Latest news with #CryptoWeekly
Yahoo
22-05-2025
- Business
- Yahoo
Crypto Weekly: Attack anger and Coinbase's cyberattack fallout
STORY: From anger in France... To a DoJ investigation into Coinbase. This is Crypto Weekly. :: Crypto Weekly :: Fear and anger in France French crypto bosses have reacted with fear and anger after a series of violent kidnappings. Some have stepped up security, while others are calling for a tougher crackdown. As well as deregulation to keep the crypto paper trail more anonymous. In the latest incident on May 13, a masked gang tried to abduct the daughter of Pierre Noizat, the CEO of the French crypto firm Paymium. The recent attacks have led some crypto execs to take extra security measures. Alexandre Aimonino is cofounder of cryptocurrency compliance firm Seqlense. "I don't go to certain crypto meetings anymore where I had the habit to go before. I try to park as close as possible to the destination when I have to go somewhere; that's this kind of security measure. When I go home, I never take the same road or the same path. Just to avoid being followed by anyone. :: Hong Kong's stablecoin bill Hong Kong has passed a stablecoin bill that establishes a licensing regime for fiat-referenced stablecoin issuers in the city. Any person who issues stablecoins in Hong Kong - or issues stablecoins backed by Hong Kong dollars, whether within or outside the city - must obtain a license. Hong Kong has been stepping up efforts to enhance the city's competitiveness as a global digital asset hub. Stablecoins are a type of cryptocurrency designed to maintain a constant value, usually pegged to a currency. And are commonly used by crypto traders to move funds between tokens. :: Bitcoin's recovery The price of Bitcoin rose to its highest level on record on Wednesday, eclipsing the previous high from January. On Thursday it rose for the fifth-straight session reaching $111,862. The world's most valuable cryptocurrency is recovering from the tariff-induced selloff last month. :: Coinbase cyberattack The U.S. Department of Justice has opened a probe into a recent breach at the world's largest cryptocurrency exchange Coinbase Global. The company said it expects a hit of up to $400 million from the cyberattack. Last week it said it received an email from an unknown threat actor on May 11. They claimed to have information about certain customer accounts as well as internal documents.
USA Today
07-05-2025
- Business
- USA Today
US stock futures rise on news of China-US trade talks
US stock futures rise on news of China-US trade talks Show Caption Hide Caption Crypto Weekly: Family fortunes and GameStop's pivot GameStop's crypto pivot GameStop shares were back in action as the company's move to hoard bitcoin brought retail investors back to the meme stock. U.S. stock futures point to a higher open on news China and the U.S. will begin trade talks later this week in Switzerland. The Treasury and U.S. Trade Representative's office said Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer would travel together to Geneva on May 8 to meet with China's top economic official. Discussions will center around de-escalation, an initial step seen towards trade talks. The meeting is the first one confirmed between the countries since President Donald Trump announced tariffs as high as 145% on China that were met with retaliatory rates of 125% from Beijing. Escalating rhetoric between the two countries have roiled markets and added much uncertainty to the economy. So, opening talks will likely be a relief to investors. The U.S. pair will also meet with Swiss President Karin Ketter-Sutter to discuss negotiations over reciprocal trade. At 6:40 a.m. ET, futures linked to the blue-chip Dow rose 0.60%, while broad S&P 500 futures added 0.53% and Nasdaq futures gained 0.51%. Fed meets Investors also look forward to the outcome of the Fed's policy meeting at 2 p.m. ET. No rate move is expected, but people will be keen to hear what Fed Chair Jerome Powell thinks of the economy, inflation, jobs and tariffs. Most economists expect him to say the Fed will keep rates steady until it can get a clearer picture of where tariff rates might settle and for how long. A wait-and-see approach may spur criticism from Trump, who's been calling for the Fed to lower rates immediately. "'The Federal Reserve appears dead set to keep policy unchanged on Wednesday, with chair Powell set to defy pressure from the White House and signal that the FOMC (Federal Open Market Committee) is in no rush to lower rates again," said Matthew Ryan, Head of Market Strategy at global financial services firm Ebury. "President Trump's tariffs have added considerable uncertainty to the path ahead for U.S. rates. While the growth outlook has undoubtedly worsened, the resilience of the labour market and the significant inflationary pressures brought about by the tariffs suggests that the Fed will adopt a more balanced approach to policy." Company news Super Micro Computer missed expectations for the third fiscal quarter and gave a weak outlook for the current three-month period. Advanced Micro Devices' quarterly results missed analysts's forecasts. Wynn Resorts reported disappointing results for the first three months of the year. Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@ and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday.
Yahoo
17-04-2025
- Business
- Yahoo
Crypto Weekly: Amazon outage impacts Binance, Bhutan mines 'green'
STORY: From seized crypto in China. To 'green' mining in Bhutan. :: Crypto Weekly This is Crypto Weekly. :: China's seized crypto China's growing pile of cryptocurrencies seized from illegal transactions is prompting local governments to find ways of disposing the hoard. And is spurring calls from courts and the financial industry for better regulation. Lawyers say the lack of rules around how authorities should handle seized bitcoin and other tokens has spawned inconsistent approaches. And some fear this could embolden lawbreakers and foster corruption. Crypto trading is banned on the mainland. :: Crypto investors 'sidelined' Outflows from Bitcoin ETFs in the U.S. surged last week as trade war concerns gripped the market. According to data from SoSoValue - the 12 Bitcoin ETFs saw outflows of over $700 million - a more than 300% increase from the week before. Peter Chung from Presto Research told Reuters that this wasn't a surprise. :: Peter Chung, Head of Research, Presto Research "I think similar to what we are seeing in the traditional finance market, there is generally a risk of trade happening in the crypto space as well. For the time being unless we get some more clarity on how the growth outlook is going to look like in the midst of all these tariff negotiations, I think people will generally stay sidelined on investment in risk-on-assets that includes crypto ETFs as well." :: Amazon's outage Crypto exchange Binance said it briefly stopped allowing users to withdraw from the platform on Tuesday. It was due to an issue involving an Amazon Web Services data center. A spokesperson for Binance said withdrawals were suspended for around 23 minutes. :: Bhutan turns to 'green' crypto The Himalayan nation of Bhutan is exploring ways to mine and leverage green cryptocurrencies using hydropower. Its sovereign wealth fund says it could boost its economy and create jobs to reduce brain drain. Green cryptocurrencies are mined using clean energy resources such as wind, hydro or solar power.
USA Today
07-04-2025
- Business
- USA Today
Bitcoin sinks below $80,000 as tariff sell-off intensifies
Bitcoin sinks below $80,000 as tariff sell-off intensifies Show Caption Hide Caption Crypto Weekly: Family fortunes and GameStop's pivot GameStop's crypto pivot GameStop shares were back in action as the company's move to hoard bitcoin brought retail investors back to the meme stock. Bitcoin prices fell below a key psychological threshold on Monday as a global financial markets sell-off intensified. The cryptocurrency traded at $79,019 Monday mid-afternoon, down a little more than 2% and recovering some of its earlier losses. It is now down about 15% for the year so far. Crypto prices surged after the November election. President Donald Trump pledged to cut some regulation and create a strategic bitcoin reserve. While Bitcoin, and cryptocurrencies more broadly, were developed as an alternative to traditional asset classes, they tend to be traded in line with other 'risk assets,' like riskier stocks. Over the past week, the Nasdaq Composite index, which tracks technology and other growth stocks, is down about 9%.
USA Today
01-04-2025
- Business
- USA Today
Here's how smart investors evaluate their cryptocurrency investments
Here's how smart investors evaluate their cryptocurrency investments Show Caption Hide Caption Crypto Weekly: Family fortunes and GameStop's pivot GameStop's crypto pivot GameStop shares were back in action as the company's move to hoard bitcoin brought retail investors back to the meme stock. Investing in cryptocurrencies is a distinct but related discipline to investing in stocks and other financial instruments. Though it's fully possible to apply most of the same principles you use for thinking about your stocks to your cryptos — like, for example, comparing your coin's performance to the SPDR S&P 500 ETF Trust (NYSEMKT: SPY) or an index — the best crypto investors have a slightly different approach. So let's explore what they're doing to evaluate how effective their various investments are, because it will be a good tool to have in your investing toolbox. You'll find that it's quick and easy enough to do it the same way. Be sure to compare performance against the right assets When you invest, it's key to appreciate whether the assets you select are outperforming something that would take less effort to do, like just investing in an index fund with holdings that mirror the entire market. If you invest in Bitcoin (CRYPTO: BTC) and have no desire to invest in other cryptocurrencies, that's perfectly fine. But once you have a diversified crypto portfolio containing coins like Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL), not to mention tokens hosted on those or other chains, comparing against the stock market doesn't really make as much sense because it's a collection of a very different set of assets that don't perform in the same way. Take a look at this chart showing the performance of these coins against the market over the last three years: Notice anything about the shapes that the lines form? The cryptocurrencies have price action that appears to be similar to one another, yet quite distinct from the stock market's significantly less volatile performance. That's because the cryptocurrencies are highly correlated with one another, and specifically, they're highly correlated with the price action of Bitcoin. The reasons for those correlations are numerous, but the main point is that once money is somewhere on a blockchain, it's usually cheaper to move that money between blockchains than it is to move it back into fiat currency. And, since Bitcoin is by far the largest cryptocurrency, when its price moves upward, it generates a wealth effect that, on average, causes more liquidity to flow into altcoins like Ethereum and Solana, among many others. That makes their prices go up. Of course, there is a weaker relationship of the same type between the stock market and the crypto sector. But when you're trying to figure out how your investments are doing relative to the benchmark, it makes far more sense to compare your coins to the performance of Bitcoin, because it's the easiest investment in the crypto sector to make by default. Plus, it's easy to overthink and invest in something riskier than Bitcoin, only to underperform it, much like how it's easy to select poor individual stocks and underperform the market. Use the same principles to evaluate tokens There's another idea that's worth understanding, and it pertains to evaluating tokens hosted on a chain. If you're buying a token and you want to benchmark its performance, comparing it to Bitcoin can work — at least you'll be comparing apples to apples in terms of the asset's general volatility. But the better move is to compare tokens to the main coin of the chain they're on. If your token isn't performing better than the chain where it lives, it might be worthy of cutting, since whatever investment thesis you have developed for it probably isn't working. So, for example, if you buy a decentralized finance (DeFi) token on Ethereum or Solana, you should be examining whether it outperforms just holding Ethereum or Solana, which would be the lower-hanging fruit in terms of the effort you would need to put into finding and analyzing the investment. At the end of the day, benchmarking in this way is just the easiest approach to evaluating how your crypto investments are doing. It doesn't have to be the only way. Just keep in mind that overcomplicating your research process is often a way to find the conclusions that you want to find rather than the most financially relevant facts. Alex Carchidi has positions in Bitcoin, Ethereum and Solana. The Motley Fool has positions in and recommends Bitcoin, Ethereum and Solana. The Motley Fool has a disclosure policy. 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