Forget crypto winter, this is a bitcoin ‘bloodbath’

Bitcoin trader Jad Fawaz says there’s no benefit in exerting further frustration and depression about a cryptocurrency crash, as he laughs about being “nearly bankrupt”. Key points: Bitcoin balances on crypto exchanges have fallen to around 2.3 million from a high of 3.1 million Overall, the cryptocurrency market capitalization has dropped $1.63 trillion in value … Read more

FTSE 100 Live: Vodafone boss to step down; Bitcoin price could plunge 70% in 2023, Standard Chartered warns

1670259695 That’s all folks. Tomorrow: SSP final results That concludes our liveblog coverage today, on the day Thames Water reported a first-half profit of almost £400 million, while Vodafone CEO Nick Read was given the boot, and the pound rallied to reach its highest level against the dollar in six months. The Evening Standard City … Read more

Tim Draper predicts bitcoin will reach $250,000 despite FTX collapse

Tim Draper, founder of Draper Associates, onstage at the Web Summit 2022 tech conference. Ben McShane | Sportsfile via Getty Images Venture capitalist Tim Draper thinks bitcoin will hit $250,000 a coin by the middle of 2023, even after a bruising year for the cryptocurrency marked by industry failures and sinking prices. Draper previously predicted … Read more

Crypto ‘smart’ money? Big traders fell for Sam Bankman-Fried

I was shocked when I first learned how a hot mess like Sam Bankman-Fried got away with convincing so many seemingly smart people — big money managers, venture capitalists and all those celebrity ambassadors — that he was such a boy genius of investing, they should turn over lots of money for him to play … Read more

Coinbase CEO Armstrong: ‘Baffling’ FTX’s Bankman-Fried not in custody

FTX founder Sam Bankman-Fried should be in custody by now, as far as Brian Armstrong is concerned. The Coinbase CEO said this week it’s “baffling to me why he’s not in custody already.” “The DOJ or somebody should be able to make—just based on his public statements, I think there’s a very open and shut … Read more

European Central Bank says bitcoin is on the ‘road to irrelevance’

The bitcoin logo displayed on a smartphone with euro banknotes in the background. Andrea Ronchini | NurPhoto via Getty Images The European Central Bank gave a strong critique of bitcoin on Wednesday, saying the cryptocurrency is on a “road to irrelevance.” In a blog post titled “Bitcoin’s last stand,” ECB Director General Ulrich Bindseil and … Read more

Bitcoin climbs to $16,450 as several analysts warn about a potential 40% pullback

Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here! (Kitco News) – The cryptocurrency market welcomed the sight of green across the board on Tuesday as concerns related to unrest in China … Read more

As BlockFi files for bankruptcy, what to know about crypto protections

The BlockFi website on Nov. 17, 2022. Gabby Jones/Bloomberg via Getty Images Crypto firm BlockFi filed for bankruptcy Mondaythe latest cryptocurrency domino to fall after the collapse of FTX two weeks ago threatened to destabilize companies in the broader crypto ecosystem. BlockFi offers a cryptocurrency trading exchange and interest-bearing custodial service for cryptocurrencies. The distressed … Read more

FTX Collapse: Billionaire Mark Cuban Gives Crypto a Dream Boost

The abrupt and rapid collapse of the FTX cryptocurrency exchange has caused a shock in the crypto space. The fall, in a few days, of a company valued at $32 billion in February, ended up casting suspicion on the entire young industry of financial services, based on the Blockchain technology. Confidence in the industry is … Read more

SEC chair Gary Gensler to unveil big changes amid FTX scandal

You would think that with the FTX scandal still brewing and investors missing billions of dollars from their supposedly secured crypto accounts, Securities and Exchange Commission chair Gary Gensler would have so much on his plate, he wouldn’t have time to muck around in our capital markets, which are working just fine. But sources tell … Read more