Bitcoin
Bitcoin billionaire Sam Bankman-Fried bails out embattled crypto firms BlockFi and Voyager
With no central bank willing to come to the rescue, beleaguered crypto companies are turning to their peers for help. Billionaire crypto exchange boss Sam Bankman-Fried has signed deals to bail out two firms in as many weeks: BlockFi, a quasi-bank, and Voyager Digital, a digital asset brokerage. FTX, Bankman-Fried’s crypto exchange, agreed Tuesday to […]
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Another ‘algorithmic’ stablecoin has fallen below its $1 peg — but experts say it’s not ‘Terra 2.0’
Cryptocurrencies have been under immense pressure after the collapse of a so-called stablecoin called terraUSD. Umit Turhan Coskun | Nurphoto via Getty Images A controversial stablecoin launched just before the collapse of a similar token called terraUSD is struggling to maintain its peg to the U.S. dollar. USDD, a so-called “algorithmic” stablecoin that’s meant to […]
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Bitcoin could plunge even further to a low of $13,000, one strategist warns
If crypto’s past bubbles are anything to go by, bitcoin could be about to fall much further. That’s according to one strategist, who warns the world’s top cryptocurrency is likely to tank as low as $13,000 — an almost 40% drop from current levels. “We would still be selling these kinds of cryptocurrencies into this […]
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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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Bitcoin rebounds, leading other cryptocurrencies higher, after its big dip over the weekend
Selim Korkutata | Anadolu Agency | Getty Images Bitcoin climbed on Tuesday after a slew of negative headlines had pushed the cryptocurrency to a new 2022 low over the weekend. The price of bitcoin jumped more than 7% to $21,617.70 around 10:50 a.m. ET, according to Coin Metrics. Over the weekend, it fell as low […]
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A crypto lending app tried to take over a ‘whale’ account to stop it from collapsing the system
The logo of cryptocurrency platform Solana. Jakub Porzycki | NurPhoto via | Getty Images Decentralized finance platforms are going to extreme lengths to limit the fallout from a sell-off in cryptocurrencies. Solend, a lending platform built on the Solana blockchain, tried to gain control of its largest account, a so-called “whale” investor that it said […]
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Bitcoin rebounds 8% but struggles to hold above $20,000
Bitcoin continues to trade around the $20,000 mark, keeping investors on edge about where the price is going next. Nurphoto | Getty Images Bitcoin jumped 8% on Monday after a sharp sell-off over the weekend but continues to teeter around the $20,000 mark, keeping investors on edge. The world’s largest cryptocurrency was trading at $19,935.98 […]
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What you need to know about staked ether, the token at the center of crypto’s liquidity crisis
Ether is the second-largest cryptocurrency in the world by market value. Jaap Arriens | NurPhoto via Getty Images Another controversial cryptocurrency is causing havoc in the digital asset market — and this time, it’s not a stablecoin. Staked ether, or stETH, is a token that’s supposed to be worth the same as ether. But for […]
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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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Why the $2 trillion crypto market crash won’t kill the economy
Francesco Carta Fotografo | Moment | Getty Images Carnage in the crypto market won’t let up, as token prices plummet, companies lay off employees in waves, and some of the most popular names in the industry go belly up. The chaos has spooked investors, erasing more than $2 trillion in value in a matter of […]
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