It’s easy to watch crypto’s day to day volatility, as well as fringe projects like Terra and Luna enter a “death spiral,” and dismiss the blockchain technology and philosophy underpinning them. But the crypto faithful say that despite its problems, crypto isn’t going away.
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The hits just keep coming for the cryptocurrency market following last week’s collapse of TerraUSD. The stablecoin, created to maintain its value equal to the U.S. dollar, today is worth an estimated 11 cents – a drop in market value from nearly $19 billion to roughly $1.3 billion. How could this have happened, and what could it – along with the wider market selloff – mean for the future of crypto? We invite you to join us at 11 a.m. ET this Friday, May 20, for a discussion with key experts.
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The plunge in Coinbase’s stock coincides with the massive drop in the value of bitcoin, ethereum and other cryptocurrencies over the past few months. Coinbase said in its earnings report that about 48% of its transaction revenue came from bitcoin and ethereum in the quarter.
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The world’s most valuable cryptocurrency was down 5% Monday after plunging again over the weekend. Bitcoin prices have now plummeted nearly 15% in the past week. At a price of just above $32,000, bitcoin is more than 50% below its record high of near $69,000 from late last year and at its lowest point since July 2021.
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The Securities and Exchange Commission is vastly expanding its fight against cryptocurrency fraud by hiring more than a dozen new employees to combat cybercrime, the agency said earlier this week.
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Fidelity Investments announced earlier this week that it will offer bitcoin as an investment option in its 401(k) plans by the middle of this year. Here’s how this will work.
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Treasury Secretary Janet Yellen says more government regulation is needed to police the proliferation of cryptocurrency and ward off fraudulent or illicit transactions.
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Dozens of companies are using the Bitcoin 2022 conference running Wednesday through Friday as a venue to network, pitch ideas and share announcements to the industry and beyond. Here’s a look at what’s happening.
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Federal Reserve Chair Jerome Powell said new forms of digital money such as cryptocurrencies and stablecoins present risks to the U.S. financial system and will require new rules to protect consumers.
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