Bitcoin rose 7.93 percent to $31,780.51 at 2200 GMT on Monday, up $2,334.8 from its previous close. The world’s biggest and best-known cryptocurrency is up 25.1 percent from the year’s low of $25,401.05 on May 12. Ether, the coin linked to the ethereum blockchain network, rose 9.8 percent to $1,989.38 on Monday, adding $177.54 to…
Euro’s Losses Deepen After Inflation Data
LONDON—The euro’s losses deepened on Tuesday after data showing eurozone inflation hit a record high in May, but expectations the European Central Bank will soon hike rates kept the single currency on track for its best monthly performance in a year. Rising inflation is usually considered a precursor to tighter monetary policy. The ECB is…
Dollar Resumes Slide as Stock Markets Tentatively Pick Up
LONDON—The U.S. dollar resumed its backward slide on Monday as risk appetite across markets tentatively strengthened, supported by more encouraging economic data and bets that the Federal Reserve will tighten policy at a slower pace. The dollar index—which tracks the greenback against six major rivals—is on track for its first monthly drop in five, as…
Rep. Madison Cawthorn Under Scrutiny For Suspicious Crypto Trading Activity
May 29, 2022
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Business & EconomycryptocurrencyCryptocurrency ScamsLet's Go BrandonMarketsPoliticsRep. Madison CawthornRepublicansUS
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Representative Madison Cawthorn (R-N.C.) revealed in a filing on Friday that he had sold more than $250,000 worth of “Let’s Go Brandon” (LGB) meme cryptocurrency on Dec. 31, 2021, the day the value of the digital coin peaked before it lost much of its value. At a party on Dec. 29, 2021, Cawthorn posed with…
Russia Mulls Allowing Cryptocurrency for International Payments: Ifax
May 27, 2022
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Russia is considering allowing cryptocurrency to be used for international payments, Interfax news agency quoted a government official as saying on Friday. “The idea of using digital currencies in transactions for international settlements is being actively discussed,” Ivan Chebeskov, head of the finance ministry’s financial policy department, was quoted as saying. Russian officials are wrestling…
Dollar Drifts Up but Set for Biggest Weekly Drop in 4 Months
LONDON—The dollar edged higher on Friday but was on track for its biggest weekly drop in nearly four months as traders lowered Federal Reserve rate hike expectations amid signs the U.S. central bank might slow or even pause its tightening cycle in the second half of the year. A broad-based decline in U.S. Treasury yields,…
Stripe Resumes Crypto Push Drawing Inspiration From Block, PayPal
Payments company Stripe Inc. looks to give customers access to Bitcoin four years after suspending support for the cryptocurrency, Bloomberg reports. Stripe collaborated with crypto startup OpenNode to help its customers to accept Bitcoin payments through a new app. Stripe customers will be able to convert incoming payments and any amount of their balance into Bitcoin via the…
Cryptocurrency Vs Gold, Which Investment Is Better?
Investors have turned to both gold and cryptocurrency as alternative investments meant to keep their money safe. But how does crypto compare to gold? What are the advantages and disadvantages of these currencies, and should an investor consider one over the other? The Many Types of Crypto First, let’s establish that there are many different…
Dollar Edges Back Towards One-Month Low
LONDON—The U.S. dollar edged back towards a one-month low on Thursday, as minutes from the Federal Reserve’s May meeting contained few surprises, with most participants favoring additional 50 basis point rate hikes at the June and July meetings. The dollar index, which measures the currency against six major peers, was down 0.2 percent at 101.83…
‘Pay More Attention’ Ethereum Co-Founder Says of Crypto Crash
DAVOS, Switzerland—Ethereum’s co-founder Gavin Wood said cryptocurrency investors need to be more aware of what is backing their holdings after a market rout which wiped more than $800 billion off their value. “I would hope that people pay more attention to what is belying the currency name when they get involved in a community, ecosystem,…
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