Bitcoin
South Korea is betting on the metaverse — and it could provide a blueprint for others
An attendant with the Meta Oculus Quest 2 headset on a virtual reality tour during the Mobile World Congress in Barcelona in March, 2022. South Korea is betting on the metaverse as the next big thing, but there are still questions over the shape the industry will take in the coming years. Joan Cros | […]
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Some investors got rich before a popular stablecoin imploded, erasing $60 billion in value
WASHINGTON — In May, the collapse of one of the most popular U.S. dollar-pegged stablecoin projects cost investors tens of billions of dollars as they pulled out in a panic that some have compared to a bank run. But before that, the stablecoin known as terraUSD (or UST, for short) and its sister token luna, […]
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$60 billion collapse of major cryptocurrency is not the industry’s Bear Stearns moment — senators and regulators explain why
WASHINGTON — It’s been a brutal few weeks for the crypto market. Half a trillion dollars was wiped off the sector’s market cap as terraUSD, one of the most popular U.S. dollar-pegged stablecoins, imploded virtually overnight. Meanwhile, digital coins such as ether continue to take a beating on the price charts, as the sell-off keeps […]
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JPMorgan sees upside for bitcoin after recent washout
Bitcoin investors have been swept up in the market carnage this year, but those still holding on should expect at least 30% upside to the cryptocurrency from here, according to JPMorgan strategist Nikolaos Panigirtzoglou. He reiterated in a note this week that bitcoin’s fair value is at the $38,000 level, which implies upside of about […]
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SEC’s Hester Peirce says the U.S. has dropped the ball on crypto regulation
WASHINGTON — The U.S. has dropped the ball on crypto regulation, according to Securities and Exchange Commissioner Hester Peirce, and she says the knock-on effects of that failure keep her up at night. “There’s a lot of fraud in this space, because it’s the hot area of the moment,” Peirce told CNBC on the sidelines […]
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Terra backers vote to revive luna — but not UST — after $60 billion crypto collapse
The UST stablecoin plunged below its intended $1 peg in May, causing panic in the crypto market. Gabby Jones | Bloomberg | Getty Images Backers of Terra have approved a plan to revive the failed cryptocurrency venture — without the controversial stablecoin that helped trigger its stunning demise two weeks ago. “With overwhelming support, the […]
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Andreessen Horowitz raises $4.5 billion crypto fund to take advantage of bargains in down market
Chris Dixon, General Partner at Andreessen Horowitz, discusses cryptocurrency during the TechCrunch Disrupt forum in San Francisco, October 2, 2019. Kate Munsch | Reuters Andreessen Horowitz plans to plow billions of dollars into crypto start-ups while digital asset markets are in a rut. The Silicon Valley firm announced a new $4.5 billion fund for backing […]
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Bitcoin Pizza Day and NFTs: Crypto players take over main strip in Davos even after market crash
DAVOS, Switzerland — Crypto-related technology companies are out in force at the annual World Economic Forum in Davos, even after a recent market crash that has wiped off billions of dollars of value from the digital currency market. The Promenade, a main strip where companies and governments take over shops and bars during the week […]
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Bitcoin could fall to $8,000, a more than 70% plunge, Guggenheim’s Minerd says
Scott Minerd, Guggenheim Partners LLC Global Chief Investment Officer, at the WEF in Davos, Switzerland on May 23rd, 2022. Adam Galici | CNBC Bitcoin could drop further and fall to $8,000 from its current levels, Guggenheim Chief Investment Officer Scott Minerd predicted Monday. That would represent a more than 70% drop to Monday morning’s price of […]
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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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