Cryptocurrency
Bitcoin drops more than 10% on Monday, dips below $31,000 just days after topping $40,000
Bitcoin dropped more than 10% on Monday, dipping below $31,000 after touching a recent high of $40,000 last week. The price of bitcoin was last down 10.6% at $30,914.84, according to Coin Metrics. The cryptocurrency is at its weakest point since last July when Bitcoin traded as low as $29,839.80 – the last time bitcoin […]
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A $3.5 billion bet on bitcoin becoming a ‘reserve currency’ for crypto is being put to the test
Pedestrians walk past a display of cryptocurrency Bitcoin on February 15, 2022 in Hong Kong, China. Anthony Kwan | Getty Images A multibillion-dollar bet that bitcoin can act as a “reserve currency” for the crypto economy is already being tested as UST, a controversial stablecoin, struggles to maintain its $1 peg. UST dropped close to […]
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Bitcoin drops below $35,000 over the weekend, extending Friday’s losses
Bitcoin is a volatile asset, and has been known to swing more than 10% higher or lower in a single day. Jakub Porzycki | Nurphoto | Getty Images Bitcoin continued to slide after a broader stock sell-off in the U.S. last week sent the cryptocurrency market into a frenzy and prompted bitcoin to plummet by […]
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Nvidia didn’t tell investors enough about effects of crypto mining on its business, SEC says
A sign is posted in front of the Nvidia headquarters on May 10, 2018 in Santa Clara, California. Justin Sullivan | Getty Images Nvidia will pay $5.5 million as part of a settlement with the SEC that it did not properly inform investors about how cryptocurrency miners were stoking demand for its graphics cards. Nvidia […]
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Bitcoin drops nearly 10% as $126 billion is wiped off the cryptocurrency market
Bitcoin fell sharply after a sell-off of major U.S. stock indices. Bitcoin has been correlated closely to the price movement of the Nasdaq index. Luke MacGregor | Bloomberg | Getty Images Bitcoin cratered on Thursday as a major stock sell-off in the U.S. spooked the cryptocurrency market. Bitcoin was down about 9.6% at $35,743.22 on […]
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Luna Foundation Guard further bolsters stablecoin reserve by raising $1.5 billion in bitcoin
People walk through the North American Bitcoin Conference held at the James L Knight Center on January 18, 2022 in Miami, Florida. Joe Raedle | Getty Images The Luna Foundation Guard has acquired $1.5 billion in bitcoin to bolster the reserves of its most popular stablecoin, known as U.S. Terra. Stablecoins are cryptocurrencies that aim […]
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New York is close to a bitcoin mining crackdown — here’s what that means for the industry
The state of New York wants to ban new bitcoin mining operations, a move that some industry insiders fear could have a domino effect across the U.S. The bill, which is swiftly making its way through the state capitol in Albany, calls for a two-year moratorium on certain cryptocurrency mining operations that use proof-of-work authentication […]
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Binance is backing Elon Musk’s Twitter acquisition — here’s why it’s a big deal for crypto enthusiasts
Binance is the world’s largest crypto exchange, handling billions of dollars in trading volumes on a daily basis. STR | NurPhoto via Getty Images Bitcoin exchange Binance’s move to participate in Elon Musk’s $44 billion takeover of Twitter could boost digital currency evangelists’ hopes for the development of a more “decentralized,” crypto-friendly social media platform. […]
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Bitcoin jumps to $40,000 after Fed chair Powell rules out bigger rate hikes
Crypto industry players who are bullish on bitcoin point to various reason why they think the digital currency will go up, including rising inflation and increasing institutional investor participation. But an uncertain regulatory environment continues to prove a headwind for bitcoin. STR | NurPhoto via Getty Images The price of bitcoin climbed about 6% Wednesday […]
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France becomes first big European nation to grant crypto giant Binance regulatory approval
Binance CEO Changpeng Zhao gave a keynote at a Paris crypto industry event in April 2022 to debut a new accelerator program for so-called “Web3” start-ups. Benjamin Girette | Bloomberg | Getty Images Binance has been granted approval from regulators to operate its cryptocurrency exchange in France. The company is now listed as a registered […]
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