Bitcoin miners hit by crypto crash as prices drop June 16, 2022 The recent crypto rout has hit bitcoin miners hard as prices of Bitcoin and other cryptocurrencies plunged. Miners have cut back on producing more Bitcoin as falling prices reduced the money they made for successfully mining the cryptocurrency. Mining involves using powerful computers to solve complicated puzzles that provide miners with new Bitcoin. The total [...]
Restricting CBDCs could stifle UK innovation, BofE adviser June 16, 2022 A member of the Bank of England’s digital currency forum has warned that hampering the development of a central bank backed digital currency (CBDC) could stifle innovation in the UK. Jess Houlgrave, who sits on the Bank of England’s CBDC Engagement Forum, which advises Threadneedle Street on the development of a CBDC, told City A.M. [...]
Sam Bankman-Fried criticises lack of international coordination on crypto June 16, 2022 The founder of crypto exchange platform FTX called out the lack of global cooperation on crypto regulation. Sam Bankman-Fried said today that most countries were approaching crypto regulation on their own, and that there was a need for a globally harmonised approach. Speaking at a Financial Times conference on Thursday, the FTX CEO said the [...]
Crypto crash to get worse with deeper price drops as a multibillion-dollar hedge fund struggles to survive June 15, 2022 The price of leading cryptocurrencies continued to plummet today, with industry experts warning that the “crypto winter” could last for years. Bitcoin dropped about 3.87 per cent per cent today to $21,392.46 trade at $, while Ether fell 3.73% per cent to $1162.52. Bitcoin is now down near 70 per cent from it’s all-time high of [...]
Coinbase to cut staff by 18 per cent as it warns of crypto winter June 14, 2022 Crypto exchange Coinbase will lay off 18 per cent of its workforce as it warned of a recession and a crypto winter. Coinbase CEO Brian Armstrong said the decision was based on the need to manage expenses and increase efficiency as the company looked to “stay healthy during this economic downturn”. “We appear to be [...]
Terrible Tuesday for Bitcoin as crypto tumbles 20 per cent in just two days with investors fleeing risk June 14, 2022 The price of bitcoin fell by another 10 per cent overnight, hitting an 18-month low of $20,834.70, before recovering to trade around $22,700 by 9am UK time this morning. In sterling terms, bitcoin is now trading around £18,665. Discussing the violent movements with City A.M. this morning, Adrian Lowery, financial analyst at DIY investing platform [...]
Michael Owen gets a red card from UK advertising watchdog over crypto tweets June 9, 2022 Michael Owen broke the law after promoting an unlicensed cryptocurrency casino to the public on Twitter earlier this year.
£24,000 per ticket to attend original ‘Wolf of Wall Street’ crypto event June 7, 2022 The original Wolf of Wall Street, whose blockbuster memoir about his explosive career in high finance was the inspiration for the 2013 movie starring Leonardo DiCaprio, is co-hosting an exclusive two-day cryptocurrency event in London this month costing one Bitcoin - around a whopping £24,000 - to attend.
Binance hits back at claims it’s a ‘hub for hackers, fraudsters and drug traffickers’ June 6, 2022 Binance, the world’s largest cryptocurrency exchange, has brushed aside claims it is a “hub for hackers, fraudsters and drug traffickers,” after a Reuters investigation accused the Cayman Islands registered firm of serving as a “conduit for the laundering of at least $2.35bn in illicit funds”. In a blog post responding to Reuters’ article, the coin [...]
Crypto tokens and crypto coins: what drives performance? May 18, 2022 | City Talk Much of the crypto world is, by definition, cryptic and difficult to understand. But two crypto trends are crystal clear: both talent and money are flooding into the digital currency market. Almost every day brings a fresh announcement about software developers from Google or financiers from JPMorgan joining crypto start-ups. Indeed, while the total market [...]