Multiple crypto firms have announced plans to cut jobs as the digital currency market continues to decline, with its total value falling below $1 trillion on June 13. BlockFi announced a reduction in its headcount by around 20 percent. CEO Zack Prince said in a June 13 tweet, “This is not a decision we take…
Crypto Firms Cutting Jobs as Market Declines Below $1 Trillion
June 14, 2022
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Bitcoin Stems Heavy Losses but Pessimism Reigns in Crypto Markets
LONDON—Bitcoin steadied on Tuesday after earlier hitting a new 18-month low, as major crypto lender Celsius Network’s freezing of withdrawals and the prospect of sharp U.S. interest rate rises shook the volatile asset class. Bitcoin clawed its way to positive territory after falling as much as 7.3 percent to $20,816, its lowest since Dec. 2020….
Largest US Pork Processor Leaving Calif.; Bitcoin Falls, Crypto Mkt Value Under $1T | NTD Business
The largest pork processor in the United States is abandoning California. It says it’s not worth doing business there anymore because of taxes and inflation. Luxury home sales see the biggest drop since 2020. Why? And what could it mean for some buyers? McDonald’s restaurants reopen in Russia, under a new name and Russian ownership….
Bitcoin Falls to 18-Month Low as US Inflation Spikes to Record High
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…
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…
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,…
Bitcoin Surges Nearly 8 Percent to $31,780
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…
Bill Gates on Why He Doesn’t Own Any Cryptocurrency
Microsoft Corporation founder Bill Gates has said he doesn’t own any cryptocurrency because he prefers to invest in things that have “valuable output.” What Happened Over the weekend, Gates responded to a number of questions from users across the world on a Reddit “ask me anything” thread. In response to one particular question about his thoughts…
Lagarde Calls for Crypto Crackdown, Says They’re ‘Based on Nothing’
May 21, 2022
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European Central Bank President Christine Lagarde has taken aim at cryptocurrencies, arguing in an interview on Dutch television that they’re essentially “worth nothing” as they lack underlying assets “as an anchor to safety” while calling for them to be regulated. Lagarde made the remarks in an interview on the Dutch television program “College Tour,” due…
‘Rich Dad Poor Dad’ Author Warns of Economic Pain, Says Baby Boomers Will Be ‘Biggest Losers’
“Rich Dad, Poor Dad” and personal finance author Robert Kiyosaki says that the U.S. is facing a future of unprecedented economic pain. During a recent video interaction, Kiyosaki says rising inflation, shortfalls in social security, and healthcare funding are the key factors influencing the economy. This is going to hammer a massive number of baby…
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