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

Bitcoin climbs to ,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

Ethereum is a ‘con’, will eventually ‘blow up’ like FTX as Bitcoin becomes primary global form of money

Ethereum is a ‘con’, will eventually ‘blow up’ like FTX as Bitcoin becomes primary global form of money

(Kitco News) – In the long-run, Bitcoin will become the world’s primary form of money, replacing the US dollar and other fiat currencies, and beating out altcoins, according to Cory Klippsten, CEO and Founder of Swan Bitcoin. “The very likely outcome is that Bitcoin continues to grow in size and market cap and price and … Read more

Saying no to cryptocurrency was a glorious moment for Canada’s investment advisers

Saying no to cryptocurrency was a glorious moment for Canada’s investment advisers

Making the right call in investing sometimes requires you to look excruciatingly wrong for a while. The investment advisers who declined to board the cryptocurrency hype train understand this well. Bitcoin and other cryptocurrencies took off in 2020 and didn’t peak until roughly 12 months ago. Anti-crypto advisers and money managers must have hated those … Read more

DCG’s Barry Silbert writes letter to investors after FTX collapse

DCG’s Barry Silbert writes letter to investors after FTX collapse

Barry Silbert, the founder of crypto conglomerate Digital Currency Group, has joined a growing list of industry leaders in trying to settle investors’ nerves after the sudden collapse of FTX. In a note to shareholders on Tuesday, Silbert addressed all the “noise” about the financial health of DCG’s subsidiaries, which includes trading firm Genesis, Grayscale … Read more

The US dollar must be backed by a ‘vital’ economy to maintain its dominance, says most cited scientist in Satoshi’s Whitepaper – W. Scott Stornetta

The US dollar must be backed by a ‘vital’ economy to maintain its dominance, says most cited scientist in Satoshi’s Whitepaper – W. Scott Stornetta

Over the year, the US dollar index (DXY) has risen by over 12 percent, due to high US interest rates and a perception that the US dollar is a safe haven asset. However, these factors in themselves are not enough to maintain US dollar hegemony, said W. Scott Stornetta, Partner at Yugen Partners and the … Read more

Grayscale won’t share proof of reserves due to ‘security concerns’

Grayscale won’t share proof of reserves due to ‘security concerns’

The SEC on Wednesday rejected Grayscale’s application for a spot bitcoin ETF, citing a failure by the investment manager to answer questions about concerns around market manipulation. Nurphoto | Nurphoto | Getty Images Grayscale, the asset manager running the world’s largest bitcoin fund, said in a statement that it won’t share its proof of reserves … Read more

Energy stocks are in a bubble — and here’s when they’re likely to crash

Energy stocks are in a bubble — and here’s when they’re likely to crash

Oil and gas stocks are likely in a market bubble that’s vulnerable to popping. That’s the conclusion when applying a formula from recent academic research into the predictability of stock market bubbles and subsequent crashes. The research, which appeared in the Journal of Financial Economics, was conducted by Robin Greenwood and Andrei Shleifer of Harvard … Read more

Unemployment to almost double, recession to end by 2024 – Alfonso Peccatiello

Unemployment to almost double, recession to end by 2024 – Alfonso Peccatiello

The US unemployment rate rose to 3.7 percent in October, and industry data suggests that such job trends will continue, with companies like Twitter, Amazon, and FedEx laying off thousands of workers. This will result in unemployment almost doubling to “six-and-a-half percent,” while the ensuing recession will last until 2024, said Alfonso Peccatiello, Author and … Read more

FTX users may be cashing of bankrupt crypto exchange through a Bahamas loophole

FTX users may be cashing of bankrupt crypto exchange through a Bahamas loophole

Sam Bankman-Fried, CEO of cryptocurrency exchange FTX, at the Bitcoin 2021 conference in Miami, Florida, on June 5, 2021. Eva Marie Uzcategui | Bloomberg | Getty Images Some FTX users appear to have found a way to move money off of the exchange through a back door in the Bahamas. Analysis by data firm Argus … Read more