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<ul class="summary-list"><li>Bitcoin fell again Monday after a weekend <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> sell-off wiped more than $400 billion from the digital asset market.</li><li>The world's biggest cryptocurrency traded below $50,000 Monday, having stood above $57,000 four days earlier.</li></ul><a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> fell Monday after a dramatic rout wiped more than $400 billion from crypto <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> over the weekend.The world's biggest cryptocurrency was down 3.7% to $47,585 on the Coinbase exchange as of 5.35 a.m. ET.Bitcoin crashed to as low as $42,000 Saturday from above $57,000 Friday, before rebounding to trade just below $50,000 for most of Sunday.As of Monday, the token was roughly 30% below its November record high of close to $69,000, underscoring the volatility of the digital asset.<a href="https://markets.businessinsider.com/currencies/eth-usd">Ether</a>, the second-biggest token, was down 6.4% at $3,951 Monday on Coinbase. It too crashed Saturday, falling as low as $3,570 before rebounding somewhat.The weekend plunge wiped more than $400 billion from the global cryptocurrency space, with the total market value of all tokens falling from above $2.6 trillion to below $2.2 trillion Monday, according to <a href="https://coinmarketcap.com/charts/">Coinmarketcap</a>.Crypto markets started tumbling Friday <a href="https://markets.businessinsider.com/news/stocks/stock-market-today-nasdaq-nfps-omicron-tech-federal-reserve-taper-2021-12">along with other risky assets</a> such as tech and meme stocks.A combination of worries — including the new Omicron coronavirus variant, rising chances that the Federal Reserve will tighten monetary policy, and mixed signals from the US economy — have unnerved investors.Analysts said the crypto crash was exacerbated by the structure of the markets, where traders often use <a href="https://www.businessinsider.com/derivative?r=US&amp;IR=T#:~:text=Derivatives%20are%20a%20contract%20that,movement%20of%20the%20underlying%20stock.&amp;text=The%20key%20benefit%20of%20derivatives%20over%20securities%20is%20leverage.">derivatives</a> — contracts that let people bet on the direction of an asset without actually owning it — and borrowed money.As prices started falling Friday, many exchanges began "liquidating" traders' positions to ensure they had enough money on hand to cover losses, adding to the downward pressure in the market.On Friday, over $2 billion in long positions across the global <keyword id="11909331" type="UNKNOWN" weightage="60" keywordseo="crypto-market" source="Orion">crypto market</keyword> were liquidated, nearly $850 million of which were from bitcoin <a href="https://www.businessinsider.com/futures-investing?r=US&amp;IR=T#:~:text=Futures%20are%20contracts%20in%20which,help%20businesses%20navigate%20unexpected%20costs.">futures</a>, according to Sean Farrell, head of digital asset strategy at Fundstrat.Read more: <a href="https://www.businessinsider.com/bitcoin-bear-market-warning-cryptocurrency-forecast-louis-navellier-2021-12?r=US&amp;IR=T">Famed investor Louis Navellier warns that there are mounting signs a coming 'double top' in bitcoin could wipe out more than a year's gains for the cryptocurrency</a>Smaller tokens such as solana, binance coin and cardano were also lower Monday after slumping at the weekend.Yet Farrell said that "there is reason to believe that bitcoin consolidates around its current level before heading higher," given that traders are likely to be attracted by cheaper prices.Despite the weekend crash, crypto prices remained sharply higher for the year. Bitcoin was last up around 62% year-to-date, while ether was more than 430% higher.But analysts expect the ride to be bumpy for cryptocurrencies in the coming months, as economic policymakers navigate the next phase of the pandemic.Susannah Streeter, senior markets analyst at broker Hargreaves Lansdown, said: "Crypto coins and tokens have been propelled higher in this era of ultra-cheap money."She added: "As speculation swirls about just when central banks will start further tightening mass bond-buying programmes and start raising interest rates, they are likely to continue to be highly volatile."

Bitcoin falls further after weekend rout wipes more than $400 billion from crypto markets

<ul class="summary-list"><li>An <keyword id="44430" type="ORGANIZATION" weightage="60" keywordseo="index">index</keyword> from <keyword id="1869063" type="PERSON" weightage="60" keywordseo="SP-Dow-Jones">S&amp;P Dow Jones</keyword> launched on Tuesday aims to give investors a snapshot of the overall <keyword id="2721952" type="PERSON" weightage="60" keywordseo="crypto">crypto</keyword> market.</li><li>The index will be top-heavy: <keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">bitcoin</keyword> and <keyword id="2810876" type="PERSON" weightage="60" keywordseo="ethereum">ethereum</keyword> currently make up 62.8% of the crypto market.</li><li>The broader crypto market has tended to move in tandem with the big two mega-cap coins, according to Insider's analysis of the S&amp;P crypto indices.</li></ul>An index from S&amp;P Dow Jones launched on Tuesday aims to give investors a unified snapshot of the overall crypto market as institutional players grow more curious about crypto.The S&amp;P Cryptocurrency Broad Digital Market Index <a href="https://www.spglobal.com/spdji/en/indices/digital-assets/sp-cryptocurrency-broad-digital-market-index/#overview">tracks</a> 240 cryptocurrencies worth over $10 million that meet a few baseline requirements for inclusion. While S&amp;P has previously created indices for bitcoin and ethereum, the new measure will offer a wider lens for the crypto ecosystem.The index will be somewhat top-heavy. Bitcoin and ethereum currently make up 62.8% of the total crypto market, according to CoinMarketCap, and the top 10 cryptocurrencies account for 82%. By contrast, the top two stocks in the S&amp;P 500, Apple and Microsoft, comprise just 11% of the index. The top 10 stocks make up just over a quarter of the S&amp;P 500, at 27.9%.S&amp;P Dow Jones also announced several sub-indices, including ones that track the crypto market without the impact of bitcoin and ethereum. The broader crypto market has tended to move in tandem with the big two mega-cap coins. The 238 top cryptocurrencies excluding bitcoin and ethereum are strongly correlated with an index of only bitcoin and ethereum, according to Insider's analysis of the S&amp;P crypto indices. (The correlation coefficient was 0.76 and considered data from February 2017, when the indices begin.)S&amp;P Dow Jones hopes its new indices will bring transparency to an often opaque space that is nevertheless attracting widespread institutional interest."The expansion of our Digital Market Indices family gives one of the broadest snapshots yet of this rapidly growing asset class with the ability to slice and dice by market cap," said Peter Roffman, head of innovation and strategy at S&amp;P Dow Jones, in a statement.

A new index tracking the performance of 240 digital currencies will let investors take the temperature of the crypto market

<ul class="summary-list"><li>A top <keyword id="12059591" type="UNKNOWN" weightage="60" keywordseo="ecb" source="Orion">ECB</keyword> official urged globally coordinated measures to regulate <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> and avoid a "lawless frenzy".</li><li>Fabio Panetta supported higher taxation for some crypto and called for oversight on peer-to-peer payments.</li></ul>A top ECB official called for international coordination to regulate the crypto sector and called for a crackdown on the market.Fabio Panetta said the <keyword id="13714330" type="UNKNOWN" weightage="60" keywordseo="unregulated" source="Orion">unregulated</keyword> crypto market posed financial stability risks and policymakers should not leave it unchecked."Now is the time to ensure that crypto-assets are only used within clear, regulated boundaries," he said in a <a href="https://www.ecb.europa.eu/press/key/date/2022/html/ecb.sp220425~6436006db0.en.html">speech</a> at Columbia University on Monday. "We should make faster progress if we want to ensure that crypto-assets do not trigger a lawless frenzy of risk-taking.""But our measures can only be effective if they are matched by ambitious measures implemented by our international peers," he said.Panetta suggested holding crypto to the same standards as other financial assets, and proposed bringing peer-to-peer crypto transfers under the scope of rules on anti-money laundering and countering the financing of terrorism. Panetta warned crypto-assets could be used for tax evasion or to circumvent sanctions.He also said taxation for crypto should be in line with other instruments and across jurisdictions and said there should be an obligation to report transactions above a certain threshold. He raised the possibility of higher taxation for some <keyword id="11893901" type="UNKNOWN" weightage="60" keywordseo="crypto-assets" source="Orion">crypto assets</keyword>, like those based on PoW (proof of work), such as bitcoin, which tend to be more energy-intensive. Panetta urged regulating on-chain peer-to-peer payments due to the risk of them evading regulation.Panetta said greater disclosure and transparency requirements for the crypto market would ultimately lead to greater consumer protection. He said crypto's volatility and liquidity meant that a standard of conduct should be followed by professional crypto operators to protect retail investors."We need globally coordinated regulatory action to address issues such as the use of crypto-assets in cross-border illicit activities or their environmental footprint," he said.Panetta compared crypto's unregulated nature to the Wild West and to the subprime mortgage market that led to the 2008 global financial crisis."In the absence of adequate controls, crypto-assets are driving speculation by promising fast and high returns and exploiting regulatory loopholes that leave investors without protection," he said.His concerns echoed the IMF's. In its Global Financial Stability Report last week, the International Monetary Fund <a href="https://markets.businessinsider.com/news/currencies/russia-sanctions-crypto-bitcoin-mining-regulator-circumvent-ukraine-sanctions-imf-2022-4">urged policymakers</a> to develop comprehensive global standards for crypto assets and to coordinate their regulatory approach with others around the world.

A top ECB official is urging a global crackdown on the crypto market to prevent a 'lawless frenzy'

The world's biggest <keyword id="6357017" type="General" weightage="60" keywordseo="cryptocurrency" source="Orion">cryptocurrency</keyword> <keyword id="6354947" type="General" weightage="70" keywordseo="bitcoin" source="Orion">Bitcoin</keyword> touched a 19-month high above $42,000 which was triggered by some "panic buying", reports said on Tuesday. The surge in Bitcoin prices pushed the <keyword id="6380571" type="General" weightage="50" keywordseo="crypto-market" source="Orion">crypto market</keyword> capitalization over $1.5 trillion for the first time since May 2022, when <keyword id="19718276" type="General" weightage="20" keywordseo="terra-crypto" source="Orion">Terra crypto</keyword> token collapse kicked-off the crypto winter. Bitcoin was hovering around $41,700 per token on Tuesday. According to analysts, bets on lower interest rates, spot bitcoin ETF anticipation and "panic buying" helped the rally, reports <keyword id="11929735" type="General" weightage="80" keywordseo="coindesk" source="Orion">CoinDesk</keyword>. Smaller crypto tokens, however, lagged behind, with ether (ETH), BNB and ADA gaining 2-3% during the day, while XRP traded flat. "This shows panic buying from traders who are closing out shorts or increasing leveraged longs," according to crypto investment services provider Matrixport. The macroeconomic environment is also supporting Bitcoin's price rise. "Dovish talk from some Fed officials, a weakening dollar, and relatively sturdy domestic data helped propel markets over the weekend," Alex Thorn, head of research at digital asset investment firm Galaxy, was quoted as saying in the report. While Bitcoin's outlook looks bright, there are some possible short-term headwinds looming, according to analysts. "The reason for concern is that even though selling pressure was being exhausted in the futures markets, there was a lack of follow-through from spot markets," Bitfinex analysts said. Bitcoin is up more than 150% year-to-date, and it is one of the world's best-performing assets on a risk-adjusted basis. "Despite the run, Bitcoin remains very constructive," said analysts.

Global crypto market hits $1.5 trillion as panic buying fuels Bitcoin price

<ul class="summary-list"><li>The market capitalization of global <keyword id="2420795" type="PERSON" weightage="60" keywordseo="cryptocurrencies">cryptocurrencies</keyword> has dropped by 23% in just the last five days, according to data on CoinMarketCap.</li><li><keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">Bitcoin</keyword> has fallen roughly 35% since hitting all-time high in mid-April as comments.</li><li>Tesla CEO Elon Musk has been responsible for recent swings in the cryptocurrency as he laments the amount of energy used to mine.</li></ul>The value of the cryptocurrency market has slid by 23% in just the last five days. It's been pulled lower by a sell-off in <a href="https://markets.businessinsider.com/currencies/btc-usd">bitcoin</a> most recently catalyzed by comments made by Tesla CEO Elon Musk.The market cap for global <keyword id="3144636" type="PERSON" weightage="60" keywordseo="digital-currencies">digital currencies</keyword> came in at $1.97 trillion on Monday, down from a recent peak of $2.56 trillion on May 12, according to <a href="https://coinmarketcap.com/charts/" target="_blank" rel="noopener">data from CoinMarketCap.com.</a>"The crypto world is in the danger zone … as no one has a handle over short-term momentum because of uncertainty on where Elon Musk stands on bitcoin," Edward Moya, a senior market analyst at Oanda, wrote in a note to Insider on Monday. Bitcoin on Monday fell below $43,000 to its lowest point since February while other crypto prices suffered as well. <a href="https://markets.businessinsider.com/currencies/eth-usd">Ether</a>, the token of the <keyword id="2810876" type="PERSON" weightage="60" keywordseo="ethereum">Ethereum</keyword> blockchain, was down nearly 8%, <a href="https://markets.businessinsider.com/currencies/ada-usd">Cardano-ADA</a> sank 10%, and <a href="https://markets.businessinsider.com/currencies/bnb-usd">Binance Coin</a> fell about 9%. <a href="https://markets.businessinsider.com/currencies/doge-usd">Dogecoin</a> gave up 7%. Solana was the only one of the 20 largest cryptocurrencies by market cap to gain ground Monday, up about 0.2%, according to CoinGecko. Bitcoin dropped Monday after Musk on Twitter suggested Tesla might - or had sold - its holdings in the cryptocurrency. It slightly rebounded after Musk clarified that the electric vehicle maker still held its bitcoin stake. Bitcoin's recent selloff was sparked after Musk last week said Tesla would <a href="https://www.businessinsider.com/tesla-bans-bitcoin-payments-due-to-impact-on-environment-2021-5?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest">stop taking bitcoin as payment</a> because of the "insane" amount of energy needed to create new coins and secure the network. "It seems unlikely that a massive financial institution will make a big bet on crypto in this current market as environmental concerns come to the surface," said Moya. Musk later suggested that <keyword id="1985091" type="PERSON" weightage="60" keywordseo="dogecoin">Dogecoin</keyword> may be a payment option for Tesla as he's working with Dogecoin developers to improve system transaction efficiency. Read more: <a href="https://www.businessinsider.com/crypto-trading-investing-tips-crypto-tokens-hodling-trader-scott-melker-2021-5" target="_blank" rel="noopener">'Wolf of All Streets' crypto trader Scott Melker breaks down his strategy for making money using 'HODLing' and 100-times trade opportunities - and shares 5 under-the-radar tokens he thinks could explode</a>"Everyone has been watching BTC fall, crashing 35% from all-time highs, just within a month," said Justin Chuh, senior trader manager Wave Financial, a regulated digital asset investment firm, in a note. "Remember gravity and volatility? They exist. Some of the new <keyword id="6380571" type="UNKNOWN" weightage="60" keywordseo="crypto-market">crypto market</keyword> entrants are about to have their first taste of riskHe continued: "A pullback was bound to happen. But we have to accept that those voices chirping around on social media aren't helping and can actually make moves. This is healthy, but I think we all wish this didn't happen." Broad risk aversion that hit US stocks on Monday didn't aid the cryptocurrency market, said Moya, and "retail traders on social media platforms TikTok and Twitter are losing confidence and are getting closer to hitting the panic button."

The crypto market has lost 23% of its value in just the last 5 days

<ul class="summary-list"><li><keyword id="6361649" type="UNKNOWN" weightage="60" keywordseo="goldman-sachs" source="Orion">Goldman Sachs</keyword> is looking to put together a $2 billion deal to buy Celsius assets if it goes bankrupt, CoinDesk reported. </li><li>The bank is approaching Web3 <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> funds and financial institutions to gauge their interest in the purchase.</li></ul>Goldman Sachs is looking to put together an estimated $2 billion deal to buy assets from troubled crypto lender <keyword id="12298676" type="UNKNOWN" weightage="60" keywordseo="celsius-network" source="Orion">Celsius Network</keyword> in the event that it goes bankrupt, <a href="https://www.coindesk.com/business/2022/06/24/goldman-sachs-raising-funds-to-buy-celsius-assets-sources/">CoinDesk reported</a> Monday. The suggested deal would allow investors to snap up Celsius assets on the cheap, sources familiar with the matter told the outlet.The investment bank is approaching Web3 crypto funds, funds specializing in distressed assets, and traditional financial institutions to gauge interest in the potential purchase, according to CoinDesk.Goldman was approached for help by an investor interested in exploring a move to pick up Celsius assets at a discount, potentially even if it doesn't collapse, <a href="https://blockworks.co/goldman-sachs-joins-deep-pocketed-investors-eyeing-crypto-lender-celsius-assets/">Blockworks reported</a>.The assets, if acquired, would not be managed by Goldman Sachs, but by individuals involved in the fundraising process, the reports said. The bank would act as a broker and not invest itself.Celsius and Goldman Sachs did not immediately respond to Insider's request for comment. Celsius has been hit by the ongoing <a href="https://markets.businessinsider.com/news/currencies/bitcoin-price-today-cryptocurrencies-celsius-collapse-inflation-dampen-confidence-2022-6">crypto-market crash</a>, which has been fueled by investors fleeing high-risk assets in response to rising interest rates and historically high inflation. In a surprise move earlier this month, the lender <a href="https://markets.businessinsider.com/news/currencies/crypto-lender-celsius-freeze-withdrawals-transfers-accounts-market-tumble-bitcoin-2022-6">froze all withdrawals, swaps, and transfers</a>, citing extreme market conditions and volatility, in a bid to stabilize its liquidity. Some interpreted this as a red flag that Celsius was facing risks of insolvency. That spread <a href="https://www.businessinsider.com/celsius-crypto-lending-customers-frozen-withdrawals-liquidity-defi-2022-6?r=US&amp;IR=T">nervousness and fear among its customers</a>, who said they had no idea what would happen to their deposits.Celsius' recent <a href="https://markets.businessinsider.com/news/currencies/crypto-celsius-hires-restructuring-lawyers-freeze-withdrawals-lender-accounts-risk-2022-6">hiring of restructuring lawyers</a> to help advise on its mounting pile of financial issues has only added to the concerns about a potential bankruptcy. It has also enlisted experts from a restructuring advisory firm, <a href="https://affiliate.insider.com?u=https%3A%2F%2Fwww.wsj.com%2Farticles%2Fcelsius-network-taps-more-advisers-to-prepare-for-potential-bankruptcy-11656088078%3Fmod%3DSearchresults_pos3%26page%3D1">The Wall Street Journal reported</a>. According to Celsius' <a href="https://celsius.network/">website</a>, the company has $11.8 billion in assets as of May 2022 and has 1.7 million users on its platform.Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-undervalued-5-dividend-aristocrats-with-big-upside-2022-6?r=US&amp;IR=T" target="_blank" rel="noopener noreferrer">Investing in a recession: When the stock market crashes, opportunities to snap-up the best companies at great prices emerge. Here are 5 undervalued 'dividend aristocrats' which combine consistent strong yields with up to 30% upside.</a>

Goldman Sachs is looking to raise $2 billion to buy Celsius assets at bargain prices if the crypto lender goes bankrupt: report

<ul class="summary-list"><li>The UK will unveil plans for regulating <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> in coming weeks, CNBC reported citing sources.</li><li>The Treasury plans are expected to be favorable to the industry and focus on stablecoins in particular.</li></ul>The UK is set to release its plans for regulating the crypto market in the coming weeks, and government officials have been talking to industry players such as crypto exchange Gemini in preparation, according to a CNBC <a href="https://www.cnbc.com/2022/03/27/crypto-britain-to-reveal-stablecoin-regulation-plans-sources-say.html">report</a>. The regulatory framework from the Treasury, the UK's finance ministry, will focus on stablecoins in particular, the outlet reported Sunday, citing industry sources familiar with the matter."Treasury officials have shown a willingness to understand the complexities of the crypto market and so-called stablecoins, digital assets that derive their value from existing currencies like the U.S. dollar," one source told CNBC. The UK's finance minister, Chancellor Rishi Sunak, is expected to announce the new rules for the crypto market soon, and they are likely to be favorable to the industry, the report said. The Treasury declined to comment in response to a request from InsiderThe crypto market has boomed over the past 18 months. Leading digital currencies <a href="https://markets.businessinsider.com/currencies/btc-usd">bitcoin</a> and <a href="https://markets.businessinsider.com/currencies/eth-usd">ethereum</a> logged a series of all-time highs during this time, though they have since fallen back, and offshoots such as NFTs and DeFi protocols also grew in popularity.<a href="https://markets.businessinsider.com/news/cryptocurrencies/cryptocurrency-explained-what-are-stablecoins-cbdcs-bitcoin-tether-ethereum-2021-7">Stablecoins</a>, which are digital currencies pegged to assets such as the US dollar, have also experienced a large uptick in usage in recent times, as they represent a stable investment compared with other more volatile cryptocurrencies. As a result, governments and regulators have scrambled to understand and properly monitor the industry. Some countries, such as <a href="https://markets.businessinsider.com/news/currencies/china-bans-cryptocurrency-transactions-bitcoin-ether-pboc-crackdown-regulation-markets-2021-9">China</a>, have decided to impose outright bans on crypto activities, while others look to understand and regulate the industry. The UK has, so far, fallen into the latter group, as it looks to work with the crypto industry to mitigate risks and facilitate a safe environment for investors. One focus is the potential use of cryptocurrencies in money laundering and other criminal activity, while Russian use to bypass sanctions over Ukraine is another concern.According to CNBC's sources, the UK government has been in consultation with several companies and trade groups, including the Winklevoss twins' exchange Gemini, which issues its own stablecoin, the <a href="https://markets.businessinsider.com/currencies/gusd-usd">Gemini dollar</a>.<a href="https://markets.businessinsider.com/news/currencies/stablecoin-tether-crypto-usdc-diem-risky-debt-market-fitch-regulation-2021-10">Stablecoins have raised concerns</a> among regulators, specifically around misrepresentation of the assets in the reserves that back these coins. That could cause problems if investors were to sell their holdings en masse, so they have become a focal point of regulatory discussion. To <a href="https://www.businessinsider.com/stablecoin">cushion them against the price swings</a> seen in other cryptocurrencies, stablecoins can be pegged to anything from gold to oil. But stablecoins pegged to government-issued currencies are the most popular – dollar-pegged <a href="https://markets.businessinsider.com/currencies/usdt-usd">tether</a>, for instance, is the world's third-largest <keyword id="11892695" type="UNKNOWN" weightage="60" keywordseo="cryptocurrency" source="Orion">cryptocurrency</keyword> by market value, according to CoinMarketCap data. To ensure a stablecoin holds onto its value, its issuer has reserves of the underlying asset. So for every tether coin issued, it has $1 in its reserves, and holders will always be able to exchange their tether coin for $1. Banks and other institutions have become increasingly interested in entering the crypto <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword>, and clear regulation is seen as necessary before they can dive in more deeply.On Thursday, the Bank of England noted this interest as it <a href="https://www.bankofengland.co.uk/financial-stability-in-focus/2022/march-2022">laid out ideas for the UK's first regulatory framework</a> for crypto assets. It has given banks a deadline of June 3 to set out crypto plans and said UK regulators are likely to need new powers.BoE deputy governor Sam Woods, <a href="https://www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/letter/2022/march/existing-or-planned-exposure-to-cryptoassets.pdf?la=en&amp;hash=9C23154F16580082C3DD6437B4C3352591A0F946">wrote</a> that discussions are ongoing internationally on the treatment of stablecoins and his office will continue to consult firms and trade groups throughout the process. Read more: <a href="https://www.businessinsider.com/inflation-busting-stocks-to-buy-top-money-manager-reveals-his-9-picks-2022-3" target="_blank" rel="noopener noreferrer">Inflation busting stocks: Top money manager lays out the 4-pronged investing strategy you can use to profit from inflation - and names 9 stocks to buy</a>

The UK will release plans to regulate the crypto market soon, and it's talking to the Winklevoss' Gemini among others about the move: report

<ul><li><keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">Bitcoin</keyword> fell as much as 4% on Tuesday after <keyword id="9747191" type="UNKNOWN" weightage="60" keywordseo="sec-chairman">SEC Chairman</keyword> nominee <keyword id="216123" type="PERSON" weightage="60" keywordseo="Gary-Gensler">Gary Gensler</keyword> testified that he would seek to eliminate fraud and manipulation from <keyword id="2721952" type="PERSON" weightage="60" keywordseo="crypto">crypto</keyword> <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword>.</li><li>Gensler said that the investor protections the <keyword id="6362470" type="ORGANIZATION" weightage="60" keywordseo="sec">SEC</keyword> seeks to enforce should ensure that crypto markets are "free of fraud and manipulation."</li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestmp;utm_medium=ingest" target="_blank" rel="noopener">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a>.</li></ul><a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> shed as much as 4% on Tuesday following Senate testimony from President Joe Biden's nominee for Chairman of the Securities and Exchange Commission, Gary Gensler.Gensler said that the SEC would seek to enforce investor protections in the crypto market, including ensuring that the custody of digital assets are safe and seeking to eliminate fraud and manipulation from cryptocurrency markets.The SEC must ensure that crypto markets "are free of fraud and manipulation, and I think that's the greater challenge, frankly, because some markets, usually operating overseas, have been rife with fraud," Gensler said.Bitcoin traded just below $50,000 Tuesday morning, before falling to $47,190 as of 2:15 p.m. Gensler has been viewed as <a href="https://www.businessinsider.com/bitcoin-biden-administration-cryptocurrency-win-over-community-2021-1">an advocate for cryptocurrencies,</a> given his past work and teachings on the subject at MIT. Despite the decline on Tuesday, bitcoin is still up more than 60% year-to-date.<div type="image" title="btc hcart.JPG" height="514" width="666" msid="81301949" hostid="261"></div>

You Searched For "crypto markets" and got 8 results

Bitcoin falls further after weekend rout wipes more than $400 billion from crypto markets

Harry Robertson

A new index tracking the performance of 240 digital currencies will let investors take the temperature of the crypto market

Ethan Wu

A top ECB official is urging a global crackdown on the crypto market to prevent a 'lawless frenzy'

Hamza Fareed Malik

Global crypto market hits $1.5 trillion as panic buying fuels Bitcoin price

IANS

The crypto market has lost 23% of its value in just the last 5 days

Carla Mozée

Goldman Sachs is looking to raise $2 billion to buy Celsius assets at bargain prices if the crypto lender goes bankrupt: report

Zahra Tayeb

The UK will release plans to regulate the crypto market soon, and it's talking to the Winklevoss' Gemini among others about the move: report

Adam Morgan McCarthy

Bitcoin falls 4% after Biden nominee Gary Gensler says SEC will seek to eliminate fraud and manipulation in crypto markets

Matthew Fox

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