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Cryptocurrency Market

Bitcoin drops 14%, falling below $24,000 as $200 billion wiped off crypto market over the weekend

[CNBC, Getty Images] KEY POINTS Bitcoin tumbled below $24,000 late on Monday, hitting its lowest level since December 2020, as investors dump crypto amid a broader sell-off in risk assets.Meanwhile, a crypto lending company called Celsius has paused withdrawals for its customers, sparking fears of contagion into the broader market.Macro factors are contributing to the […]

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TerraUSD collapse will ‘probably be the end’ of most algorithmic stablecoins, crypto exec says

[CNBC, Getty Images] TerraUSD or UST, is an algorithmic stablecoin which was supposed to be pegged to the U.S. dollar. But it lost its dollar peg, collapsed and sent shockwaves through the crypto market.Reeve Collins, co-founder of BLOCKv and co-founder of another stablecoin tether, said the terraUSD debacle will “probably be the end” of so-called […]

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He thought he was logging in to his cryptocurrency account. Then hackers stole his life savings.

[NBC NEWS] A few days before Christmas last year, Philip Martin sat in front of his computer to check his cryptocurrency balance. It was the beginning of what would become, for him, an ongoing nightmare. Martin told NBC News he thought he was typing the web address for his cryptocurrency exchange, Coinbase, the biggest and best-known company […]

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Inside plans for luxurious ‘crypto paradise’ island where the super rich could call home in 2023

[The Sun, Satoshi Island] AN island that promises to be a ‘crypto paradise’ is being built in the South Pacific in a nation called Vanuatu and citizenship costs $130,000 (£99,000). Citizenship for the island comes in the form of an NFT and all payments on the island will be made in crypto. NFTs may be […]

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Crypto offshoot DeFi throws up new risks for investors, global regulators say

[Reuters] Decentralised finance – or DeFi – is throwing up new risks for investors as it evolves to mirror traditional markets, a global body for securities regulators said on Thursday, adding to a chorus of warnings about the fast-growing crypto offshoot. So-called DeFi platforms allow users to lend, borrow and save in digital assets, bypassing […]

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10 Cryptocurrencies To Buy and Hold for the Next 10 Years

[Insider Monkey, iStock Photo] Blockchain is The Future The world is headed towards a digital transformation, with the metaverse, NFTs, and cryptocurrencies being all that is talked about. At the very center of these future technologies is blockchain. According to the Blockchain Technology Market Report 2022, the global blockchain market was valued at $4.93 billion in […]

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Goldman Sachs Makes History With First-Ever OTC Crypto Trade

[Entreprenuer, Getty Images] The trade was made with crypto merchant bank Galaxy Digital. Crypto certainly doesn’t seem to be going anywhere — in fact, it looks like using digital currency might become even more mainstream than originally anticipated. From U.S. president Joe Biden signing the first-of-its-kind executive order for federal agencies to begin exploring regulatory practices for […]

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Coinbase Faces $5M Class Action Lawsuit Alleging Dogecoin And 78 Other Crypto Tokens Are ‘Unlicensed Securities’

[Benzinga] Coinbase Global Inc (NASDAQ: COIN) has been slapped with a class-action lawsuit that alleges the cryptocurrency exchange is operating as an unregistered securities bourse. What Happened: A complaint filed with the Southern District Court of New York on March 11 alleges that Coinbase is selling 79 cryptocurrencies that are unregistered securities. The three plaintiffs named several popular large-cap cryptocurrencies […]

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Japan orders crypto exchanges to comply with sanctions against Russia

[CNN, Reuters] Japanese authorities ordered crypto exchanges on Monday not to process transactions involving crypto assets subject to asset-freeze sanctions against Russia and Belarus over the war in Ukraine. The step was taken after a Group of Seven (G7) statement on Friday that said Western nations “will impose costs on illicit Russian actors using digital […]

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Bitcoin surges after Biden signs executive order on cryptocurrencies

[New York Post, Getty Images] Bitcoin surged by more than 9% on Wednesday after President Biden signed an executive order directing federal agencies to look into regulations for cryptocurrency — a sign that the world’s most powerful economy is moving toward embracing digital coins. Treasury Secretary Janet Yellen said the effort would “promote a fairer, […]

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