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(Bloomberg) -- Treasury Secretary Janet Yellen gave the US government’s most forceful response yet to the meltdown of TerraUSD, saying that the crypto stablecoin’s woes underscore the risks associated with the asset class.
The backers of the TerraUSD algorithmic stablecoin are trying to raise about $1.5 billion to shore up the token after it crashed from its dollar peg, according to Kumar Gaurav, the founder and chief executive of crypto liquidity provider Cashaa.
Bitcoin could be in for more pain if it takes another leg down, based on a so-called point and figure analysis. Another 10% drawdown (as marked by red o’s) would drag it below the recent support zone (highlighted by the parallel white lines). If that happe...
Welcome to Tuesday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day.
There’s a crypto refrain when prices crash precipitously like this: The selloff is washing out the short term-focused non-believers, known as weak hands, strengthening the industry in its wake.
Bitcoin rebounded from a swoon below $30,000 as a selloff in stocks eased and a bout of calm washed across global markets.
Shares of MicroStrategy Inc. fell by the most since 2017 as the company, often used as a proxy for Bitcoin, followed the world’s largest cryptocurrency lower amid a broader selloff in risk assets.
Decentralized finance platform Compound Prime LLC received a junk credit rating from S&P Global Ratings, underscoring how crypto lending is making inroads among institutional investors -- as well as the risks involved.
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Friday is proving a washout for investors as increasingly bigger bets on Federal Reserve tightening prompted traders to offload risk and haven alike before the weekend.
Charts demonstrate the volatile ride taken by cryptocurrencies, meme stocks, and NFTs.
Investcorp Holdings, the biggest alternative asset manager in the Middle East, started raising money for a new fund aimed at taking stakes in startups developing blockchain technology.
Bitcoin’s tendency to move in tandem with technology stocks means the biggest cryptocurrency may slump to $30,000 by June, according to Arthur Hayes, the co-founder of crypto trading platform BitMEX.
Since the start of the pandemic, Bitcoin has tended to move in the same direction as the Nasdaq 100 index -- and they’re now in unison more than ever. The 40-day correlation between the two reached a record of 0.6945 on Friday, Bloomberg data show. The inc...
Bitcoin briefly dropped below $42,000 for the first time since March 23, sliding back further into the range in which it has traded this year on mounting concerns about rising interest rates.
The financial metaverse would be better served by truly stable currencies but the powers-that-be need to join in.
Hong Kong’s former financial secretary, John Tsang, has joined digital wealth firm StashAway as an adviser and will be giving away part of his soon-to-be issued non-fungible tokens to attract new clients.
(Bloomberg) -- Pudgy Penguins, a once hugely successful NFT project that got blown off course by drama that included the ousting of its founders, is attempting a comeback. Hopes are high in the newly energized community -- but in today’s crowded, up-and-do...
Stocks and bonds both do badly at times of high and rising prices, real estate doesn’t hold its value, and commodities have already surged. There’s not much left.
A pulsating beat was one of the constants at this week’s Bitcoin 2022 conference in Miami. That along with unlimited parties and testimonials about the life-changing powers of the cryptocurrency.
Kenyan photojournalist Mohamed Amin is best known for capturing the world’s attention with images of Ethiopia’s 1984 famine that inspired the Live Aid concerts.
Bitcoin fell back toward the top of a range that’s largely defined it so far in 2022, after meeting resistance at a key technical level and amid some concerns about potential regulation.
With Bitcoin settling back in a narrow trading range after a mid-March rally, investors searching for clues as to where it is headed next may want to take a look at what the options market is signaling.
Bitcoin is tracing a pattern that suggests the world’s largest digital token could build on its recent gains. A so-called triangle shape on Bitcoin’s price chart is squeezing tighter, and the cryptocurrency is jabbing at the upper end of the triangle. That...
A New York man was indicted for allegedly running a “cash-to-Bitcoin” money-laundering scheme that he openly bragged about on social media, telling clients he could help them stay “completely off the radar.”
Russia’s invasion of Ukraine has the potential to accelerate the global shift to green energy and the use of digital currencies, according to BlackRock Inc. Chief Executive Officer Larry Fink.