Crypto crash: forced selling cools down; correlation with equities back in focus

Crypto crash: forced selling cools down;  correlation with equities back in focus

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 Twitter at @FrancesYue_ to send feedback, or tell us what you think we should cover. You can also reach me through email … Read more

More Companies Start to Rescind Job Offers

More Companies Start to Rescind Job Offers

Businesses in several different industries are rescinding job offers they made just a few months ago, in a sign the tightest labor market in decades may be showing cracks. Companies including Twitter Inc. real-estate brokerage Redfin Corp. and cryptocurrency exchange Coinbase Global Inc. have rescinded offers in recent weeks. Employers in other pockets of the … Read more

Stocks Open Higher After S&P 500’s Worst Week in Two Years

Stocks Open Higher After S&P 500's Worst Week in Two Years

US stock futures climbed, offering investors a repossession from a recent stretch of whipsaw trading that had sent stocks and cryptocurrencies falling. Futures for the S&P 500 gained 1.6% on Tuesday, while those for the Dow Jones Industrial Average added 1.4%. Contracts for the Nasdaq-100 jumped 1.6%. The US stock market was closed Monday for … Read more

Trillion-dollar crypto collapse sparks flurry of US lawsuits – who’s to blame?

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: Bitcoin slumps below $20,000 as cryptocurrency rout rolls on US federal regulators say 46,000 people have reported losing $1bn in crypto to scams since … Read more

Bitcoin’s Price Falls Below $20,000

Bitcoin's Price Falls Below $20,000

The price of bitcoin has fallen below the key psychological level of $20,000 as a brutal selloff in cryptocurrencies deepened. Bitcoin fell momentarily to $18,739.50 and stayed below $20,000 on Saturday, according to CoinDesk, losing 72% of its value from its high in November. Concerns about the Federal Reserve’s actions to tame higher-than-expected inflation have … Read more

Crypto Hedge Fund Three Arrows Capital Considers Asset Sales, Bailout

Crypto Hedge Fund Three Arrows Capital Considers Asset Sales, Bailout

Cryptocurrency-focused hedge fund Three Arrows Capital Ltd. has hired legal and financial advisers to help work out a solution for its investors and lenders, after suffering heavy losses from a broad market selloff in digital assets, the firm’s founders said on Friday. “We have always been believers in crypto and we still are,” Kyle Davies, … Read more

Bitcoin crash: These three metrics show how bad the carnage is, and what to expect next

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 Twitter at @FrancesYue_ to send feedback, or tell us what you think we should cover. You can also reach me through email … Read more

Celsius Is Crashing, and Crypto Investors Are Spooked

Celsius Is Crashing, and Crypto Investors Are Spooked

A few months ago, Mike Washburn’s cryptocurrency investment looked like a winner. Now he’s just hoping to get his money back. Mr. Washburn, a 35-year-old plumber in Otsego, Minn., had $100,000 in an account at Celsius Network LLC, one of the largest lenders in the cryptocurrency world. Recently widowed, Mr. Washburn said he and his … Read more

Why stocks and bonds went into relief-rally mode after Fed’s jumbo rate hike

Why stocks and bonds went into relief-rally mode after Fed's jumbo rate hike

Financial markets suffered an absolute bloodbath in the days leading up to Wednesday’s Federal Reserve decision, with stocks plunging and bond yields soaring in the wake of surprisingly hot inflation data — a sign that investors feared a more Volcker-esque reaction from Federal Reserve Chairman Jerome Powell and the rest of the Federal Open Market … Read more

Bitcoin Price Falls Toward $20,000 as Cryptocurrency Rout Deepens

Bitcoin Price Falls Toward $20,000 as Cryptocurrency Rout Deepens

Cryptocurrencies extended their slide Wednesday, with bitcoin on the verge of falling below $20,000 for the first time since December 2020. Bitcoin’s price fell as low as $20,111 in early US trading and was only marginally higher in the afternoon. Most recently, it was at $20,655, down 6.1% from Tuesday’s 5 pm ET price and … Read more