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

Crypto crash: What contagious risks could Celsius, Three Arrows pose? Here’s what to watch

The latest crisis started Sunday with Celsius, one of the biggest crypto lending platforms, pausing all withdrawals, swaps and transfers between accounts. The company reportedly has hired restructuring attorneys to advise on possible solutions for its mounting financial problems, according to a Tuesday report by the Wall Street Journal. Meanwhile, rumors swirled over potential stress … Read more

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

Financial Reserve 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 Volcker-esque reaction from Federal Chairman Jerome Powell and the rest of the Federal Open Market Committee. … Read more

From Great Resignation to Forced Resignation: Tech companies are shifting to layoffs after a huge ramp up in hiring

The Great Resignation is pivoting to a Forced Resignation. Thousands of layoffs in the tech sector, compounded by hiring freezes and a slowdown in hiring, highlight the abrupt shift in fortunes over the past several months as a result of rampant inflation, fear of stagflation and recession, supply-chain interruptions, the war in Ukraine, an ailing … Read more

‘I missed the bus on Bitcoin, but now feel like my time has come. Is it time to go big or go home? I have another 25 years of a boring 9-to-5 job, and I just want out.’

Dear Quentin, I read a letter from a reader last year who was suffering from crypto FOMO, and I have been following the crypto markets ever since. I felt like I missed the bus on Bitcoin, but now feel like my time has come. Is it time to go big or go home? I have … Read more

Celsius Crypto Platform Halts Withdrawals as Bitcoin Tanks 13%

Celsius founder and CEO Alex Mashinsky as he appeared in a promotional video for Celsius uploaded to YouTube.screenshot: Celsius / YouTube The Celsius crypto network has halted all trading, including withdrawals, according to a press release from the company released overnight. The unusual move with the major cryptocurrencies plummeted over the weekend, and questions remain … Read more

The S&P 500 is clinging to a key support level after Friday’s meltdown, here’s what happens if that fails

Last week’s shock US inflation number continues to tear through markets, with dip buyers seemingly in hiding. Hardest hit Nasdaq-100 futures are down 3%. Investors are now focused squarely on Wednesday’s Fed outcome, with expectations the central bank may need to do something bold, driving even more anxiety out there. The aftermath of Wall Street’s … Read more

‘I thought it was a sick joke’: They gave up other job offers to work for Coinbase, and are now unemployed

When Hao Jia received an email from Coinbase that his job offer had been rescinded, he was on his way to watch “Top Gun: Maverick,” the blockbuster movie starring Tom Cruise. Jia’s girlfriend had asked him to watch it for her because she was in China, where the film has not been released, and she … Read more

Ethereum close to its major upgrade, but why has it fallen more than bitcoin?

Hello! Welcome back to Distributed Ledger, our weekly crypto newsletter that reaches your inbox every Thursday. I’m writing it in the heat of Austin, TX, where Consensus, a multi-day crypto conference kicked off today. As usual, find me on Twitter at @FrancesYue_ to send feedback, or tell us what you think we should cover. Crypto … Read more

Senators Propose Industry-Friendly Cryptocurrency Bill

WASHINGTON—A pair of US senators unveiled legislation that would create special exemptions to federal law for some cryptocurrencies, amid an intensifying lobbying push by the industry to avoid existing regulations. Sens. Cynthia Lummis (R., Wyo.) and Kirsten Gillibrand (D., NY) outlined a bill Tuesday dubbed the Responsible Financial Innovation Act, which aims to create a … Read more