Month: June 2022

SOL, DOGE Lead Plunge in Major Cryptos as Traders Warn of ‘Severe Losses’ Ahead

“Some of the most important companies in the world like Apple [AAPL], Microsoft [MSFT] or Nike [NKE] have already reported slowdowns in sales, and Tesla [TSLA] has indicated that layoffs will come soon. These are clearly negative headlines, which combined with higher food and fuel prices, make people be careful about their savings,” Ortiz-Olave said, explaining that a slowdown in consumer spending would lead to a loss of revenue for major companies. Source

How to survive in a bear market? Tips for beginners

Usually, bear markets bring about a feeling of uncertainty in any investor. Even more so for a newcomer, for whom it can feel like the end of the world. It may even be common knowledge that during bull cycles, investors are sure of making gains. Whereas in bear markets such as this, an unimaginable amount of pessimism sets in. The co-founder and strategic lead at the Kylin Network, Dylan Dewdney, told Cryptox that the two major mistakes that investors make while feeling anxious are “One, over-investing and two, not investing…

ViaBTC Capital | After UST’s Fall, Can NEAR’s Stablecoin USN Avoid a Similar Death Spiral?

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Background In May 2022, UST and LUNA, which once recorded a total market cap of over $40 billion, collapsed overnight, and plenty of users suffered huge losses as a result. Following the crash, algorithmic stablecoins have once again become a popular crypto topic. USN, a stablecoin native to an emerging public chain named NEAR, was launched almost at the same time as UST collapsed. The fall of UST showed this nascent stablecoin how the death spiral of an algorithmic stablecoin can engulf and destroy everything like a terrifying black hole,…

bitcoin.. very, very bad news…

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CZ says funds are ‘SAFU’

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Crypto’s Black Monday continues to wreak havoc. Changpeng Zhao, the CEO of crypto exchange Binance, tweeted that there would be a temporary pause on Bitcoin (BTC) withdrawals. Temporary pause of $BTC withdrawals on #Binance due to a stuck transaction causing a backlog. Should be fixed in ~30 minutes. Will update. Funds are SAFU. — CZ Binance (@cz_binance) June 13, 2022 CZ, who often lends his opinion to projects and the market, regularly tweets on behalf of Binance to his 6.4 million followers. He quickly updated the tweet to show:  This…

BTC Drops Below $24,000 to Lowest Level Since December 2020 – Market Updates Bitcoin News

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Bitcoin fell to its lowest level since December 2020 to start the trading week, as crypto markets continue to plunge. ETH also fell considerably on Monday, as prices declined by over 16%, falling below $1,200 in the process. Bitcoin Bitcoin fell to its lowest level since December 2020 on Monday, as crypto markets plunged to start the week. Markets sold off over the weekend following an unexpected rise in U.S. inflation, with price declines carrying over into the new trading week. BTC/USD fell to an intraday low of $23,607.69 earlier…

Binance.US faces class-action lawsuit over LUNA and UST sale

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Binance.US, the sister company of global cryptocurrency exchange Binance, is facing a class-action lawsuit from investors for the sale of LUNA and TerraUSD (UST). A group of investors filed a class-action lawsuit in the Northern District of California on Monday, alleging that Binance sold unregistered securities in the form of LUNA and UST to investors and mislead them into buying them. The lawsuit was filed by law firms Roche Freedman and Dontzin Nagy & Fleissig on behalf of several investors who lost their money during the recent LUNA and UST collapse. The…

Binance pauses bitcoin withdrawals as crypto sell-off deepens

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The logo of cryptocurrency exchange Binance displayed on a smartphone with the word “cancelled” on a computer screen in the background. Budrul Chukrut | SOPA Images | LightRocket via Getty Images Binance said Monday that it is temporarily pausing bitcoin withdrawals “due to a stuck transaction causing a backlog.” At first, Binance founder and CEO Changpeng Zhao said in a tweet that the issue would be fixed within 30 minutes. But he later amended that to say, “Likely this is going to take a bit longer to fix than my…