Bitcoin, the world’s largest cryptocurrency, hit a new all-time high of $23,000 on Tuesday (Jan 26) before gradually declining in line with Wall Street’s rally. The decline in Bitcoin’s price came in response to strong economic data from the United States, which showed that the US economy is recovering. On Wednesday (Jan 27), the price …
Bitcoin Surges Past $23,000 as US Economic Data Came in Strong Read More »
Gemini, a major U.S. cryptocurrency exchange, announced on Monday (Jan. 23) that it will be cutting its workforce by 10%, marking the third time in less than a year that the company has reduced its employees. According to PitchBook, Gemini had 1,000 employees in November 2022, meaning that around 100 employees will be affected by …
Crypto Trading Platform Gemini Plans to Lay Off Another 10% of Its Employees Read More »
Bitcoin surpassed $23,000 yesterday, hitting a five-month high, boosted by expectations that the Federal Reserve (Fed) is likely to slow interest rates this year. The bitcoin price rebounded above $23,000, hitting its highest since August 19, 2022, before slowing to $22,951.25 this morning. Bitcoin is up nearly 39% since the start of the year. Economists …
Bitcoin Surpasses $23,000 as Expected Fed Interest Rate Slowdown Pushes Price Higher Read More »
Bitcoin, the world’s largest cryptocurrency, saw a surge of more than 6% on Friday (Jan. 20), breaking past $22,000, its highest level since mid-September. This comes as investors are keeping a close eye on the results of the upcoming US Federal Reserve meeting, which is expected to result in a 0.25% hike in interest rates. …
Bitcoin Surges Past $22,000, Highest in Four Months as Investors Eye Fed Meeting Read More »
The US government has seized nearly $700 million in assets from Sam Bankman-Fried, the founder of cryptocurrency exchange platform FTX, according to federal court documents released on Friday. The assets, mostly in Robinhood stock, were seized by federal prosecutors as part of an ongoing investigation into allegations that Bankman-Fried stole billions of dollars from FTX …
US Government Seizes Nearly $700 Million in Assets from Sam Bankman-Fried Read More »
US cryptocurrency lending firm Genesis Global Capital is reportedly preparing to file for bankruptcy as early as this week. The company has suspended withdrawals since November 2022. The news was reported by blockchain and cryptocurrency news site, The Block, which cites a source stating that Genesis is negotiating a bankruptcy plan with its creditors. The …
Crypto Lending Firm Genesis Preparing to File for Bankruptcy Read More »
The price of bitcoin dropped below $21,000 following reports that the United States will announce major enforcement measures against the cryptocurrency market. This morning, the price of bitcoin plummeted 2.44% to $20,708. The US Department of Justice issued a statement saying that they will be announcing a major enforcement measure against the international cryptocurrency market, …
Bitcoin Tumbles Past $21,000 as US Prepares to Announce Major Measures Read More »
In a blog post on January 18, Coinbase Global Inc announced that it will be closing its operations in Japan. This decision comes less than a month after major digital asset exchange, Kraken, also announced its withdrawal from the Japanese market. According to the statement, Coinbase customers in Japan will have until February 16 to …
Coinbase Global Inc. Announces Closure of Japanese Operations, Follows Suit of Kraken Read More »
According to research firm BarclayHedge, hedge funds trading in cryptocurrency experienced a nearly 50% loss in 2022. This decline is a continuation of the ripple effects caused by the collapse of cryptocurrency exchange FTX, which filed for bankruptcy in November. Head of Research at BarclayHedge, Ben Crawford, stated that the conversation around trading in cryptocurrency …
Hedge Funds Trading Cryptocurrency See Nearly 50% Loss in 2022 Read More »
On Saturday, January 14th, Bitcoin saw significant growth, rising above $21,000. Experts believe that this could be a sign of Bitcoin reaching its bottom and inflation reaching its peak. The cryptocurrency experienced a 7.5% increase to $21,299 and has not been above $20,000 since November 8th. Additionally, Bitcoin has been on an upward trend for …