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☆ Hong Kong debuts spot crypto ETFs
▼ + stars: | 2024-04-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHong Kong debuts spot crypto ETFsThis will be the first time in Asia that retail investors have a chance to trade cryptocurrency exchange-traded funds at spot prices.

Persons: Hong Kong Organizations: Hong Locations: Asia

☆ Even as He Faces Prison Time, Binance’s Founder Plans a Comeback
▼ + stars: | 2024-04-30 | by ( David Yaffe-Bellany | Cade Metz | ) www.nytimes.com time to read: +1 min

And he chatted about start-ups with Sam Altman, the chief executive of OpenAI. After pleading guilty to a money-laundering violation in November, Changpeng Zhao, the founder of the cryptocurrency exchange Binance, did not sit still. A federal judge denied his request to return home to Dubai, but Mr. Zhao, 47, was free to roam the United States. When he pleaded guilty, Mr. Zhao, once the most powerful figure in the global crypto industry, resigned as Binance’s chief executive and agreed to pay a $50 million fine. But Mr. Zhao, who goes by the initials CZ, is already looking to the future.

Persons: Sam Altman, Changpeng Zhao, Zhao, Forbes Organizations: OpenAI Locations: Montana, U.S, Telluride, Colo, Moab , Utah, Dubai, United States, Seattle

☆ Bitcoin showing similarities to small caps as it struggles to break through $70,000, says Wolfe Research
▼ + stars: | 2024-04-26 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

"Bitcoin continues to demonstrate its inability to successfully get through that stubborn $70k resistance level," Wolfe's Rob Ginsberg said in a note Wednesday. "It reminds us of another group that has been unable to overcome its own resistance level ... small caps," he continued. Now, bitcoin has retested its highs while small caps have barely proved they can stay above $2,000 in [the Russell 2000 ]." BTC.CM= .RUT 6M mountain Bitcoin and Russell 2000 Bitcoin has been meandering in the $60,000 level since the beginning of March. All of the major stock indexes are down for the month, and the small-cap Russell 2000 is tracking for a deeper loss of about 6%.

Persons: Bitcoin, Rob Ginsberg, bitcoin, Russell, Ginsberg, Michael Bloom Organizations: Wolfe Research, Federal Reserve

☆ A 'buy bitcoin' sign flashed behind Janet Yellen during a 2017 hearing just sold for $1 million
▼ + stars: | 2024-04-25 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

A"Buy Bitcoin" sign held up behind Janet Yellen during a 2017 testimony just sold for over $1 million. Christian Langalis, a then-22-year-old intern who held the sign, decided to sell it to fund his crypto startup. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA sign with "Buy Bitcoin" written in all caps on cheap yellow legal pad that was held up behind Janet Yellen during a 2017 congressional hearing was just sold at auction for over $1 million. According to Bloomberg on Thursday, the "Buy Bitcoin" sign held by an intern during then-Federal Reserve Chair Janet Yellen's 2017 Congressional testimony went for $1.027 million at auction.

Persons: Janet Yellen, Christian Langalis, Bitcoin, —, Janet Yellen's, Yellen, CoinDesk Organizations: Service, Bloomberg, Federal, Libertarian, Cato Institute, Financial Services Locations: City

☆ 2 founders of a crypto mixer charged with laundering funds from the dark web
▼ + stars: | 2024-04-25 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +2 min

The cofounders of crypto mixer Samourai Wallet were charged with money laundering. The service anonymized hundreds of millions of dollars for dark web criminals, prosecutors said. AdvertisementThe cofounders of a cryptocurrency mixing service called Samourai Wallet — which rendered crypto transactions anonymous — have been arrested and charged with money laundering, according to an indictment unsealed Wednesday. Rodriguez and Hill were charged with conspiracy to commit money laundering and conspiracy to operate an unlicensed money transmitting business. Related storiesThe Samourai Wallet website has been seized.

Persons: Samourai's cofounders, —, — Keonne Rodriguez, William Lonergan Hill —, Rodriguez, Hill, James Smith, haven't Organizations: Service, Prosecutors, Southern, of, FBI Locations: of New York, Portugal, DMs

Nvidia Eddie George picked chipmaker darling Nvidia for its long-term prospects. Oracle shares are up roughly 9% this year. Apple George selected Apple for his second pick. Faced with waning demand and rising competitive pressures, Apple stock has shed nearly 12% this year, making it a weak link among the "Magnificent Seven" tech cohort. The company's legacy of sustainable excellence has also paved the way for cutting-edge technology like Apple Pay and the Apple Watch.

Persons: gunning, Breanna Stewart, Stewart, Mark Zuckerberg, Nvidia Eddie George, George, Jensen Huang, Charlotte Flair, Flair, Oz Pearlman, bitcoin, Pearlman, It's, Caterpillar's, Ekeler, Schulman, Carter, Microsoft Jillian Michaels, Giancarlo Chersich, Michaels, Nancy Pelosi's, Oracle Joey Chestnut, Larry Ellison, Wall, DraftKings, Karen Finerman, Apple George, Apple, DraftKings Eddie George, Apple Charlotte Flair, IBM Oz Pearlman, Carvana Austin, Intel Nev Schulman, Crocs Jillian Michaels, Google Joey, Starbucks Kenny, Smith Organizations: Meta, Nvidia, Tennessee Titans, Tennessee State University, Computer WWE, Computer, Micro, IBM, bitcoin, Caterpillar, Washington, Microsoft, Oracle, FactSet, CNBC, Apple, Apple Watch, Intel, JPMorgan Druski, Nike, Google, Starbucks, Warner Bros, Delta Air Locations: American, Nashville

☆ Standard Chartered doubles down on its prediction that bitcoin will reach $150,000 by the end of the year
▼ + stars: | 2024-04-25 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Bitcoin is set for more price gains later this year, even after a recent retreat in prices, according to Standard Chartered's top crypto analyst. Geoffrey Kendrick, head of foreign exchange research, West, and digital assets research at Standard Chartered, said in a research note this week that he sees bitcoin rising to $150,000 per coin, and ether hitting $8,000 by the end of 2024 — doubling down on a bullish prediction from the bank earlier this year. Bitcoin temporarily sank below $60,000 last week as traders reacted to news of an escalating military conflict between Iran and Israel. Also, large long liquidations over the past couple of weeks mean that market positioning is a lot cleaner," Kendrick said. "As a result, with Middle East tensions easing I think it is time to re-engage in medium-term longs."

Persons: Geoffrey Kendrick, Kendrick, Bitcoin, bitcoin, That's Organizations: Standard Chartered, BTC, ETH, Securities and Exchange Commission, Treasury, HK Locations: Israel, Iran, United States, U.S

☆ U.S. prosecutors seek 36-month sentence for ex-Binance CEO Changpeng Zhao
▼ + stars: | 2024-04-24 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Changpeng Zhao, founder and CEO of Binance, attends the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris on June 16, 2022. U.S. prosecutors are seeking an above-guidance sentence of 36 months for the former CEO of cryptocurrency exchange Binance on charges of enabling money laundering, according to a sentencing memorandum out late Tuesday. The memorandum, which was filed with the court for the western district of Washington, states that Zhao should serve a higher sentence that suggested under advisory guidelines to "reflect the gravity of his crimes." Under advisory guidelines, Zhao's sentencing would come in at a range of 12 to 18 months in prison. "A custodial sentence of 36 months—twice the high end of the Guidelines range—would reflect the seriousness of the offense, promote respect for law, afford adequate deterrence, and be sufficient but not greater than necessary to achieve the goals of sentencing," U.S. prosecutors said.

Persons: Changpeng Zhao, Zhao, —, Binance Organizations: Viva Technology, Porte de, U.S, Bank, U.S . Securities, Exchange Commission, Commodity Futures Trading Commission Locations: Porte, Paris, Washington, U.S

☆ Binance Founder Should Get Three Years in Prison, Prosecutors Say
▼ + stars: | 2024-04-24 | by ( David Yaffe-Bellany | ) www.nytimes.com time to read: +1 min

Changpeng Zhao, the founder of the giant cryptocurrency exchange Binance, should go to prison for three years after breaking the law “on an unprecedented scale” and pleading guilty to a money laundering violation, federal prosecutors wrote in a court filing on Wednesday. Defense lawyers countered in their own memo that Mr. Zhao, 47, should receive no prison time and face a sentence of probation, arguing that he had accepted responsibility for his crime and showed a commitment to philanthropy. A federal judge in Seattle, Richard A. Jones, is set to evaluate those dueling recommendations at a sentencing hearing for Mr. Zhao on Tuesday. His sentencing will be the latest landmark in a series of criminal prosecutions that have targeted some of the most powerful figures in the global cryptocurrency industry. Now Mr. Zhao faces his own prison sentence after cutting a deal with prosecutors in November, admitting that he failed to set up an adequate system at Binance to prevent money laundering.

Persons: Changpeng Zhao, Zhao, Richard A, Jones, Sam Bankman Locations: Seattle

☆ Philippines orders removal of Binance from Google and Apple app stores
▼ + stars: | 2024-04-23 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

The Philippines' Securities and Exchange Commission (SEC) has ordered Google and Apple to remove cryptocurrency exchange Binance from their app stores. In a press release out on Tuesday, the regulator said it had sent letters to Google and Apple requesting the removal of applications controlled by Binance from the Google Play Store and Apple App Store, respectively. The agency accused Binance of offering unregistered securities to Filipinos and operating as an unregistered broker, adding that this violates the country's securities laws. Binance, Google, and Apple were not immediately available for comment when contacted by CNBC. Aquino said that blocking Binance from the Google and Apple app stores would help "prevent the further proliferation of its illegal activities in the country, and to protect the investing public from its detrimental effects on our economy."

Persons: Zhao Changpeng, Binance, Emilio Aquino, Aquino Organizations: Viva Technology, Porte de, Securities and Exchange Commission, SEC, Google, Apple, Binance, CNBC Locations: Porte, Paris, France, Philippines, Philippine

☆ Bitcoin after the halving: What's next for the cryptocurrency
▼ + stars: | 2024-04-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin after the halving: What's next for the cryptocurrencyKathleen Breitman, Tezos Blockchain co-founder, joins 'Squawk Box' to discuss the bitcoin market after the cryptocurrency achieved its fourth ever halving on Friday.

Persons: Kathleen Breitman, Tezos Blockchain

☆ Stocks making the biggest moves before the bell: Tesla, Verizon, Block, Alcoa and more
▼ + stars: | 2024-04-22 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Li Auto , Tesla — The electric vehicle makers tumbled more then 7% and 3%, respectively, following announcements of price cuts. Tesla chopped down the sticker price of its Model 3 in China, on top of decreases in other markets Reuters reported . Verizon — The telecommunications giant traded 1.5% higher as earnings per share came in ahead of expectations. Block — Shares added 0.7% after Bank of America reiterated its buy rating on the financial services stock. Hut 8 — Shares gained 2.6% after Benchmark initiated coverage of the data center operator with a buy rating, citing Hut 8's diversified business model and its sizeable bitcoin holdings.

Persons: Li Auto, Tesla, Li, Xpeng, JPMorgan Chase, Morgan Stanley, —, Lisa Kailai Han, Hakyung Kim, Sarah Min Organizations: Tesla, Reuters, Verizon, FactSet, Wall Street, JPMorgan, Marathon, Alcoa, Bank of America Locations: China, New York

☆ Crypto prices gain to start the week following first Bitcoin halving since 2020
▼ + stars: | 2024-04-22 | by ( Tanaya Macheel | ) www.cnbc.com time to read: 1 min

Bitcoin rose slightly to start the week after the network on Friday completed its fourth ever halving, which reduces the incentives paid to bitcoin miners. The price of the cryptocurrency was last higher by 1.8% at $65,891.28, according to Coin Metrics. Shares of public cryptocurrency miners got a lift premarket Monday, after rallying into the close Friday before the halving, which took place later that day. The biggest miners, Marathon Digital and Riot Platforms , gained about 3% and 5%, respectively. CleanSpark and Iris Energy increased 3% and 4%, respectively.

Persons: CleanSpark Organizations: Metrics, Marathon, Iris Energy

☆ Bitcoin's next gen tokens are here. Inside the Silicon Valley hacker house where 17 coders helped build the new memecoin market
▼ + stars: | 2024-04-22 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +10 min

Magic Eden coders gathered in an Airbnb in San Jose, California, to hack in preparation for the so-called bitcoin halving. Their goal was to spend a week hacking to prepare for the so-called bitcoin halving — an event that is baked into the chain's code and helps to stave off inflation through programmatic monetary policy. watch nowTechnically speaking, runes just enables asset issuance of fungible tokens on bitcoin's base chain. The reason this is significant to developers is because of its efficiency relative to existing BRC-20 tokens, bitcoin's widely-used fungible token standard that has already received a ton of traction. "There's definitely been an awakening of capital interest in the bitcoin layer two space," said Muneeb Ali, who co-founded Stacks — an open-source blockchain network that brings smart contracts to bitcoin.

Persons: Eden coders, Amil Husain, Magic Eden, Bitcoin, Eden's, Zedd Yin, Eden's coders, Yin, blockchain, Casey Rodarmor, Rodarmor, Casey, Nic Carter, Bill Barhydt, bitcoin, Barhydt, I've, Carter, PitchBook, There's, Muneeb Ali, Ali, Christopher Calicott, Amil Husain DeFi, Hong Fang, Fang, Goldman Sachs, Stacks's Ali Organizations: East Foothills, Fighter, Engineers, solana, Island Ventures, Venture, CNBC, Magic Eden, Austin, Trammell Venture Partners, Labs, Ribbit Capital Locations: San Jose , California, U.S, Northern California, solana, ethereum, Abra, bitcoin, San Jose, Bitcoin

☆ Sketches from US animation studios found on North Korean computer server
▼ + stars: | 2024-04-22 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +11 min

The revelation comes from a trove of documents recently discovered by US researchers inside a computer server housed in North Korea. Logs from the North Korean computer server showed multiple visits from internet connections in northeast China, the US cybersecurity firm Mandiant told CNN. North Korean leader Kim Jong Un inspects an artillery firing drill of the Korean People's Army on March 7, 2024. Barnhart, the Mandiant researcher, said any company that hires a North Korean IT worker runs the risk of being targeted by North Korean hackers because of the close relationship between the two. Heinz Insu Fenkl, an expert in North Korean comics, said that animation and comics have been prominent in North Korean society since the country’s founding in 1948.

Persons: “, Nick Roy, Roy, Mandiant, Michael Barnhart, ”, Max ., Hannah Cosgrove, ” Cosgrove, Max, Lion Forge, Martyn Williams, Williams, ” Williams, Kim Jong Un, KCNA, Barnhart, ” Barnhart, CNN wouldn’t, Heinz Insu Fenkl, ” Fenkl, CNN’s Alex Marquardt, Mike Conte Organizations: CNN, North, US, Amazon Prime, Max, Warner Bros ., Korean, Stimson, FBI, Treasury, North Korean, Entertainment, Amazon, ”, Skybound, YouNeek Studios, Forge Entertainment, Lion Forge Entertainment, South Korean, South, US Treasury Department, Treasury Department, Korean People's Army, State, United Nations, North Korean Embassy Locations: North Korea, Korean, Boston, Washington, State, North Korean, China, CNN , California, Maryland, South Korea, Koreans, Pyongyang, Korea, California, New York, London, cybercrime

☆ Ready or not, the youngest boomers are retiring
▼ + stars: | 2024-04-22 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

AdvertisementThe majority of so-called "peak boomers" have $250,000 or less in assets , according to a recent report, write Juliana Kaplan and Ayelet Sheffey. If you're a bit surprised by the dire economic situation of peak boomers, I wouldn't blame you. Older boomers had the benefit of employer-subsidized retirement plans before a shift in the workforce left younger boomers to fend for themselves. Alistair Berg/Getty ImagesPeak boomers' retirement struggles might end up being a wake-up call for younger generations. There will be plenty of lessons learned from peak boomers entering retirement without the safety net of a pension.

Persons: —, blowup Jacob Wackerhausen, Jenny Chang, Rodriguez, Juliana Kaplan, Ayelet Sheffey, that's, we've, boomers, Alistair Berg, Xers, Gen Zers, Bryan Erickson, Jane Street, Chowdhury, Elon Musk, they'd, Tesla, Tony Stubblebine, Nick Little, Dani Widell, BI's Emily Stewart, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Business, Service, Social Security, Security, Google, Wall Street, JPMorgan, Detroit Police Department, Tesla, BI, Verizon Locations: Covid, China, Europe, Airbnb ., America, New York, London, Chicago

☆ Currencies calm but cautious after a weary week
▼ + stars: | 2024-04-22 | by ( ) www.cnbc.com time to read: +3 min

U.S. one hundred dollar bills are being shown in this picture illustration taken in Buenos Aires, Argentina, on Dec. 15, 2023. Eyes are on the yen this week, with the Bank of Japan's, or BOJ, Friday policy review the notable item on the economic calendar. The yen has been one of the biggest losers against the dollar this year, with losses mounting to 9%. The ECB's Robert Holzmann, however, said the ECB probably will not cut rates this year as much as planned if the Fed does not move. BoE Governor Andrew Bailey and Deputy Governor Dave Ramsden alluded last week to Britain's inflation slowing as expected.

Persons: Chris Weston, Weston, Kazuo Ueda, BoE, ECB policymaker Madis Muller, Christine Lagarde, Robert Holzmann, BoE Governor Andrew Bailey, Dave Ramsden, Sterling, Bitcoin Organizations: U.S ., Bank of Japan's, Federal Reserve, Monetary Fund, Bank, Washington , Bank of Japan, European Central Bank, Bank of England, ECB policymaker, ECB, Treasury Locations: Buenos Aires, Argentina, East, Tehran, Iran, Washington, United States, Japan, South Korea, Washington ,, U.S

☆ How Scam Calls and Messages Took Over Our Everyday Lives
▼ + stars: | 2024-04-21 | by ( Steven Kurutz | ) www.nytimes.com time to read: 1 min

You check your inbox and discover dozens of spam emails that made it past the filter. Tapping over to Instagram, you find a request for a supposed brand collaboration in your DMs. Your WhatsApp notifications, meanwhile, consist solely of strangers asking you to invest in a cryptocurrency exchange. While scrolling social media on your lunch break, you see Tom Hanks promoting a dental plan and Taylor Swift peddling a cookware giveaway. (Or at least that’s what seems to be going on.)

Persons: Tom Hanks, Taylor Swift Organizations: LinkedIn, Fortune Locations: Instagram

AdvertisementDonald Trump enters his first criminal trial every day flanked by lawyers, court officers, Secret Service members, and political advisors. AdvertisementFormer President Donald Trump speaks alongside his wife, former first lady Melania Trump, during a rare joint appearance as they arrived to vote in Florida's primary election. Bederow explained that Melania Trump's courtroom support could be "potentially very powerful" given the salacious nature of the hush-money case against Trump. Danilewitz said Trump's defense team may have a different strategy in mind when it comes to Melania Trump. If Trump's family does decide to show up Monday, they might want to wear sweaters.

Persons: Donald Trump's, —, Donald Trump, Melania Trump, Giorgio Viera, Mark Bederow, Bederow, Melania, I'm, Trump, Stormy Daniels, Daniels, Jill Huntley Taylor, Huntley Taylor, they're, he's, Julia Vitullo, Martin, Trump's, it's, Sam Bankman, Fried, Ghislaine Maxwell, Jeffrey Epstein, Jane Rosenberg Melania Trump, Jean Carroll, Carroll, Justin Danilewitz, Brendan McDermid, Arthur Aidala, Rudy Giuliani, Harvey Weinstein, It's, That's, Aidala, Danilewitz, Todd Blanche, Susan Necheles, Emil Bove, Gedalia Stern —, Steven Cheung, Jason Miller, Margo Martin, Natalie Harp, Clifford Robert, Donald Trump ., Ivanka Trump, Eric Trump, Donald Trump Jr, Donald Jr Organizations: Service, Secret Service, Getty, Trump, Prosecutors, Vera Institute of Justice, REUTERS, AP, Former Brooklyn, New, Trump Organization, Melania Trump, New York Times Locations: Manhattan, New York

☆ Bitcoin miners brace for impact as halving goes live
▼ + stars: | 2024-04-21 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +17 min

The technical event is relatively simple: Bitcoin miners get paid in bitcoin to validate transactions, and after 210,000 blocks of transactions are computed and added to the main chain, the reward given to the miners securing bitcoin is 'halved.' The aggregate market cap of the 14 U.S.-listed bitcoin miners tracked by JPMorgan analysts declined 28% over the first half of April to $14.2 billion, reaching year-to-date lows. Some have billed the 2024 bitcoin halving as a seminal moment for the mining sector. Marathon, along with other mining firms, has begun diversifying its business model into ancillary operations beyond purely bitcoin mining. Sullivan continued, "Bitcoin mining sites can only be repurposed if they meet the attributes that are required for HPC.

Persons: AUSTIN , TEXAS — Adam Sullivan, bitcoin, Sullivan, they'll, it's, Core's Sullivan, Bitdeer, Needham, Haris Basit, Basit, Cantor Fitzgerald, Greg Beard, Beard, Bitdeer's, Jason Les, Les, Fred Thiel, Capex, Thiel, Stronghold's Beard, Nic Carter, Blackrock, Bill Barhydt, Barhydt, Island's Carter isn't, Carter, CoinShares Organizations: bitcoin, CNBC, JPMorgan, Cipher, Bitdeer Technologies, Mining, Miners, Riot, Island Ventures, Circuits, Nvidia, CoreWeave, Bitcoin, HPC Locations: AUSTIN , TEXAS, Texas, bitcoin, U.S, Rockdale , Texas, Singapore, Bitcoin, Hong Kong, Abra, Europe, Dalton , Georgia, North America

☆ How a Jack Dorsey-backed bitcoin miner uses a volcano in Kenya to turn on the lights in rural homes
▼ + stars: | 2024-04-20 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +9 min

watch nowHELL'S GATE, Kenya — Two-and-a-half hours northwest of Nairobi by car, a small group of bitcoin miners set up shop at the site of an extinct volcano near Hell's Gate National Park. "That doesn't happen without the bitcoin miners and us being globally distributed." MacKenzie SigalosWherever the operation, bitcoin mining is a volatile business, because so much of the economics depends on the price of the cryptocurrency. Before getting into bitcoin mining, he and his two co-founders, Philip Walton and Janet Maingi, spent years building internet connectivity infrastructure in rural and urban Africa. Demand from bitcoin miners on these semi-stranded assets is making renewables in Africa economically viable.

Persons: Jack Dorsey's, MacKenzie Sigalos, Erik Hersman, Bitcoin, Gridless, Lake Naivasha, bitcoin, Adam Sullivan, Philip Walton, Janet Maingi, Michael Gottschalk, Nic Carter, Carter, Hersman, It's, it's Organizations: CNBC, Kenyan, Core, Deutsche Bank, Marathon, United Arab, Getty, Island Ventures, Miners, International Energy Agency Locations: Kenya, Nairobi, Lake Naivasha, Malawi, Zambia, Venezuela, Lebanon, Gate, Lake, U.S, Texas, Russia, China, America, Africa, Toronto, Argentina, Florida, United Arab Emirates, Paraguay, Hersman, Sudan, Iceland, El Salvador, Bhutan

☆ Kraken CEO David Ripley talks bitcoin's halving and what it means for the crypto space
▼ + stars: | 2024-04-19 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKraken CEO David Ripley talks bitcoin's halving and what it means for the crypto spaceDavid Ripley, Kraken CEO, joins 'Fast Money' to talk the bitcoin halving and what's ahead for the cryptocurrency.

Persons: David Ripley

☆ Bitcoin just completed its fourth-ever 'halving,' here’s what investors need to watch now
▼ + stars: | 2024-04-19 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Dado Ruvic | ReutersThe Bitcoin network on Friday night slashed the incentives rewarded to miners in half for the fourth time in its history. JPMorgan said it expects to see some downside in bitcoin post-halving and Deutsche Bank said it "does not expect prices to increase significantly." However, the impact may be bigger months from now, even if bitcoin continues its trend of diminishing returns from its halving day to its cycle top. "This process, known as mining, rewards miners with newly minted bitcoins. But with each halving, the reward to mining is decreased to maintain scarcity and control the cryptocurrency's inflation rate over time."

Persons: Dado Ruvic, bitcoin, Mark Palmer, Matthew Galinko, Marion Laboure Organizations: JPMorgan, Deutsche Bank, Miners

☆ The Bitcoin network completes the fourth-ever ‘halving’ of rewards to miners
▼ + stars: | 2024-04-19 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

watch nowThe Bitcoin network on Friday evening completed its fourth "halving," reducing the rewards earned by miners to 3.125 bitcoins from 6.25. After the 2012, 2016 and 2020 halvings, the bitcoin price ran up about 93x, 30x and 8x, respectively, from its halving day price to its cycle top. Hash rates are a measure of the computational power used to process transactions on the bitcoin network. "The market so far has seen bitcoin mining stocks as mere BTC proxies, in absence of bitcoin ETFs," said Bernstein analyst Gautam Chhugani. "[The] Bitcoin halving is already partially priced in by the market and we do not expect prices to increase significantly following the halving event," the firm's Marion Laboure said in a note Thursday, adding that it "has been widely anticipated in advance due to the nature of the Bitcoin algorithm."

Persons: Reginald Smith, Bernstein, Gautam Chhugani, MARA, Nikolaos Panigirtzoglou, Marion Laboure Organizations: Metrics, JPMorgan, BTC, IRIS, Deutsche Bank Locations: Friday's

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin rises to $64,000 in the final hours before the halving: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Crypto World explores the bitcoin halving's impact on the cryptocurrency's price and why some think this halving will be different from those in the past.

Persons: explainers Organizations: CNBC Crypto, CNBC

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