Bitcoin near the elimination area

Bitcoin near the elimination area

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Bitcoin is back above $ 20,000 today, providing some relief to distressed cryptocurrency investors who saw the digital currency fall below $ 18,000 over the weekend.

According to Scott Chipolina and Joshua Oliver, a drop below $ 20,000 could lead to a forced liquidation of large leverage bets. Over the weekend, leverage positions worth more than $ 600 million were liquidated, according to Coinglass, as traders who had borrowed money to take on over-indebted market bets failed to deposit more collateral and disappeared.

Bitcoin fell about 70 percent from an all-time high of nearly $ 70,000 last November. Ether, another badge that is actively trading, fell as much as $ 900 over the weekend, meaning its price has fallen by four-fifths since peaking late last year.

The death toll rose last month – the so-called stablecoin terra and its token luna brother – popular with cryptocurrency traders looking for extremely high returns – collapsed, two lending platforms prevented depositors from withdrawing their Crypto ard assets to meet margin requirements in the wake of lenders’ claims. Alphaville records how quickly the outlook for Babel Finance, Celsius Network, Finblox, Terra / Luna and Three Arrows has changed.

Lender Celsius, which suspended the takeovers last week, has warned it will “take time” to normalize its operations. “We intend to continue working with regulators and officials on this pause,” he said in a blog post Monday.

Launched five years ago, Celsius, which offers customers high interest rates on encrypted deposits, has attracted 1.7 million customers with the slogan “#unbank yourself”. The founder of Alex Mashinsky, whose profile we presented at the weekend, has created a cult, taking advantage of public distrust in major financial institutions.

Lex says the reluctance of traditional investment products among ethnic minorities, because of the history of discriminatory lending practices, has lured them into encryption and made them the biggest victims of a collapse in values.

Cryptocurrency explored by 43% of men aged 18 to 29 in the US -% of US adults who say they have invested, traded or used a cryptocurrency such as bitcoin or ether

At the other end of the spectrum, asset managers have avoided diving into the crypto market and see their fears of instability and lack of regulation being confirmed.

The Internet of Things (Five)

1. Stronger BNPL rules as the Klarna price drops
The UK government has announced plans to strengthen its “buy now, pay later” services, requiring lenders to carry out checks on consumers to ensure they can afford to borrow. Meanwhile, BNPL leader Klarna is trying to raise fresh cash in less than half of the $ 46 billion maximum valuation, as such services suffer from discretionary spending, rising interest rates and the possibility of higher interest rates.

2. The UK is “in danger of following the rules” regarding the Big Tech arrangement
Britain threatens to become “rule suppressor” by Brussels after the government chose not to give the competition authority powers to set codes of conduct for large Internet groups such as Google and Facebook, the outgoing chief executive has warned. .

3. NetEase has a Pooh day
Shares of NetEase fell on Monday morning after the Chinese gambling company clashed with Chinese censors over a social media post suspected of referring to Winnie the Pooh, a popular mockery of Jinping. . Lex says its shares were also hit by the unexpected delay in Chinese certification for the blockbuster fantasy game Diablo Immortal.

4. Apple employees vote for the first union
A group of Apple retailers voted in favor of setting up unions, marking the first trade union for the US consumer technology giant as a growing labor movement gathers momentum across the country. Employees of the store in Towson, a city in Maryland, voted in favor of joining the International Association of Aeronautical Engineers and Workers (IAM) with 65 votes to 33.

5. The Blair edutech project
Advertised as a vibrant university alternative for talented young people, Euan Blair’s start-up Multiverse uses automated forecasting software to select apprentices, matching them with companies based on skills and attitude rather than grades. The son of former United Kingdom Prime Minister Tony Blair spoke to the FT about his vision, the month Multiverse became Britain’s youngest “unicorn”, valued at $ 1.7 billion.

Technical tools – Vertu NFT smartphone

We wrote the British obituary of Vertu, the maker of luxury smartphones, five years ago, but Vertu Paris still exists and today released its new Constellation X Ulm device. The company is making more of a fuss about how you can buy it than telling you what it looks like and how it does it. There will only be 10,555 smartphones available for sale and they will have to be purchased through the purchase of a non-tradable badge (NFT) on the Vertu Paris website, on the Binance NFT market or on the decentralized financial platform You can also “give up” the physical phone and just keep the marketable NFT. NFTs sell for $ 5,175, while the phone sells for $ 14,890, which could mean that they expect the value of NFTs to increase and many do not choose to get the real phone. I confess that I am confused at this point. The beast itself seems to lack the external bling one would expect, but has an octa-core processor inside, a 6.7-inch 120 Hz display, and the rear cameras feature a 50 MP main lens, an ultra-wide 12 MP lens and a 48 MP telephoto lens. .

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