Tag Archives: crypto

(Bloomberg) — The 2021 Bitcoin bubble is deflating and hitting a $1.3 trillion industry built on to-the-moon speculation and rampant leverage. The damage from the latest selloff is spreading across the world of crypto loans, options and futures — wiping out money-spinning strategies from the famous basis trade to yield farming. Even with Wednesday’s rebound, Bitcoin at around $31,700 is still trading near the lower end of its range over the past two months, and down about 50% from the April… Source link

Bitcoin cryptocurrency coins and a PC motherboard are pictured in Kyiv on 19 July, 2021. (Photo by STR/NurPhoto via Getty Images) Valuing a cryptocurrency is not nearly as simple as valuing a stock. A stock is a piece of a company, and you can look at what the company owns and its revenue, costs, profits, and trends to determine some sort of estimate of its worth. For crypto, it’s far more nebulous since coin values aren’t usually connected to revenues, profits, or any of the usual… Source link

(Bloomberg) — Bitcoin’s selloff accelerated Monday, pushing it closer to $30,000 once again. The world’s largest digital coin, down as much as 3.3% at one point during the session, continues to ebb closer to the pivotal round-number level, trading around $30,628 as of 9:41 a.m. in New York. Chartists are watching to see if it breaks below that support, which could exacerbate its decline and set it up for its lowest close since the start of the year. The retreat comes amid a broader… Source link

How do authorities dispose of confiscated cryptocurrency mining rigs? In a city in Sarawak, Malaysia, authorities got rid of 1,069 rigs at once by crushing them with a steamroller, Vice reports. According to Malaysian publication Dayak Daily, the PCs were confiscated over six raids conducted between February and April this year. Sarawak Energy Berhad, the electric utility company of the Malaysian province, is accusing the mining operators of stealing electricity for their activities. The… Source link

Associated Press Iraqi militia commander vows to avenge deaths in US strike The leader of an Iran-backed Iraqi militia has vowed to retaliate against America for the deaths of four of his men in a U.S. airstrike along the Iraq-Syria border last month, saying it will be a military operation everyone will talk about. Abu Alaa al-Walae, commander of Kataib Sayyid al-Shuhada, said in an exclusive interview with The Associated Press in Baghdad that the electoral victory of Iran’s hard-line… Source link

The New York Times A Fourth of July Symbol of Unity That May No Longer Unite SOUTHOLD, N.Y. — The American flag flies in paint on the side of Peter Treiber Jr.’s potato truck, a local landmark parked permanently on County Route 48, doing little more, he thought, than drawing attention to his family’s farm. Until he tried to sell his produce. At a local greenmarket where he sells things such as wild bergamot, honey and sunflowers, he had trouble striking a deal until, he said, he let his… Source link

Unlike crypto critics who attack bitcoin and other cryptocurrencies for being too volatile, the Federal Reserve is increasingly sounding the alarm over investigating the coins that set out to be far more boring: stablecoins. As their name suggests, stablecoins are cryptocurrencies that set out to remain stable over their lifetimes and try to maintain a value as close to $1 (or other base currencies) as possible. Tether, the largest stablecoin in the world with a market cap of more than $60… Source link

As Bitcoin and other digital coins rise in popularity, so have the number of gripes with the largest cryptocurrency exchange in the U.S., according to a new study. Coinbase was the most complained-about crypto digital wallet in the Consumer Finance Protection Bureau’s complaint database, according to a study done by the U.S. Public Interest Research Group, with the volume of filings — albeit starting at a low level — accelerating this year.  “Coinbase should be investigating consumer… Source link

Crypto currencies have been around long enough that we can’t really describe them as ‘the next big thing’ anymore – they’re here and they’re part of the financial landscape. For stock traders, the rise of crypto brings a unique opportunity – not only in crypto currencies themselves, but in the technology that supports them. The blockchain technology that makes crypto secure, and the digital mining operations that generate new units of crypto currency, require a strong foundation… Source link

SASCHA STEINBACH/EPA-EFE/Shutterstock / SASCHA STEINBACH/EPA-EFE/Shutterstock The latest behemoth to enter the crypto space amid steady institutional interest is Citigroup, which officially launched a new business unit dedicated to the cryptocurrency and blockchain space, according to a memo obtained by The Block. See: As Cryptos Crash, Twitter is Drowning in MemesFind: If You Invested $1,000 in These Cryptocurrencies a Year Ago, Here’s How Much You’d Have Now The new unit, the Digital… Source link