firm Akin Gump Strauss Hauer & Feld LLP, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. See related article: CEL down over 50% since Celsius Network’s withdrawal freeze Fast facts Celsius is exploring financing options…
U.S.-based cryptocurrency exchange Coinbase will cut its global workforce by about 18% to ensure it stays “healthy during this economic downturn,” CEO Brian Armstrong said in a blog post. See related article: Coinbase is the first crypto firm to make the Fortune 500 list Fast facts Coinbase will cut approximately 1,100 employees, or 18% of…
MicroStrategy CEO Michael Saylor says the company will not have a margin call on their US$205 million Bitcoin-backed loan after their crypto holdings dropped by over US$1 billion over the past week, according to data from CoinGecko. See related article: MicroStrategy, crypto firm shares plunge with Bitcoin’s freefall Fast facts When MicroStrategy adopted a Bitcoin…
The recently proposed U.S. cryptocurrency bill could undermine the existing regulatory framework for broader capital markets, Securities and Exchange Commission (SEC) Chairman Gary Gensler said on Tuesday. See related article: Hold onto your crypto bags, the regulators are coming Fast facts Speaking at the Wall Street Journal’s CFO Network Summit, Gensler said many crypto companies…
TRON founder Justin Sun on Monday said he will set up a US$2 billion fund to support the dollar peg of the project’s stablecoin USDD and “fight” against short sellers, after the stablecoin’s price fell to US$0.97. See related article: Binance resumes Bitcoin withdrawals Fast facts USDD uses an algorithmic mechanism to keep its dollar…
The total value locked (TVL) in decentralized finance (DeFi) fell to US$63.12 billion as prices across the broad crypto market fell. The declines were highlighted by the TRON algorithmic stablecoin USDD losing parity with the U.S. dollar on Monday, along with a 17% drop in the TRON native token TRX over the past 24 hours. …