Bitcoin/USD Coinbase
The crypto collapse shows the Fed’s job is ‘almost complete’ against inflation, Jim Cramer says
CNBC’s Jim Cramer on Thursday said that the rapid slide in the cryptocurrency market shows that the Federal Reserve is making progress in its arduous struggle to tamp down inflation. “There is one front in the war on inflation that’s been an outstanding total victory for the Fed, and that’s the battle against financial speculation,” […]
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Bitcoin just had its worst month on record
Bitcoin just finished its worst month on record, losing more than 38% of its value in June, as of Thursday afternoon. Ether, the world’s second-biggest cryptocurrency by market capitalization, ended the same period down by about 47%. Though weakness in the digital assets sector is part of a broader flight from risk, confidence in the crypto market, in […]
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FBI adds ‘Cryptoqueen’ to Ten Most Wanted Fugitives List after alleged $4 billion OneCoin fraud
The Federal Bureau of Investigation seal is seen at FBI headquarters. Yuri Gripas | Reuters WASHINGTON — The FBI on Thursday added Dr. Ruja Ignatova, the self-proclaimed ‘Cryptoqueen,’ to its list of Ten Most Wanted fugitives, and is offering a $100,000 reward for information leading to her arrest. Ignatova, the founder of a cryptocurrency called OneCoin that […]
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Grayscale sues SEC after rejection of bid to turn the largest bitcoin fund into an ETF
The SEC on Wednesday rejected Grayscale’s application for a spot bitcoin ETF, citing a failure by the investment manager to answer questions about concerns around market manipulation. Nurphoto | Nurphoto | Getty Images Grayscale, which manages the world’s largest bitcoin fund, said it would sue the U.S. Securities and Exchange Commission after regulators turned down […]
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Crypto hedge fund Three Arrows Capital plunges into liquidation as market crash takes toll
Billions of dollars of value have been wiped off the cryptocurrency market in the last few weeks. Companies in the industry are feeling the pain. Lending and trading firms are facing a liquidity crisis and many firms have announced layoffs. Yu Chun Christopher Wong | S3studio | Getty Images Major cryptocurrency hedge fund Three Arrows […]
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One of the most prominent crypto hedge funds just defaulted on a $670 million loan
Bitcoin rallied to a record high of nearly $69,000 at the height of the 2021 crypto frenzy. In 2022, it’s moved in the opposite direction. Nurphoto | Getty Images Prominent crypto hedge fund Three Arrows Capital has defaulted on a loan worth more than $670 million. Digital asset brokerage Voyager Digital issued a notice on […]
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El Salvador’s $425 million bitcoin experiment isn’t saving the country’s finances
A bystander uses a Bitcoin ATM in San Salvador, El Salvador, on May 16, 2022. Alex Pena | Anadolu Agency | Getty Images El Salvador bet its economic salvation on bitcoin, but so far the gamble isn’t paying off like President Nayib Bukele hoped it would. The government’s crypto coffers have been cut in half, […]
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South Korea puts crypto company Terraform Labs’ staff on no-fly list
The collapse of the Terra ecosystem will go down as one of the most painful and devastating chapters in crypto history. Gabby Jones | Bloomberg via Getty Images Several employees of South Korea-based Terraform labs, the company behind the stablecoin TerraUSD, which collapsed last month and roiled cryptocurrency markets, cannot leave the country, prosecutors said. […]
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Crypto start-up MoonPay launches NFT platform with Universal, Fox
MoonPay co-founder and CEO Ivan Soto-Wright at the Bitcoin 2022 conference in Miami. MoonPay Crypto start-up MoonPay said Tuesday that it’s partnering with Universal Pictures, Fox Corporation and Snoop Dogg’s Death Row Records, among other brands, to launch a new NFT platform called HyperMint. The new platform enables large brands, agencies, and enterprises to mint […]
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Bitcoin drops below $18,300 as sell-off accelerates — here’s what happened
Bitcoin plunged to $18,248, and ether fell to $944 as of mid-afternoon on Saturday, as the sell-off in the crypto market accelerates. The world’s two most popular cryptocurrencies are down more than 35% in the past week, as both breach symbolic price barriers. Carnage in the crypto market is partly to do with pressure from […]
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