The crypto market was mixed on June 15, 2023, as investors digested the news that the Federal Reserve would pause rate hikes for June. Bitcoin (BTC) was up slightly, trading at $26,000, while Ethereum (ETH) was down slightly, trading at $1,700.
Here are some of the top headlines from the crypto world today:
Fed to pause rate hikes for June
Bitcoin up slightly, Ethereum down slightly
Crypto lending platform Celsius pauses withdrawals
BlockFi hires restructuring advisors
Crypto exchange FTX denies rumors of acquisition
Fed to pause rate hikes for June
The Federal Reserve announced on Wednesday that it would pause rate hikes for June. The decision was made in an effort to combat the economic slowdown caused by the COVID-19 pandemic.
The news was met with mixed reactions in the crypto community. Some investors were optimistic that the pause in rate hikes would lead to a rally in the crypto market. Others were more cautious, noting that the Fed could still raise rates in the future.
Bitcoin up slightly, Ethereum down slightly
Bitcoin was up slightly on Wednesday, trading at $26,000. Ethereum was down slightly, trading at $1,700.
The small gains in Bitcoin and Ethereum came after a week of heavy losses. The crypto market has been under pressure in recent months due to a number of factors, including the war in Ukraine, rising inflation, and the Fed’s plans to raise interest rates.
Crypto lending platform Celsius pauses withdrawals
Crypto lending platform Celsius Network paused withdrawals on Wednesday. The company said that the move was necessary to “preserve and protect assets.”
Celsius is one of the largest crypto lending platforms in the world. The company offers high-yield interest rates on cryptocurrency deposits. However, Celsius has been facing financial difficulties in recent months. In May, the company laid off 150 employees.
BlockFi hires restructuring advisors
Crypto exchange BlockFi has hired restructuring advisors. The company said that the move was a “proactive step” to ensure its long-term financial health.
BlockFi is one of the largest crypto exchanges in the world. The company offers a variety of services, including trading, lending, and staking. However, BlockFi has been facing financial difficulties in recent months. In June, the company announced that it would be laying off 20% of its workforce.
Crypto exchange FTX denies rumors of acquisition
Crypto exchange FTX has denied rumors that it is in talks to acquire rival crypto exchange Binance. The rumors were sparked by a report from Bloomberg, which cited unnamed sources.
FTX CEO Sam Bankman-Fried said that the rumors were “completely false.” He added that FTX is not in talks to acquire any other companies at this time.
Overall, the crypto market was mixed on June 15, 2023. Investors are still digesting the news that the Fed would pause rate hikes for June. The market is likely to remain volatile in the near future.
