crypto price today – pressnews

Bitcoin Struggles to Recover After Near 10% Drop

4Jan

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Technology

Bitcoin Struggles to Recover After Near 10% Drop

[ad_1] Bitcoin struggled to rebound from a precipitous drop which sent the largest cryptocurrency falling as much as 9.22% earlier in the week.The token was little changed on Thursday morning London time, trading at around $43,056 and marking a partial recovery from Wednesday's low, but still 6.2% away from the year's high. Bitcoin had rallied to a 21-month high on Jan.2, ahead of ahead of an upcoming Jan. 10 deadline, that could see the US Securities and Exchange Commission approve the first exchange-traded fund tied directly to the asset's spot price. The token, along with the broader crypto market crashed suddenly on Wednesday, which some speculated occurred after Matrixport analyst Markus Thielen wrote in a note that he expects the SEC to reject all Bitcoin ETF proposals this month...

Crypto’s Dream of an Embrace by China Gets a Reality Check

4Jul

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Crypto’s Dream of an Embrace by China Gets a Reality Check

[ad_1] A shakeup at China's central bank has poured cold water on speculation that the nation may be about to loosen a ban on digital-asset trading.Industry executives including Circle Internet Financial Ltd. Chief Executive Jeremy Allaire have seized on Beijing's quiet backing of Hong Kong's push to become a crypto hub to argue that the mainland may reverse its policy. They got a reminder about the risks of such extrapolations when Pan Gongsheng was named the top Communist Party official at the People's Bank of China. The move potentially puts Pan in the running for PBOC governor and was viewed as a signal of policy continuity at the institution, which in 2021 declared all crypto-related transactions illegal. The appointment Saturday also surfaced some historic but unusually colorful c...

Crypto’s Most Powerful Woman Speaks Out as Crisis Rocks Binance

29Jun

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Crypto’s Most Powerful Woman Speaks Out as Crisis Rocks Binance

[ad_1] One senior Binance executive has managed to stay out of the global spotlight over the past six years and counting — even now as governments everywhere intensify their crypto clampdown: Yi He.As a co-founder of the besieged digital-currency empire, she's one of the most powerful players in the $1.2 trillion industry. She also has much to lose as the regulatory onslaught deepens and causes an existential crisis for crypto's largest exchange. After successfully marketing Binance in its early days across media platforms, Yi He — a former host on Chinese television — proved instrumental to its meteoric rise. Now she's confronting the most dangerous moment in the history of the firm, a dominant force in everything from token trading and venture capital to digital art. US financial watc...

Cryptoverse: Investors pick their AI race horses

26Apr

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Cryptoverse: Investors pick their AI race horses

[ad_1] What do you get when you cross cryptocurrencies with artificial intelligence?A seemingly sentient bitcoin that codes itself in the style of Japanese haikus? Alas not, though you do get billions of dollars of trading in a new class of crypto tokens. The machine mania sweeping the tech world amid the launches of bots like ChatGPT and Bard has reached the cryptoverse, with interest in tokens tied to AI blockchain projects surging. Average daily volumes for the biggest coins including SingularityNET, Fetch.AI and Render topped $1 billion in early February, hitting a two-year high, according to data firm Kaiko.AI-linked blockchain products cover a gamut of services including payments, trading models, machine-generated non-fungible tokens and blockchain-based marketplaces for AI applic...

Bitcoin ‘Halving’ Due Next Year Spurs Predictions of Rally in Token Past $50,000

24Apr

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Bitcoin ‘Halving’ Due Next Year Spurs Predictions of Rally in Token Past $50,000

[ad_1] Bitcoin's rebound is just the start of a rally that will take it past $50,000 next year courtesy of a process known as halving that curbs the supply of new tokens, according to projections from crypto analysts.The largest digital asset has climbed 70% since Dec. 31 in a partial revival from an epic rout in 2022. While the token at the moment is struggling in the vicinity of $30,000, halving holds the potential to trigger an advance of at least 78%, according to Bloomberg Intelligence and Matrixport. A halving – or halvening – cuts in half the amount of tokens that Bitcoin miners receive as reward for their work. The quadrennial event is due next around April 2024 and is part of the process of capping Bitcoin supply at 21 million tokens. The coin hit records after each of the last...

Bitcoin Surged Past $30,000. Is Another Crypto Boom on the Way?

17Apr

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Bitcoin Surged Past $30,000. Is Another Crypto Boom on the Way?

[ad_1] When Bitcoin plunged from around $30,000 to below $20,000 in little more than a week last year, Three Arrows Capital co-founder Su Zhu described the tailspin as the “nail in the coffin” for his hedge fund.Fast forward to today, and the largest cryptocurrency has just retraced that path from $20,000 back to $30,000 in the past month — but the industry is a shadow of what it was the last time the token crossed that milestone. That's because several more caskets were hammered shut in the domino-like wave of bankruptcies that followed Three Arrows' collapse: Voyager Digital, Celsius, FTX, Blockfi, Genesis Global, and other formerly high-flying startups. It's clear that while the mood has improved compared with last year's apocalyptic vibe, the promising Bitcoin rebound alone won't be...

Why Crypto Is Watching Ethereum’s ‘Shanghai’ Upgrade

10Apr

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Why Crypto Is Watching Ethereum’s ‘Shanghai’ Upgrade

[ad_1] The Ethereum network is set to undergo a technical revamp on April 12 that will allow users to withdraw tens of billions of dollars of its native token, Ether. Known as the “Shanghai” upgrade, it's a necessary step after the world's most commercially important crypto platform shifted to a less power-hungry process for ordering transactions. Investors burned by recent turmoil in crypto markets will be wondering if, presented with their first opportunity to withdraw their tokens, some Ether holders will run for the hills. 1. What is Ethereum?It's a computer network that hosts what are known as smart contracts — self-executing software agreements in which a chain of actions can flow from defined conditions and contingencies. Since it was introduced by crypto entrepreneur Vitalik But...

Germany shuts down ‘world’s largest’ crypto launderer

16Mar

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Germany shuts down ‘world’s largest’ crypto launderer

[ad_1] German authorities said Wednesday they had taken down the "world's largest" money laundering site for cryptocurrency, seizing millions of euros' worth of bitcoin in the process.Law enforcement officials secured around 44 million euros ($46 million) of the digital currency in the move against online platform ChipMixer, the Federal Criminal Police Office (BKA) and Frankfurt prosecutor's office said in a statement. Working together with authorities in the United States and Europol, investigators also seized the servers belonging to the "darknet" site. ChipMixer's operators are suspected of "commercial money laundering and running a criminal trading platform on the internet", the German authorities said.The site is said to have accepted criminally obtained bitcoin to pay it out agai...

Billions Worth of Crypto Trades at Risk as Bank Shutdowns Take Toll

13Mar

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Billions Worth of Crypto Trades at Risk as Bank Shutdowns Take Toll

[ad_1] The digital-asset market is coming off of a turbulent year featuring a number of high-profile blowups. Now, two shutdowns in the banking industry — SVB Financial Group's Silicon Valley Bank and Silvergate Capital Corp. — have set off a fresh set of stresses. SVB's failure triggered a knock-on effect in the crucial market for stablecoins after digital-asset giant Circle Internet Financial Corp., one of the biggest issuers of the widely used tokens known for their perceived safety, revealed it had $3.3 billion of reserves with the bank. The news caused Circle's token, USD Coin, to slip below its intended 1-for-1 peg with the dollar, sending a shock through the market. As concerning as USD Coin's de-peg was, it is the shutdown of crypto-friendly bank Silvergate...

7Mar

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How The FTX Collapse Shook The Bahamas

[ad_1] It's been three months since one of the most influential crypto exchanges collapsed into bankruptcy. FTX's demise brought with it a wave of financial uncertainty and distress across the crypto industry. But it also had an effect on the small island nation where the crypto exchange had established its headquarters: The Bahamas. This is not the Caribbean's first financial crisis. History suggests it won't be the last. But it is perhaps one of the highest profile losses, and potentially the most damaging. It comes as islands across the region try to diversify away from tourism revenue. The Bahamas had high hopes that an ambitious financial sector would achieve that. But crypto was a big part of the game plan, and now that vision is crumbling. Can the Bahamas fill the gap left ...