crypto price – Page 2

Cryptoverse: Hooked on growth, bitcoin investors turn to smart tokens

9Mar

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Technology

Cryptoverse: Hooked on growth, bitcoin investors turn to smart tokens

[ad_1] For investors living on the digital edge, bitcoin is starting to look a little old-fashioned.Hooked on high growth, some are turning away from the original cryptocurrency - designed as an alternative to regular cash - in favor of its descendants created as native tokens of blockchain platforms that host smart contracts and apps. MarketVector's Smart Contract Leaders Index, which tracks major tokens of this kind - including ether, dot and solana - is up 36% in 2023, outpacing even bitcoin's 33% rise. Solana's token is up 76% this year. Bundeep Rangar, CEO of crypto-focused investor Fineqia, said he expected the biggest crypto returns to come from smart contract tokens on platforms that support decentralized finance (DeFi) apps."Those are ones that you will find capital appreciati...

7Mar

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Technology

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 ...

Crypto Retrenchment Persists With Over 2,000 Jobs Lost in 2023

24Feb

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Crypto Retrenchment Persists With Over 2,000 Jobs Lost in 2023

[ad_1] The digital-assets industry has shed more than 2,000 jobs in the first two months of 2023, as companies continued to retrench even as crypto prices staged a partial recovery.US cryptocurrency exchange Coinbase Global Inc. this week indicated that more layoffs could be in store, after cutting 20% of its workforce in January. Other trading venues including Crypto.com, Huobi Global, Gemini and Luno also announced job cuts in the past two months. Exchanges' revenues are reliant on retail trading, which has been slow to pick up after a wave of failures and scandals ripped through the sector last year. Layoffs have been widespread among other types of crypto businesses too. Chainalysis, a company that specializes in tracking digital-asset transactions and counts Singapore's GIC among ...

Chinese crypto scams targeting Filipinos to work for them: official

15Feb

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Chinese crypto scams targeting Filipinos to work for them: official

[ad_1] Chinese criminals running cryptocurrency scams in Southeast Asia are targeting Filipinos to work for them because of their English-language and computer skills, a Philippine foreign ministry official said Monday. Filipinos were "prized" targets for scam networks operating in Myanmar, Laos and Cambodia, said Eduardo de Vega, acting undersecretary for migrant workers' affairs at the Department of Foreign Affairs. De Vega said efforts to repatriate Filipinos sucked into the scams were ongoing, with more than 100 brought home since last year. The latest group arrived in Manila on Monday. Four men, all in their 30s, had been trafficked into Myanmar for "less than two months", during which they were held in compounds, De Vega told AFP. The men were in Dubai when they were recr...

PayPal pauses stablecoin work amid regulatory scrutiny of crypto – Bloomberg News

13Feb

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PayPal pauses stablecoin work amid regulatory scrutiny of crypto – Bloomberg News

[ad_1] PayPal Holdings Inc is pausing work on its stablecoin as regulators increase scrutiny of cryptocurrencies and a key partner on the project faces a probe by the New York State Department of Financial Services, Bloomberg News reported on Friday. PayPal had hoped to debut the stablecoin, which will be backed one for one by the dollar, in the coming weeks, Bloomberg reported, citing a person with knowledge of the matter. "We are exploring a stablecoin; if and when we seek to move forward, we will of course, work closely with relevant regulators," a spokesperson for the payments firm said in an emailed statement. The cryptocurrency market is going through a turbulent period as the collapse of some of its biggest players, including FTX, has shaken the faith of investors in what...

Crypto Mining Stocks Eye Best Month in a Year Atop Bitcoin Jump

17Jan

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Crypto Mining Stocks Eye Best Month in a Year Atop Bitcoin Jump

[ad_1] A Bitcoin rebound has put crypto mining stocks on course for their best monthly performance in at least a year, providing some respite from the debt and energy-price worries that pummeled the shares in 2022. A Bitcoin rebound has put crypto mining stocks on course for their best monthly performance in at least a year, providing some respite from the debt and energy-price worries that pummeled the shares in 2022. The 20-member MVIS Global Digital Assets Mining Index is up 64% so far in January, outstripping Bitcoin's 28% advance. That's the gauge's best month since its inception at the end of 2021 and contrasts with last year's 88% drop. The Luxor Hashprice Index — which seeks to measure how much a miner can expect to earn from the computing power used for the Bitcoin netwo...

4Jan

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Beware the Dangers of Crypto Regulation

[ad_1] With so many unknowns and the risks of contagion mostly contained, the best policy right now is caution. The collapse of FTX and the charges against Sam Bankman-Fried have brought many renewed calls for crypto regulation, from both commentators and legislators. That is precisely why this is a time for caution. No matter how strong the temptation, we should not overregulate. Begin with two central facts. First, there are numerous ways for small and large investors to lose their money, including by investing in risky equities. Regulating crypto won't end that danger. Second, despite being one of the largest financial frauds in history, FTX has not created systemic financial risk, which should be the main concern of regulators. And market forces already have made the risk from ...

YEARENDER-Cryptocurrencies at crossroads after annus horribilis

22Dec

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YEARENDER-Cryptocurrencies at crossroads after annus horribilis

[ad_1] Crashes, contagion, collapses came in such quick succession that investors were, towards the end of the year, asking serious existential questions. To borrow from Britain's Queen Elizabeth, 2022 is not a year on which the cryptocurrency world shall look back with undiluted pleasure.Crashes, contagion, collapses came in such quick succession that investors were, towards the end of the year, asking serious existential questions. After all, the largest cryptocurrency, bitcoin, has not kept its head above water for more than a week at a time, and is down about three-quarters from last November's $69,000 peak. The market value of the 22,000-odd tokens and coins is now at less than a third of the peak $3 trillion in November 2021, and many of them are comatose, if not outright dead.T...

Animoca Founder Says Crypto ‘Cheering’ Sam Bankman-Fried’s Arrest

15Dec

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Animoca Founder Says Crypto ‘Cheering’ Sam Bankman-Fried’s Arrest

[ad_1] A co-founder of crypto investor and game developer Animoca Brands Corp. said many in the digital-asset industry welcome the arrest of Sam Bankman-Fried because it helps to separate the fallen tycoon from the sector. A co-founder of crypto investor and game developer Animoca Brands Corp. said many in the digital-asset industry welcome the arrest of Sam Bankman-Fried because it helps to separate the fallen tycoon from the sector. “The reputational impact for crypto has definitely been affected because Sam was such a prolific figure,” Yat Siu, also chairman of Animoca Brands, said on Bloomberg Television on Wednesday. “But I think today, especially the news of his arrest, many people in our industry are actually cheering it on.” The US has charged Bankman-Fried with wire frau...

Binance, Tether to Solana, After FTX Fall, These Crypto Entities Are Grabbing the Spotlight

14Dec

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Technology

Binance, Tether to Solana, After FTX Fall, These Crypto Entities Are Grabbing the Spotlight

[ad_1] Sam Bankman-Fried’s arrest in the Bahamas pending a possible extradition to the US opens a fresh chapter in efforts to untangle whether his crypto empire was built using fraudulent methods. Sam Bankman-Fried's arrest in the Bahamas pending a possible extradition to the US opens a fresh chapter in efforts to untangle whether his crypto empire was built using fraudulent methods.Regardless of the outcome, the demise of his digital-asset exchange FTX continues to shake the wider crypto market's foundations. Skittish investors are pulling money out of rival exchanges, fearful of having their assets stuck should any of those venues collapse. At least one major crypto firm has filed for bankruptcy in the wake of FTX's unraveling, while two others were forced to suspend some withdrawal...