Tag Archives: Currency markets

Bitcoin slumps 7%, reversing gains, after inflation report disappoints

Representations of cryptocurrency Bitcoin are seen in this illustration, August 10, 2022. REUTERS/Dado Ruvic/Illustration Dado Ruvic | Reuters Bitcoin fell Tuesday, following stocks lower after the August consumer price index report came in higher than expected. The cryptocurrency shed 7.31% to $20,804.00 at 12:45 p.m. ET. The declining price is …

Read More »

Bitcoin (BTC) on track for its worst quarter in more than a decade

Bitcoin is on track to post its worst quarterly loss in more than a decade. The world’s largest cryptocurrency has lost around 58% of its value in the second quarter of 2022, according to data from CryptoCompare. Bitcoin has fallen from $45,524 at the start of the quarter and was …

Read More »

Crypto is not replacing the U.S. dollar, Bitfury CEO Brian Brooks says

Crypto prices should be viewed more like internet stocks than currency, said Brian Brooks, the former U.S. Acting Comptroller of the Currency during the Trump Administration. The biggest misunderstanding around cryptocurrencies is that if they’re “not doing a great job of replacing the U.S. dollar, then crypto is failing in …

Read More »

Three Arrows Capital (3AC) faces deadline to repay loans or default

Billions of dollars of value have been wiped off the cryptocurrency market in the last few weeks. Companies in the industry are feeling the pain. Lending and trading firms are facing a liquidity crisis and many firms have announced layoffs. Yu Chun Christopher Wong | S3studio | Getty Images Three …

Read More »

Bitcoin (BTC) price falls below $27,000 as crypto sell-off intensifies

Bitcoin plunged further below the $30,000 mark as investors fled cryptocurrencies. Jaap Arriens | NurPhoto | Getty Images Bitcoin slumped below $27,000 Thursday for the first time in over 16 months, as cryptocurrency markets extended their losses amid fears over rising inflation and the collapse of a controversial stablecoin project. …

Read More »

Tether to reduce commercial paper holdings in USDT reserves

PARIS — Crypto firm Tether is planning to reduce its holdings of commercial debt in its reserves, as the issuer of the world’s most-used “stablecoin” continues to face questions about what its digital currency is actually backed by. Last year, Tether revealed that it held some cash but also bought …

Read More »

NFT marketplace OpenSea is investigating a phishing hack

A smartphone and a screen show the website OpenSea, where digital artworks are sold using NFT. NFTs, non-fungible tokens, are unique cryptographic credentials that are written to the blockchain attached to a file (image, music, video). picture alliance | picture alliance | Getty Images NFT marketplace OpenSea is investigating a …

Read More »