Ether (ETH) is down 38% in three weeks and the current $2,000 level is 59% below the $4,870 all-time high that was reached in November 2021. Additional newsflow that added to the current market wide volatility were the bankruptcy fears that emerged after Coinbase, the largest U.S. exchange reported a $430 million first-quarter 2022 loss. In the most recent 10-Q…
The United States Senate has confirmed the nomination of Jerome Powell as the chair of the board of governors of the Federal Reserve System until 2026. In an 80–19 landslide vote on the Senate floor on Thursday, U.S. lawmakers confirmed Powell as chair of the Federal Reserve, a position he held from February 2018 until February 2022, when he was…
One of LUNA’s celebrity holders is taking to social media to document his losses. British YouTuber and rapper JJ Olatunji, more commonly known as KSI, shared Thursday morning that the $2.8 million he invested into Do Kwon’s cratered cryptocurrency, Terra (LUNA), had plummeted to a new valuation of less than $1,000 in a day. LUNA is a cryptocurrency created in…
David Marcus, ex-Meta executive for Facebook Messenger, has announced the creation of his new company, Lightspark.Lightspark will focus on building, exploring and creating on the Bitcoin Lightning Network. Marcus notes his passionate belief that led to this decision was the “need for change in our payments and financial systems.” David Marcus, Facebook Messenger’s former lead and previous PayPal executive, announced…
According to the Electric Coin Company, the team behind the cryptocurrency network Zcash, the protocol is soon to implement the largest upgrade in history. The Zcash development team has released the 5.0.0 codebase which supports the NU5 upgrade that will occur on or around May 31, at block height 1,687,104. Electric Coin Company and Zcash Prepare for Network Upgrade The…
Bitcoin may be in a bearish market, but the mining industry is growing bigger than ever. Bitcoin mining difficulty set a new record high for the sixth time this year on Tuesday, reaching 31.25 trillion, according to mining data from Braiins. The 4.89% adjustment was the third-largest increase this year. Even though the leading cryptocurrency’s price has dropped sharply through…
Bad news continues to dominate crypto media headlines and today’s juiciest tidbit was the unexpected collapse of the Terra ecosystem. In addition to the weakness seen in equities, listed companies with exposure to blockchain startups and cryptocurrency mining have also declined sharply. Bitcoin mining stocks continue bleeding… Mining investors probably wish they had simply bought bitcoin instead at the beginning…
XP informed Cointelegraph that XTAGE will launch in Q2 2022 and will be fully integrated into the XP Inc ecosystem — the largest investment brokerage in Brazil with more than 3.5 million clients and $168 billion assets under custody. XP stated that the exchange will initially offer the purchase and sale of cryptocurrencies, but the intention is that the platform…
Major crypto exchange Binance announced it will be delisting its Tether (USDT)-margined Terra (LUNA) futures contracts following a more than 99% drop in price. In a Thursday blog post, Binance said it would be taking “precautionary measures” around its LUNA/USDT perpetual contracts, intending to delist the pair if the price goes under 0.005 USDT. The announcement followed the exchange changing…
Bitcoin (BTC) bulls demanded a rematch of $30,000 later on May 12 as the market recovered from its lowest levels since late 2020. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView DXY looms large as BTC recovers Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading above $29,500, holding higher after the Wall Street open. The pair was volatile but showing…
