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Exchange operator Coinbase has become the first crypto company to make the Fortune 500 cut — an annual list of America’s largest corporations by revenue — ranking at 437. The move comes despite Coinbase’s current struggles induced by bearish market conditions. This is because Fortune has ranked companies for its 2022 list based on their...
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Tesla CEO Elon Musk has fed the hype around cryptocurrencies. Patrick Pleul/picture alliance via Getty Images Cryptocurrencies continued tumbling on Thursday, imperiling Tesla’s billion-dollar bitcoin bet. Tesla bought $1.5 billion of the cryptocurrency in 2021 and held on as it soared to new highs. Bitcoin has lost over half of its value in recent months...
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There are a few flavors of stablecoins out there, notably tether (USDT), USD coin (USDC), binance USD (BUSD) and dai (DAI). Also quite notably, we had terraUSD (UST). These are the five largest stablecoins and they represent roughly $160 billion of value. Three of these stablecoins (USDT, USDC, BUSD) are collateralized stablecoins issued by centralized...
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Bitcoin’s genesis block is historic, not just because it contained the first 50 bitcoins, but because it had a message coded in the hash code: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” This reference to the 2008 financial crisis from Bitcoin’s creator, the pseudonymous Satoshi Nakamoto, is often read as an...
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Big banks like the ones who participated in Elwood’s Series A raise – Goldman Sachs (GS), Barclays (BCS) and Commerzbank’s CommerzVentures – need to hold cryptocurrencies at arms length for now, which means not holding the underlying asset itself but gaining exposure via futures and options contracts. “There’s a huge focus on derivatives,” said Elwood...
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The average person probably wouldn’t recognize Changpeng Zhao’s name or face. And that’s pretty insane because at various points in recent months, Changpeng Zhao was one of the 10 richest people on the planet. Key word: “was.“ Changpeng Zhao, who is more commonly referred to as simply “CZ,” earned his fortune thanks to his 90%...
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Even more sensationally, so-called stablecoins, which are supposed to be pegged to specific currencies, such as the US dollar, and trade dollar-for-dollar with them, have collapsed as investors belatedly question the quality of the unstable assets (or collateral) backing these purportedly safe investments. The TerraUSD stablecoin, which is remarkably backed by bitcoin, used to trade...
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The Galaxy Digital CEO discussed the fall of stablecoin UST and luna in a letter on Wednesday. This content was originally published here.
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Conservative Party leadership candidate Pierre Poilievre has a personal financial interest in cryptocurrencies that he has promoted during his campaign as a hedge against inflation. The Ottawa-area MP’s assets include units of Purpose Bitcoin, a Canadian-based, exchange-traded fund that holds cryptocurrencies, according to his May 4 disclosure to the federal ethics commissioner. Poilievre’s campaign denied...
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Cryptocurrency is steadily gaining traction, especially this year. Many people want to get their hands on this topic. The question now is this: Is crypto mining worth your time and money? Crypto Mining Defined Most people might think that crypto mining is only a way of creating new coins. However, crypto mining involves two significant...
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