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The rising popularity of cryptocurrencies such as bitcoin is “of great concern,” according to Derville Rowland, one of the top officials at Ireland’s central bank. “Crypto assets are quite a speculative, unregulated investment,” and people should be “really aware they could lose the whole of that investment,” the central bank’s director general for financial conduct said in an interview. Rowland,...
Star investor Cathie Wood has a message of reassurance for Bitcoin investors amid the din of ever harsher regulatory rhetoric: officials won’t be able to make the largest cryptocurrency go away. Tough talk against digital tokens from China and calls for greater scrutiny in Europe and the U.S. have contributed to a slump in Bitcoin, but Wood said the virtual...
“We continue to closely and actively follow developments around cryptocurrencies,” said Wells Fargo CEO Charles Scharf in a statement. CEOs from three major Wall Street banks plan to discuss cryptocurrencies before the U.S. Congress this week. CitiGroup, JPMorgan Chase, Wells Fargo, Goldman Sachs, Morgan Stanley and Bank of America are set to appear before the Senate Banking committee today and...
As Cryptocurrency Gathers Steam, The IRS Moves To Tackle Virtual Currency Tax Evasion Earlier this week, Eth logged its first loss after trading at $3,779.81 for the first time. Investors of the second-largest cryptocurrency will be celebrating as they enjoy increasing gains - just like cryptocurrency investors across the globe. Recently, CNBC’s Jim Cramer shared that he had repaid his...
The exchange made the move on the heels of a series of crackdown notices from Bejing in recent weeks. Cryptocurrency exchange Huobi said it has scaled back or suspended some of its services and products in certain countries and has stopped its miner hosting services in mainland China in response to the recent crackdown on crypto in that country. News...
China’s reiterated crypto ban sharpens the focus on the financial sector. China’s crypto warning on Tuesday may look similar to previous notices. However, it conveys a pointed message to commercial banks and payment companies that have been friendly to crypto-related businesses. The National Internet Finance Association of China, the China Banking Association and the Payment and Clearing Association of China...
Elon Musk and COVID-19 have something in common: They have both panicked investors — at least once — into dumping their Bitcoin (BTC) holdings. The similarities notched up higher in the previous six days as Musk doubled down on his chaos-inducing perspective toward Bitcoin. The billionaire entrepreneur engaged in a Twitter spat with top cryptocurrency advocates over the weekend, including...
Ether, the second biggest cryptocurrency by market capitalization, is positioned to log its first weekly loss since the end of March, as its price, along with that of larger sibling bitcoin, are in the red on Saturday. At press time ether’s changing hands at $3,779.81, down 8.48% in the past 24 hours, according to CoinDesk 20. Meanwhile bitcoin, the No....
DeFi is booming and institutions are edging towards it, trying to figure out how to get a slice of the alpha. U.S. hedge fund giants Millennium Management, Point72 Asset Management and Matrix Capital Management are all at varying stages of standing up cryptocurrency-focused trading funds, according to three people with knowledge of the plans. Not only are these traditional hedge...
Ether (ETH), the native cryptocurrency of the Ethereum network, passed the market cap milestone of $500 billion Wednesday morning. Ether's total value climbed as high as $505 billion before pulling back slightly, according to CoinMarketCap data, surpassing financial behemoths JPMorgan ($480 billion) and Visa ($496 billion). The milestone came as the cryptocurrency's price hit an all-time high of $4,371, per...
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