Bitcoin

Crypto exchange FTX quietly shops for brokerage start-ups amid move into stock trading, sources say
Finance

Crypto exchange FTX quietly shops for brokerage start-ups amid move into stock trading, sources say

Sam Bankman-Fried, CEO of cryptocurrency exchange FTX, at the Bitcoin 2021 conference in Miami, Florida, on June 5, 2021. Eva Marie Uzcategui | Bloomberg | Getty Images FTX has been on the hunt to buy brokerage start-ups as the crypto exchange expands into stocks, and its CEO takes a major stake in Robinhood. The Bahamas-based […]

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Christine Lagarde says crypto is worth nothing
World

Christine Lagarde says crypto is worth nothing

The European Central Bank is exploring whether to issue its own digital alternative to cash. Olivier Matthys | AFP | Getty Images European Central Bank President Christine Lagarde thinks cryptocurrencies aren’t worth a dime. “My very humble assessment is that it is worth nothing,” Lagarde said of crypto in an interview with Dutch talk show […]

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Tether withdrawals top  billion as regulators raise alarm about stablecoins
World

Tether withdrawals top $10 billion as regulators raise alarm about stablecoins

Tether claims its dollar-pegged token is “fully backed.” Justin Tallis | Afp | Getty Images Investors have yanked more than $10 billion out of tether in the past two weeks amid heightened regulatory scrutiny over stablecoins. Tether, the world’s largest stablecoin, has seen its circulating supply plunge from a record $84.2 billion on May 11 […]

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Crypto as currency: managing your financial life using digital coins
Business

Crypto as currency: managing your financial life using digital coins

Many people have bought and sold cryptocurrencies as an investment, yet trying to live on a salary paid in crypto is tricky.  Alyssa Howell spent much of her career in the gold-mining industry before joining a crypto-wallet company last fall that pays all of its employees in bitcoin. The Denver-area resident said learning the ins […]

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Tether claims its stablecoin is now partially backed by non-U.S. government bonds
Technology

Tether claims its stablecoin is now partially backed by non-U.S. government bonds

Tether previously claimed its stablecoin was backed 1-to-1 by U.S. dollars. Justin Tallis | Afp | Getty Images The issuer of the stablecoin tether said in a report that the controversial digital currency is now backed in part by “non-U.S.” government bonds. Stablecoins are a type of cryptocurrency pegged to the value of sovereign currencies […]

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Jack Dorsey outlines Block’s bitcoin-centric future at first investor day in five years: ‘No longer just a payments company’
Finance

Jack Dorsey outlines Block’s bitcoin-centric future at first investor day in five years: ‘No longer just a payments company’

Twitter CEO Jack Dorsey addresses students during a town hall at the Indian Institute of Technology (IIT) in New Delhi, India, November 12, 2018. Anushree Fadnavis | Reuters Block executives no longer want the firm to be seen as a payments pure play. The San Francisco-based company held its first investor day in five years […]

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Bitcoin production has roared back in China thanks to an underground mining scene
Technology

Bitcoin production has roared back in China thanks to an underground mining scene

By September 2021, China made up just over 22% of the total bitcoin mining market, according to Cambridge University research. Paul Ratje | The Washington Post | Getty Images Bitcoin miners aren’t giving up in China despite Beijing’s ban on the practice. China was once the world’s biggest crypto mining hub, accounting for between 65% […]

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Robinhood to let users hold their own crypto and NFTs as it reaches for growth beyond stock trading
Finance

Robinhood to let users hold their own crypto and NFTs as it reaches for growth beyond stock trading

Vlad Tenev, CEO and co-founder Robinhood Markets, Inc., is displayed on a screen during his company’s IPO at the Nasdaq Market site in Times Square in New York City, U.S., July 29, 2021. Brendan McDermid | Reuters Robinhood is handing over the keys to some of its customers’ crypto. The trading and investing company announced […]

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Coinbase to slow hiring amid plunge in cryptocurrencies and tech stocks
Finance

Coinbase to slow hiring amid plunge in cryptocurrencies and tech stocks

Coinbase reported a 27% decline in revenues in the first quarter as usage of the platform dipped. Chesnot | Getty Images Coinbase has become the latest tech company to warn of a slowdown in hiring. The crypto exchange told staff Tuesday it would slow hiring and reevaluate its headcount, reversing earlier plans to triple its […]

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Investors withdraw over  billion from tether, raising fresh fears about stablecoin’s backing
Technology

Investors withdraw over $7 billion from tether, raising fresh fears about stablecoin’s backing

Tether has faced repeated calls for a full audit of its reserves. Justin Tallis | AFP via Getty Images Investors have withdrawn more than $7 billion from tether since it briefly dropped from its dollar peg, raising fresh questions about the reserves underpinning the world’s largest stablecoin. Tether’s circulating supply has slipped from about $83 […]

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