Crypto Feels Shockwaves From Its Own ‘Credit Crisis’

Crypto Feels Shockwaves From Its Own Credit Crisis

The deflating digital asset bubble has exposed a fragile system of credit and leverage in crypto similar to the credit crunch that enveloped the traditional financial sector in 2008. Since its inception, crypto enthusiasts have promised a future of vast personal fortunes and the foundations of a new and better financial system, dismissing critics who … Read more

Coinbase: Cryptocurrency Crisis: Exchanges Announce Massive Layoffs Amid Fears Of A “Crypto Winter” | Economy and Business – Tech Tribune France

The cryptocurrency industry has announced mass layoffs amid fears of a so-called “crypto winter”. The fall in the price of bitcoin, which has lost more than two-thirds of its value since the highs in November, has dragged the entire sector into a serious crisis. This crisis was exacerbated by the Luna/UST crash – which wiped … Read more

Legislative: from the crisis of democracy to an ungovernable France?

Philomag offers you a weekly selection of articles published in the French and foreign press, brought together around a common theme. Articles that surprised, questioned, disturbed us. The opportunity to discover new points of view on the world and the events that make the news. This week, a question: what lessons can be drawn from … Read more

Electricity Used To Mine Bitcoin Falls As Crypto Crisis Deepens | Cryptocurrencies – Tech Tribune France

The amount of electricity consumed by the largest cryptocurrency networks has fallen by up to 50% as the “crypto winter” continues to eat away at the income of “miners” and financial contagion spreads further throughout the world. sector. The bitcoin network’s electricity consumption has fallen by a third from its peak on June 11, to … Read more

Celebrity Bitcoin Ads Echo Subprime Mortgage Crisis

Advertising If you’ve lost a lot of money on cryptocurrencies in the past few months, I wonder what you think of the wealthy celebrities (mostly in the US) who encouraged you to enter. Reese Witherspoon marketed crypto, as did Gwyneth Paltrow, Larry David (his ad has the advantage of being just a little bit funny), … Read more

Solana: its Magic Eden marketplace receives new funding despite the market crisis – BeinCrypto

Magic Eden, a Solana-based non-fungible token (NFT) platform, has surged in value following a new round of funding. Solana’s Magic Eden has raised an additional $130 million in a Series B funding round, bringing its valuation to $1.6 billion. This move is taking place despite a decline in the overall cryptocurrency market and NFT transactions, … Read more

Despite the crisis, luxury brands continue to launch into the metaverse and NFTs – BeinCrypto International

Fashion and cryptocurrencies continue to go hand-in-hand, with major brands making a new push in the industry. Balmain and Burberry are thus the latest fashion houses to explore the metaverse and non-fungible tokens (NFT). Burberry, a British luxury fashion house, is closing a deal with Blankos Block Party from Mythical Games to design his own … Read more

Crypto Hebdo: From Celsius’s liquidity crisis to the bankruptcy of Three Arrows Capital and prospects… – BeinCrypto International

Crypto Hebdo From Celsiuss liquidity crisis to the bankruptcy of

Cryptocurrencies continue to bog down in the bear market as Celsius Network and Three Arrows Capital experience crisis. Bitcoin plunged below $20,000. Ethereum also fell below $1,000. Moreover, the European Union is rushing to regulate the sector. Finally, Circle will launch a euro-backed stablecoin. Celsius Network on the brink of a cash crisis On the … Read more

The cryptocurrency sector is going through a deep crisis, but all is not black

Nothing is going right in the crypto ecosystem. Prices are plunging and bad news is piling up. Having become highly correlated to equity markets, cryptocurrencies are considered risky assets in the same way as technology stocks by institutional investors and fund managers. They are now subject to the same fears as traditional stock markets, linked … Read more