NEW YORK—Cybercriminals laundered $8.6 billion in cryptocurrencies last year, up 30 percent from 2020, according to a report from blockchain analysis firm Chainalysis released on Wednesday. Overall, cybercriminals have laundered more than $33 billion worth of crypto since 2017, Chainalysis estimated, with most of the total over time moving to centralized exchanges. The firm said…
IMF Urges El Salvador to Drop Bitcoin as Official Currency
The International Monetary Fund (IMF) has urged El Salvador to drop the status of Bitcoin as the country’s legal tender, citing a series of risks, including to financial stability. The IMF’s cautionary remarks about the Central American country using Bitcoin as its official currency alongside the U.S. dollar came in a review note following a…
Dogecoin Surges After Elon Musk Urges McDonald’s to Accept It as Payment
The price of Dogecoin rose on Tuesday after Elon Musk urged McDonald’s to start accepting the cryptocurrency as a form of payment, stating that he would “eat a happy meal” if the fast food restaurant company does so. “I will eat a happy meal on tv if Mcdonald’s accepts Dogecoin,” the chief executive of Tesla wrote on Twitter on…
The ‘Death’ of Bitcoin, Ethereum? Why These Analysts Think a 50 Percent Downturn for Crypto Can Be Shrugged Off
Loup Funds analysts Gene Munster and Dough Clinton—touching upon the recent cryptocurrency crash that plummeted valuations of Bitcoin and Ethereum—said that “crypto is here to stay.” What Happened In a recent discussion, Munster noted that the downturn in the prices of Bitcoin was sharper compared with the tech-stock-heavy Nasdaq. Munster said the volatility in cryptocurrencies “scares…
Wall Street Heads Lower as Fed, Ukraine Capture Investor Attention
LONDON/WASHINGTON—U.S. stocks continued their downward trend on Tuesday, opening sharply lower as safe havens gained ground amid investor nerves about tensions between Russia and the West and the prospect of the U.S. Federal Reserve tightening monetary policy soon. All three major U.S. indices opened trading down at least 1 percent, resuming a sharp selloff that…
Dollar Rises on Ukraine Crisis as Investors Await Fed Meeting
The dollar rose to a two-week peak on Tuesday as tensions between Russia and the West over Ukraine drew investors to safe-haven currencies while awaiting the outcome of this week’s U.S. Federal Reserve policy meeting. Russia said it was watching with great concern after the United States put 8,500 troops on alert to deploy to…
How Did Ethereum’s Vitalik Buterin Vaporize $6.7 Billion Worth of Shiba Inu?
Vitalik Buterin, the co-founder of the Ethereum blockchain, recently described how he burned close to $6.7 billion in Shiba Inu. During a recent interview on the UpOnly Podcast, Buterin said that in May 2021 anonymous developers sent him 505 trillion SHIB tokens, which were worth $8 billion at the time. According to Buterin, the developers did this because…
You Ask, We Analyze: Will Baby Dogecoin Be Able to Avoid Breaking Down From This Key Pattern?
On Monday morning, Benzinga asked its followers on Twitter what they’re buying at the open. From the replies, Benzinga selected one ticker for technical analysis. @Maithin53351931, @aedfr3214 and @ChengDuEdison are buying Baby Dogecoin (Crypto: BABYDOGE). Unlike apex cryptocurrencies Bitcoin and Ethereum, which have been declining for months following their Nov. 10 respective $68,789.63 and $4,867.81…
Bitcoin Plummets to 6 Month Low
Bitcoin has fallen to its lowest value in six months, bottoming out at $33,046 on Monday morning, before rebounding slightly to over $36,000 by mid-afternoon. For six out of the last seven days, the leading cryptocurrency has declined in value, bringing its total market cap to a little over half of its historic high last November….
Ukraine Tensions Lift Dollar, Yuan Holds Firm
LONDON—The dollar rose to a two-week high on Monday against a basket of currencies, lifted by the tension between Russia and the West over Ukraine and the possibility of a more hawkish stance from the Federal Reserve this week. Markets were until recently not fretting about the massing of Russian troops on Ukraine’s borders, but…
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