While we don’t have a strong view on crypto here at Equity Mates, we are fascinated to watch the story unfold. Read on for some of the most interesting Tweets, articles and memes from the past week below.
Prices of Top Cryptocurrencies
Tweets & Charts of the week
Articles & Videos
Crypto exchange Bitstamp is planning to charge a monthly “inactivity fee” for certain users, as the market downturn weighs on trading volume in the industry. It is a step that hasn’t been taken before in the crypto industry but is sure to cause controversy. The charge would be 10 Euros per month for users who had been inactive for a year or more.
Fund managers are slashing the cost of exchange traded products to lure investors back into the asset class amid the ongoing crypto crash. Cryptocurrency specialist 21Shares, a Swiss group, has launched a new vehicle that tracks the price of bitcoin that undercuts rivals — and even its own flagship products — in an effort to tempt investors as they try to weather the bear market.
Crypto lender Voyager Digital filed for bankruptcy late Tuesday, becoming the second high-profile crypto firm to do so in recent days. Crypto companies – and lenders in particular – have faced solvency issues in recent weeks, with several stopping customers from withdrawing their funds.
Will the crash in crypto prices and market cap derail the next web revolution? Advocates argue that the blockchain technology underpinning digital assets will withstand the fall in values. Ethan Buchman, co-founder of blockchain network Cosmos, shares his thoughts.
Despite its skeptical approach to digital currencies, exacerbated by the recent crypto market crash, the Bank for International Settlements (BIS) intends to extend its hand to the new asset class by allowing banks to hold up to 1% of reserves in cryptocurrencies such as Bitcoin.
A leading cryptocurrency expert has warned current market turmoil will become a frequent occurrence with crashes and Depression-style bank runs, unless capital controls and regulation are introduced to govern fast-growing, centralised trading platforms.
The Bank of England has called for better regulation of cryptocurrencies, noting “vulnerabilities” in the market. It said that although the recent wipeout “did not pose risks to financial stability overall,” tougher laws are needed to protect the wider financial system in the future.
Just a few months after Jim Cramer said he believed in Ethereum and that investors could easily bank 40% returns on the asset, he has now said that there is “no real value there.”
Crypto bear markets are brutal, and understandably but unfortunately knock out investors that are new to the game: ‘I’m done with this shit!’ Experienced investors, however, love bear markets. They see them as a great time to accumulate coins and generate future wealth. But to thrive, you first need to learn how to survive. This article explains the bear market of 2022 and how you can get through it.
Celsius network has laid off 150 employees in a bid to stay operational. The lending and borrowing platform has been in crisis recently, announcing a pause on withdrawals on June 13.
The bear market has led to a series of fire sales. Binance CEO Changpeng Zhao now says the exchange likely had first pick over its competitor FTX, which is in talks to acquire crypto lender BlockFi for just $25 million.
In Focus: Crypto bankruptcies
Over the last few weeks, several crypto-related companies have filed for bankruptcy. In this week’s focus, we share articles telling the stories of these businesses.
Crypto lender Voyager Digital filed for bankruptcy on Tuesday, becoming the second high-profile crypto firm to do so in recent days. Crypto companies – and lenders in particular – have faced solvency issues in recent weeks, with several stopping customers from withdrawing their funds.
[Read the article here]
Crypto Winter has more Defi Platforms in trouble leaving customers stuck with their funds frozen, questions unanswered and investments fate discussed in the boardroom battleground as some big name firms line up to pick up the pieces for pennies on the dollar.
[Listen to the episode here]
Some of our favourite content
This is an excerpt from our Crypto Newsletter email. Once a week, for those investing in crypto or interested in learning more about this corner of the market, we’re featuring some of the most interesting content we’ve come across in this weekly email. No spam, we guarantee.