The Crypto Report: Cryptocurrencies rattled as Fed hints at aggressive rate hikes

Cryptocurrencies resumed their rollercoaster start to the year, dashing yesterday’s slim hopes of a fight-back, as markets tumbled across the world after federal reserve hinted at a string of interest hikes in the year ahead.

Bitcoin fell around 4%, to just above the $36,000 giving up all of Wednesday’s gains, as fears grow it could resume its flirtation with the key $32,500 level. Ethereum was around 3% lower at $2,400 – trading below its own psychologically important $2,500 price tag.

Facebook’s The Diem Association, the group that aimed to build a futuristic payments network, is according to the Wall Street Journal, reportedly selling its technology to a California bank named Silvergate Capital for about $200 million.