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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

The cryptosphere is on fire! This week dozens of coins have hit all-time highs (ATHs). And with big industry players like Square and PayPal getting on board with cryptocurrencies, alongside interest and adoption by banks like JPMorgan Chase, Goldman Sachs, and Citigroup, crypto’s winning streak appears to be set to continue. There are a few reasons why this past year, specifically, there has been such an influx of cash into the crypto industry: The pandemic The recession The hype The investment… Source link

A crypto farm in Cluj-Napoca, Romania, last year. Photo: Akos Stiller/Bloomberg News We have all found money in the couch. Now people are mistaking a couch for money. Ethan Allen Interiors, ETH 2.91% a furniture company that definitely… 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

Shutterstock Dogecoin and other cryptocurrencies sank on Thursday after Elon Musk suspended bitcoin payments for Tesla cars. The meme-inspired digital asset tumbled 20% to trade around 40 cents. Litecoin fell 14%, while Ripple’s XRP and Ethereum’s ether lost 11% – having each dropped more than 20% from their peaks. Bitcoin dropped as much as 15% on Thursday, prompting a knock-on effect for other digital currencies, as the entire crypto market value wiped off as much as $365 billion at… Source link