Cryptocurrency Bitcoin tumbled below the $24,000 level on Monday trading, following dismal U.S. inflation data. Meanwhile, crypto lender Celsius Network froze transfers and withdrawals. Bitcoin was trading at $23,971 as of June 13, 8:51 a.m. EDT, down over 9.8 percent from its opening at around $26,600—its lowest level in around 18 months. The digital currency is…
S&P 500 Falls Back Into Bear Market as Wall Street Opens Down
June 13, 2022
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Wall Street’s main indexes opened sharply lower on Monday amid a broader risk-off sentiment that also saw cryptocurrencies take a beating, while the benchmark S&P 500 fell into a bear market intraday as a higher-than-expected inflation print last week raised bets the Fed would tighten faster and further to quell price pressures. Shortly after opening…
World Stocks Near Fresh 2022 Lows on Inflation Fears
LONDON—World stocks fell towards fresh 2022 lows and the Japanese yen slid to levels not seen in nearly a quarter of a century on Monday as red-hot U.S. inflation fuelled worries about even more aggressive policy tightening in a big week for central banks. The substantially higher-than-expected U.S. CPI print on Friday was hard to…
Yen Tumbles Against Euro as Central Bank Policy Diverges
LONDON—The euro hit a seven-year peak against the yen on Wednesday, getting a lift after an upward revision to first-quarter growth and ahead of a European Central Bank meeting on Thursday that is likely to pave the way for rate hikes later in the year. The ECB is set to end its bond purchases this…
Bipartisan Crypto Bill Proposes Sweeping Oversight of Digital Assets
June 7, 2022
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Two senators—a Democrat and a Republican—will on Tuesday officially unveil a sweeping legislative proposal to regulate cryptocurrencies and other digital assets. “As a former state treasurer, I am excited by the possibilities of incorporating digital assets into the American financial system. The legislation that @SenGillibrand and I are proposing will do just that,” Sen. Cynthia…
Binance CEO on $1.6 Billion Loss in Terra Investments; Why He Never Spoke to Do Kwon
CEO of Binance Changpeng Zhao says that his company initially invested $3 million in the much-hyped Terra project in 2018. In return, Binance received around 50 million LUNA. But in a recent Twitter post, he indicated that Binance ultimately lost $1.6 billion in its Terra investment. CZ: We invested in Terra as a part of a Binance Labs investment…
Johnny Depp Ethereum NFT Sales Soar as He Triumphs Against Amber Heard in Defamation Trial
Johnny Depp’s collection of Ethereum based NFTs saw a sharp surge in interest following the conclusion of the defamation trial against his ex-wife Amber Heard. What Happened Depp’s collection titled “Never Fear Truth” had a total trading volume of 1,500 ETH since its launch. After the jury reached its final verdict, awarding Depp $10 million in compensatory damages…
Consumers Lost at Least $1 Billion in Cryptocurrency Scams in Early 2021, Says FTC
June 3, 2022
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More than 46,000 American consumers have officially reported a total loss of $1 billion in cryptocurrency to fraud from January 2021 through March 2022, according to a new June 3 report from the Federal Trade Commission. The FTC reported that the data is based on fraud reports made directly to the agency, which means that…
New York Passes Bill Halting New Bitcoin Mining Projects
June 3, 2022
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The New York State Senate passed a bill early Friday that seeks to ban new cryptocurrency mining projects in a bid to tackle some of the environmental issues associated with the use of proof-of-work authentication methods to validate blockchain transactions, such as bitcoin. The bill, which still needs Gov. Kathy Hochul’s signature to become law,…
Dollar Edges up Against Euro, Hits Two-Week High Versus Yen
LONDON—The euro edged further away from a one-month high on Wednesday and the U.S. dollar nudged up, lifted by higher Treasury yields as global inflation worries flared anew. The dollar index, which measures the currency against six major peers, including the euro, rose 0.2 percent to 101.96, extending Tuesday’s gains, when data showed eurozone consumer…
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