CoinMarketCap News, June 16: Celsius Customer's Heart-Breaking Message to CEO
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CoinMarketCap News, June 16: Celsius Customer's Heart-Breaking Message to CEO

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5 months ago

"I had 45 ETH which I was saving for my new house. I'm crying and praying to God that I will be able to get that money out."

CoinMarketCap News, June 16: Celsius Customer's Heart-Breaking Message to CEO

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Fed unveils biggest rate hike since 1994 🇺🇸

The Federal Reserve has announced the biggest interest rate hike since 1994. It's going up by three-quarters of a percentage point — 75 basis points — and the U.S. central bank "anticipates ongoing increases" later this year. Economists are battling to bring inflation under control, with the Consumer Price Index surging to 8.6% in May. This took the markets by surprise, with the Fed accused of failing to do enough to tackle the cost-of-living crisis. Bitcoin remained above the psychologically significant threshold of $20,000 when the announcement was made — and brutal sell-offs earlier on Wednesday were linked to nerves over what would be announced.

Saylor says MicroStrategy is 'comfortable' 💰

Michael Saylor has defended MicroStrategy's decision to invest heavily in Bitcoin. Damping down fears surrounding the $205 million loan that the business intelligence firm has with SIlvergate Bank, which is backed by BTC, he told CNBC that MicroStrategy is "10x overcollateralized right now." The CEO added: "The margin call thing is much ado about nothing. It's just made me Twitter famous, so I appreciate that. And the Twitter trolls love to beat up on me because it gets them engagement." Saylor went on to stress that the margin loan is "well-managed" — and his company is "comfortable" thanks to a "fortress balance sheet."

Celsius CEO breaks his silence 😞

The embattled CEO of the Celsius Network has broken his silence on Twitter — with the crypto lender's customers now unable to access their digital assets for a fourth day. Stressing that his team is working "non-stop," CEO Alex Mashinsky said: "This is a difficult moment; your patience and support mean the world to us." One user who responded to Maskinsky's Twitter post had a simple message: Don't let me down. Henry wrote: "I had 45 ETH which I was saving for my new house. I'm crying and praying to God that I will be able to get that money out. It took four years and me working 100 hours every week to save. Can't sleep."

Tether rejects 'false rumors' 😬

Tether has condemned "false rumors" surrounding its commercial paper portfolio, as fears grow that the world's biggest stablecoin is susceptible to collapse during the bear market. In a statement, the company that issues the digital asset dismissed claims that 85% of its commercial paper portfolio derives from Asian markets — and that it's currently trading at a 30% discount. Warning that "simple users" risk taking the biggest hit as "coordinated funds" cash in on the uncertainty, Tether added: "These rumors are completely false and likely spread to induce further panic in order to generate additional profits from an already stressed market."
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