Crypto Crash Widens Divide Between Rich and Amateur Traders

No cryptocurrency investor has been spared the pain of plunging prices. But the fallout from more than $700 billion in losses is far from even.

#armstrong-brian-1983, #bitcoin-currency, #careers-and-professions, #coinbase-inc, #computers-and-the-internet, #currency, #executive-compensation, #gemini-trust-co-llc, #high-net-worth-individuals, #labor-and-jobs, #layoffs-and-job-reductions, #start-ups, #unemployment, #virtual-currency, #winklevoss-cameron, #winklevoss-tyler

Wonking Out: Wasn’t Bitcoin Supposed to Be a Hedge Against Inflation?

Another crypto myth bites the dust.

#bitcoin-currency, #economics-theory-and-philosophy, #federal-reserve-system, #gold, #inflation-economics, #interest-rates, #internal-sub-only-nl, #international-trade-and-world-market, #united-states-economy, #us-dollar-currency, #virtual-currency

Bitcoin Plummets Below $20,000 for First Time Since November 2020

Its fall was accelerated in recent weeks by the collapse of two major cryptocurrency projects while sowing doubts about the stability of the overall cryptocurrency market.

#banking-and-financial-institutions, #bitcoin-currency, #computers-and-the-internet, #currency, #layoffs-and-job-reductions, #prices-fares-fees-and-rates, #quarantine-life-and-culture, #social-media, #virtual-currency

Tether: The Coin That Could Wreck Crypto

As cryptocurrencies have plunged, attention has focused on a potential point of vulnerability: the market’s reliance on a so-called stablecoin called Tether.

#banking-and-financial-institutions, #bitcoin-currency, #commercial-paper-finance, #computers-and-the-internet, #currency, #james-letitia, #regulation-and-deregulation-of-industry, #tether, #virtual-currency, #yellen-janet-l

Inside a Corporate Culture War Stoked by a Crypto C.E.O.

Jesse Powell, who leads the crypto exchange Kraken, has challenged the use of preferred pronouns, debated who can use racial slurs and called American women “brainwashed.”

#bitcoin-currency, #coinbase-inc, #computers-and-the-internet, #kraken-payward-inc, #layoffs-and-job-reductions, #powell-jesse-cryptocurrency-executive, #start-ups, #virtual-currency, #workplace-environment

Crypto Firms Quake as Prices Fall

Crypto companies are laying off staff, freezing withdrawals and trying to stem losses, raising questions about the health of the ecosystem.

#banking-and-financial-institutions, #bitcoin-currency, #coinbase-inc, #computers-and-the-internet, #layoffs-and-job-reductions, #start-ups, #virtual-currency

Bitcoin Drops 18 Percent to Lowest Price Since 2020

The cryptocurrency market plunged again as Ether, the second-most valuable currency, dropped more than 20 percent.

#bitcoin-currency, #stocks-and-bonds, #united-states-economy, #virtual-currency

How Anonymous Is Bitcoin, Really?

In myth, the cryptocurrency is egalitarian, decentralized and all but anonymous. The reality is very different, scientists have found.

#bitcoin-currency, #blockchain-technology, #computers-and-the-internet, #cryptography-codes-and-ciphers, #data-mining-and-database-marketing, #mathematics, #silk-road-web-site, #virtual-currency, #your-feed-science

How a Trash-Talking Crypto Bro Caused a $40 Billion Crash

Do Kwon, a South Korean entrepreneur, hyped the Luna and TerraUSD cryptocurrencies. Their failures have devastated some traders, though not the investment firms that cashed out early.

#bitcoin-currency, #computers-and-the-internet, #currency, #do-kwon, #entrepreneurship, #hedge-funds, #social-media, #start-ups, #terraform-labs, #venture-capital, #virtual-currency

All Those Celebrities Pushing Crypto Are Not So Vocal Now

Crypto boosters such as Matt Damon, Reese Witherspoon and Gwyneth Paltrow have been criticized for hyping virtual currency without highlighting the risks.

#advertising-and-marketing, #bitcoin-currency, #celebrities, #crypto-com-foris-dax-inc, #damon-matt, #david-larry, #embiid-joel, #hk-ftx-trading-ltd-futures-exchange, #online-advertising, #paltrow-gwyneth, #virtual-currency, #witherspoon-reese

Crashing Crypto: Is This Time Different?

Celebrity endorsements may signal the end of an era.

#adams-eric-l, #banking-and-financial-institutions, #bitcoin-currency, #economics-theory-and-philosophy, #el-salvador, #internal-sub-only-nl, #international-trade-and-world-market, #virtual-currency

Sam Bankman-Fried, Crypto Billionaire, Wants Washington to Follow His Lead

Sam Bankman-Fried is a studiously disheveled billionaire who made a fortune overseeing trades that are too risky for the U.S. market. Now he wants Washington to follow his lead.

#baha-mar-nassau-bahamas-hotel, #bankman-fried-sam, #bitcoin-currency, #campaign-finance, #computers-and-the-internet, #content-type-personal-profile, #flynn-carrick, #hk-ftx-trading-ltd-futures-exchange, #philanthropy, #regulation-and-deregulation-of-industry, #singer-peter-1946, #virtual-currency

Cryptocurrencies Melt Down in a ‘Perfect Storm’ of Fear and Panic

A steep sell-off that gained momentum this week starkly illustrated the risks of the experimental and unregulated digital currencies.

#armstrong-brian-1983, #banking-and-financial-institutions, #bitcoin-currency, #blockchain-technology, #coinbase-inc, #computers-and-the-internet, #united-states-economy, #virtual-currency

Bitcoin Is Increasingly Acting Like Just Another Tech Stock

The cryptocurrency’s plunging value has mirrored losses in the Nasdaq, a benchmark that’s weighted toward tech stocks.

#bitcoin-currency, #coinbase-inc, #computers-and-the-internet, #gold, #inflation-economics, #russian-invasion-of-ukraine-2022, #stocks-and-bonds, #virtual-currency

Bitcoin Mining Is a Tax on Our Electrical Grid

The willpower to reduce Bitcoin’s carbon footprint is muted amid wild cryptocurrency speculation.

#bitcoin-currency, #computers-and-the-internet, #dorsey-jack, #global-warming, #internal-sub-only-nl, #ripple-labs-inc, #virtual-currency

Crypto Industry Helps Write, and Pass, Its Own Agenda in State Capitols

In the absence of federal regulations, crypto lobbyists and executives are going state by state to get favorable rules enacted. Many lawmakers have been willing partners.

#bitcoin-currency, #computers-and-the-internet, #florida, #illinois, #law-and-legislation, #lobbying-and-lobbyists, #politics-and-government, #regulation-and-deregulation-of-industry, #state-legislatures, #states-us, #virtual-currency, #wyoming

How Elon Musk’s ‘Soft Power’ Might Shape Twitter’s Future

Casey Newton and Kara Swisher discuss Twitter’s recent shake-up.

#agrawal-parag, #audio-neutral-informative, #bitcoin-currency, #boards-of-directors, #computers-and-the-internet, #dorsey-jack, #musk-elon, #newton-casey, #social-media, #stocks-and-bonds, #twitter

A Viral Case Against Crypto, Explored

The video essayist Dan Olson explains the dangers lurking in the culture and ideology that surround digital currency.

#audio-neutral-informative, #bitcoin-currency, #blockchain-technology, #computers-and-the-internet, #finances, #nonfungible-tokens-nfts, #winkelmann-mike-beeple

Ben McKenzie, “O.C.” Star, Pivots to Crypto Critic

The actor, best known for his starring role in “The O.C.,” has become an outspoken critic of a volatile market driven by speculation. Who’s listening?

#bitcoin-currency, #mckenzie-ben

Ben McKenzie, “O.C.” Star, Pivots to Crypto Critic

The actor, best known for his starring role in “The O.C.,” has become an outspoken critic of a volatile market driven by speculation. Who’s listening?

#bitcoin-currency, #mckenzie-ben

Ex-Party Producer Charged in $2.7 Million Bitcoin-Laundering Scheme

Thomas Spieker’s clients included dark-web drug dealers and a cellphone-hacking identity thief, prosecutors said.

#bitcoin-currency, #black-markets, #bragg-alvin, #cyberattacks-and-hackers, #manhattan-nyc, #money-laundering, #spieker-thomas, #virtual-currency

Everyone Has Crypto FOMO, but Does It Belong in Your Portfolio?

A growing array of investment options make it easier to put digital tokens alongside traditional investments. Here’s what to know.

#betterment-llc, #bitcoin-currency, #coinbase-inc, #content-type-service, #fidelity-investments, #gemini-trust-co-llc, #personal-finances, #retirement, #virtual-currency

Bitcoin Miners Want to Recast Themselves as Eco-Friendly

Facing intense criticism, the crypto mining industry is trying to change the view that its energy-guzzling computers are harmful to the climate.

#alternative-and-renewable-energy, #argo-blockchain, #bitcoin-currency, #coal, #computers-and-the-internet, #environment, #hydroelectric-power, #musk-elon, #peter-wall, #solar-energy, #texas, #virtual-currency, #wind-power

Bitcoin’s Value Drops Amid Russia-Ukraine War and Inflation

Long hailed by its advocates as a safe hedge during uncertain times, Bitcoin’s value has fallen steadily in recent weeks.

#bitcoin-currency, #embargoes-and-sanctions, #russia, #russian-invasion-of-ukraine-2022, #ukraine, #united-states-economy, #virtual-currency, #war-and-armed-conflicts

Reinvention and Nostalgia: The Project to Remake Twitter

The company is undertaking a far-reaching effort to change how it works. For some, it is an echo of their early idealism and a vision for what the internet could have been.

#agrawal-parag, #bitcoin-currency, #bray-tim-1955, #computers-and-the-internet, #dash-anil, #dorsey-jack, #mobile-applications, #social-media, #twitter

After Chinese Ban, Cryptocurrency Mining Got Worse for Climate

New research shows that China’s Bitcoin ban has sent the process of creating new coins, known as mining, to countries where it uses far less renewable energy.

#alternative-and-renewable-energy, #bitcoin-currency, #china, #global-warming, #greenhouse-gas-emissions, #joule-journal, #virtual-currency

Russia Could Use Cryptocurrency to Mitigate U.S. Sanctions

Russian companies have many cryptocurrency tools at their disposal to evade sanctions, including a so-called digital ruble and ransomware.

#banking-and-financial-institutions, #bitcoin-currency, #blockchain-technology, #cyberattacks-and-hackers, #cyberwarfare-and-defense, #embargoes-and-sanctions, #international-trade-and-world-market, #moscow-russia, #russia, #treasury-department, #ukraine, #united-states, #united-states-international-relations, #virtual-currency

Crypto Scammers Target Dating Apps

“Everything was a lie,” said one woman lured into a recent scam.

#bitcoin-currency, #computers-and-the-internet, #dating-and-relationships, #frauds-and-swindling, #mobile-commerce-and-payments, #online-dating, #quarantine-life-and-culture, #virtual-currency

Ilya Lichtenstein Held in Bitcoin Case While Heather Morgan Is Given Bail

A judge appeared more concerned by the flight risk posed by Ilya Lichtenstein than by his wife, Heather Morgan, in a case accusing them of a sweeping scheme to launder stolen cryptocurrency.

#bail, #bitcoin-currency, #decisions-and-verdicts, #lichtenstein-ilya, #money-laundering, #morgan-heather-1990, #virtual-currency

Divorcing Couples Fight Over the Kids, the House and Now the Crypto

Dividing the family’s Bitcoin stash has become a major source of contention in divorce cases.

#bitcoin-currency, #computers-and-the-internet, #divorce-separations-and-annulments, #forensic-science, #francis-desouza, #suits-and-litigation-civil, #virtual-currency

Inside Heather Morgan and Ilya Lichtenstein’s Confounding Bitcoin Case

The arrests of Ilya Lichtenstein and Heather Morgan left the world of cryptocurrency incredulous: Could this goofy young couple have been Bitcoin’s Bonnie and Clyde?

#bitcoin-currency, #bitfinex, #computers-and-the-internet, #currency, #federal-bureau-of-investigation, #justice-department, #manhattan-nyc, #robberies-and-thefts

Is the Crypto Gold Rush a Giant Scam?

Web3 is a still-nascent, fuzzy idea, but if you squint, you can see its growing intrusion onto mainstream culture. How much of it is hype?

#bitcoin-currency, #blockchain-technology, #cryptography-codes-and-ciphers, #damon-matt, #debatable, #fallon-jimmy, #hilton-paris, #paltrow-gwyneth

Who are Ilya Lichtenstein and Heather Morgan, Charged in Bitcoin Case?

Before being accused in a major cryptocurrency conspiracy, Ilya Lichtenstein and Heather Morgan shared advice, ideas and amateur rap videos online.

#bitcoin-currency, #forbes-magazine, #social-media

Justice Dept. Seizes $3.6 Billion in Bitcoin and Arrests Married Couple

The couple were accused of conspiring to launder Bitcoin that had been stolen in 2016 from Hong Kong-based Bitfinex, one of the world’s largest virtual currency exchanges.

#bitcoin-currency, #bitfinex, #currency, #cyberattacks-and-hackers, #hong-kong, #justice-department, #monaco-lisa-o, #money-laundering, #robberies-and-thefts, #virtual-currency

They Made Millions on Luna, Solana and Polygon: Crypto’s Boom Beyond Bitcoin

The ranks of cryptocurrency speculators have swelled, with even obscure tokens minting the newly wealthy: at least on the blockchain.

#bitcoin-currency, #computers-and-the-internet, #currency, #high-net-worth-individuals, #luxury-goods-and-services, #nonfungible-tokens-nfts, #virtual-currency

Guns, Germs, Bitcoin and the Antisocial Right

The push to make Americans’ lives nasty, brutish and short.

#abbott-gregory-w-1957, #bitcoin-currency, #coronavirus-2019-ncov, #desantis-ron, #florida, #gun-control, #republican-party, #school-shootings-and-armed-attacks, #social-media, #texas, #united-states-politics-and-government, #vaccination-and-immunization

How Crypto Became the New Subprime

Once again, risky financial products are being sold to the vulnerable.

#bitcoin-currency, #subprime-mortgage-crisis, #virtual-currency

It’s Hard to Tell When the Crypto Bubble Will Burst, or If There Is One

Die-hard enthusiasts, slick operators and the lure of riches have kept digital asset prices soaring. Traditional notions of value don’t apply.

#banking-and-financial-institutions, #binance, #bitcoin-currency, #blockchain-technology, #chainalysis-inc, #coinbase-inc, #contessoto-glauber, #cuban-mark, #dogecoin-project, #ethereum-foundation, #open-markets-institute, #securities-and-exchange-commission, #virtual-currency

The Rise of the Crypto Mayors

This new political breed accepts paychecks in Bitcoin. The mayors also want to use buzzy new tech like NFTs to raise money for public projects.

#adams-eric-l, #bitcoin-currency, #blockchain-technology, #computers-and-the-internet, #jackson-tennessee, #local-government, #mayors, #scott-conger, #social-media, #suarez-francis-x-1977, #tennessee, #two-harbors-minn, #virtual-currency

The Strange Allure of the Blockchain

Why the appeal of cryptocurrencies and NFTs crosses borders of class and race.

#bitcoin-currency, #blockchain-technology, #internal-sub-only-nl, #nonfungible-tokens-nfts, #virtual-currency

Eric Adams Is Taking His First Paycheck in Crypto

Mr. Adams, who wants New York City to become the global capital for cryptocurrency, will have his paycheck converted into Bitcoin and Ethereum.

#adams-eric-l, #bitcoin-currency, #coinbase-inc, #miami-fla, #new-york-city, #suarez-francis-x-1977, #virtual-currency, #wages-and-salaries

Bitcoin, Inflation and the Misguided Fear of Government Money Creation

Bitcoin can’t solve a problem we don’t actually have.

#banking-and-financial-institutions, #bitcoin-currency, #currency, #economics-theory-and-philosophy, #inflation-economics, #interest-rates, #internal-sub-only-nl, #international-trade-and-world-market, #united-states-economy, #united-states-politics-and-government, #us-dollar-currency

Crusading for God, Family and … Bitcoin?

What’s the deepening alliance between MAGA and cryptocurrency?

#banking-and-financial-institutions, #bitcoin-currency, #conspiracy-theories, #polarization, #virtual-currency

The New Get-Rich-Faster Job in Silicon Valley: Crypto Start-Ups

Tech executives and engineers are quitting Google, Meta, Amazon and other large companies for what they say is a once-in-generation opportunity with crypto.

#amazon-com-inc, #bitcoin-currency, #blockchain-technology, #coinbase-inc, #computers-and-the-internet, #dorsey-jack, #entrepreneurship, #executive-compensation, #facebook-inc, #google-inc, #labor-and-jobs, #marcus-david-a, #nonfungible-tokens-nfts, #social-media, #start-ups, #virtual-currency, #wages-and-salaries

Cash Is Out. Crypto Is In. Can We Trust What’s Happening to Money?

It’s not just about the demise of coins and dollar bills. It’s also about society’s faith in the very idea of money.

#banking-and-financial-institutions, #bitcoin-currency, #currency, #united-states-economy

Why New York State Is Experiencing a Bitcoin Boom

Cryptocurrency miners are flocking to New York’s faded industrial towns, prompting concern over the environmental impact of huge computer farms.

#bitcoin-currency, #buffalo-ny, #earthjustice, #environmental-conservation-department-nys, #finger-lakes-region-ny, #local-government, #love-canal-niagara-falls-ny, #massena-ny, #mines-and-mining, #niagara-falls-ny, #north-tonawanda-ny, #owego-ny, #seneca-lake-ny, #sierra-club

Biden and Trump S.E.C. Chiefs Trade Tips on How to Regulate Crypto

Gary Gensler and Jay Clayton are aligned on at least one thing: Many types of crypto tokens fall in the agency’s domain.

#bitcoin-currency, #clayton-walter-j, #gensler-gary-s, #regulation-and-deregulation-of-industry, #securities-and-exchange-commission, #virtual-currency

Jack Dorsey’s Twitter Departure Hints at Big Tech’s Restlessness

Jack Dorsey, who is stepping down after six years as Twitter’s chief executive, is one of the tech leaders who seem to have grown tired of managing their empires.

#bitcoin-currency, #computers-and-the-internet, #dorsey-jack, #meta-platforms-inc, #mobile-applications, #social-media, #start-ups, #twitter

Why Crypto.com Is Putting Its Name on the Staples Center

What’s Crypto.com, which is paying $700 million for the naming rights to the sports venue?

#advertising-and-marketing, #anschutz-entertainment-group, #bitcoin-currency, #computers-and-the-internet, #crypto-com, #entrepreneurship, #kris-marszalek, #los-angeles-calif, #stadiums-and-arenas, #staples-center, #virtual-currency

Ukraine Wants to Be the Crypto Capital of the World

It has to be somewhere. Why not Ukraine?

#bitcoin-currency, #bornyakov-alexander, #bribery-and-kickbacks, #chobanian-michael, #corruption-institutional, #entrepreneurship, #kuna-exchange, #kyiv-ukraine, #paterson-shadi, #sawhney-hartej, #ukraine, #virtual-currency