Galaxy Digital Second-Quarter Net Loss Widens as Crypto Market Retreats
The crypto market pulled back from the first-quarter's record highs during the three-month period.
Montenegro court approves extradition of cryptocurrency mogul Do Kwon to native South Korea
A Montenegrin appeals court on Thursday upheld a ruling by a lower court to hand over a South Korean mogul known as “the cryptocurrency king” to his native country, rejecting a bid to extradite him to the United States. The move follows a months-long legal saga in the case of Do Kwon, the Terraform Labs founder who was arrested in Montenegro last year. Both South Korea and the U.S. had requested Do Kwon’s extradition from Montenegro.
Ape Finance sends BAYC to the top of the daily NFT market
The Bored Ape Yacht Club collection tops daily NFT sales, Ethereum blockchain sees big volume bump.
Montenegro to Extradite Do Kwon to South Korea, Rejecting U.S. Request
Kwon has been in custody in the Balkan country since March 2023, when he was arrested for using a fake passport en route to Dubai.
Bitcoin and Ethereum Prices Plunge on Recession Fears as Liquidations Spike
The crypto market is bleeding red as of late Friday afternoon, with major assets like Bitcoin and Ethereum plunging by 5% or more following a rough U.S. jobs report that also spooked the stock market—and prompted fears of an impending recession. The price of Bitcoin fell well under $62,000 on Friday, dipping as low as $61,308 per data from CoinGecko. It's back up to just above $62,000 as of this writing, but is still down about 5% on the day from a 24-hour peak of $65,505. Meanwhile, Ethereum fe...
GameStop Kills 33-Year-Old Gaming Magazine as Stock Price Sinks
GameStop’s stock has weathered a rough week, and things only got worse on Friday as the broader stock market felt the pain from a series of rough economic reports that suggested the United States might be headed for recession. And it came on the same day as the video game retailer killed off an iconic industry brand. On Friday, the long-running video game industry magazine Game Informer announced that it had immediately shuttered after 33 years, with both the print and web versions of the public...
Why Bitcoin Could Benefit as a Potential Recession Looms
A series of disastrous economic results published on Friday has onlookers believing the United States economy is quickly spiraling into recession. But while the news initially coincided with a dip in the price of crypto assets, analysts say that a weaker U.S. dollar could ultimately benefit Bitcoin over the long term. The stock market tumbled Friday following the poor reports, with Bitcoin and other major cryptocurrencies following suit. Bitcoin’s price briefly jumped to $65,400 but then fell sh...
US Could ‘Pay Off Our Debt With Bitcoin’, Says Donald Trump
Donald Trump just doubled down on his big presidential Bitcoin campaign, potentially planning to do more with the asset than he told the crowd at the Bitcoin conference. Beyond establishing a “strategic Bitcoin stockpile,” the candidate suggested using the leading digital asset to make America solvent again. “Who knows, maybe we’ll pay off our $35 trillion [in debt],” Trump said during an interview with Maria Bartiromo of FOX Business on Thursday. “Hand ‘em a little crypto check, right? We’ll ha...
Bitcoin Mining Difficulty Peaks as BTC Price Falls
Bitcoin’s price might have taken a hit as of late, but there is one metric that is still impressive: mining difficulty. Data from BTC.com shows that Bitcoin difficulty hit a new all-time high on Wednesday at 90.67 trillion hashes. Hashing is a mathematical function performed by Bitcoin miners as part of the process of securing the blockchain. The higher the difficulty, the more computing power—and energy—needed to do the work. The record-high difficulty has “significantly reduced margins for pub...
Morgan Stanley Advisors Given Go-Ahead to Pitch Bitcoin ETFs to Investors
Investment behemoth Morgan Stanley on Friday said it will soon permit its financial advisors to actively promote Bitcoin ETFs to eligible clients, marking the first time a major Wall Street bank has taken such a step. Starting next Wednesday, the firm's vast network of approximately 15,000 financial advisors will be authorized to pitch shares in BlackRock's iShares Bitcoin Trust and Fidelity's Wise Origin Bitcoin Fund to suitable investors. CNBC first reported the news. A source familiar with th...