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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...
The second-largest digital asset doesn't look to be stopping its meteoric rise anytime soon. Ether (ETH) eclipsed $4,000 for the first time on May 10, passing the psychologically significant barrier on multiple exchanges including Coinbase. The new milestone comes just a week after breaking $3,000. Last week, ETH overtook Bank of America as the 28th largest asset in the world....
The opportunity could be substantial for an already fast-growing crypto industry with a current market capitalization currently around $2.3 trillion. All assets will eventually be tokenized, from stocks to bonds to commodities. At least that’s the perspective of many crypto-industry executives who predict that most, if not all, of modern finance will eventually run on digital rails. Just put it...
A bill seeking to “pause” crypto mining for three years in New York was referred to the state's Environmental Conservation committee on May 3. Crypto miners in New York may be subject to a forced three-year hiatus if the latest environmentally-focused bill passes in the state senate. The New York Senate Bill 6486 was proposed by Democrat senator Kevin S....
Ether's milestone comes surging trader interest in the leading smart-contracts blockchain. Ether (ETH), the second-largest cryptocurrency by market capitalization, went above $3,200 Monday for the first time in history, according to CoinDesk 20, after setting multiple all-time highs last week. The native token of Ethereum's blockchain clocked a record high of $3,201 during the European hours, having crossed above the...
JPMorgan has identified three reasons why ETH is superior to BTC. And ETH has broken another historic record. The ETH price is already almost $3k!
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