Bitcoin

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 Justin Tallis | AFP via Getty Images Investors have withdrawn more than $7 billion from tether since it briefly dropped from its dollar peg, raising fresh questions about the reserves underpinning the world’s largest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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 billion in bitcoin was sold in a last-ditch attempt to save UST stablecoin from collapse
World

$3 billion in bitcoin was sold in a last-ditch attempt to save UST stablecoin from collapse

Bitcoin fell below the $26,000 level since December 2020. (Photo credit should read CFOTO/Future Publishing via Getty Images) CFOTO | Future Publishing via Getty Images Investors have been eager to find out what happened to the more than $3 billion in bitcoin bought up by crypto firm Terra to back its failed stablecoin. Now, they’ve […]

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Regulators are growing anxious about stablecoins after Terra’s stunning collapse
Technology

Regulators are growing anxious about stablecoins after Terra’s stunning collapse

The entire stablecoin market is now worth more than $160 billion. Justin Tallis | AFP via Getty Images Regulators are getting increasingly worried about stablecoins after the collapse of controversial cryptocurrency venture Terra. TerraUSD, an “algorithmic” stablecoin that’s meant to be pegged one-to-one with the U.S. dollar, has erased much of its value this week […]

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World’s biggest stablecoin regains dollar peg after  billion in withdrawals
Technology

World’s biggest stablecoin regains dollar peg after $3 billion in withdrawals

Tether has long faced questions over whether it has enough assets to justify its peg to the dollar. Tiffany Hagler | Bloomberg via Getty Images Tether, the world’s largest stablecoin, regained its peg to the dollar after more than $3 billion worth of tokens left the system in a single day. The cryptocurrency — which […]

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The world’s biggest stablecoin has dropped below its  peg
World

The world’s biggest stablecoin has dropped below its $1 peg

Crypto firm Tether has been reducing the amount of commercial paper in its reserves. Jakub Porzycki | Nurphoto | Getty Images Tether, the world’s largest stablecoin, broke below its $1 peg Thursday amid panic in the crypto market. The token sank to as low as 98 cents at around 3:30 a.m. ET, according to data […]

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Bitcoin tumbles below ,000 for first time since December 2020 as crypto sell-off intensifies
Finance

Bitcoin tumbles below $27,000 for first time since December 2020 as crypto sell-off intensifies

Bitcoin plunged further below the $30,000 mark as investors fled cryptocurrencies. Jaap Arriens | NurPhoto | Getty Images Bitcoin slumped below $27,000 Thursday for the first time in over 16 months, as cryptocurrency markets extended their losses amid fears over rising inflation and the collapse of a controversial stablecoin project. The price of bitcoin plunged […]

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Five U.S. states order a metaverse casino with alleged ties to Russia to halt sale of NFTs
Politics

Five U.S. states order a metaverse casino with alleged ties to Russia to halt sale of NFTs

Zoom In IconArrows pointing outwards Source: Flamingo Casino Club Regulators in five states simultaneously filed emergency orders Wednesday against a virtual casino they say has ties to Russia and that has been operating in the metaverse, a digital world where participants can interact with each other, purchase products and even gamble. State law enforcement officials […]

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