Celsius Network LLC has a roughly $1.2 billion hole in its balance sheet, with the majority of its liabilities owed to the cryptocurrency lender’s users, according to a Thursday filing by Chief Execut...
Tag: Foreign Exchange Markets
Euro Slips Below Dollar as Europe’s Economic Fortunes Slump
The euro’s slide below parity with the U.S. dollar reflects Europe’s sinking economic fortunes in the face of the war in Ukraine. But unlike the last time the euro was this weak 20 years ago, nobody i...
Bitcoin Price Could Fall to $13,000 as Crypto Miners Cut Costs
Text size Miners appear to be using less electricity to produce cryptocurrencies. Mark Felix/AFP via Getty Images Bitcoin miners have come under pressure from a one-two punch of rising energy costs an...
Euro slips closer to parity as Goldman warns the ECB could respond more ‘forcefully’ to a weak currency’
As the euro moved ever closer toward parity on Tuesday, one big Wall Street bank warned that investors may be underestimating the firepower of the bloc’s central bank. Pressure resumed on the common c...
Will Coinbase go bankrupt? Crypto CEO says there is ‘no risk of bankruptcy’
““We have no risk of bankruptcy.”” That’s a quote from Brian Armstrong, chief executive and co-founder of cryptocurrency exchange platform Coinbase COIN, -10.63%. In a series of tweets on May 10, Arms...
How Low Can the Euro Go?
The euro is hurtling toward parity with the U.S. dollar for the first time since its early years of existence. Investors are betting it could get a lot worse for the common currency. The descent adds ...
Your retirement portfolio is fundamentally flawed: GMO
All across America, retirees and near-retirees are reeling. They were assured by simplistic “McMoney” financial advisers that bonds were “safe,” that bond returns were steady and predictable, and that...
Peter Thiel-Backed Crypto Lender Vauld Suspends Withdrawals
A cryptocurrency lender backed by Peter Thiel and Coinbase Global Inc. suspended withdrawals, trading and deposits on its platform, citing volatile market conditions and financial difficulties facing ...
Bitcoin Prices Struggle Below $20,000. Why Tuesday Could Bring a Bigger Move.
Text size Bitcoin has failed to consistently breach the key $20,000 mark. Ozan Kose/AFP via Getty Images Bitcoin and other cryptocurrencies were largely unchanged on Monday, with digital assets contin...
Grayscale Bitcoin Trust’s Discount Is Tempting. Why It’s Not a Slam Dunk.
There is a way to buy Bitcoin for nearly a third less than the market price, but investors do so at their peril. That is the broad lesson to draw from the travails of the Grayscale Bitcoin Trust (tick...
Crypto hedge fund Three Arrows files for U.S. bankruptcy
Crypto hedge fund Three Arrows Capital has filed for bankruptcy under Chapter 15 of the U.S. Bankruptcy Code, according to a court filing in the Southern District of New York on Friday. Three Arrows C...
Bitcoin’s Next Headwind: Struggling Crypto Miners
Text size Miners spend an average of $15,000 to produce each coin, JPMorgan estimates. Dreamstime The plummeting price of Bitcoin could force crypto miners to sell the tokens to fund operations, furth...
Gensler labels bitcoin a ‘commodity’ as crypto prices stabilize
Securities and Exchange Commission Chairman Gary Gensler said Monday that bitcoin BTCUSD, -0.24% was the only cryptocurrency he was prepared to publicly label a commodity, rather than a security, in a...
Crypto platform Voyager Digital shares plunge 60% after revealing $665 million exposure to embattled hedge fund; considers issuing default notice
Crypto platform Voyager Digital Ltd. VOYG, -52.50% shares plunged more than 60% Wednesday after the company said its subsidiary Voyager Digital LLC, may issue a notice of default to embattled crypto ...
Stocks are still too expensive and rising rates may shock financial system, Seth Klarman warns
Investment legend Seth Klarman went back to his roots at the Harvard Business School to declare that the stock market is still too pricey even with its slide this year. “You’ve got a stock market that...
Asian markets mostly fall ahead of U.S. holiday
TOKYO (AP) — Asian markets were mostly lower in cautious trading Monday ahead of a federal holiday in the U.S. Worries over inflation and risks of a global recession from central bank efforts to bring...
Bitcoin rallies back above $20,000 on Sunday, after hitting 18-month low
Bitcoin prices rallied Sunday, topping the $20,000 level again after falling to an 18-month low Saturday amid a weeks-long cryptocurrency rout. Bitcoin BTCUSD, +0.48% surged about 16% in the past 24 h...
Trillion-dollar crypto collapse sparks flurry of US lawsuits – who’s to blame?
With investors worldwide looking at a $1.5 trillion in recent cryptocurrency losses, a blizzard of class-action lawsuits are being prepared. One big question is: who, if anyone, is to blame ? See: Bit...
Bitcoin’s Price Falls Below $20,000
The price of bitcoin lurched below $20,000, and below a level widely monitored by cryptocurrency enthusiasts, as a brutal selloff in crypto showed no signs of abating. Bitcoin fell as low as $18,739.5...
Bitcoin slumps below $20,000 as cryptocurrency rout rolls on
Bitcoin traded below $20,000 on Saturday, extending the slide that has wiped out trillions in market value from cryptocurrencies. Bitcoin BTCUSD, -7.07% traded down 8% to $19,029, extending a slide fr...
The Crypto Party Is Over
On Super Bowl Sunday, a Crypto.com ad featuring billionaire NBA star LeBron James lit up millions of Americans’ TVs. “If you want to make history, you gotta call your own shots,” Mr. James said in the...
A Crypto Bankruptcy Could Be Investors’ Nightmare
The cryptocurrency market’s latest swoon is giving investors a painful lesson about the risks of trading digital tokens through intermediaries. In a bankruptcy restructuring, crypto investors would be...
Dogecoin investor sues Elon Musk, Tesla, SpaceX for $258 billion, claiming ‘pyramid scheme’
A dogecoin investor is suing Elon Musk and two of his companies, Tesla Inc. and SpaceX, for $258 billion, accusing them of operating a “pyramid scheme” to inflate the price of the cryptocurrency. The ...
Bitcoin crash: These three metrics show how bad the carnage is, and what to expect next
Hello! Welcome back to Distributed Ledger, our weekly crypto newsletter that reaches your inbox every Thursday. I’ll walk you through what’s going on in the current bear market. As usual, find me on T...
Crypto crash: What contagious risks could Celsius, Three Arrows pose? Here’s what to watch
The latest crisis started Sunday with Celsius, one of the biggest crypto lending platforms, pausing all withdrawals, swaps and transfers between accounts. The company reportedly has hired restructurin...
‘The economy is going to collapse,’ says Wall Street veteran Novogratz. ‘We are going to go into a really fast recession.’
Veteran investor and bitcoin bull Michael Novogratz doesn’t have a rosy outlook on the economy, which he described as headed for a substantial downturn, with the likelihood of a “fast recession” on th...
These companies hopped on the crypto train when times were booming. Which are exposed in a downturn?
During recent cryptocurrency booms, companies have been quick to jump on the trend, whether by reorienting their entire businesses around the buzzy theme, building meaningful crypto features alongside...