Ethereum Collapses 20% To Yearly Lows as Risk Investors Seek Shelter from The Storm

Turmoil continues to ramp up for Cryptocurrencies with intensity to the downside. Stock markets sold off hard after another record high inflation and record low consumer sentiment in the US flowing on to risk instruments. Two-year Treasury yields climbed to the highest since 2008. Ethereum broke through support on Friday and is down over 20% from Friday’s highs after it broke through major support at $1700. The contagion spread quickly to alt coins like XRP, Solana, Cardano and dogecoin. Bitcoin … Continue reading “Ethereum Collapses 20% To Yearly Lows as Risk Investors Seek Shelter from The Storm”

Coinbase Indian Expansion Plans Hit as Crypto Payments Frozen Across India

Turmoil hit India’s crypto traders after United Payments Interface, a central bank-backed entity said it was “not aware” of any crypto exchange using the network. Just hours earlier Coinbase Global’s chief product officer Surojit Chatterjee said crypto investors would now be able to use the country’s online retail payments system to transfer funds to its local exchange. At least seven crypto firms have suspended rupee deposits with Crypto exchanges already under pressure from the Indian tax regime. Coinbase customers are … Continue reading “Coinbase Indian Expansion Plans Hit as Crypto Payments Frozen Across India”

Crypto Banking Platform Coinbase IPO Hits Market Value over $100 Billion on Debut

Digital banking platform Coinbase went public on Wednesday trading under the symbol $COIN. The Nasdaq’s first major direct listing rose as high as $429.54 briefly giving it a market value over $100 billion. Growing popularity of cryptocurrencies has seen attention shift towards the exchanges they trade on.