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Don’t call it a collapse – it’s just a vibe shift. Since January, the market for non-fungible tokens (NFTs) has been locked in a downward spiral, with sales on one popular platform falling to less than one-seventh of their January peak, and the buyer of the so-called “Mona Lisa of the digital world” – a...
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Core Scientific, which is one of the largest publicly traded crypto mining companies in the U.S., sold nearly all its bitcoin in June. CEO Mike Levitt tells CNBC that just like any other business, bitcoin miners need to pay their bills. “We mine and earn or produce bitcoin, but our costs, expenses, and liabilities are...
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The U.S. climbs the rankings to join Germany at the summit as progressive regulations and institutional adoption drive cryptocurrency use in both countries. Germany and the United States shared the spoils in the latest quarterly global cryptocurrency rankings released by analytics firm Coincub. The two countries now share the top rankings, with Germany making space for...
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After several days of trading sideways, bitcoin finally initiated a leg up and spiked above $20,000. Most altcoins are also well in the green today, led by Ethereum’s impressive 9% surge. Bitcoin Looks to Reclaim $20K Following the end of June, which turned out to be bitcoin’s worst trading month in over a decade, the...
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Much to the chagrin of cryptocurrency investors across the ecosystem, the bear market has officially set in and brought with it devastating price collapses that have left relatively few unscathed. As the popular topic of conversation now centers on bearish predictions of how low Bitcoin (BTC) will go and how long this iteration of the...
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Fed’s Brainard says crypto needs regulation now before it becomes so big that it threatens financial system Federal Reserve Vice Chair Lael Brainard became the latest official to speak out on crypto, saying Friday that regulation is needed or the industry could become a wider danger. “Innovation has the potential to make financial services faster,...
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Crypto heavyweight at Blockchain conference Kobo blames the challenging global macro backdrop O.D. Kobo, is the former co-founder of PIR Equities, the London-based private equity firm that in 2018 became one of the first institutional investors to enter the crypto space with a $50 million investment in Bitcoin (when it was $6938) and Ethereum (at...
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Three weeks after Celsius halted all withdrawals due to “extreme market conditions” — and a few days before the crypto lender ultimately filed for bankruptcy protection — the platform was still advertising in big bold text on its website annual returns of nearly 19%, which paid out weekly. “Transfer your crypto to Celsius and you...
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Golden Child Embattled crypto lender Celsius finally filed for bankruptcy yesterday, and there’s still no telling when, or even if, customers will ever get their money back. The cryptosphere titan, which boasted a loud-and-proud “Unbank Yourself” motto, attracted bigwig and amateur investors alike with a wildly high-yield savings system marketed as a fee-free alternative to...
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Celsius Network listed a $1.19 billion deficit on its balance sheet in a bankruptcy court filingon Thursday, a day after the cryptocurrency lender filed for Chapter 11. This content was originally published here.
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