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Like tech stocks, bitcoin sometimes benefits from low interest rates and improved market liquidity, which can lead to better sentiment and greater investment in growth assets. Stock Chart Icon Stock chart icon Bitcoin turns higher after two days of losses"There has been an inverse relationship between rates and bitcoin price," said Oppenheimer executive director Owen Lau. "When the Fed increased interest rates in 2022, it took out liquidity from the market, which impacted bitcoin and tech stocks. When the Fed cuts rates, it provides liquidity to the market, which should benefit risky assets such as bitcoin. The Dow Jones Industrial Average , S&P 500 and Nasdaq Composite all closed at record highs after the Fed meeting wrapped up.

Persons: Bitcoin, cryptocurrency, Cryptocurrencies, Oppenheimer, Owen Lau, It's, Ether, Solana, dogecoin, MicroStrategy, CleanSpark, bitcoin, We've, Vijay Ayyar Organizations: Getty, Metrics, Federal, Polygon's, Iris Energy, Marathon, JPMorgan, Dow Jones, Nasdaq, CNBC

☆ Bitcoin resumes its rally, ripping through $54,000 for the first time since December 2021
▼ + stars: | 2024-02-26 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

The price of bitcoin shot above the $54,000 level on Monday after waking up from a week of tepid trading. At its session high, bitcoin hit $54,965.26 and reached its highest level since December 2021. "Today is settlement day for bitcoin futures, which is contributing to the price jump we're seeing," said Ryan Rasmussen, analyst at Bitwise Asset Management. "We're approaching the window where we typically see traders positioning themselves ahead of the bitcoin halving, which will happen in the second half of April. Bitcoin traded flat in the week leading up to Monday, when the breakout began, and put it on track for a 27% monthly gain.

Persons: cryptocurrency, bitcoin, Ryan Rasmussen, Ether, Solana, Polygon's, Microstrategy, Bitcoin, Owen Lau, Oppenheimer, JPMorgan's Nikolaos Panigirtzoglou Organizations: Metrics, Bitwise Asset Management, JPMorgan, CNBC PRO Locations: —

☆ Ether takes center stage as bitcoin heads into one of its strongest months
▼ + stars: | 2024-01-31 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

Ether is ready to take the limelight in the month ahead after bitcoin and newly-launched bitcoin ETFs dominated crypto investor attention in January. Both bitcoin and ether are on pace to finish the month higher by nearly 2%, according to Coin Metrics. As investors came to expect slow, steady flows into bitcoin through newly institutionalized ETFs in coming months, ether and altcoins have been ready for a breakout. February is a historically strong month for both bitcoin and ether. The SEC is due to give decisions on spot ETH ETF applications beginning in May.

Persons: Darius Tabatabai, Bitcoin, Jeff Dorman, Ethereum, Dorman, Jason Urban, bitcoin, they've, Polygon's, — CNBC's Michael Bloom Organizations: Metrics, ETH, Securities and Exchange Commission, SEC, BlackRock, Standard Chartered, Solana, Arca, Galaxy Locations: U.S, bitcoin, Invesco, Solana

Zhao Changpeng, founder and chief executive officer of Binance, speaks at the Blockchain Week Summit in Paris, France, on Wednesday, April 13, 2022. Binance chief Changpeng Zhao will plead guilty to criminal charges and step down as the company's CEO as part of a $4.3 billion settlement with the Department of Justice, according to court documents. The plea arrangement with the government resolves a multi-year investigation into the world's largest crypto exchange. The Securities and Exchange Commission targeted the company with an expansive lawsuit in June, alleging that Binance was running an illegal securities exchange and mishandling customer funds. To this day, Binance remains the world's largest crypto exchange globally, processing billions of dollars in trading volume every year.

Persons: Zhao Changpeng, Changpeng Zhao, Zhao, Brian Tsuchida, Binance, Kraken, Gary Gensler, wasn't, Samuel Lim, —, ada, Kevin Breuninger Organizations: Department of Justice, Justice Department, DOJ, Emergency Economic, U.S, CNBC, Securities and Exchange Commission, Commodity Futures Trading Commission, Securities, Exchange Commission, SEC, Binance, Authority Locations: Paris, France, U.S, Seattle, Iran, Cayman Islands

☆ Solana surges amid altcoin rally, nearly triples its price over the past month
▼ + stars: | 2023-11-15 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

The price of the Solana token jumped Wednesday amid an ongoing rally in altcoins and bullish remarks on the token from famed tech investor Cathie Wood. It has nearly tripled in price in the past month. "Ether was faster and cheaper than bitcoin [back] in the day – that's how we got ether. Activity on Solana has been growing all year, particularly in liquid staking protocols like Jito, according to data provider Kaiko. Solana is up about 510% this year and has been one of the best performing cryptocurrencies of 2023.

Persons: Cathie Wood, Solana, CNBC's, Wood, altcoins, outpacing, Polygon's, XRP, bitcoin, Mikołaj Zakrzowski, blowup, Sam Bankman, Fried Organizations: Ark, CNBC, CNBC PRO, Solana Locations: altcoins, Solana

☆ Altcoins are finally joining the current bitcoin rally as crypto investors turn risk-on
▼ + stars: | 2023-11-11 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Altcoins were in rally mode this week after lagging bitcoin in its recent climb to new 2023 highs. Bitcoin and ether have been separate from this trend recently, with more investors appearing to treat them as a safety trade compared to smaller, riskier altcoins. "Historically we've seen bitcoin rally, then Ethereum, then alts, and that pattern seems to be repeating as this bull market heats up," he said. "We see as a more likely scenario existing capital shifting from existing bitcoin products such as the Grayscale bitcoin trust, bitcoin futures ETFs and publicly listed bitcoin mining companies, into the newly-approved spot bitcoin ETFs," he said. He also said that bitcoin ETFs already exist in Canada and Europe but haven't garnered much interest from investors since their inception.

Persons: Altcoins, bitcoin, Polygon's, Bitcoin, Rob Ginsberg, Ginsberg, altcoins, – it's, It's, Ryan Rasmussen, Mike Novogratz, JPMorgan's Nikolaos Panigirtzoglou, haven't, Panigirtzoglou, — CNBC's Michael Bloom Organizations: Solana, ADA, ETH, Wolfe Research, Treasury, Bitwise Asset Management, Galaxy Digital, JPMorgan Locations: Canada, Europe

☆ Crypto market bounces off recent sell-off, bitcoin rises to $26,500
▼ + stars: | 2023-08-23 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin rose more than 2% to $26,517.09. The crypto market move higher coincided with gains in the major stock averages. "Add in summer trading volumes, and you have a recipe for day-to-day volatility. Crypto has been suffering since the spring from low liquidity and thin trading volumes, which has exacerbated moves on both the upside and the downside. "The correlation between equity indices and bitcoin has declined to near zero in 2023," said Sam Callahan, lead analyst at Swan Bitcoin.

Persons: Cryptocurrencies, Bitcoin, Ether, Cardano's, Callie Cox, Jerome Powell, Crypto, Sam Callahan Organizations: Federal, Swan Locations: Jackson Hole , Wyoming, Jackson

☆ Cryptocurrencies fall to begin August, bitcoin dips under $29,000
▼ + stars: | 2023-08-01 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Ether , which has joined bitcoin in recent months as a sort of large cap, blue-chip trade in crypto, was down by 1.4%, after finishing July down by 3.35%. It was under extra pressure due to a recent exploit in DeFi giant Curve, however. Whenever investors hear the word hack ... it puts the whole crypto market on the backfoot and that's what's happening here," Gilbert said. Bitcoin volumes have also dropped significantly from their recent highs and have failed to reclaim them despite the price of bitcoin showing so much resilience this year. "When bitcoin heads south so do most altcoins ... and they're selling off a little bit further given what we're seeing with Curve."

Persons: bitcoin, Josh Gilbert, Altcoins, Ripple's, XRP, Aave, We've, Gilbert Organizations: Metrics, SEC, Binance, Solana, Polygon's, Finance, ERC, Blackrock ETF Locations: DeFi, Blackrock

☆ Polygon's Rebecca Rettig highlights 'big demand' for platform's blockchain use case database
▼ + stars: | 2023-07-27 | by ( Talia Kaplan | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPolygon's Rebecca Rettig highlights 'big demand' for platform's blockchain use case databaseRebecca Rettig, chief legal officer at Polygon Labs, provides an update on the platform's "Value Prop" database, which lays out use cases for blockchain technology. She also weighs in on the recent Ripple XRP ruling and discusses Polygon's proposal to upgrade MATIC into a multipurpose token for all chains.

Persons: Rebecca Rettig Organizations: Polygon Labs, MATIC

☆ Cryptocurrencies head for a winning week after sharp rally fueled by Ripple court decision
▼ + stars: | 2023-07-14 | by ( Tanaya Macheel | ) www.cnbc.com time to read: 1 min

Cryptocurrencies headed for a winning week after a court decision Thursday fueled a sharp, broad crypto market rally. Bitcoin is on pace to end the week higher by about 3%, according to Coin Metrics, and on pace to finish above $30,000. Ripple's XRP led the rally after a judge in the Southern District of New York ruled that it's a security in some cases but not others. XRP is on track to end the week with a 65% gain. The token tied to Solana is up 30.5% for the week, Cardano's ada has gained 21% and Polygon's matic token in on track to finish 25% higher.

Persons: Cryptocurrencies, Ripple's XRP, Cardano's ada Organizations: Metrics, of, Solana, Polygon's Locations: Southern, of New York

In this photo illustration, a visual representation of the digital Cryptocurrency Ripple is displayed on January 30, 2018 in Paris, France. Ripple's XRP token went up 68% in the last 24 hours, leading a wider rally of major-cap altcoins, as crypto traders digest a key ruling that could stifle U.S. regulator efforts to stamp out digital asset trading. All four tokens were recently singled out as securities in the U.S. Securities and Exchange Commission's formal suits against popular crypto retail trading exchanges, including Binance and Coinbase . But the Thursday summary judgement from U.S. District Judge Analisa Torres calls that classification into question. Ripple maintained that its token is not a security — triggering ongoing confusion over which digital coins fall into which regulatory bucket.

Persons: Ripple's, Algorand's, Analisa Torres, Brad Garlinghouse, Renato Mariotti, Bryan Cave Leighton Organizations: U.S . Securities, Exchange, District, SEC, Labs, San, U.S . Southern, of New, U.S . Justice Department's Securities, Commodities Locations: Paris, France, San Francisco, U.S, of New York, Chicago

☆ XRP coin surges after judge delivers a huge win to Ripple in its case against the SEC
▼ + stars: | 2023-07-13 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Ripple's XRP token surged more than 30% at one point on Thursday after a judge in the Southern District of New York ruled that it's "not necessarily a security on its face." The price of XRP was last higher by 28.90% at about 60 cents a coin, according to Coin Metrics. The news gave hope to crypto investors, who breathed a sigh of relief that other altcoins may not be considered securities either. Polygon's matic token gained 11%, while litecoin and the token tied to Solana jumped 8%, and Cardano's token advanced 7%. "Also, it will likely have an important impact on the Binance and Coinbase lawsuits."

Persons: Ripple's, XRP, Cantor Fitzgerald's Elliot Han Organizations: of, Metrics, Solana, CNBC Locations: Southern, of New York, U.S

☆ Bitcoin drops below $25,000, Tether's stablecoin falls under its dollar peg
▼ + stars: | 2023-06-15 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Standard Chartered predicts that bitcoin could fall to $5,000 in 2023 as part of their research on potential market surprises next year. Cryptocurrency prices fell after the Federal Reserve's June meeting, with bitcoin falling below $25,000 for the first time since March. On Thursday, bitcoin was lower by around 4% at $24,866.92, according to Coin Metrics, while ether fell more than 5% to $1,632.47. And selling pressure weighed on Tether (USDT), which lost its peg to the U.S. dollar on most exchanges Thursday, falling to 99 cents in its biggest drop since November. "Given how thin trading volumes are at the moment, a sizable (but not massive) sell order is enough to set off liquidations."

Persons: bitcoin, Altcoins, Polygon's, Cardano's, Stocks, Michael Safai Organizations: Chartered, Federal, Metrics, U.S, Federal Reserve

☆ Crypto prices stabilize after plunging on SEC crackdown jitters
▼ + stars: | 2023-06-12 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

The Binance website on a laptop arranged in the Brooklyn borough of New York, US, on Wednesday, June 7, 2023. The list of digital tokens deemed as unregistered securities by the Securities and Exchange Commission now spans over $120 billion of crypto after the US agencys lawsuits against Binance Holdings Ltd. and Coinbase Global Inc. The SEC sued Coinbase and Binance last week, accusing both of selling unregistered securities, among other charges. On Tuesday, the U.S. regulator alleged that Coinbase was operating as an unregistered exchange and broker, and that 13 assets listed on its platform were considered crypto asset securities. On Monday, it also accused Binance of inflating trading volumes, diverting customer funds and misleading customers about its controls, among others.

Persons: Gabby Jones, Coinbase, Ripple's XRP, Binance's, Binance Organizations: Securities and Exchange Commission, Binance Holdings, Coinbase Global Inc, Bloomberg, Getty, U.S . Securities, Exchange Commission, SEC, Polygon's Locations: Brooklyn, New York, U.S

☆ Bitcoin and ether stand ground this week while altcoins tumble on the SEC's Coinbase crackdown
▼ + stars: | 2023-06-10 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Coinbase shares fell more than 17% over the course of the week. The market cap of crypto 'securities' fell CryptoQuant's "SECurities" index fell about 14% following the lawsuit, while the market cap of bitcoin and ether has basically remained flat. JMP noted that in the "securities" the SEC named, bitcoin and ether, which represented 55% of Coinbase's trading volume in the first quarter, were excluded. Coinbase saw outflows of about 20 million of Polygon's matic token Tuesday afternoon, trading at about 73 cents by the end of the week. The popular gaming token Axie Infinity, trading at about $6, saw outflows of about 32,000 coins Monday afternoon.

Persons: Coinbase, Bitcoin, Jefferies, They're, Binance Organizations: SEC, Securities and Exchange Commission, Metrics, U.S, Sports Locations: U.S, Solana, Cardano, Coinbase

☆ Crypto tokens plunged this week after Gensler stepped up SEC's industrywide crackdown
▼ + stars: | 2023-06-09 | by ( Ari Levy | ) www.cnbc.com time to read: +2 min

SEC Chair Gary Gensler stepped up his attack on the crypto industry this week, suing Coinbase and Binance for securities violations and casting doubt on the future of token trading. They include Solana's SOL token, Cardano's ADA token, Polygon's MATIC coin and Protocol Labs' Filecoin token (FIL). "No other coins are affected and your crypto is still safe on Robinhood," the company said in a post. Binance's BNB token, ranked fourth, fell 16%. "The investing public has the benefit of U.S. securities laws," Gensler said in an interview with CNBC's "Squawk on the Street" on Tuesday.

Persons: Gary Gensler, Coinbase, Crypto.com, Binance's, Biden, Sam Bankman, Gensler, CNBC's Organizations: U.S . Securities, Exchange Commission, Banking, Housing, Urban Affairs, SEC, CNBC, ADA, Labs, Polygon, Solana Locations: Cardano, Solana

☆ Crypto tokens plunged this week after Gensler stepped up SEC crackdown
▼ + stars: | 2023-06-09 | by ( Ari Levy | ) www.cnbc.com time to read: +2 min

SEC Chair Gary Gensler stepped up his attack on the crypto industry this week, suing Coinbase and Binance for securities violations and casting doubt on the future of token trading. In alleging that Coinbase was acting as an unregistered broker and exchange, the Securities and Exchange Commission said at least 13 crypto assets available to the company's customers were considered "crypto asset securities." They include Solana's SOL token, Cardano's ADA token, Polygon's MATIC coin and Protocol Labs' Filecoin token (FIL). Binance's BNB token, ranked fourth, fell 16%. "The investing public has the benefit of U.S. securities laws," Gensler said in an interview with CNBC's "Squawk on the Street" on Tuesday.

Persons: Gary Gensler, Coinbase, Crypto.com, Binance's, Joe Biden, Sam Bankman, Gensler, CNBC's Organizations: U.S . Securities, Exchange Commission, Banking, Housing, Urban Affairs, SEC, CNBC, Securities and Exchange Commission, ADA, Labs, Polygon, Solana Locations: Cardano, Solana

☆ Bitcoin rises after SEC sues Coinbase alleging it acted as an unregistered broker
▼ + stars: | 2023-06-06 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Cryptocurrency prices were slightly higher Tuesday after the Securities and Exchange Commission sued crypto services provider Coinbase. On Tuesday, the SEC filed a lawsuit in New York federal court alleging that Coinbase has been acting as an unregistered broker and exchange. The news came one day after the SEC alleged that Binance, the largest crypto exchange in the world by volume, and its co-founder, Changpeng Zhao, violated securities laws. Since January, the SEC has charged Kraken, Genesis and Gemini Trust with offering unregistered securities to investors. It also issued a Wells Notice to Coinbase earlier this year warning the company of potential securities charges.

Persons: Bitcoin, Ether, Coinbase, Gary Gensler, Polygon's, Binance, Changpeng Zhao, Matt Hougan Organizations: Securities and Exchange Commission, Coinbase, Metrics, SEC, Solana, . U.S, Gemini Trust, Bitwise Asset Management, CNBC Locations: New York, .

☆ A Meta exec quit after 11 years to join Web3 at the peak of its hype. Here's why she's staying through a crypto winter.
▼ + stars: | 2022-10-26 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +6 min

Ex-Meta marketing exec Jennifer Kattula quit after 11 years to "take the leap" into Web3. The call piqued her interest and she began to research crypto and Web3 — both still nascent industries. Former Meta marketing executive Jennifer Kattula, now senior vice president of marketing at Polygon. Interest in Web3 and crypto was peaking, with bullish investors pouring a record $30 billion into crypto ventures that year. But Kattula's first foray into crypto did not go smoothly, and she left Celsius after less than six months in April 2022.

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