Contagion: Genesis faces huge losses, BlockFi’s $1B loan, Celsius’s risky model

It’s been another day of watching the ripples of contagion spread through the crypto market. With Three Arrows Capital being ordered into liquidation by a British court, details have also emerged today of BlockFi liquidating a $1B loan to 3AC, and the fallout from the insolvency was partly to blame for lending firm and market … Read more

‘Cheaper than it looks’: Fidelity’ exec says BTC undervalued and oversold

Jurrien Timmer, Fidelity’s director of global macro, has argued that Bitcoin (BTC) may be “cheaper than it looks”, highlighting evidence on Tuesday that the cryptocurrency may be both undervalued and oversold.  Addressing his 126,000 Twitter followers, Timmer explained that while Bitcoin has fallen back to 2020 levels, its price-to-network ratio has reeled all the way … Read more