Crypto lender Celsius suspends withdrawals, locking up billions in user funds amid ‘extreme market conditions‘

June 13, 2022

Investors are worried that inflationary pressures will trigger more aggressive action by the Federal Reserve, which convenes its two-day policy meeting Tuesday, with an expected half-a-percentage point increase to the fed-funds rate expected when the gathering concludes on Wednesday. That policy rate currently stands at a range of 0.75%—1%.

Equity losses swept across perceived riskier assets, with cryptocurrencies falling Friday as well. From Sunday’s price of just over $25,000, bitcoin has dropped more than 60% from its November 2021 high. #Cryptocrash and #bitcoincrash were trending on Twitter.

Read the entire article: https://www.marketwatch.com/story/cryptocurrency-selloff-extends-through-the-weekend-after-fridays-hot-inflation-reading-11655039108

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