Texas has turned into a mecca for Bitcoin and other cryptocurrency miners over the last year. It might not appear to be a likely location for virtual token mining, but crypto professionals and billions of dollars in capital are flooding the southern state. This has led to a growing number of cryptocurrency communities across the…
Euro Jumps After Hawkish Comments From ECB’s Lagarde
The euro jumped against the dollar on Thursday after comments from ECB president Christine Lagarde fuelled expectations of faster monetary policy tightening, although the central bank confirmed its guidance for interest rates and its bond purchase program. Lagarde acknowledged that inflation was running hotter than expected and with risks tilted to the upside, but continued…
Hackers Make Off With More Than $320 Million in Stolen Cryptocurrency From Wormhole Network
Hackers have stolen about $320 million in cryptocurrency from Wormhole, a communication bridge linking Solana with other decentralized finance (DeFi) blockchain networks, its developers confirmed on Wednesdаy. In a series of Twitter posts, developers said hackers had made off with 120,000 wETH, or wrаpped Ethereum; the equivalent of nearly $324 million in cryptocurrency—making it the second-largest DeFi hack to date….
Dollar Falls Further From High; Australian Dollar Recovers
LONDON—The dollar fell again on Tuesday, while risk-sensitive currencies such as the British pound gained and the Australian dollar recovered from an overnight drop. After falling nearly 5 percent in January, world equities started February slightly firmer and currency markets have also changed course. After hitting a 19-month high last week, the U.S. dollar index…
Crypto Analyst Justin Bennett Says Bitcoin Will Break above $40,000 by Monday
Cryptocurrency analyst and trader Justin Bennett says Bitcoin BTC looks poised to rally above $40,000 before the month comes to a close on Monday. “If Bitcoin can break above these highs, right around $37,500, if we do get that breakout, I think we see $40,000, potentially up to $42,000 here over the next few days,…
Cybercurrency Exchange FTX’s Valuation Hits $32 Billion Despite Downturn in Crypto Market
The cryptocurrency exchange FTX announced on Jan. 31 that it saw its valuation swell to $32 billion, after it had raised $400 million from investors including SoftBank, in a new round of funding. Other investors in this fundraising round include Singapore’s Temasek Holdings Tiger Global and the Ontario Teachers’ Pension Plan Board, according to FTX….
Dollar Consolidates Gains as US Yield Curve Continues to Flatten
LONDON—The U.S. dollar consolidated gains on Monday after hitting a 1–1/2 year high on Friday as the Treasury yield curve extended a three-week flattening streak following hawkish comments by a Federal Reserve official. With the Fed clearly signaling its intent to raise interest rates as early as March after its meeting last week, money markets…
Celsius CEO Says Bitcoin May Crash Ahead of Massive Rally, Ethereum Heading to New All-Time High
Alex Mashinsky, CEO of crypto lending platform Celsius, says that Bitcoin could fall by up to 20 percent from the current price before surging higher. In a recent interview, Mashinsky said that Bitcoin could follow past precedents and surge by around four times over current levels, after testing the critical support level. “If Bitcoin does what it…
Dollar Races Higher as Markets Brace for Larger, Faster Rate Hikes
LONDON—The dollar soared to its highest levels since July 2020 against other major currencies on Thursday, powered by bets the U.S. Federal Reserve could deliver faster and larger interest rate hikes in the months ahead. A day after the Fed flagged that it was ready to start lifting rates in March to contain inflation, money…
Internal Revenue Service Seeing ‘Mountains of Fraud’ in Cryptocurrencies, NFTs: Special Agent
A special agent from the Internal Revenue Service has warned that non-fungible tokens (NFTs) and cryptocurrencies are highly susceptible to fraud and manipulation as they grow in popularity. Speaking at a virtual event held on Tuesday by the USC Gould School of Law, Ryan Korner from the IRS Criminal Investigation’s Los Angeles field, said that both…
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