(Bloomberg) — Bitcoin plunged to the lowest in about 18 months after the freezing of withdrawals by the Celsius lending platform added to concern that systemic risk in the crypto ecosystem will accelerate the digital-asset market meltdown. The world’s largest digital token tumbled as much as 17% to $22,603 — its lowest since December 2020. […]
Read More(Bloomberg) — Bitcoin miners are beginning to sell tokens they’ve hoarded to cover burgeoning costs with the prospects for industry growth slowing and the price of the largest cryptocurrency showing few signs of rebounding following the recent collapse from record highs. Miners transferred about 195,663 coins to exchanges in May, the biggest monthly increase since […]
Read More(Bloomberg) — Crypto had another bad week — and it may only get weirder. Bitcoin led a decline in digital assets across the whole crypto spectrum, with the world’s largest token set for an eighth straight weekly loss in its longest such slump since August 2011. Bitcoin fell 2.4% on Friday to about $28,700 as […]
Read More(Bloomberg) — The first US Bitcoin-futures backed exchange-traded fund is turning into a target for crypto bears. Short interest in the $748 million ProShares Bitcoin Strategy ETF (ticker BITO) as a percentage of shares outstanding is nearly 11%, close to the highest since the fund’s October 2021 inception, IHS Markit Ltd. data show. Meanwhile, the […]
Read More(Bloomberg) — Bitcoin staged a modest recovery to trade at around $30,000, extending a period of relative market calm after the collapse of a closely watched stablecoin roiled digital assets in the past week. The largest cryptocurrency advanced 3.4% n Sunday to $30,350 as of 4 p.m. in New York. Ether, the second-biggest token, rose […]
Read MoreFor investors, Bitcoin (BTC) may be the most surprising asset class in recent times. Even as it displays schizophrenic and volatile price swings, the cryptocurrency has also emerged as the best-performing asset in the last decade. It has, at various times, outperformed the S&P 500 and diminished gold’s luster as a store of value. Because […]
Read More(Bloomberg) — Coinbase Global Inc., like the rest of the cryptocurrency market, is having a really tough week. Not filing-for-bankruptcy bad, but the biggest US crypto exchange did just mention the B-word in a regulatory filing, giving its customers a painful reminder of how bad things could get for them if Coinbase ever does get […]
Read MoreSince their introduction to the mainstream in 2009, cryptocurrencies have experienced rapid growth in value, utility, and popularity. Several are accepted by many retailers and merchants, and investors are eyeing them as a possible way to earn returns and store value. Governments are trying to figure out how to tax and regulate them. Ethereum, the […]
Read More(Bloomberg) — Few companies are tethered as closely to Bitcoin as MicroStrategy Inc., a software company that’s plowed its profits and borrowed money into the cryptocurrency. Shares of the Tysons Corner, Virginia-based company have tumbled alongside Bitcoin, dropping more than 50% since the end of March to around $230. Yet options activity shows some investors […]
Read More(Bloomberg) — Coinbase Global Inc. shares tumbled after first-quarter revenue missed estimates and the largest U.S. cryptocurrency exchange warned that total trading volume in the current quarter will be lower than in the first. The company’s shares fell about 14% after the close of regular trading. Monthly transacting users fell to 9.2 million, below an […]
Read More(Bloomberg) — There’s a crypto refrain when prices crash precipitously like this: The selloff is washing out the short term-focused non-believers, known as weak hands, strengthening the industry in its wake. It’s a glib way to think of all those who had joined the market as Bitcoin’s price rose to an all-time high at the […]
Read More(Bloomberg) — Bitcoin is falling toward levels last seen in July 2021, part of a wider retreat in cryptocurrencies amid a global flight from riskier investments. The world’s largest digital token dropped as much as 2.7% on Monday and was trading at $33,741 as of 12:40 p.m. in Singapore. The second biggest, Ether, shed as […]
Read More(Bloomberg) — At a posh financial-industry gathering known for swaying palm trees and late-night yacht parties, this year’s main attraction was a face-off between a crypto billionaire and a futures-exchange kingpin. There was Sam Bankman-Fried, whose FTX platform has rapidly become a dominant venue for investing in virtual coins, going toe-to-toe with Terry Duffy, the […]
Read More(Bloomberg) — Weakness in the crypto market is providing a sobering backdrop for bullish forecasts, but adherents remain undeterred. Trading-platform Crypto.com estimates 1 billion people will invest in cryptocurrencies by the end of this year. It’s a lofty target. Not only is it more than triple the amount from last year, based on the company’s […]
Read MoreThis week, America’s first blockchain-based stock exchange obtained regulatory approval from the Securities and Exchange. In a filing the SEC uploaded to its website on late Thursday evening, it said the Boston Security Token Exchange (BSTX) could use the nascent technology to offer faster trade settlements. Compared to a traditional exchange where it typically takes […]
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