Tag Archives: crypto

Vauld, a Singapore-headquartered crypto lending and exchange startup, has suspended withdrawals, trading and deposits on its eponymous platform with immediate effect as it navigates “financial challenges,” it said Monday. The startup — which counts Peter Thiel-backed Valar Ventures, Coinbase Ventures and Pantera Capital among its backers and has raised about $27 million — said it is facing financial challenges amid the market downturn and has seen customer withdrawals of about $198 million… Source link

Keith Martin, 31, and his Bored Ape NFTPhil 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 crypto bear market is not a concern, and he even quit his job to get into Web3. When Keith Martin bought his first Bored Ape Yacht Club non-fungible token in May last year, he paid less than $500 and seemed… Source link

(Bloomberg) — Most Read from Bloomberg With crypto prices tumbling precipitously, traders have begun increasingly turning against one another to eke out ever-elusive profits. Many shark traders scour blockchains — digital ledgers for recording transactions — seeking information on other traders, particularly those with highly leveraged positions, an anonymous user known as Omakase, a contributor to the Sushi decentralized exchange, said in an interview. The sharks then attack the positions by… Source link

Jesse Powell is the founder and CEO of crypto exchange Kraken.Kraken Kraken’s CEO is offering four months’ pay for employees who don’t agree with his values to leave. The program is dubbed “Jet Ski,” and employees have until June 20 to take part, the New York Times reported. “We want it to feel like you are hopping on a jet ski and heading happily to your next adventure!” read a memo about the project. Kraken, one of the world’s largest cryptocurrency exchanges, will pay employees four months’… Source link

Investors had nowhere to hide on Monday as both the stock market and cryptocurrencies tumbled. The rout followed yet another report of high inflation on Friday that has investors concerned the Federal Reserve will continue its aggressive interest rate hikes, thereby increasing the odds of a U.S. recession. The cryptocurrency market saw its total market cap drop by roughly 12% on Monday to just $980 billion. The sector as a whole has now seen more than $2 trillion in losses since its November… Source link

(Bloomberg) — Celsius Network Ltd. paused withdrawals, swaps and transfers after weeks of speculation over the sustainability of the outsized returns being offered by the DeFi lending platform, fueling a broad cryptocurrency selloff. Most Read from Bloomberg Crypto markets tumbled after the Celsius announcement, with Bitcoin dropping as much as 14% to the lowest level since December 2020 and other major tokens like Ether also falling sharply. Celsius’s CEL token was down about 50% to 19… Source link

Hey everyone, and welcome back to Chain Reaction. Last week, we discussed $4.5 billion in new crypto funds from a16z. This week, we’re talking about the arrest that has everyone in the NFT space sweating bullets. If you want to get this in you inbox every Thursday afternoon, you can subscribe on TechCrunch’s newsletter page. Ocean climate tech Image Credits: Getty Images crimes of the future The crypto space has been moving so quickly over the past couple years that builders have generally seemed… Source link

DAVOS, Switzerland — The crypto faithful shouldn’t expect Bank of America to make a major push into the sector anytime soon. “No,” replied Bank of America CEO Brian T. Moynihan when Yahoo Finance Live asked him at the World Economic Forum whether he felt like the company was missing out on the next big thing by not aggressively moving into crypto (full interview above). Moynihan — who has driven a major digital banking transformation as BofA’s CEO for the last 12 years — explained the… Source link

(Bloomberg) — Crypto had another bad week — and it may only get weirder. Most Read from Bloomberg Bitcoin led a decline in digital assets across the whole crypto spectrum, with the world’s largest token set for an eighth straight weekly loss in its longest such slump since August 2011. Bitcoin fell 2.4% on Friday to about $28,700 as of 5 p.m. in New York, buffeted by both the macro headwinds of Federal Reserve monetary tightening and the crypto-specific fallout from this month’s implosion… Source link

Acting Comptroller of the Currency Michael Hsu said this week that hype is a serious risk for cryptocurrencies and likened certain crypto transactions to Ponzi schemes, warning that the crypto space is very dangerous for investors of modest means. The comments come after the collapse of stablecoin TerraUSD (UST-USD) on May 9 reverberated through the cryptocurrency market. “The recent collapse of the TerraUSD stablecoin and associated sell-off in crypto markets has shown that hype-driven… Source link