Tag: crypto stocks

Crypto Mining Stocks Eye Best Month in a Year Atop Bitcoin Jump
17Jan By adminNo Comments
Technology

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...
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SPACs and Crypto’s Loveless Marriage was Doomed
6Dec By adminNo Comments
Technology

SPACs and Crypto’s Loveless Marriage was Doomed

[ad_1] Crypto companies seeking the public markets’ stamp of approval face a rightly skeptical SEC. Banker Bob Diamond was forced to pull the ripcord this week on his attempt to take stablecoin issuer Circle Internet Financial public via a special purpose acquisition company. The ex-Barclays Plc boss's dealmaking ability probably wasn't the issue. Nor was the target's financial performance: Circle earns interest income on the reserves that backstop its stablecoin USDC, and rising interest rates have thus benefited its bottom line. Instead, the party pooper was almost certainly the Securities and Exchange Commission. Following the collapse of crypto exchange FTX in November, the regulator's already elevated wariness of crypto is now at DEFCON 1. Trying to match a crypto company wi...
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Bitcoin Sinks Further 70% in Standard Chartered List of Possible 2023 Upsets
5Dec By adminNo Comments
Technology

Bitcoin Sinks Further 70% in Standard Chartered List of Possible 2023 Upsets

[ad_1] Speculators cleaving to the view that the crypto rout is mostly over are at risk of a rude awakening in 2023, according to Standard Chartered. Speculators cleaving to the view that the crypto rout is mostly over are at risk of a rude awakening in 2023, according to Standard Chartered.A further Bitcoin plunge of about 70% to $5,000 next year is among the “surprise” scenarios that markets may be “under-pricing,” the bank's Global Head of Research Eric Robertsen wrote in a note on Sunday. Demand could switch from Bitcoin as a digital version of gold to the real thing, spurring to a 30% rally in the yellow metal, Robertsen also said. This possible outcome involves a reversal in interest-rate hikes as economies struggle and more crypto “bankruptcies and a collapse in investor confid...
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Crypto Exchange Bybit to Cut 30% of Jobs in ‘Deepening Bear Market’
5Dec By adminNo Comments
Technology

Crypto Exchange Bybit to Cut 30% of Jobs in ‘Deepening Bear Market’

[ad_1] Cryptocurrency exchange Bybit is planning to cut its workforce by 30% amid a continued bear market in the asset class, co-founder and Chief Executive Officer Ben Zhou said. Cryptocurrency exchange Bybit is planning to cut its workforce by 30% amid a continued bear market in the asset class, co-founder and Chief Executive Officer Ben Zhou said. The moves are part of an ongoing reorganization aimed at refocusing efforts, and reductions will be across the board, Zhou said Sunday, adding the priority is to ensure business operations are unaffected and client assets remain safe. He cited crypto prices trending lower and the struggles of companies such as bankrupt crypto lender BlockFi and embattled crypto brokerage Genesis as signals “to tell us that we are entering into an eve...
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Crypto Stocks Teeter Near Abyss as Fink’s Warning Adds to Angst
4Dec By adminNo Comments
Technology

Crypto Stocks Teeter Near Abyss as Fink’s Warning Adds to Angst

[ad_1] Analysts and investors are struggling to call a bottom in crypto stocks in the wake of a brutal month that ended with the head of BlackRock Inc. saying most digital-asset firms won’t survive. Analysts and investors are struggling to call a bottom in crypto stocks in the wake of a brutal month that ended with the head of BlackRock Inc. saying most digital-asset firms won't survive. Cryptocurrency firms including Coinbase Global Inc., Galaxy Digital Holdings Ltd. and MicroStrategy Inc. all plunged more than 25% last month. The declines added to the pain of a dismal year amid a deep and extended plunge in Bitcoin and other digital tokens. While that trio of firms rallied this week, they've still wiped out roughly $52 billion of shareholder value in 2022. Already reeling from ...
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