Bitcoin

Text size Dreamstime The world’s largest cryptocurrency exchange, Binance Holdings, is under investigation by federal authorities for money laundering and tax evasion, according to a report in Bloomberg.  The news is sending another shock wave through the crypto market. Prices for Bitcoin (BTC) and other cryptos were already reeling from a… Source link

It’s Elon Musk’s crypto world. A bearish tweet from the entrepreneur on bitcoin and Tesla reneging on using it as a payment method sent crypto markets dropping. Bitcoin (BTC) trading around $48,769 as of 21:00 UTC (4 p.m. ET). Losing 10% over the previous 24 hours. Bitcoin’s 24-hour range: $47,720-$54,781 (CoinDesk 20) Ether (ETH) trading around $3,651 as of 21:00 UTC (4 p.m. ET). Dropping 10% over the previous 24 hours. Ether’s 24-hour range: $3,595-$4,243 (CoinDesk 20) Bitcoin fails to… Source link

Is an new crypto winter upon us? It’s impossible to know for sure but digital assets were in the midst of a significant decline on Thursday that was taking most prices back down to their lowest levels in months, and it wasn’t just comments from crypto bull Elon Musk sparking a bearish tone in the sector. Bitcoin prices BTCUSD, +2.00% are down more than 20% over the past two days, which would mark its steepest two-day slide since March 13, 2020,… Source link

The textbooks say that the securities markets exist to facilitate raising capital so that companies can thrive. In today’s investment world, that notion seems almost quaint. Business news pages and cable shows are dominated by fads — be it bitcoin, dogecoin or nonfungible tokens (NFTs) — and stocks whose prices are not tied to sober reflections about their issuers’ prospects but rocket up and down based on internet-fueled speculation. Looking back at this period in a… Source link

Topline As the broader cryptocurrency market plunges after billionaire Elon Musk said Tesla would no longer accept bitcoin because of its hefty environmental cost, the price of Cardano’s ada, the world’s fourth most valuable token, surged, as crypto traders and analysts plow into the token that promises it’s a much less carbon-intensive alternative. Cardano’s ada, the world’s fourth-largest cryptocurrency, is the most valuable token that analysts … [+] are homing in on after… Source link

Novogratz is bullish. Photo: Getty Images for Friends of Hudson River Park Mike Novogratz, once a partner at Goldman Sachs who went on to be a hedge fund manager at Fortress Investment Group, has found his biggest financial success in cryptocurrency. Now the billionaire founder and CEO of Galaxy Digital, Novogratz is building his own crypto-focused… Source link

Updated May 13, 2021 9:10 am ET Here’s what we’re watching ahead of Thursday’s opening bell. U.S. stock futures edged up, pointing to a muted recovery on Wall Street after worries about inflation pushed the S&P 500 to its biggest three-day loss since October. Futures tied to the broad stocks gauge were up 0.2%. Contracts linked to the Dow Jones Industrial… Source link

Technical analysts weigh in on where bitcoin prices will head next. (Photo Illustration by Thiago … [+] Prudêncio/SOPA Images/LightRocket via Getty Images) SOPA Images/LightRocket via Getty Images Bitcoin prices experienced some notable volatility today, dropping below $50,000 following a highly visible tweet from Elon Musk and then recovering. The digital currency plunged more than 15% between roughly 6 and 8 p.m. EDT, reaching $46,294.72, according to CoinDesk data. … Source link

Just weeks after Tesla started accepting Bitcoin as currency for cars, Elon Musk revealed in a tweet that it will “suspend” the effort. According to the release (Tesla does not appear to have a functioning press office), the company is “concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions.”  A study last year estimated bitcoin mining used 7.46 GW of electricity on average, and the same study puts the number right now at 16.71 GW. That would represent… Source link

Text size Dreamstime An SEC staff statement on Bitcoin and mutual funds is making some analysts think that the agency is leaning against approving a Bitcoin exchange-traded fund in the near-term, potentially dashing the industry’s hopes that this is the year an ETF is approved. At least six Bitcoin ETF applications have been submitted to… Source link