Cryptocurrencies steadied on Friday, with bitcoin recovering from a 16-month low after a volatile week dominated by the collapse in value of TerraUSD, a so-called stablecoin. Crypto assets have been swept up in broad selling of risky investments on worries about high inflation and rising interest rates. But broader financial markets have so far seen…
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By Elizabeth Howcroft, Gertrude Chavez-Dreyfuss and Hannah Lang LONDON/NEW YORK (Reuters) – The meltdown in TerraUSD, one of the world’s largest stablecoins, rippled through cryptocurrency markets on Thursday, pushing another major stablecoin Tether below its dollar peg and sending bitcoin to 16-month lows. Cryptocurrencies have been swept up in a sell-off in risk assets, which…
It’s been a long few weeks since the crypto crowd was partying in Miami. Coinbase Global Inc. founder Brian Armstrong had a personal fortune of $13.7 billion as recently as November and about $8 billion at the end of March. That’s now just $2.2 billion, according to the Bloomberg Billionaires Index, after a selloff in…
Coinbase chief executive said a disclosure in its latest quarterly filing did not indicate the largest U.S. cryptocurrency exchange faced a bankruptcy risk, and it had been made to meet a regulatory requirement. Brian Armstrong’s comments on late Tuesday came after the company said in the event of bankruptcy, crypto assets held by the exchange…
The tussle between India’s apex financial institution Reserve Bank of India and the crypto industry is finally out. Brian Armstrong, co-founder and chief executive of Nasdaq-listed Coinbase said the company disabled UPI payment from its platform due to informal pressure from RBI. Armstrong also stated that the RBI and government have been applying soft pressure…
If you’re thinking about buying a home, or already own one, you may be wondering what happens to your mortgage in the event of your death? Unfortunately, your mortgage won’t just disappear. Instead, your provider will turn to your family to maintain repayments. If they can’t keep up with these payments, they may be forced…
The value of Bitcoin continued to fall over the weekend as it dropped below $34,000, according to the Coinbase cryptocurrency exchange, BBC reported. The world’s largest cryptocurrency by market value has now fallen by 50 per cent since its peak in November last year. The slide in the value of digital assets comes as stock…
Bitcoin on Sunday witnessed another round of free fall, slipping below $35,000 per coin, as the global crypto market went through a massive slump of over 4.5 per cent in the past 24 hours to $1.66 trillion. All cryptocurrencies were weighed down as central banks globally tried to control inflation by raising interest rates. Bitcoin…
Finance Minister Nirmala Sitharaman on Saturday flagged anonymity as an “inherent risk” in blockchain technology and called for taking precaution in future with a rise in the use of this technology. The finance minister made it clear that using the distributed ledger technology (DLT), which is also called as blockchain, is absolutely imperative and the…
