Low Financial News

Low-cost cities with strong economies fared well in the second quarter as high prices and rising mortgage rates caused a swift slowdown in the housing market.

Crypto platform Voyager Digital argued that a joint offer proposed by crypto exchange FTX and linked trading firm Alameda is a “low-ball bid” that could disrupt the company’s bankruptcy process, to which FTX CEO Sam Bankman-Fried replied that the offer would provide Voyager customers with 100% of the remaining assets that Voyager has, as opposed to the “traditional” process under which, before customers obtain their assets, “they get fucked.”

Ethereum [ETH] insisted on its sideways momentum while its market consolidated over the last month. Post the bearish flag breakdown, buyers have not been able to break the bonds of the daily 20 EMA (red) resistance.

“It’s been a traumatic couple of years.” That’s how the CEO of a hotel loyalty programme sums up the COVID era. “But things are looking great now,” another Chief Executive Officer chimes in.

Blockchain analytics service Nansen has published its NFT Indexes Report for the second quarter of 2022, showing the market dynamics and quantitative performance of nonfungible tokens (NFTs) over the last three months. 

Digital currencies, public stocks and venture capital backing crypto startups have finally cooled down after massive growth due to the effects of an economic storm, according to Bloomberg.

Bitcoin (BTC) carried through threats of new local lows July 12 as the White House warned of “highly elevated” inflation.

A major legal battle between digital asset giant Grayscale Investments and the US Securities and Exchange Commission (SEC) over the rejected application to convert the Grayscale Bitcoin Trust (GBTC), the world's largest BTC fund, to a spot exchange-trading fund (ETF) might last even two years or longer.

The current state of the cryptocurrency market can be best described with the help of falling dominoes. First, it was the collapse of the algorithmic stablecoinTerraUSD [UST], sowing turbulence in the broader market. Then its the grown-up cousin Tether [USDT] that wavered from the peg, fueling concerns over its status as a place to hide during times of turbulence. While things appear to be settling down for the moment, nobody’s feeling safe. More specifically, Tether, certainly isn’t.

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Ethereum's native token Ether (ETH) has declined by more than 35% against Bitcoin (BTC) since December 2021 with a potential to decline further in the coming months.

After one week of pausing user withdrawals, swaps and transfers, the firm said it was maintaining an open dialogue with regulators and officials and plans to continue working with them regarding this pause. Celsius has yet to comment on when the company is going to stabilize its operations. Celsius has also paused communications on Twitter Spaces and ask-me-anything (AMA) sessions “to focus on navigating these unprecedented challenges.”

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Tether (USDT), the biggest stablecoin and the third largest digital currency by market capitalization, continues losing its market value amid the current market downturn.

The largest Bitcoin investment vehicle, the Grayscale Bitcoin Trust (GBTC), is now trading at its biggest ever discount to the spot market.

Solana (SOL) tumbled on June 16 amid a broader retreat across the top cryptocurrencies, led by the Federal Reserve's 0.75% interest rate hike a day before.

New applications for unemployment benefits held nearly steady last week just above historic lows as employers continued to avoid layoffs in a still-tight labor market.

Bitcoin tumbled on Wednesday to a new 18-month low, dragging smaller tokens down with it and spurring a sharp fall in crypto markets sparked by crypto lender Celsius freezing customer withdrawals. The world's largest cryptocurrency fell as much as 7.8% to $20,289, its lowest since December 2020. It has lost around 28% since Friday and more than half of its value this year. Since its record high of $69,000 in November, it has slumped about 70%. Cryptocurrencies have been hit hard this week after U.S. crypto lender Celsius froze withdrawals and transfers between accounts, stoking fears of wider fall-out in digital asset markets already shaken by the demise of the terraUSD and luna tokens last month.

Bitcoin tumbled on Wednesday to a new 18-month low, dragging smaller tokens down with it and deepening a market meltdown sparked by crypto lender Celsius this week freezing customer withdrawals.

Bitcoin fell on Wednesday to a new 18-month low, dragging down smaller tokens with it, as the recent tumble in crypto markets showed no sign of letting up.

Bitcoin plunged to the lowest in about 18 months after the freezing of withdrawals by the Celsius lending platform added to concern that systemic risk in the crypto ecosystem will accelerate the digital-asset market meltdown. The world's largest digital token tumbled as much as 15% to $23,336 — its lowest since December 2020. Other cryptocurrencies also declined as a broader sell-off continued. The MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 15%. And the total market value, which topped $3 trillion in November, was $1.02 trillion as of 9:48 a.m. New York time on Monday, according to CoinGecko. «The fundamentals to support stabilization and recovery just aren't there,» said Steven McClurg, co-founder and CIO at crypto fund manager Valkyrie Investments. «Things can and likely will get worse before they get better.»