Tag Archives: Bitcoin

Bitcoin and Ether both fell in Monday morning trading in Asia along with all of the top 10 non-stablecoin cryptocurrencies by market capitalization. With the exception of XRP, all the top 10 also lost ground over the last seven days as more details emerged about the failure of the FTX exchange. In addition, FTX appealed to other exchanges to help track the hacker who stole an estimated US$600 million from the Bahamas-based exchange and began moving the funds into other tokens. See related… Source link

‘They will come to a bad ending’: A year since its $69K peak, Bitcoin has plummeted more than 70% — here’s why Warren Buffett has hated cryptocurrency all along It’s been a tough year for Bitcoin and its backers. And even back in 2018, the Oracle of Omaha predicted that it and other cryptocurrencies were headed for trouble. “They will come to a very bad ending,” Warren Buffett told CNBC at the time. After hitting an all-time peak of around $69,000 per unit on November 10, 2021, the world’s… Source link

Cryptocurrencies plunged Tuesday as investors digested an emergency deal struck for an undisclosed sum between major crypto exchanges Binance and FTX. Bitcoin (BTC-USD) tumbled 13% over the last 24 hours from $19,800 to a period low of $17,603, the largest one-day drop since June. It has since recovered above $18,600 per coin. The second largest cryptocurrency, ether (ETH-USD) sold off by 15% on the day from $1,468 to $1,318. FTX’s exchange token FTT, fell by as much as 84% on the day from… Source link

Core Scientific (CORZ) will not make debt payments due in October and November, according to a new securities filing. Shares of the bitcoin mining company were down as much as 76% on Thursday morning. Core said it’s exploring alternatives to its capital structure and is working with financial and legal advisers but noted that it might have to file for bankruptcy. — in which case common stock holders would completely lose their investments. “Given the uncertainty regarding the Company’s… Source link

Grayscale Investments filed its first brief last week in its legal battle with the Securities and Exchange Commission over the agency’s refusal to let it convert its bitcoin fund into an exchange-traded fund. In an interview Monday for Yahoo Finance’s All Markets Summit, Grayscale CEO Michael Sonnenshein says that the litigation transcends its own attempts to launch a spot bitcoin ETF. “We really feel that this lawsuit isn’t about bitcoin,” Sonnenshein told Yahoo Finance’s… Source link

Addressing Bitcoin’s energy-intensive proof-of-work model would encourage greater institutional adoption, according to one chief executive who has focused on sustainability for more than eight years. Bradford Van Voorhees, CEO and co-founder of Sustainable Bitcoin Protocol, told CoinDesk that negative media, misperceptions of Bitcoin’s environmental impact and its sizable energy consumption all currently hinder institutional adoption. Bradford Van Voorhees is presenting at Investing in… Source link

(Bloomberg) — At first blush, Bitcoin becoming less volatile than stocks might appear like a positive development. But crypto traders are warning that in a low-volume environment, that might not be a great thing. Most Read from Bloomberg The coin’s 30-day realized volatility has “dropped sharply” in recent days, according to Noelle Acheson, author of the “Crypto is Macro Now” newsletter. It’s currently at around 52% after spending the past month above 64% on an annualized basis,… Source link

Bitech Technologies Corporation Costa Mesa, CA, Sept. 09, 2022 (GLOBE NEWSWIRE) — Bitech Technologies Corporation [OTCQB: BTTC] (“Bitech” or “Bitech Technologies”), a global technology solution provider dedicated to providing a suite of green energy solutions with a focus in cryptocurrency mining, data centers and other renewable energy initiatives, announced today it has signed a non-binding Letter of Intent (LOI) to enter into a Joint Venture with GreenTek Mining LLC… Source link

Bitcoin prices have been trading close to $20,000 at a time when search interest is relatively low. … [+] (Photo by Nicolas Economou/NurPhoto via Getty Images) NurPhoto via Getty Images Bitcoin prices dropped under $20,000 yesterday, reaching a roughly six-week low, and they have failed to recover since then. The digital currency briefly dipped below this key, psychological level early on August 27, according to TradingView data. Later that day, the cryptocurrency… Source link

Payments company Block (SQ) announced second quarter results Thursday that showed bitcoin revenue from its Cash App product fell 34% to $1.79 billion, with the company taking a $36 million charge on its bitcoin investments. Gross profit in the quarter totaled $1.47 billion against Wall Street expectations for $1.46 billion, while adjusted earnings per share of $0.18 topped estimates for $0.16. Excluding bitcoin, total net revenue in the second quarter was $2.62 billion, up 34% year over… Source link