The Securities and Exchange Commission on Wednesday reluctantly approved the first exchange-traded funds that hold bitcoin, saying it is still deeply skeptical about cryptocurrencies and that its decision did not mean it approves or endorses bitcoin.
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The cast of “Crypto 2023” starred figures that are now practically synonymous with fraud: Sam Bankman-Fried, Changpeng Zhao, Alex Mashinsky, and, less prominently, Heather “Razzlekhan” Morgan and Ilya Lichtenstein (aka ‘Bitcoin Bonnie and Clyde’). Despite all the bad press, the young industry notched some notable wins.
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Lolli, a Durham-based bitcoin rewards app company, announced an $8 million funding round today, and MrBeast is one of the investors.
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The price of bitcoin soared above $40,000 on Monday, hitting its highest level in 18 months as investors look ahead to a lower interest rate environment and key regulatory approvals that could make the crypto asset more mainstream.
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Bitcoin is rocketing higher, topping $35,000 for the first time since May 2022. It’s up 20% over the past five days. Here’s a look at the reasons why.
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Cryptocurrencies like Bitcoin and Ethereum have rebounded, a bit, after plunging during much of 2022. Is the so-called crypto winter over?
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This is not the first crypto winter, as long-term fans of bitcoin can attest. There were massive corrections in 2018, the early part of 2020 and the summer of 2021 as well.
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Bitcoin slumped to a two-year low and other digital assets sold off following the sudden collapse of crypto exchange FTX Trading, which has been forced to sell itself to larger rival Binance.
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After 13 years, at least three crashes, dozens of scams and Ponzi schemes and hundreds of billions of dollars made and evaporated, cryptocurrencies finally have the full attention of Congress, whose lawmakers and lobbyists have papered Capitol Hill with proposals on how to regulate the industry.
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