Text size Bitcoin has torn higher to start the year, but there is reason to think the gains could be unsustainable. Dreamstime Bitcoin and other cryptocurrencies were on pause Wednesday as traders awaited a key decision on interest rates from the Federal Reserve. After the best January for Bitcoin in a decade, bad news out … Read more
Text size Bitcoin prices have had a standout January, rallying about 40% since the start of the year. Dreamstime Bitcoin and other cryptocurrencies were slightly lower Monday, paring gains after a rally over the weekend. Crypto traders are awaiting the Federal Reserve decision on interest rates due Wednesday, which is likely to be a catalyst … Read more
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WASHINGTON—Tumult in the cryptocurrency market represents a red flag to the broader financial system, the Federal Reserve’s top banking regulator plans to tell lawmakers Tuesday, while pressing for tougher guardrails in the wake of the rapid collapse of crypto exchange FTX. Michael Barr, the Fed’s vice chairman for supervision, is expected to tell lawmakers that … Read more
U.S. stocks finished lower Monday after last week’s big rally, while investors digested fresh comments from Federal Reserve officials about the outlook for further interest-rate increases. Stocks had risen in recent days on hopes that the Fed might not have to tighten financial conditions much more after U.S. inflation in October came in below economists’ … Read more
The latest message from former FTX chief executive Sam Bankman-Fried left onlookers puzzled and alarmed after the swift decline into bankruptcy for the cryptocurrency exchange he founded. In successive tweets, Bankman-Fried merely stated, “What,” followed by the capital letter H. Bankman-Fried has been an active tweeter throughout FTX’s demise, earlier having written that he was … Read more
Customers pulled funds from Crypto.com over the weekend after the company’s chief executive said the cryptocurrency exchange mishandled a roughly $400 million transaction. Crypto.com Chief Executive Kris Marszalek said on Twitter that the transfer was sent to the wrong type of account on another exchange. The transfer of a large chunk of ether, a popular … Read more
Billionaire Dallas Maverick’s owner Mark Cuban recently offered his perspective on the implosion of crypto platform FTX late this week. “‘That’s somebody running a company that’s just dumb-as-fucking greedy.’” — Mark Cuban Cuban, speaking on Friday at a conference in Washington, D.C. hosted by Sports Business Journal, shared the view that avarice was at the … Read more
Beleaguered cryptocurrency platform FTX filed for bankruptcy protection Friday, and Chief Executive Sam Bankman-Fried resigned. FTX and a bevy of affiliates said they had more than 100,000 creditors and tens of billions of dollars in assets and liabilities. It is the largest crypto-related bankruptcy ever, and a demise remarkable for its swiftness as well as … Read more
Stephen Gibbs got spooked this week when he heard about problems brewing at FTX and he decided it was time to take his money out of the crypto exchange. Mr. Gibbs, a musician in Thailand, said he tried to withdraw his money Tuesday. But FTX that day halted both crypto and fiat withdrawals from its … Read more