Voyager Files for Bankruptcy Citing Contagion in Crypto Markets, Three Arrows Capital’s Loan Default – Featured Bitcoin News

Crypto lender Voyager Digital has filed for Chapter 11 bankruptcy. The company explained that the “prolonged volatility and contagion in the crypto markets” and the default of crypto hedge fund Three Arrows Capital (3AC) on a loan require it “to take deliberate and decisive action now.” Voyager’s Bankruptcy Filing Voyager Digital Ltd. (TSE: VOYG) announced Wednesday that it has filed for Chapter 11 bankruptcy. The announcement details: The company and its main operating subsidiaries filed voluntary petitions for reorganization under Chapter 11 in the U.S. Bankruptcy Court of the Southern…

Risk profile of crypto markets similar to oil and tech: Coinbase

Despite some touting crypto as a hedge against traditional markets, digital assets today share a similar risk profile to commodities such as oil and gas, and tech and pharmaceutical stocks, according to analysis from Coinbase’s chief economist.  The observation comes from a blog post from Coinbase chief economist Cesare Fracassi on July 6, noting that the “correlation between the stock and crypto-asset prices has risen significantly” since the 2020 pandemic. “While for the first decade of its existence, Bitcoin returns were on average uncorrelated with the performance of the stock…

Liquid markets are healthy markets, says Kairon Labs co-founder

Market maker Kairon Labs have been working with projects such as StepApp (FitFi) and Ergo, providing liquidity on over 30 exchanges. Kairon Labs and most other market makers agree that “liquid markets are healthy markets,” as when the markets are liquid, it allows for lower slippage and faster trades to occur, which allows for the fair trade of a token. Cointelegraph spoke with the managing partner Jens Willemen for his comments on current market conditions and a brief explanation of how market makers are able to retain profitability in current…

Mad Money’s Jim Cramer Says Crypto Immolation Shows the Fed’s Job to Tame Inflation Is Almost Complete – Markets and Prices Bitcoin News

The host of Mad Money, Jim Cramer, claims that “With the immolation of crypto, the Fed’s job is almost complete.” He stressed that “one front in the war on inflation that’s been an outstanding total victory for the Fed” is the battle against financial speculation. Jim Cramer on Fed’s Policy, Inflation, Crypto Jim Cramer discussed crypto and the Federal Reserve’s fight against inflation on CNBC’s Mad Money show Thursday. Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website. He began by stating, “crypto…

EU Makes Deal on MiCA Legislation to Regulate Crypto Markets – Regulation Bitcoin News

Representatives of key European Union (EU) institutions and member states reached an agreement on the Markets in Crypto Assets regulatory proposal. The progress in the negotiations over the comprehensive legal framework for the Union’s crypto space comes after earlier this week European officials agreed to adopt a set of anti-money laundering rules for cryptocurrency transactions. EU Parliament, Council, Commission Agree to Tame ‘Wild West’ Crypto Market Negotiators representing the major institutional bodies of the European Union agreed to implement the landmark Markets in Crypto Assets (MiCA) legislation across the 27-strong…

NFT Sales Stave off Crypto Market Downturn This Week With a Slight Uptick in Volume – Markets and Prices Bitcoin News

Non-fungible token (NFT) sales have managed to stay consistent this week while the crypto economy saw more losses over the last seven days. The week prior, $152.9 million in NFT sales were recorded across 18 blockchains and during the past week, $154.3 million in sales were executed. While Ethereum saw the most NFT sales this week, the chain saw a 9.23% decline in ether-based NFT sales volume. NFT’s Avert This Week’s Crypto Downturn as NFT Sales Saw a Modest Increase At the time of writing, approximately $154,366,090 in NFT sales…

Crypto Exchange Coincoinx to Launch Crypto to Fiat Payments App in Venezuela – Emerging Markets Bitcoin News

Coincoinx, a cryptocurrency exchange, will reportedly launch a service that will allow users to skip trading crypto for fiat to make payments in Venezuela. The service, which is called Coinpago, will allow users to make payments in every store and retailer in the country that accepts Pagomovil, a banking service that allows seamless fiat transfers between banks in the country. Coincoinx to Ease Crypto Payments in Venezuela While cryptocurrency is slowly going mainstream, becoming more popular in many locations around the world, there are still many retailers and…

Ethereum (ETH) Bends Toward $1,000 As Doubt Fills Crypto Markets

Ethereum (ETH) traded in tandem with risky assets on the final session of the first half of the year, due to persisting fears of greater inflation and rising interest rates. Some analysts say this might set the stage to more decreases heading into the third quarter. Following a four-day losing skid, ETH’s price fell roughly 6 percent to $1,044 on Thursday. The ETH/USD pair has also broken below its interim rising trendline support, creating an “ascending triangle” pattern in conjunction with a horizontal trendline resistance to the upside. The Ethereum…

Deutsche Bank Predicts Bitcoin Rising to $28K by Year-End — Warns ‘Crypto Free Fall Could Continue’ – Markets and Prices Bitcoin News

Deutsche Bank has predicted that the price of bitcoin will increase nearly 40% from the current level to $28K by the end of the year. The bank’s analysts also warned that “the crypto free fall could continue.” Deutsche Bank’s Bitcoin Price Prediction Deutsche Bank has reportedly predicted that the price of bitcoin will rise to $28,000 by year-end, Bloomberg reported Wednesday, citing an analysis by the bank’s senior economist and market strategist Marion Laboure and research analyst Galina Pozdnyakova. Based on their analysis, bitcoin’s price will rally 38% from the…