Crypto Explainers

Why Margin Calls And Bot Liquidations Are Roiling Crypto

Why Margin Calls And Bot Liquidations Are Roiling Crypto

Olga Kharif, Bloomberg | Saturday June 25, 2022

Its a vicious circle long familiar to those in traditional finance: trades made with borrowed money coming apart when the value of their collateral put up against the loans drops, forcing liquidations that in turn push prices down further.

Cannot Defy Gravity, Crypto Fears Materialising: International Bank Body

Cannot Defy Gravity, Crypto Fears Materialising: International Bank Body

Reuters | Saturday June 25, 2022

Recent implosions in the cryptocurrency markets indicate that long-warned-about dangers of decentralised digital money are now materialising, the Bank for International Settlements has said.

Postpone Decision On Crypto GST, Suggests Officers' Committee

Postpone Decision On Crypto GST, Suggests Officers' Committee

Press Trust of India | Friday June 24, 2022

The officers' committee on GST has suggested the GST Council defer a decision on the cryptocurrency and other virtual digital assets tax

Financial Watchdogs Should Protect Crypto Investors: Swiss Regulator

Financial Watchdogs Should Protect Crypto Investors: Swiss Regulator

Reuters | Thursday June 23, 2022

Cryptocurrencytrading increasingly resembles the US stock market of the late 1920s, Switzerland's top market regulator said on Wednesday, calling for regulators to take more action to protect consumers from abuse in the freewheeling sector.

Crypto Giant Tether To Launch Sterling-Pegged Stablecoin; Any Takers?

Crypto Giant Tether To Launch Sterling-Pegged Stablecoin; Any Takers?

Reuters | Thursday June 23, 2022

Major crypto firm Tether said on Wednesday it will launch next month a "stablecoin" pegged to the British pound, a move that comes as London draws up plans to regulate the fast-growing type of digital currency.

We're Sorry, But We Can't Return Your Money Right Now: Crypto Market Talk

We're Sorry, But We Can't Return Your Money Right Now: Crypto Market Talk

Michael P. Regan, Bloomberg | Sunday June 19, 2022

It was one of the most dramatic weeks in the short history of the cryptocurrency market, bookended by the type of announcements investors fear the most from a counterparty: Wer'e sorry, but we just cant return your money right now.

At Avatar Fashion Store, Meta To Sell Virtual Clothes For Real Money

At Avatar Fashion Store, Meta To Sell Virtual Clothes For Real Money

Reuters | Sunday June 19, 2022

Facebook owner Meta Platforms is launching a digital clothing store where users can purchase designer outfits for their avatars, Chief Executive Mark Zuckerberg said on Friday.

Crypto Death Spiral? Binance's 2022 Volumes Same As 2021's $34 Trillion

Crypto Death Spiral? Binance's 2022 Volumes Same As 2021's $34 Trillion

Sunday June 19, 2022

Cryptocurrency exchange Binance's Chief Executive Officer, Changpeng Zhao, said on Thursday that volumes on the exchange so far in 2022 were similar to the $34 trillion it had in 2021.

Bitcoin Crashes Below $20,000 For The First Time Since 2020

Bitcoin Crashes Below $20,000 For The First Time Since 2020

Joanna Ossinger and Tanzeel Akhtar, Bloomberg | Saturday June 18, 2022

Bitcoin dropped below $20,000 for the first time since December 2020 as evidence of deepening stress within the crypto industry keeps piling up against a backdrop of monetary tightening.

Crypto Meltdown Underscores 'Urgent Need' For Regulation: US Treasury

Crypto Meltdown Underscores 'Urgent Need' For Regulation: US Treasury

Reuters | Saturday June 18, 2022

Recent turmoil in the cryptocurrency market underscores the "urgent need" for regulatory frameworks that reduce the risks posed by digital assets, a US Treasury official said