HONG KONG : The cryptocurrency industry was on edge on Monday morning as investors feared contagion from problems at major crypto players could unleash a major shakeout if not contained.
Crypto hedge fund Three Arrows Capital is exploring its options, including the sale of assets and a bailout by another firm, its founders told the Wall Street Journal in a story published Friday, the same day Asia-focussed crypto lender Babel Finance said it would suspend withdrawals. "If the market goes higher, everyone breathes a sigh of relief, things will get refinanced, people will raise equity, and all of the risk will dissipate. But if we move much lower from here, I think it could be a total shitstorm," said Adam Farthing, chief risk office for Japan at crypto liquidity provider B2C2.
To be sure, the developments in crypto have coincided with an equities slide, as U.S. stocks suffered their biggest weekly percentage decline in two years on fears of rising interest rates and the growing likelihood of recession. [MKTS/GLOB]
after this news will come any moment will follow the stock markets on wall street where it will plummet
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Netizens leave 5-star reviews to counter 'cheapskates' on Fort Canning restaurant's no outside food policy, corkage fee S$20, not S$50 - The Independent Singapore NewsNetizens have since showered the business with five-star ratings to combat the one-star reviews by 'cheapskates' who do not understand the 'no outside food policy' of food and beverage establishments.
Source: IndependentSG - 🏆 9. / 63 Read more »
Bitcoin drops 6.5% to below $20,000Bitcoin dropped 6.53 per cent to $19,106.37 at 0734 GMT on Saturday, losing $1,334.33 from its previous close.Earlier in the day, it sank as far as $19,047.61, its lowest point since December 2020.Bitcoin is down 59 per cent this year, while ether is down 73 per cent.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Bitcoin drops below US$20,000 to lowest since December 2020Bitcoin dropped below US$20,000 on Saturday (Jun 18) to its lowest level in 18 months, extending its slide as investors pull back from riskier assets amid rising interest rates. The biggest cryptocurrency was down 7.1 per cent to US$18,993 at 9.06am GMT (5.06pm Singapore time), having earlier touched US$18
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Bitcoin drops below US$20,000 to lowest since December 2020
Source: STForeignDesk - 🏆 4. / 71 Read more »
Bitcoin plunges below $20,000SAN FRANCISCO: Bitcoin plunged below US$20,000 on Saturday (Jun 18), shedding nine percent from the previous day to fall to US$18,740, its lowest level since Dec 13, 2020. With investors increasingly wary of risk, the world\u0027s most popular crypto asset has lost more than 72 per cent of its value since reach
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »