Survivors of 2022 crypto crash could be the new Amazons and eBays – BOE

Survivors of 2022 crypto crash could be the new Amazons and eBays – BOE

(Kitco News) The companies that survive the 2022 crypto crash could become the new Amazons and eBays of the world, said Bank of England Deputy Governor Jon Cunliffe. There are similarities between the dotcom collapse of 2000 and this year’s crypto price meltdown, Cunliffe said at the Point Zero Forum in Zurich on Wednesday. “The … Read more

The crypto pendulum swings back to ‘real economic value’: can Bitcoin price survive a recession?

The crypto pendulum swings back to ‘real economic value’: can Bitcoin price survive a recession?

(Kitco News) After briefly touching $17,000 over the weekend, Bitcoin is back above $20,000. But can the price outlook recover as recession calls grow and inflation continues to dominate market headlines? Stablecorp CEO Alex McDougall weighs in. When looking at price forecasts for the rest of 2022, investors need to separate crypto’s technology angle from … Read more

The future monetary policy is all about CBDCs, not crypto – BIS’ report

The future monetary policy is all about CBDCs, not crypto – BIS’ report

(Kitco News) “Anything that crypto can do, CBDCs can do better” is the sentence that describes the Bank for International Settlements’ vision for the future monetary policy system. The future of money is all about central bank digital currencies (CBDCs), not crypto. And that’s because of all the flaws that cryptocurrencies pose, especially those that … Read more

South Korea puts crypto company Terraform Labs’ staff on no-fly list

South Korea puts crypto company Terraform Labs’ staff on no-fly list

The collapse of the Terra ecosystem will go down as one of the most painful and devastating chapters in crypto history. Gabby Jones | Bloomberg via Getty Images Several employees of South Korea-based Terraform labs, the company behind the stablecoin TerraUSD, which collapsed last month and roiled cryptocurrency markets, cannot leave the country, prosecutors said. … Read more

Celsius Network ‘will take time’ to restore transactions, as several US states launch investigations into crypto firm amid industry tailspin

Celsius Network ‘will take time’ to restore transactions, as several US states launch investigations into crypto firm amid industry tailspin

Cryptocurrency company Celsius Network says it will take time to normalize operations after suspending customer withdrawals and transfers a week ago.DADO RUVIC/Reuters Regulators in several US jurisdictions are investigating Celsius Network Ltd., which last week halted all transactions and withdrawals for its nearly two million customers, sending cryptocurrencies into a global tailspin. In a blog … Read more

Bitcoin drops below US$ 20,000 for the first time since 2020 – National

Bitcoin drops below US$ 20,000 for the first time since 2020 – National

The price of bitcoin fell below $20,000 for the first time since late 2020 on Saturday, in a fresh sign that the selloff in cryptocurrencies is deepening. Bitcoin, the most popular cryptocurrency, fell below the psychologically important threshold, dropping as much as 9% to less than $19,000, according to CoinDesk. The last time bitcoin was … Read more

5 things to know on June 19, 2022: Start your week smart: Covid-19, Ukraine, Flight cancellations, Bitcoin, North Korea

5 things to know on June 19, 2022: Start your week smart: Covid-19, Ukraine, Flight cancellations, Bitcoin, North Korea

Here’s what else you need to know to Start Your Week Smart. • The West must continue to support Ukraine in order to deter future aggression by Russian President Vladimir Putin, NATO Secretary General Jens Stoltenberg and British Prime Minister Boris Johnson said. • A combination of rough weather, staff shortages and infrastructure challenges have … Read more

Crypto weekend meltdown: Bitcoin price touches $17k, Ethereum below $900 as renewed selloff sends prices spiraling

Crypto weekend meltdown: Bitcoin price touches k, Ethereum below 0 as renewed selloff sends prices spiraling

(Kitco News) The crypto space faced another sharp selloff during the weekend as Bitcoin plunged below $18,000 and Ethereum dropped below $900. The overall crypto market cap plummeted to $847 billion, down nearly 10% on the day. Bitcoin hit $17,677, the lowest level since November 2020, and Ethereum fell to a low of $893, the … Read more

Bill Gates on crypto and NFTs: ‘100% greater fool theory’

Bill Gates on crypto and NFTs: ‘100% greater fool theory’

(Kitco News) As crypto investors watched their market dramatically crash this week, Microsoft co-founder Bill Gates compared NFTs (non-fungible tokens) to “greater fool theory.” Here’s what he meant. Digital assets like NFTs are “100% based on the sort of greater fool theory that someone is going to pay more for it than I do,” Gates … Read more