Tag Archives: crypto

The total market capitalization of cryptocurrencies rose above $1 trillion on Wednesday morning for the first time since November 8. This latest rally in crypto has been led by bitcoin (BTC-USD), which briefly spiked to as high as $21,501 as of 9:15 a.m. ET. Bitcoin is up more than 20% from where it traded just one week ago and has gained roughly 30% so far this year. Shortly after hitting his milestone, crypto prices dropped along with broader markets. Near 12:20 p.m. ET, bitcoin was trading… Source link

DAVOS, Switzerland — Economist Nouriel Roubini is ratcheting up his fiery commentary on the stricken cryptocurrency industry, particularly toward FTX and its now-disgraced founder, Sam Bankman-Fried, commonly known as SBF. “FTX and SBF are not an exception — they’re a rule,” the NYU professor, who is known as “Dr. Doom” for his dire perspectives on global trends, said on Yahoo Finance Live at the World Economic Forum in Davos, Switzerland, on Wednesday (video above). “Literally 99% of… Source link

DAVOS, Switzerland — Economist Nouriel Roubini is ratcheting up his fiery commentary on the stricken cryptocurrency industry, particularly toward FTX and its now-disgraced founder, Sam Bankman-Fried, commonly known as SBF. “FTX and SBF are not an exception — they’re a rule,” the NYU professor, who is known as “Dr. Doom” for his dire perspectives on global trends, said on Yahoo Finance Live at the World Economic Forum in Davos, Switzerland, on Wednesday (video above). “Literally 90% of… Source link

An NFT influencer claims to have lost “a life-changing amount” of their net worth in nonfungible tokens (NFTs) and crypto after accidentally downloading malicious software found in a Google Ad search result. The pseudo-anonymous influencer known on Twitter as “NFT God” posted a series of tweets on Jan. 14 describing how his “entire digital livelihood” came under attack including a compromise of his crypto wallet and multiple online accounts. Last night my entire digital livelihood… Source link

JPMorgan (JPM) Chief Executive Jamie Dimon minces no words when it comes to his views on cryptocurrencies. The Wall Street boss, who in September famously called the digital tokens “decentralized Ponzi schemes” at a regulatory hearing, again reiterated his criticism of crypto assets during an interview with Fox Business Network. “I called it a decentralized Ponzi scheme because people were just hyping it – hyping it, and hyping it – and they’ll write tons of books on this, the… Source link

Digital asset manager Osprey Funds has laid off 15 employees and is currently operating with fewer than 10 employees, including four members of its leadership team, a source familiar with the matter tells Yahoo Finance. “Osprey had layoffs last summer and fall aligned with the downturn in the crypto market, however Osprey remains strong,” Osprey Funds CEO Greg King told Yahoo Finance over email. Osprey’s Bitcoin Trust (OBTC), which is available at online brokers Fidelity, Charles Schwab, and… Source link

Crypto lender Genesis is cutting 30% of its staff in another round of layoffs, the company said Thursday. First reported by the Wall Street Journal, this latest round of job cuts comes two months after it froze customer withdrawals. Genesis is a crypto financial services company with trading, lending, market making, and custody businesses that is owned by Digital Currency Group (DCG). DCG also owns Grayscale, sponsor of the world’s largest bitcoin trust, GBTC, as well as crypto media outlet,… Source link

The Federal Reserve, FDIC, and the Office of the Comptroller of the Currency (OCC) issued a joint statement on Tuesday warning about “significant” risks crypto assets may pose to the broader banking system. “It is important that risks related to the crypto-asset sector that cannot be mitigated or controlled do not migrate to the banking system,” the agencies said in a joint statement. “Given the significant risks highlighted by recent failures of several large crypto-asset companies, the… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Thursday, December 22, 2022 Today’s newsletter is by Jared Blikre, a reporter focused on the markets on Yahoo Finance. Follow him on Twitter @SPYJared. Read this and more market news on the go with Yahoo Finance App. Crypto winter be damned — bitcoin and ethereum investors are still laser-focused on an industry in free-fall being rocked by… Source link

Mazars has found itself in the headlines again this year after confirming it’s pausing work for crypto clients, including Crypto.com, KuCoin, and Binance, the world’s largest crypto exchange. The news rocking the cryptocurrency world comes after the accounting firm in February backed away from another high-profile client — former President Donald Trump. On Friday, Mazars told Yahoo Finance that it “paused its activity relating to the provision of Proof of Reserves Reports for entities in… Source link