Blockbeat

Get your daily update on all things crypto, blockchain and DeFi with City A.M's Blockbeat from Kaitlin Argeaux

Bitcoin bounces back after biggest US rate rise in quarter century

June 16, 2022

The Bitcoin price has recovered somewhat over the past 24 hours, rising to just below $22k again this morning.
Crypto crash to get worse with deeper price drops as a multibillion-dollar hedge fund struggles to survive

June 15, 2022

The price of leading cryptocurrencies continued to plummet today, with industry experts warning that the “crypto winter” could last for years. Bitcoin dropped about 3.87 per cent per cent today to $21,392.46 trade at $, while Ether fell 3.73% per cent to $1162.52. Bitcoin is now down near 70 per cent from it’s all-time high of [...]
Bill Gates says he’s not involved in crypto or NFTs, mocks them for being based on “greater fool theory”

June 15, 2022

Bill Gates is sceptical of cryptocurrencies and non fungible tokens (NFTs), blasting them for being based on “greater fool theory”. Speaking to TechCrunch on Tuesday, Microsoft’s billionaire ex-CEO said he’s not involved in crypto or NFTs, saying they were “100% based on a sort of greater fool theory, where someone is going to pay more [...]
Bitcoin holds above $20k ahead of US inflation meeting

June 15, 2022

Bitcoin is currently changing hands for just above the $21k level, down another five per cent over the past 24 hours.
Coinbase to cut staff by 18 per cent as it warns of crypto winter

June 14, 2022

Crypto exchange Coinbase will lay off 18 per cent of its workforce as it warned of a recession and a crypto winter. Coinbase CEO Brian Armstrong said the decision was based on the need to manage expenses and increase efficiency as the company looked to “stay healthy during this economic downturn”. “We appear to be [...]
Is the metaverse crashing? How low can crypto markets go?

June 14, 2022

Dr Chris Kacher explains why risk-on assets such as the metaverse are highly vulnerable to major market corrections.
Tough start to the week gets even tougher for Bitcoin

June 14, 2022

The overall market capitalisation of cryptocurrencies fell below $1 trillion for the first time since early 2021, while crypto-related stocks plunged.
Terrible Tuesday for Bitcoin as crypto tumbles 20 per cent in just two days with investors fleeing risk

June 14, 2022

The price of bitcoin fell by another 10 per cent overnight, hitting an 18-month low of $20,834.70, before recovering to trade around $22,700 by 9am UK time this morning. In sterling terms, bitcoin is now trading around £18,665. Discussing the violent movements with City PM this morning, Adrian Lowery, financial analyst at DIY investing platform [...]
Bitcoin mining booms in US, crypto bank sues Federal Reserve, while ‘hodler’ losses mount

June 14, 2022

Data from CryptoCompare shows that the price of Bitcoin started last week testing the resistance at $30,000 but fell sharply.
Crypto plummets as Binance pauses Bitcoin withdrawals and Celsius stops redemptions

June 13, 2022

Major cryptocurrencies plunged on Monday after Binance halted Bitcoin withdrawals and Celsius suspended all redemptions. Bitcoin dropped over 18% while ether fell more than 20% on Monday afternoon after Binance , the world’s largest crypto exchange, suspended Bitcoin withdrawals. The suspension came after crypto lender Celsius announced it would halt withdrawals, swaps, and transfers between [...]