Market focus

A new survey from Capgemini revealed that 71% of high-net-worth individuals (HNWI) around the world have invested in cryptocurrencies and other digital assets. The survey also has advised wealth management firms to prioritize providing education and advice. On June 14, technology consulting company Capgemini released its 2022 World Wealth Report. It polled 2,973 global HNWIs,…

Crypto exchanges Binance and Kraken, reportedly along with layer-2 sidechain Polygon, are looking to add staff amid crashing crypto markets. While Coinbase, BlockFi, and Crypto.com are among the crypto-related companies announcing layoffs this week. The US-based crypto exchange Kraken revealed on June 15 that it has not altered its recruiting strategy and does not expect…

Bitcoin’s price fluctuated after the Federal Reserve announced further monetary tightening on June 15, falling to as low as $20,270 after the Fed’s statement. But an hour after the announcement, the cryptocurrency was traded at $21,444. As a long-awaited step, the Fed announced that it will raise the fed-funds rate, the interest rate at which…

Mike Novogratz, the CEO of the institutional crypto investment firm Galaxy Digital, said that the bottom might be near after the recent market turmoil. He is drawing parallels between crypto and Long Term Capital Management, a highly leveraged hedge fund that blew up in the late 1990s. “We’ve gone to a level that should be…

Due to the crypto market being down, Bored Apes, Moonbirds, and other top NFT collections are losing value, but NFT sales are rising as collectors appear to be taking advantage of lower prices. As the crypto market is down with a 14% drop in overall value over the last 24 hours, Bitcoin lost 16%, and…

Goldman Sachs has expanded its client-facing crypto offering with a derivatives product linked to Ether (ETH), according to Marex Financial statement. The investment bank restarted its crypto operations in 2021 as a flood of institutional money entered the market, the core of its offerings has centered around derivatives tied to cryptocurrencies like Bitcoin. Today, amid…