A cryptocurrency crash could have repurcussions well beyond crypto itself. Contagion could spread to the fixed-income market, and then to other financial markets as well. That’s the investment implication of a new study out of Yale University that began circulating in academic circles earlier this month. Entitled “How the cryptocurrency...
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Leal Brainard, vice chairwoman at the Federal Reserve, has been the central bank’s most vocal proponent for experimenting with government-issued digital money as cryptocurrencies like bitcoin BTCUSD, -0.74% and ether ETHUSD, -3.94% have exploded in popularity and as use of Federal Reserve paper money has declined in recent years. On...
The crypto market is in mayhem this year, consistent with other risk assets, as investors are concerned about soaring inflation, signs of a softening economy and the Federal Reserve’s tightening of its monetary policy. Bitcoin BTCUSD, -0.31% is down more than 55% from its all-time high in November and continues...
The once-sizzling market for NFTs has become a spectacular bust, as high-profile auctions increasingly flop and investors who plunked down millions for bizarre digital artworks now struggle to unload them at a tiny fraction of what they paid. Last spring, the little-known crypto artist Beeple sold an NFT for an...
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The global cryptocurrency market lost over $300 billion last week and about $1.7 trillion in the past seven months. But the impact on U.S. household wealth, spending and the labor supply are likely to be limited, according to Goldman Sachs. The crypto market capitalization has plunged to around $1.3 trillion...
At the start of 2022, Neel Somani was a quantitative research analyst working at Citadel, billionaire Ken Griffin’s powerhouse hedge-fund firm, which manages about $47 billion. But at age 24, Somani quit in late February with dreams of getting rich in crypto and helping to build a more decentralized financial...
The collapse of the stablecoin TerraUSD USTUSD, +3.54% has made waves in Washington, attracting the attention of the nation’s top policymakers and adding urgency to an ongoing debate in Congress about cryptocurrency regulation. At its peak in early May, TerraUSD, also known by its ticker UST, was the third most...
Bitcoin was created in 2009, not 2019 as a previous version of this article stated. The error has been corrected. Stablecoin USDTerra, or UST USTUSD, +13.03%, once among the top 10 largest cryptocurrency by market cap, lost its 1 to 1 peg against the U.S. dollar, falling to as low...
