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Happy Humpday Folks! Today the Fed will announce their rate increase and the question is will it crater Crypto? There is zero good news folks so unfortunately Bitcoin will need to hold its nose and take the medicine because the market is sick. Like Ludacris I am sure many of you are asking Bitcoin: "How low can you go?" $13-14K isn't out of the question.
Just like Celsius, Three Arrow Capital (3AC) is now feeling the heat and they will not be the last. A lot of these folks were swimming naked and we are seeing some really ugly bodies in the water. So what do you do in situations like this? I am still a strong believer like Cathie Wood, Michael Saylor, Ari Paul - Bitcoin, Bitcoin, Bitcoin. Keep stacking sats, go find some extra capital to buy as the ship goes down because unlike the Titanic, Bitcoin will rise again. That's my story and I am sticking with it. *NOT FINANCIAL ADVICE*
CRYPTO CARNAGE CONTAGION
- Three Arrows Capitals, the Next Victim of Market Crash As Insolvency Rumors Fly (EWN | Blockworks | UToday | CryptoPotato | Cointelegraph | Coindesk | TB | Finbold)
- Crypto Hedge Fund CEO Breaks Silence On Rumored Insolvency Issues (BIC)
- 'Staked Ether' Becomes Focus of Crypto Stress, From Celsius to Three Arrows (Coindesk)
- Tether Dismantles Rumors, Claims Zero Lending Exposure to Celsius and Three Arrows Capital (CryptoPotato | TB | Coindesk | UToday | BIC)
- Celsius is working 'non-stop' according to its CEO but has yet to share action steps post-withdrawal freeze (TB)
- Celsius Network Hires Restructuring Lawyers After Account Freeze: Report (CryptoPotato | EWN | Coindesk | Blockworks | Cointelegraph | BIC)
- Celsius Troubles, UST Collapse Could Have Long-Term Benefits for Crypto, FSInsight Says (Coindesk)
- NEXO price drops 40% in three days on rumors of ties to 'insolvent' crypto fund (Cointelegraph)
LAYOFFS
- Crypto Companies Are Telling Employees To Pack Up, But Binance Is Hiring – Here’s Why (Bitcoinist | UToday)
- Wall Street Regulator FINRA Wants to Hire Fired Crypto Employees (Blockworks)
- Great Talent, Bad Fit: Kraken CEO Tells “Unhappy” Employees to Commit or Leave (CryptoPotato)
- Binance CEO Changpeng Zhao Says Exchange Will Launch Big Hiring Spree During Crypto Bear Market: Report (TDH)
- Laid-Off Workers May Find Home With Wall Street Regulator; Coinbase Still Eying India Expansion (BIC)
- Kraken reiterates hiring targets as CEO denounces 'woke activists' in corporate culture (Cointelegraph)
CRYPTO MARKET
- Crypto market melts $370 billion in a week as bears threaten Bitcoin crash under $20k (Finbold)
- Why the Crypto Market Needs KYC and How to Stay Anonymous without Breaking a Law (NewsBTC)
BITCOIN & ETHEREUM
- Bitcoin trading: Momentum strategies with different moving averages (Cointelegraph)
- Large Bitcoin liquidations mean one man’s pain is another man’s pleasure — Time to buy the dip? (Cointelegraph)
- Bitcoin Volatility Skyrockets as Fed Announces 75 Basis Point Rate Hike (UToday | CryptoPotato | Cointelegraph | Bitcoinist)
- Bitcoin bounces 8% from lows amid warning BTC price bottom 'shouldn't be like that' (Cointelegraph)
- Bitcoin (BTC) Falls to 200-Week MA for Fifth Time in History (BIC)
- Bitcoin Slips 10% to Touch $20,000, Ethereum Down 15% (Decrypt | Coindesk)
- Biggest Bitcoin exchange inflows since 2018 put potential $20K bottom at risk (Cointelegraph)
- Ethereum RSI Indicator Shows First Bullish Signal Since Market Sell-Off, Aiming at Reversal from $1,090 (UToday)
- Ethereum Plunges to $845 for Second as Liquidity on Uniswap Remains Problematic (UToday)
ALTCOINS
- Ethereum Pulls Darth Maul, ETH Price Recovers 10% In One Hour (NewsBTC)
- Cardano’s ‘Decoupling’ Sets It Out For Massive Bull Rally As Pundits Envision $10 ADA Price (ZyCrypto)
STABLECOINS
- Tether aims to decrease commercial paper backing of USDT to zero (Cointelegraph)
ANALYST'S CORNER
- Anthony Pompliano: Price and Value of Bitcoin Completely Decoupling, Says Morgan Creek’s Anthony Pompliano (TDH)
- Fidelity: $4.5 trillion investment giant says Bitcoin is now ‘technically oversold’ (Finbold | TDH | CryptoPotato)
- Dave the Wave: Crypto Trader Who Accurately Called Two Separate Bitcoin Collapses Looks at State of BTC (TDH)
- Will Clemente: "Best Trading Opportunity Ever" Says Blockware Analyst, According to On-Chain Metrics (UToday)
- Arthur Hayes: Ex-BitMEX CEO Arthur Hayes Warns Bitcoin and Ethereum on Brink of Epic Collapse (TDH | TDH)
- Peter Brandt: Bitcoin Price May Soon Plunge to $13K (CryptoPotato | BIC)
- Smart Contracter: Crypto Trader Who Nailed 2018 Bear Market Bottom Says Bitcoin and Ethereum Very Close To Pivotal Moment (TDH)
NOTABLE VOICES
- Anthony Scaramucci: Hedge Fund Billionaire Anthony Scaramucci Says His Firm Bought the Carnage on Bitcoin (BTC) and Ethereum (ETH) (TDH)
- Jeffrey Gundlach: Wouldn’t be surprised if bitcoin drops to $10k (CNBC | UToday | Finbold)
- Ben Zhou: Bitcoin is here to stay even as new innovations develop — Bybit founder (Cointelegraph)
- Sandeep Nailwal: Polygon's Co-Founder Shares His (Moderately Optimistic) Take on This Market Cycle Bottom (UToday)
- Mark Mobius: Bitcoin’s decline is bad for the S&P 500, says Mobius Capital co-founder; Here’s why (Finbold)
- Michael Saylor: Now It’s “Ideal Entry Point” for Bitcoin (UToday | Cryptoglobe)
- Michael Saylor: Bitcoin and Lightning Network can save DeFi from adversity: MicroStrategy CEO (Cointelegraph)
- Cathie Wood: ARK Invest CEO on Bitcoin says “We’ve Got Some Very Strong Holders or HODLers Here” (Cryptoglobe)
- Ari Paul: Bitcoin is the 'Amazon of crypto' and everything else are bets, says Blocktower founder (Cointelgraph)
- Dan Gambardello: ‘A Lot of People Are Warming Up to Cardano’, Says Founder of Crypto Capital Venture (Cryptoglobe)
- Meltem Demirors: The crypto industry must do more to promote encryption (Cointelegraph)
- Kevin O'Leary: Shark Tank Investor Details Crypto Holdings, Name-Drops Bitcoin, Ethereum, Solana and Additional Altcoins ; says Bottom not in (TDH | Coindesk)
- Jesse Powell: Kraken CEO hits out at 'triggered' employees (TB)
- Peter Schiff: Finance expert says BTC price burst is ‘long overdue’ as Bitcoin isn’t an asset but ‘a collectible’ (Finbold)
- Faustin-Archange Touadéra: Central African Republic President says Bitcoin adoption is the ‘right path’ during hard times (Finbold)
PEOPLE ON THE MOVE
- Stacey Cunningham: Former NYSE president joins Uniswap Labs as advisor (TB)
WEB 3
- ‘Cardano Blue-Chip #NFTs Are Holding Relatively Strong’, Says VP at Hit Network (Cryptoglobe)
BLOCKCHAINS
- Bitcoin Hashrate Shoots Up To New All-Time High Amid Crash (Bitcoinist)
- Cardano: Ledger Live Finally Adds Support for ADA After Months of Waiting (UToday | Cryptoglobe)
- Crypto Keys Could Be Compromised by Intel and AMD ‘Hertzbleed’ Chip Vulnerability (BIC)
MINING
- Bitcoin miners' exchange flow reaches 7-month high as BTC price tanks below $21K (Cointelegraph)
- Bitcoin mining stock report: Wednesday, June 15 (TB)
LEGISLATION/REGULATION
- FTX makes former Senate staffer first in-house lobbyist amid Capitol Hill blitz (TB)
- House Ways and Means Committee chair seeks info on crypto and retirement accounts oversight (TB | Cointelegraph)
- New York AG: ‘Investors Are Losing Billions Because of Risky Cryptocurrency Investments’ (Cryptoglobe)
- Seized crypto safe with US Marshals Service? Not so much, new audit reveals (Cointelegraph)
- SEC Chair Gensler Suggests Lummis-Gillibrand Bill May ‘Undermine’ Market Protections (Coindesk | TDH | BIC)
- Bill to ban digital assets as payment passed the first reading in the Russian parliament (Cointelegraph | Bitcoinist)
- Gibraltar Minister: Balanced Regulation Key to Restoring Trust in Crypto (Blockworks)
THE BAD
- Security Threat Exposed for Browser-based Crypto Wallets (Blockworks)
PODCASTS
- Bankless: How Bad will Inflation Get? | Jim Bianco
- The Breakdown: The Second Horseman of the Cryptopocalypse
- The Pomp Podcast: #1005 Dylan LeClair Explains The Celsius Crash
- Decrypt Daily: June 14: Celsius Saga Continues: A Twitter Thread Tells All
- The Scoop: F9 Research's Jim Greco explains why crypto prices are cratering
- The Wolf Of All Streets: The Future Of Bitcoin: Dan Held, Preston Pysh, CJ Wilson, Steve McClurg, Greg Foss
- Bitcoin Fundamentals: BTC082: The Senator Lummis & Gillibrand Digital Asset Bill w/ Jason Brett & Tyler Lindholm
