On Wednesday night Tesla reported in its second-quarter earnings that it sold 75% of its bitcoin holdings for $936 million. The company said it was to maximize its cash position amid Covid-related uncertainty in China. But the move comes about 18 months after the company shocked the financial markets by buying $1.5 billion worth of … Read more
Investing in cryptocurrencies is clearly not for the faint of heart. The value of bitcoin has plunged from its high last fall, and others have followed similarly gut-wrenching paths. But that does not mean that the revolutionary technology behind them, which allows for innovations such as smart contracts and instant peer-to-peer payments, is not here … Read more
Cryptocurrencies have taken a tumble in 2022. Chesnot | Getty Images An improvement in macroeconomic factors, a particular trading pattern and a further shakeout of companies and projects could be the key ingredients required for bitcoin and the broader crypto market to bottom, industry players told CNBC. Bitcoin has plummeted more than 70% from its … Read more
There’s something about the latest crypto crash that makes it different from previous downturns. Artur Widak Nurphoto | Getty Images The two words on every crypto investor’s lips right now are undoubtedly “crypto winter.” Cryptocurrencies have suffered a brutal comedown this year, losing $ 2 trillion in value since the height of a massive rally … Read more
What I am looking at July 6, 2022 Was Micron (MU) the first time we saw a stock rally after a forecast cut and was that because it sold at only 5 times earnings? If rates falling are a sign of a recession why is the most sensitive section to recession, the homebuilders, climbing? Or … Read more
Bitcoin is a volatile asset, and has been known to swing more than 10% higher or lower in a single day. Jakub Porzycki | Nurphoto | Getty Images EU officials on Thursday secured an agreement on what is likely to be the first major regulatory framework for the cryptocurrency industry. The European Commission, EU lawmakers … Read more
Bitcoin rallied to a record high of nearly $ 69,000 at the height of the 2021 crypto frenzy. In 2022, it’s moved in the opposite direction. Nurphoto | Getty Images Prominent crypto hedge fund Three Arrows Capital has defaulted on a loan worth more than $ 670 million. Digital asset brokerage Voyager Digital issued a … Read more
Billions of dollars of value have been wiped off the cryptocurrency market in the last few weeks. Companies in the industry are feeling the pain. Lending and trading firms are facing a liquidity crisis and many firms have announced layoffs. Yu Chun Christopher Wong | S3studio | Getty Images Three Arrows Capital, a crypto-focused hedge … Read more
Here are the most important news, trends and analysis that investors need to start their trading day: 1. Wall Street set to bounce after S&P 500’s worst seek since 2020 The sign for Wall Street is seen with US flags outside the New York Stock Exchange. Yuki Iwamura | Afp | Getty Images Dow futures … Read more
Ether is the second-largest cryptocurrency in the world by market value. Jaap Arriens | OnlyPhoto via Getty Images Another controversial cryptocurrency is causing havoc in the digital asset market – and this time, it’s not a stablecoin. Staked ether, or stETH, is a token that’s supposed to be worth the same as ether. But for … Read more
