“‘I think the worst part is probably over. We’ve seen a pretty sharp drop.’” That’s Changpeng Zhao, CEO of cryptocurrency exchange Binance, discussing the recent skid in crypto prices, which some are labeling a full-scale crash. Zhao’s comments were documented by Coindesk crypto writer Sandali Handagama. The event had not...
It started a cryptocurrency investing opportunity that slid into George Kissi’s direct messages in late April. It’s ending with a bitcoin loss of almost $20,000 that the self-declared “risk taker” from Dublin, Ohio calls “a total scam.” “I don’t know why I fell for that, other than greed,” Kissi, 49,...
Jesse Powell, co-founder and chief executive at crypto exchange Kraken, has responded to a recent New York Times article that said he started a “culture war” within the company as he questioned the use of preferred pronouns, debated who could use racial slurs and called American women “brainwashed.” The controversy...
Signature Bank shares have now lost nearly half their value in 2022 as its exposure to free-falling cryptocurrencies continues to weigh on the S&P 500 component. Signature Bank SBNY, +2.91% joined the S&P 500 in December and has fallen as much as 48% this year through Thursday, compared with a...
The S&P 500 index plunged 23.6% from its closing high on Jan. 4 through June 16. The damage have been broad — on June 16, 97% of stocks in the benchmark index were down, with more than a third dropping at least 5%. A bear market is no fun to...
