On Thursday, the chair of an international financial watchdog said that he expects there will be a global cryptocurrency regulatory body within the next year. In light of recent panicked freefall of multiple “stable” coins, we probably need one. “I would not expect that to be the same time next year. I think that [lack […]
US stock futures were pointing to a higher start for Wall Street at the end of a volatile week, after Federal Reserve Chairman Jerome Powell cooled speculation about the potential for 75-basis point rate hikes. How are stock-index futures trading? S&P 500 futures ES00, +1.20% rose 1.1% to 3,971 Dow Jones Industrial Average futures YM00, […]
WASHINGTON (AP) — Treasury Secretary Janet Yellen, responding to the recent sharp decline in the value of cryptocurrencies, said Thursday that additional federal regulation was needed to respond to the wave of speculative investment in the currency whose secrecy is an essential part of its appeal . “We really need a regulatory framework to guard […]
Remember when Matt Damon told you, “Fortune favors the brave”? Well, Twitter TWTR, -2.19% users do, and many of them are bringing up the viral Crypto.com ad, while prices for cryptocurrency like bitcoin BTCUSD, +1.26% and ether ETHUSD, -4.69% are slumping, and crypto exchange platforms like Coinbase COIN, +8.90% are losing billions in market cap. […]
Crypto investors panicked on Thursday as bitcoin plummeted to its lowest price in more than a year and other cryptocurrencies endured even worse sell-offs. Victims of the bloodbath — which comes amid a broader stock market route — range from the billionaire crypto titans who run leading marketplaces such as Coinbase and Binance to lowly […]
Textsize If the losses hold, the Dow would fall for the sixth day in a row. Ed Jones/AFP via Getty Images The stock market was falling again Thursday, as investors were fretting about the impact of inflation and the Federal Reserve’s monetary policy on the economy. In afternoon trading, the Dow Jones Industrial Average retreated […]
Treasury Secretary Janet Yellen said Thursday that the turbulence in the cryptocurrency market is not a hazard for the stability of the US financial system. Yellen noted that TerraUSD USTUSD, -50.71% had decoupled from its $1 peg in recent days and the world’s largest stablecoin, tether, was briefly under similar pressure. Other companies in the […]
Bitcoin plunged and the world’s largest stablecoin, tether, briefly edged down from its $1 peg, adding to fears of more turbulence in the cryptocurrency market. Cryptocurrencies have been hit by two forces this week. On one side, concerns that inflation will necessitate aggressive central-bank tightening have sapped the desire to hold assets perceived as higher […]
A bitcoin sign is seen on a Coinstar ATM during the Bitcoin 2022 Conference at Miami Beach Convention Center on April 8, 2022 in Miami, Florida. photo: beautiful frame (Getty Images) The cryptocurrency market continued to hemorrhage money Thursday, with the most popular coins down double-digit percentages over the past 24 hours. And absolutely no […]
US stock futures declined, pointing to a second day of turbulence in markets driven by stronger-than-expected US inflation. Futures tied to the S&P 500 fell 0.6% after the broad-market index closed down 1.7% on Wednesday. Nasdaq-100 futures retreated 1%, suggesting more losses for technology stocks after the opening bell. Stocks are coming under pressure due […]