Tag Archives: crypto

Cryptocurrencies lost momentum on Thursday, tumbling sharply after the outcome of the Federal Reserve’s Wednesday Open Markets Committee meeting gave digital coins a fleeting boost. After briefly appearing to decouple from risk-sensitive stocks, Bitcoin (BTC-USD), Ethereum (ETH-USD) and its crypto cohorts ended Wednesday’s whipsaw session in the red, along with Wall Street. The reversal signaled the correlation with equities was not likely to end anytime soon, especially with the Fed poised… Source link

The new year has been upon us for less than a month, but the Great Crypto Crash of 2022 has already caused a lot of investors pain. The risk aversion dogging Wall Street has infected cryptocurrencies, resulting in a dramatic sell-off in digital coins that yanked Bitcoin (BTC-USD) below $34,000. While the token recouped some of those losses, most analysts think there’s more downside left to probe, especially with crypto’s growing correlation with other risk-on assets. Like stocks, Bitcoin’s… Source link

The Biden administration is preparing to release a government-wide strategy to regulate cryptocurrencies as early as February, with the market in the over the Federal Reserve’s fight against inflation. According to an administration official, the forthcoming National Security Council (NSC) memorandum will task federal agencies to assess the risks and opportunities that crypto poses, and delve into the details of a central bank digital currency. The move will also review the impact of… Source link

Cryptocurrency popularity has boomed in recent years, and celebrities have gotten in on the fanfare. But as criminal activity in the space soars, so has the likelihood that influencer endorsements could lure investors into costly digital-asset scams. Kim Kardashian, Floyd Mayweather, and former NBA star Paul Pierce are among recent celebrities in the hot seat for their crypto promotions, accused in a lawsuit filed earlier this month in California of using their fame to “pump” a… Source link

Bitcoin (BTC-USD) plunged by over 10% to below $40,000 on Friday, with the rest of the cryptocurrency market following suit as risk aversion created a downdraft for markets, ahead of the Federal Reserve’s widely telegraphed plans to raise interest rates. With Russia’s move to ban crypto assets lighting the fuse of the latest plunge, Bitcoin’s price moves have become closely linked to technology shares, which have slumped on rate hike fears. On Friday, the Nasdaq tumbled deeper into… Source link

By releasing a vague blueprint of pros and cons on Thursday, the Federal Reserve has taken the first step towards potentially pursuing a digital dollar. The hard part will involve the Fed sorting through how to design a central bank digital coin (CBDC) in a way that meets approval of Congress and the White House, while smoothly transitioning into the payment and banking systems without disruption. The Fed insists it won’t move forward without the “clear support” of both the executive and… Source link

Did you know that Tampa Bay Buccaneers quarterback Tom Brady co-founded an NFT agency? Well he did! It’s called Autograph, and you won’t be surprised to find out that it’s doing pretty well.  The company told TechCrunch on Wednesday that it had just completed its Series B funding round and had raised $170 million from venture capital firms Andreessen Horowitz and Kleiner Perkins, among several others. Both firms have been investing in cryptocurrency related projects and Autograph is the… Source link

Securities and Exchange Commission (SEC) Chairman Gary Gensler said on Wednesday hopes this will be the year the . As lawmakers and the crypto industry’s major players , Washington’s regulatory agencies have been at the forefront of those discussions. A number of proposals are floating around Congress and the Executive branch, yet it’s unclear whether 2022 will see any of them get implemented. “You shouldn’t put timelines on yourself, but I will say I sure hope so,” Gensler told… Source link

We are less than a month into the New Year, but so far 2022 has not been kind to crypto. The price of bitcoin (BTC-USD), the granddaddy of digital currency, is off to its worst yearly start since the dawn of crypto, down roughly 40% from its all time high, and analysts are bracing for more volatility ahead. But true believers are not backing off. While it’s mostly young men who are trading cryptocurrency, research finds a growing number of women are taking the plunge and even prefer trading… Source link

Bitcoin (BTC-USD), the premiere digital currency first introduced in 2009, raised eyebrows this week when it dropped below $40,000 for the first time in three months, stoking fears of uncontrolled volatility. But by Wednesday, the coin’s price had risen back to $43,000 and many financial leaders are predicting Bitcoin to surpass $75,000 before the year ends. The quick recovery proved to many crypto enthusiasts that Bitcoin is here to stay. Now, some investors are highlighting Bitcoin for… Source link