Crypto-asset prices continued to crash, continuing to take their lead from equity markets and particularly tech stocks. In the background:

• On Sunday (June 12, 2020) crypto lending service Celsius paused withdrawals, swaps, and transfers between accounts, citing “extreme market conditions.” It did not provide a timeline for resuming normal operations. New Jersey-based Celsius, which has around $11.8 billion in assets, offers interest-bearing products to customers who deposit cryptocurrencies with its platform. It then lends out cryptocurrencies to earn a return. [Read more]
• Today (June 13, 2020) Binance resumed bitcoin withdrawals after temporarily pausing them due to a “stuck on-chain transaction.” [Read more]

Upcoming events I’m affiliated with:

The CBDC Think Tank is hosting a CBDC Papers Lecture Series on June 17 and 24 starting at 7am EST and running for 4 hours each day. [View list of papers and register here]