Bitcoin closes June down 40% and below $ 20k as markets see recession fears, contagion risks

(Kitco News) The world’s largest cryptocurrency is down 40% in June, ending the month below its key level of $ 20,000. The markets are downbeat as the focus shifts to rising recession fears and more contagion risks in the crypto space. Bitcoin touched a low of $ 18,917 on Thursday, with … Read more

EU agrees to deal on landmark MiCA cryptocurrency regulation

Bitcoin is a volatile asset, and has been known to swing more than 10% higher or lower in a single day. Jakub Porzycki | Nurphoto | Getty Images EU officials on Thursday secured an agreement on what is likely to be the first major regulatory framework for the cryptocurrency industry. The European Commission, EU lawmakers … Read more

Coinbase seeks Europe licenses in bid to expand growth outside US

Coinbase reported a 27% decline in revenues in the first quarter as usage of the platform dipped. Chesnot | Getty Images Coinbase is seeking licenses with various countries in Europe as part of an aggressive expansion in the region. The exchange already has an active presence in the UK, Ireland and Germany, but wants to … Read more

Unlikely to resume withdrawals Thursday

Bitcoin and and other cryptocurrencies are in free fall. Dan Kitwood | Getty Images Embattled cryptocurrency exchange CoinFlex will probably not be able to let customers withdraw money again on Thursday as it was originally planned, CEO Mark Lamb said on Wednesday. “We will need more time. And it’s unlikely that withdrawals will be re-enabled … Read more

Treasury yields fall as traders track economic data, Fed remarks

US Treasury yields were lower on Wednesday as investors continue to assess the economic outlook amid rising recession fears. At around 2:40 am ET, the yield on the benchmark 10-year Treasury note was down at 3.1434% while the yield on the 30-year Treasury bond dropped to 3.2666%. Yields move inversely to prices. As the second … Read more

Crypto Funds Post Record $ 423 Million Outflows As Bitcoin Plunge Rattles Market

Topline Investors piled out of cryptocurrency investment funds at a record pace last week after bitcoin plummeted to its lowest level in 18 months, crypto asset management firm CoinShares reported Monday, highlighting the bearishness that’s coming to a head this month as markets grapple with the Federal Reserve’s reversal or pandemic-era stimulus measures. “Highly polarized … Read more

Bitcoin heading to zero, China warns investors

Beijing: As cryptocurrencies reel under the global downturn, Chinese state-run newspaper Economic Daily has warned investors that the price of leading cryptocurrency Bitcoin is “heading to zero”. The warning came as the cryptocurrency market continued to face meltdown with Bitcoin hovering around $ 21,000 per digital coin on Saturday – a substantial drop from its … Read more

Hackers steal $ 100 million in crypto from Harmony’s Horizon bridge

So-called blockchain bridges have become a prime target for hackers seeking to exploit vulnerabilities in the world of decentralized finance. Jakub Porzycki | NurPhoto | Getty Images Hackers have stolen $ 100 million in cryptocurrency from Horizon, a so-called blockchain bridge, in the latest major heist in the world of decentralized finance. Details of the … Read more

every young trader needs to learn this important lesson

“You can tell every young investor that’s never seen a bear market or never used margin … but until they experience the fear, the darkness and the getting completely wiped down of their account, that’s how you learn,” said celebrity investor Kevin O ‘Leary. Christopher Willard | Disney General Entertainment Content | Getty Images There … Read more