1 Minute Market Rundown – 20th June 2022 June 20, 2022 Volatility ReignsUS Bank Holiday May Quieten the Market for a DayCrypto Cracks but Bounces Happy Monday everyone and being a US bank holiday we may get some respite from the constant volatility we have been experiencing. The weekend did not allow us any chance to relax with BTC and ETH dropping through 20,000 and 1000 [...]
Interest rate hikes are a hard lesson for investors who relied on central banks bailouts June 20, 2022 In May last year, I wrote in this newspaper about the risks of moral hazard and the pandemic, with a generation of investors who had developed a skewed sense of risk. After the unprecedented level of central bank intervention, many believed policymakers would always ride to their rescue, providing portfolio safety nets with cheap money [...]
Letters: A vital crypto winter June 20, 2022 [Re: Coinbase to cut staff by 18 per cent as it warns of crypto winter, June 14] Hailed by many cynics as the downfall of crypto, the recent crypto crash is symptomatic of the broader volatility of the crypto market and of the wider economy. Crypto exchanges have grown at a rapid rate over the [...]
Twitter turned WeChat: Musk lays out ambitions for $44bn takeover June 18, 2022 Tesla chief executive Elon Musk has framed his ambitions for Twitter as similar to China's WeChat: an all-encompassing messaging app and social media.
Big crypto crash: Bitcoin tanks below $20,000 for first time since 2020 June 18, 2022 The world’s largest cryptocurrency Bitcoin has tanked below the all-important $20,000 threshold for the first time since 2020, sending shockwaves across crypto world. The great fall comes alongside rising interest rates, as well as central banks’ desperate attempts to curb the swelling 40-year high inflation rates. Bitcoin is down more than 50 per cent since [...]
SpaceX fires employees over letter criticising CEO Musk June 17, 2022 SpaceX fired employees for their part in writing and circulating a letter that criticised CEO Elon Musk, the New York Times reported on Thursday. The rocket manufacturing company reportedly dismissed multiple workers who were involved in the letter, which blasted Musk’s public conduct and urged SpaceX to publicly condemn his Twitter behaviour. “Elon’s behaviour in [...]
Musk, Tesla, and SpaceX sued by Dogecoin investor over alleged “pyramid scheme” June 17, 2022 Elon Musk, Tesla, and SpaceX were hit by a $258bn (£210.2bn) lawsuit on Thursday by a Dogecoin investor accusing them of engaging in a “Crypto Pyramid Scheme (aka Ponzi scheme)” relating to the cryptocurrency. The complaint, filed in a Manhattan court, alleged that the world’s richest man and the two companies he runs, electric vehicle [...]
Friday’s Crypto AM Daily June 17, 2022 The Week in review With Jason Deane The theme of last week’s summary was that the narrow trading range Bitcoin had been in for weeks was “boring, but necessary” as the underlying development work is being ground out without fanfare. But that was last week. This week, Bitcoin and the broader markets were [...]
1 Minute Market Rundown – 17th June 2022 June 17, 2022 Volatility ReignsUSD Bruised But Beaten YetCrypto Holds….For Now Well yesterday was not a day for the faint hearted – again! The SNB and the BOE both raised rates, one surprising the market by its move and one sticking to the script. The BOE acknowledged that inflation is out of control and the market took this [...]
Bitcoin miners hit by crypto crash as prices drop June 16, 2022 The recent crypto rout has hit bitcoin miners hard as prices of Bitcoin and other cryptocurrencies plunged. Miners have cut back on producing more Bitcoin as falling prices reduced the money they made for successfully mining the cryptocurrency. Mining involves using powerful computers to solve complicated puzzles that provide miners with new Bitcoin. The total [...]