Bitcoin
Crypto developers descend on Paris to party underground at the Catacombs as turmoil grips the industry
Skulls and bones stacked at the Catacombs of Paris AFP/Patrick Kovarik PARIS — About 65 feet below ground level in Paris is a labyrinth of centuries-old tunnels known as the Catacombs, which hold the skeletal remains of around six million Parisians. Legend has it that plague victims comprised some of the bones lining the hallways. […]
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Former employees say issues plagued the crypto company Celsius years ahead of bankruptcy
Problems at Celsius appear to have been simmering for years before the crypto lender filed for bankruptcy. The crypto company saw a range of internal missteps leading up to its recent turmoil, according to former employees and internal documents CNBC reviewed. Multiple employees painted a picture of risk-taking, disorganization and alleged market manipulation. “The biggest issue […]
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Crypto miners moved over $300 million of bitcoin in one day, and some are dropping out altogether
New data from blockchain analytics firm CryptoQuant shows that miners are rapidly exiting their bitcoin positions. 14,000 bitcoin, worth more than $300 million at its current price, was transferred out of wallets belonging to miners in a single 24-hour period at the end of last week — and in the last few weeks, miners have […]
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Coinbase pops 17% as cryptocurrencies like bitcoin and ether rally
Monitors display Coinbase signage during the company’s initial public offering (IPO) at the Nasdaq MarketSite in New York, on Wednesday, April 14, 2021. Michael Nagle | Bloomberg | Getty Images Shares of Coinbase popped 17% on Monday as cryptocurrencies like bitcoin and ether rallied. Bitcoin, the world’s largest cryptocurrency, was trading at $22,269, up around […]
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Bitcoin tops $22,000 as crypto market hopes contagion and shakeout is over; ether jumps 9%
Bitcoin and cryptocurrency prices have been under pressure in 2022 with traders feeling the fallout from a number of major collapses in the industry. Selim Korkutata | Anadolu Agency | Getty Images Bitcoin bounced above $22,000 on Monday, hitting its highest level in more than a month as the cryptocurrency market held out hope that […]
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From $25 billion to $167 million: How a major crypto lender collapsed and dragged many investors down with it
Celsius filing for bankruptcy this week surprised virtually no one. Once a platform freezes customer assets, it’s typically all over. But just because the fall of this embattled crypto lender didn’t come as a shock, doesn’t mean it wasn’t a really big deal for the industry. In October 2021, CEO Alex Mashinsky said the crypto […]
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For bitcoin to bottom here’s what the market wants to see — and it could mean a further 30% drop
Cryptocurrencies have taken a tumble in 2022. Chesnot | Getty Images An improvement in macroeconomic factors, a particular trading pattern and a further shakeout of companies and projects could be the key ingredients required for bitcoin and the broader crypto market to bottom, industry players told CNBC. Bitcoin has plummeted more than 70% from its […]
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This ‘crypto winter’ is unlike any downturn in the history of digital currencies. Here’s why
There’s something about the latest crypto crash that makes it different from previous downturns. Artur Widak | Nurphoto | Getty Images The two words on every crypto investor’s lips right now are undoubtedly “crypto winter.” Cryptocurrencies have suffered a brutal comedown this year, losing $2 trillion in value since the height of a massive rally […]
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Crypto needs regulation — technology can’t remove all financial risks, BOE’s Cunliffe says
Regulators need to “get on with the job” of bringing the use of crypto technologies within the “regulatory perimeter,” says Jon Cunliffe, Bank of England’s deputy governor for financial stability. Speaking at the British High Commissioner’s residence in Singapore on Tuesday, Cunliffe shared insights on the recent “crypto winter,” which refers to a period of […]
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New York judge freezes assets of Three Arrows Capital as crypto firm’s founders remain underground
A federal judge in a New York bankruptcy court has frozen the remaining assets of crypto hedge fund Three Arrows Capital following the firm’s rapid fall from prominence. The fund, founded nearly a decade ago, managed $10 billion in assets just a few months ago. Now, its two co-founders are in hiding from angry creditors, […]
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