Bear Market
Update: Genesis sacks 30% of workers, may file for Chapter 11 bankruptcy
On Jan. 4, Genesis CEO Derar Islim wrote that the firm was "reducing costs and driving efficiencies" in all of its businesses.
Oluwapelumi Adejumo 2 min read
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Top Bear Market Stories
Exchanges
Pionex removes Huobi’s market-making funds
The exchange pointed at the declining trading activity on Huobi as the reason for this decision.
Analysis
Low volume killed 66% of coins in last 10 years
Being a scam, and hosting failed ICOs are the second and third most common reasons for coin deaths.
Latest Bear Market News & Analysis
Bear Market
Fed plans to keep raising interest rates in 2023 but at a slower pace
Policymakers were concerned about controlling the rate of price rises and cautioned against prematurely loosening monetary policy at the FOMC meeting.
Bear Market
Genesis needs more time to sort ‘complex’ financial situation
Genesis CEO said the firm remains focused on its effort to solve its financial issues.
Bankruptcy
Judge rules $4.2B belongs to Celsius
Judge Martin Glenn ruled that the funds deposited in Earn Accounts belong to Celsius
Bear Market
World Economic Forum discloses its future vision for crypto
The WEF calls for "responsible actors" to assume control of crypto to prevent a repeat of disasters witnessed last year.
Investments
Crypto VC funding down by 82.5% YOY, lowest in 2 years
Compared to December 2021(154 projects), there were 50 crypto VC projects funded in December 2022, a decrease of 68% over one year.
Bear Market
Grayscale Ethereum Trust trades at record 59% discount
Nearly all Grayscale funds have been trading at high discount rates.
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Research
Research: Only 150K Bitcoin remain in Future OI as switch to risk-off fast approaches
Bear Market
Crypto OG Erik Voorhees predicts bull market return by 2026
Bear Market
VanEck forecasts BTC price to hit $10K to 12K in Q1 – $30K by Q3
Bear Market
