The Magazine for Asian Investors
This morning in Asia (June 9) the bitcoin price fell by 2.79% moving at $30,309.98.
After the Dow Jones dropped 269 points on Wednesday (June 8), Bitcoin moved into negative territory this morning.
- The DOW fell 269.24 points, or 0.81%, to 32,910.90 points.
- The S&P 500 fell 44.91 points, or 1.08%, to close at 4,115.77.
- The Nasdaq fell 88.96 points, or 0.73%, to close at 12,086.27.
Movement in the Crypto Space
Most recently, Anne Bowden, founder of Starling Digital banks, which are backed by Goldman Sachs, emphasized the risks of cryptocurrencies. She states that digital currencies threaten the security of the payments infrastructure.
Currently, major payment companies such as MasterCard and Visa have supported cryptocurrencies by opening a network connected to digital assets, while PayPal has enabled its users to trade Bitcoins. Regulators are concerned that the financial system could connect to the more volatile world of cryptocurrencies.
The crypto market is in a downward trend. The total value of cryptocurrencies was reduced by about $400 billion last month. Investors are flocking to sell after many cryptocurrencies crashed.
Starling was founded in 2014 in England and offers a free audit and credit check service. Currently, the company is worth £2.5 billion ($3.1 billion).
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Thursday, June 8, 2022