Daily Crypto News | June 16th, 2022

1. Celcius CEO Alex Mashinky Spoke Up After 3 Days Of Silence

3 days since the suspension on Celcius on Sunday night, Celcius CEO Alex Mashinky finally went on Twitter to give some words to the public. He claimed that the team behind Celcius has been working “non-stop” in order to solve the issue. He tweeted “This is a difficult moment; your patience and support mean the world to us.”

It would seem that Alex Mashinky does not intend on announcing a specific date for the reallowance of withdrawals, swapping, and transactions on this platform. This will still remain a question for a lot of users, as the only thing they got from Mashinky’s tweet was  a request for their further patience.

2. Bitcoin Recovers After FED Upped Interest Rates

On Wednesday, Bitcoin’s price was reported to drop close to $20,000 before slowly appreciating in value up to about $22,000 after the Federal Reserve’s announcement. The announcement stated that the Federal Reserves had made a decision to increased interest ates by 0.75%, the largest increase since 1994.

It was also noted by the central bank that this is not the end, as more raises are expected to come within the second half of 2022. This had led Bitcoin to fall to $20,392 just yesterday, then bounce back to over $21,500, according to CoinMarketCap.

3. Crypto Wallets Spotted And Patched Serious Security Bug

Solana wallet Phantom is said to have patched a serious vulnerability that affects the security of MetaMask, Phantom, Brave, and XDefi browser extension wallets. This bug might automatically store the secret recovery phrases to the hard drive when one tries to log in to their extension wallets.

The issue was found by a blockchain cybersecurity firm called Halborn back in May 2021. Ethereum wallet MetaMask had already patched this bug with version 10.11.3, and informed that mobile app users wouldn’t be exposed to this vulnerability. Solana’s Phantom has also successfully finished patching in April this year.

4. Crypto Winter Layoffs: How Bad Is It?

A massive crypto winter layoff is now clearly seen, because big crypto platforms are showing no interest in expanding their workforce. In fact, Coinbase has stopped accepting job applications, both Gemini and Mexican biggest exchange Bitso have cut down 10% on their staff, and Argentina-based crypto exchange Buenbit laid off almost half of their workers.

But at the end of the day, this is not likely to be the doomsday of crypto. this is the chance for big ctrypto firms to revise their spendings so the crypto industry could grow to the next stage.

5. TAG Heuer’s New Fashion: NFTs On Your Wrist

TAG Heuer, a luxury watch brand, has confirmed their new Connected Calibre E4 watches, which will enable NFTs to be display on the digital watch screen. Contrary to the depressing state that the crypto markets are in, fashion in crypto is still on its way to become a global thing. This new watch by TAG Heuer supports Ledger and Metamask wallets, allowing users to show their GIF and JPEG NFTs. Who knows what would come next?