“‘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...
Crypto platform Voyager Digital Ltd. VOYG, -58.13% shares plunged more than 60% Wednesday after the company said its subsidiary Voyager Digital LLC, may issue a notice of default to embattled crypto hedge fund Three Arrows Capital for failure to repay its loan. Voyager’s exposure to Three Arrows includes 15,250 bitcoin,...
Ben Bernanke, former chairman of the Federal Reserve, has been a vocal skeptic on bitcoin BTCUSD, -1.49%. He’s stated that the cryptocurrency has no underlying value and cannot act as a store of value, which renders it not credible as a currency. “If bitcoin were a substitute for fiat money,...
International stocks broadly rose in the absence of fresh news about inflation and interest rates, while U.S. markets were closed for the Juneteenth public holiday. Stocks and bonds have been pummeled globally this year. Driving the selloff are the push by the Federal Reserve and other central banks to quell...
The price of bitcoin fell below $18,000 Saturday before rebounding Sunday evening above $20,000, a level widely monitored by cryptocurrency enthusiasts. Bitcoin rose 10% to $20,571.29 Sunday evening after falling to as low as $17,601.58 Saturday afternoon, according to CoinDesk. The digital currency lurched below $20,000 Saturday, sparking fears it...
SAN SALVADOR, El Salvador — El Salvador’s bitcoin-boosting president has asked people to be patient after the price of the cryptocurrency fell below $20,000 — less than half the price the government paid. According to the tracking site nayibtracker.com, El Salvador under President Nayib Bukele’s administration has spent about $105...
The price of bitcoin lurched below $20,000, and below a level widely monitored by cryptocurrency enthusiasts, as a brutal selloff in crypto showed no signs of abating. “Bitcoin breaking the $20,000 price level was long coming, given the pessimism that we have in the market,” said AvaTrade market analyst Naeem...
With investors worldwide looking at a $1.5 trillion in recent cryptocurrency losses, a blizzard of class-action lawsuits are being prepared. One big question is: who, if anyone, is to blame ? See: Bitcoin slumps below $20,000 as cryptocurrency rout rolls on US federal regulators say 46,000 people have reported losing $1bn...
The cryptocurrency market’s latest swoon is giving investors a painful lesson about the risks of trading digital tokens through intermediaries. In a bankruptcy restructuring, crypto investors would be navigating uncharted territory. “What can safely be predicted is that there will be litigation, and there will be delay,” said Adam Levitin,...
WASHINGTON—Securities and Exchange Commission Chairman Gary Gensler said Wednesday he worries that more investors will be harmed in cryptocurrency markets, after this month’s implosion of the stablecoin known as TerraUSD. “I think a lot of these tokens will fail,” Mr. Gensler told reporters after a House Appropriations Committee panel hearing...
