Hot Minute News: Crypto chaos, crashing house prices and

Welcome back to Hot Minute News!

Here are three stories you need to know this week.

  • At number 3, the online furniture store has gone into administration, leading to hundreds of job losses and customers in the dark about refunds. Next is now buying Made’s name for £3.4m, but not the remaining stock.

  • At number 2, UK house prices fell last month, at the sharpest pace in almost two years. The average property value fell by 0.4%, marking the third month-on-month drop seen in the past four months.

  • And at number 1, cryptocurrency exchange giant Binance has pulled out of a proposed bailout deal of its troubled rival FTX. This leaves FTX on the brink of collapse, after they couldn't keep up with customer withdrawals. Of course, this rapidly developing story hasn’t played out well for the wider crypto market, with Bitcoin dropping below $16,000, its lowest price this year.

And that’s all for today! See you next week!

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Meet the authors

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James Ashoo

Senior Content Writer

James has been investing for over five years. His aim is to explain the hard stuff, easily! When he's not chewing your ear off about stocks and crypto, he'll most likely be telling bad jokes.

Harjas Singh

Harjas Singh

Chief Product Officer & Co-Founder

With a wealth of experience in fintech, Harjas is the man in the know when it comes to all things product. Investing features, chatting capabilities and thriving communities – he oversees all development on the Shares app!

Harry Harrison

Harry Harrison

Finance Writer

Harry is an experienced business writer, with a love for all things tech. In his free time, he enjoys reading, playing sport and winning at chess. He also loves posting inside the Shares app!