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☆ A flood of crypto tokens with names referencing GameStop and famed trader Roaring Kitty have been created in the last 24 hours as developers try to ride a meme-coin resurgence
▼ + stars: | 2024-05-13 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

The social media return of Keith Gill, aka "Roaring Kitty," has sparked a flood of crypto meme tokens. Microcap meme tokens with names like "GME" and "Roar" have soared more than 1,000%. Most of the tokens were created in the past 24 hours as developers try to capitalize on the spike of interest. Another meme token created on the Solana network is "GIL", which was created early Monday morning and soared more than 4,000% on total volume of about $7 million. "ROAR" is another Solana-based meme token that was created Sunday evening and is trading up 1,856% on total volume of about $12 million.

Persons: Keith Gill, —, Keith Gill's, GIL, KITTY, Gill Organizations: Service, Solana, GameStop, AMC Entertainment Locations: Solana

☆ Jamie Dimon calls bitcoin a 'fraud' and a 'Ponzi scheme' — and says the crypto is hopeless as a currency
▼ + stars: | 2024-04-18 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Bitcoin is a "fraud" and "Ponzi scheme" and cannot serve as a currency, Jamie Dimon said. Dimon has dismissed bitcoin as a "pet rock" in the past and slammed it for enabling criminals. AdvertisementBitcoin is a scam and fails as a currency, Jamie Dimon said. "If you mean crypto like bitcoin, I've always said it's a fraud," the JPMorgan CEO told Bloomberg TV on Wednesday. It's a Ponzi scheme," he added.

Persons: Jamie Dimon, Dimon, bitcoin, —, I've Organizations: JPMorgan, Service, Bloomberg

☆ Bitcoin halving is likely this week — here's what you need to know
▼ + stars: | 2024-04-17 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +27 min

And that's, that's the whole idea of it. Tom ChittySo if I go and buy bitcoin, the bitcoin I buy is fresh bitcoin that's been mined, not someone who's selling bitcoin is that right? Arjun KharpalThe likelihood is if you buy bitcoin, if we go on an exchange and buy bitcoin, we're selling bitcoin that's in existence already. And so what they say is, well, with the halving, you know, bitcoin will not be devalued. That's that's really what so many of the enthusiasts and proponents love about it.

Persons: Bitcoin, Tom Chitty, Arjun, we'll, Ethereum, Arjun Kharpal Paris, Kharpal, we've, Arjun Kharpal, Tom Chitty 13,777B, that's, what's, they're, bitcoin, there's, That's, It's, you've, Richard Tang, Richard Teng, I'm, he's, Arjun Kharpal That's, Tom, it's, Tom Chitty That's, I've, Arjun Kharpal It's, they've, Binance, Arjun Kharpal Binance, Changpeng Zhao, cryptocurrency, Jan van Eck, Jean, Marie Mognetti, van Eck, Jan Van Eck, Cathy, Gary Gensler, let's, Tom Chitty Let's, Tom Chitty Oh, There's, Tom Chitty Memecoins, Arjun Kharpal They're, we'd, David Hunt, David, Tom Chitty Poor David, Paris, Tom Chitty We'll Organizations: CNBC, Eurostar, U.S ., Paris, Department of Justice, U.S, CZ, DOJ, SEC, Mr, Gamestop Locations: beyondthevalley@cnbc.com, Paris, CNBC.com, bitcoin, U.S, Abu Dhabi, Binance, Chicago, Pennsylvania, Elmira , New York, NYC , New York City, Syracuse, Elmira, it's

☆ Premarket stocks: Crypto fans got what they wanted. So why is bitcoin falling?
▼ + stars: | 2024-01-25 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

So, why is the price of bitcoin falling, even after investors got what they wanted? Part of the reason is likely a “buy the rumor, sell the news” mentality, according to Antoni Trenchev, co-founder of crypto lender Nexo. Interestingly, bitcoin ETF activity actually shows net buying. Greyscale’s fund is the largest bitcoin ETF, holding roughly $20 billion in assets. ETFs hold just a small portion of the bitcoin that’s traded, says Eric Balchunas, senior ETF analyst at Bloomberg Intelligence.

Persons: cryptocurrencies, bitcoin, Antoni Trenchev, that’s, Eric Balchunas, ”, Bitcoin, FTX, “ We’re, Craig Erlam, vibing, Bryan Mena, Read, It’s, Janet Yellen, Matt Egan, Yellen, Biden Organizations: CNN Business, Bell, New York CNN —, US Securities and Exchange, SEC, Investors, Bloomberg Intelligence, CNN, Economic, of Chicago, Treasury Locations: New York, America, Chicago, Covid

☆ ECB chief Lagarde admits her son lost crypto cash
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +2 min

European Central Bank President Christine Lagarde addresses the European Parliament's Committee on Economic and Monetary Affairs, at the European Parliament, in Brussels, Belgium March 20, 2023. REUTERS/Johanna Geron//File Photo Acquire Licensing RightsFRANKFURT, Nov 24 (Reuters) - No one is a prophet in their own land, including European Central Bank President Christine Lagarde, who admitted on Friday that her son lost "almost all" of his investments in crypto assets, despite copious warnings. Lagarde has long railed against cryptocurrencies, calling them speculative, worthless and a tool often used by criminals for illicit activity. "It wasn't a lot but he lost it all, he lost about 60% of it," Lagarde added. The ECB chief has two sons in their mid-30s but did not say which one she was referring to.

Persons: Christine Lagarde, Johanna Geron, Lagarde, cryptocurrencies, Balazs Koranyi, Susan Fenton Organizations: European Central Bank, Parliament's, Economic, Monetary Affairs, REUTERS, Rights, ECB, Thomson Locations: Brussels, Belgium, Frankfurt

☆ Dollar headed for best week against yen in three months; cryptos leap
▼ + stars: | 2023-11-10 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. The dollar stood near a one-year high at 151.355 yen on Friday and touched one-week highs against the Australian and New Zealand dollars. The greenback, however, regained its footing this week and was eyeing a weekly gain of roughly 1.3% against the yen, its best performance since August. The Aussie and the kiwi were likewise headed for a 2.3% and 1.75% weekly decline against the dollar respectively, also their steepest drop in months. "Even though we don't expect Powell to deliver on the tightening bias, that tightening bias does support the dollar," said Kong.

Persons: Rick Wilking, Jerome Powell, Powell, Tina Teng, it's, Carol Kong, Carl Szantyr, Rae Wee, Lincoln, Kim Coghill Organizations: REUTERS, Rights, Federal, New, CMC Markets, Fed, Commonwealth Bank of Australia, Australian, New Zealand, U.S . Securities, Exchange Commission, Thomson Locations: Westminster , Colorado, Rights SINGAPORE, New Zealand, U.S, China

☆ Dollar eyes best week against yen in three months; cryptos leap
▼ + stars: | 2023-11-10 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. The dollar stood near a one-year high at 151.38 yen on Friday and touched one-week highs against the Australian and New Zealand dollars. The greenback, however, regained its footing this week and was eyeing a weekly gain of roughly 1.3% against the yen, its best performance since August. The Aussie and the kiwi were likewise headed for a 2.4% and 1.8% weekly decline against the dollar respectively, also their steepest drop in months. "Even though we don't expect Powell to deliver on the tightening bias, that tightening bias does support the dollar," said Kong.

Persons: Rick Wilking, Jerome Powell, Powell, Tina Teng, it's, Carol Kong, Carl Szantyr, Rae Wee, Lincoln Organizations: REUTERS, Rights, Federal, New, CMC Markets, Fed, Commonwealth Bank of Australia, Australian, New Zealand, U.S . Securities, Exchange Commission, Thomson Locations: Westminster , Colorado, Rights SINGAPORE, New Zealand, U.S, China

☆ A bitcoin ETF seems to be just around the corner. How will financial advisors react?
▼ + stars: | 2023-11-09 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +5 min

Edelman also founded Edelman Financial, a large firm of registered investment advisors. The potential of a bitcoin ETF has appeared to help fuel a recent rally in the cryptocurrency. Concerns from advisors Crypto's dramatic rise has largely come without the embrace of the traditional financial system, such as financial advisors and major banks. But not all financial advisors seem ready to embrace crypto just because investing in it is simpler. Client demand Even if advisors are skeptical of crypto, the arrival of bitcoin ETFs is sure to generate more questions from clients.

Persons: BlackRock, Ric Edelman, Edelman, Bitcoin, bitcoin, Sam Bankman, Randy Frederick, Frederick, Andrew Morgan, Taylor, Morgan, that's, Amy Hescht, They're Organizations: Nasdaq, Digital Assets Council, Financial Professionals, Edelman, The Securities, Exchange Commission, SEC, Blackrock, Schwab Center, Financial Research, Fidelity, Presper Financial, Advisors, fund's Locations: United States, U.S, Bitcoin, BlackRock, Michigan, Akron , Ohio

☆ The Trial of Crypto’s Golden Boy
▼ + stars: | 2023-10-06 | by ( The Journal. | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/finance/trial-of-cryptos-golden-boy-4c376cef

Persons: Dow Jones

Da Ponte denied a Bloomberg report that the payments processor paused development of its stablecoin in February. But da Ponte argues this troubled backdrop is exactly why PayPal is poised to succeed. Then there's the hypothetical digital dollar that would be the Fed's take on a central bank digital currency, or CBDC. "We have a large base of consumers; we have a large base of merchants," da Ponte said of PayPal's "two-sided network." Da Ponte sees PayPal's more than 20-year tenure in the payments space as one of the company's chief advantages in the stablecoin market.

Persons: Jose Fernandez da Ponte, PayPal's, Da Ponte, Paxos, it's, Ponte, stablecoins, Nic Carter, Stablecoins, Carter, Andy Bromberg, Andreessen Horowitz, Bromberg, PYUSD, Jeremy Allaire, Allaire, Patrick McHenry, McHenry Organizations: PayPal, CNBC, Bloomberg, SEC, New, Regulators, Valley Bank, U.S ., U.S, Castle, Ventures, Companies, Eco, Coinbase Ventures, Paypal, Facebook, Financial Services, America Locations: U.S, New York, Bromberg, web3, United States, R, DexTools

☆ Coinbase shares can rally more than 40% as crypto industry sees legal wins, Canaccord Genuity says
▼ + stars: | 2023-08-01 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Canaccord Genuity sees a stronger future for Coinbase , doubling its price target on the company on the back of some wins for the crypto industry. The ruling places "further doubt" on the argument of the SEC's case against Coinbase, Vafi said. Coinbase reported earlier this year first-quarter revenue that was up 22% from the prior quarter. The crypto exchange's subscription and services revenue also came in at par with its trading revenue. Shares of Coinbase have gained more than 23% this month and are up nearly 194% year to date.

Persons: Canaccord Genuity, Joseph Vafi, Coinbase, Vafi, — CNBC's Michael Bloom Organizations: Coinbase, BTC, SEC, ETH

☆ Crypto’s Quiet Gains: Ownership Climbs Despite Crash in Prices
▼ + stars: | 2023-06-09 | by ( Josh Zumbrun | ) www.wsj.com time to read: 1 min

Persons: Dow Jones

☆ SEC’s Coinbase Complaint Sets Off Battle for Crypto’s Future
▼ + stars: | 2023-06-06 | by ( Telis Demos | ) www.wsj.com time to read: 1 min

Persons: Dow Jones, c50c6e20

☆ Crypto crackdown: Is there anywhere safe left for crypto investors in the US?
▼ + stars: | 2023-06-06 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

“Look, we don’t need more digital currency,” Gensler told CNBC on Tuesday. “We already have digital currency: It’s called the US dollar. Many crypto investors appear to be abandoning so-called “alt-coins” and sticking with the relatively more reliable OG virtual currency, wrote Ed Moya, a senior market analyst with Oanda. Bottom line: “The SEC looks like it is playing Whac-A-Mole with crypto exchanges,” Moya wrote. Because of that, crypto investors will have to decide whether they are confident that the offerings on various exchanges will remain available to trade.

Persons: CNN Business ’, Binance, ”, Matt Levine, I’ll, Coinbase, Brian Armstrong, Gary Gensler, ” Gensler, “, It’s, Crypto, TD Cowen, Reena Aggarwal, Aggarwal, bitcoin, Ed Moya, ” Moya, —, you’ll Organizations: CNN Business, New York CNN, Securities and Exchange Commission, SEC, CNBC, Georgetown, Psaros, Financial Markets, Chicago Mercantile Exchange, Oanda Locations: New York, United States, “, cryptos

☆ Nobel economist Paul Krugman slams crypto as mostly useless, after saying it's hugely overpriced and helps criminals
▼ + stars: | 2023-05-30 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

Paul Krugman says crypto is mostly useless, overvalued, and appeals to bank skeptics and criminals. The Nobel Prize-winning economist flagged a "crypto bubble" and the "dark side" of the crypto world. Krugman has dismissed crypto as inefficient, volatile, and propped up by hype and speculation. Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. Krugman delivered a far harsher critique of crypto in a New York Times op-ed in April.

☆ Cryptos have no intrinsic value and trading in them should be regulated like gambling, UK lawmakers say
▼ + stars: | 2023-05-17 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Trading in cryptocurrencies is akin to gambling and should be treated as such, British lawmakers said. Unbacked tokens like bitcoin and ether aren't underpinned by underlying assets and have "no intrinsic value," lawmakers on the U.K. Treasury Select Committee said in a report published Tuesday. The Treasury committee said it was concerned by government proposals to regulate consumer crypto trading as a financial service. This, lawmakers said, would create a "halo" effect that leads people to believe crypto trading is safe and protected, when this is not the case. Blair Halliday, U.K. managing director for top U.S. crypto exchange Kraken, said: "We fundamentally disagree with the Treasury Select Committee's conclusion that cryptoassets have no intrinsic value.

☆ Morgan Stanley sees a sign that points to a top in bitcoin
▼ + stars: | 2023-05-17 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

It's altcoin season, as they say in crypto, and that could mean a bitcoin price peak is imminent, according to Morgan Stanley. "Speculative activity has returned to some parts of the crypto market," said Morgan Stanley analyst Sheena Shah. Bitcoin price peaks both large and small have in recent years coincided with increases in speculative token listings, she said, highlighting April and November 2021 and March and August 2022. Throughout 2021 bitcoin's price had an inverse relationship with the pace of new token listings, according to Shah. "We will be watching to see if the same pattern repeats or if we are at the start of a new bullish bitcoin price cycle," said Shah.

The Securities and Exchange Commission has been waging a campaign to regulate cryptocurrencies since 2017, arguing it has the authority to oversee many digital coins and the platforms that trade them. The SEC can only regulate digital coins that are classified as securities, a category that includes assets such as stocks and bonds. SEC Chair Gary Gensler has said most crypto tokens fall within that category. That means many were distributed illegally, because securities can only be sold to the public if they are registered with the SEC and the issuers provide financial and risk disclosures.

☆ Citi downgrades this crypto trading giant over uncertain regulatory path
▼ + stars: | 2023-05-02 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Citi thinks cryptocurrency exchange Coinbase's future will be plagued with regulatory uncertainty, and investors may want to steer clear because of that. The firm downgraded shares of the platform to neutral/high risk from buy/high risk with a $65 price target, down from $80. COIN YTD mountain Coinbase stock could face more pressure as the legal dispute with the U.S. Securities and Exchange Commission unfolds, Citi says. But Citigroup isn't convinced that's likely, especially since Coinbase is pursuing its own lawsuit against the SEC in response to a Wells notice received in March. Coinbase shares fell more than 1% after the downgrade.

☆ Warren Buffett's former deputy slams crypto and meme stocks, heralds AI's 'iPhone moment,' and flags big risks to commercial real estate. Here are the 6 best quotes from her annual letter.
▼ + stars: | 2023-04-20 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Warren Buffett's ex-deputy blasts meme stocks and cryptos and welcomes a more sensible market. Tracy Britt Cool advises investors to be careful and touts ChatGPT as groundbreaking. Here are the six best quotes from Britt Cool and her Kanbrick cofounder in their annual letter. Tracy Britt Cool and her Kanbrick cofounder, Brian Humphrey, also jabbed at meme stocks and cryptocurrencies, and hailed artificial intelligence as a game-changing technology. (Britt Cool and Humphrey singled out commercial real estate, heavily indebted companies with floating-rate loans, and the mushrooming federal debt as areas of concern.)"

☆ Failed crypto exchange FTX's spectacular collapse was due to 'hubris, incompetence, and greed,' says first debtors' report
▼ + stars: | 2023-04-10 | by ( Huileng Tan | ) www.businessinsider.com time to read: +6 min

On Sunday, its debtors released their first report on the collapse of the crypto exchange. The report alleged a lack of controls including in management, governance, and accounting. Read further for the three key allegations from the debtors' report. The report alleged the management and governance of FTX were largely limited to Bankman-Fried, Singh, and Wang. The report also alleged FTX failed to put in place "basic, widely accepted" security controls to safeguard its crypto assets.

☆ 12 crypto projects supporting AI development as mega-cloud giants like Amazon dominate the space, according to a research analyst
▼ + stars: | 2023-04-03 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

"Despite the seemingly smooth progress of AI development, there are underlying challenges and bottlenecks that must be addressed. His recent report points to crypto projects that are developing decentralized machine learning compute networks. Crypto projects lowering the barrier to AIThere are five main stages in the development of AI, according to the report. The two crypto projects that currently have the ability for this are gensyn and together however their blockchains are not yet live. Both of the above tasks aren't as strenuous as model training, so more crypto projects can support them.

☆ Bitcoin storms toward its strongest quarter in 2 years with a 72% jump, outperforming the Nasdaq and gold
▼ + stars: | 2023-03-29 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Bitcoin is on track for its best quarter in two years, with the token so far seeing a 72% jump. Bitcoin has outperformed the Nasdaq and gold this year, which are up 15% and 9%, respectively. The token has outperformed both the Nasdaq 100 and gold, which are up 15% and 9%, respectively, in the same stretch. And bitcoin got another boost after the collapse of Silicon Valley Bank set off fears of broader bank contagion. "Combined with a low CPI print, the price of bitcoin is pulling retail into the crypto economy again."

☆ Crypto lost the battle to be an alternative to fiat money after FTX collapse, top economist says
▼ + stars: | 2023-02-22 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

Agustin Carstens, the head of the Bank for International Settlements, said crypto is not a replacement for fiat currencies. "Only the legal, historical infrastructure behind central banks can give great credibility [to money]," the economist told Bloomberg. Crypto regulation, Carstens said, will likely strengthen after FTX's catastrophic downfall. Regulation, Carstens added, will likely strengthen because of the fallout. "Only the legal, historical infrastructure behind central banks can give great credibility [to money]," per Carstens, adding that crypto can really only exist "under certain conditions."

☆ A crypto chartmaster shares why bitcoin could fall up to 50% after its massive comeback — and why he's bullish on these 4 altcoins in the long term
▼ + stars: | 2023-02-17 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

Chartmaker Forrest Przybysz shared his 2023 price outlook for bitcoin and ether. Here are four altcoins that Przybysz is most optimistic about with bitcoin at risk of falling. In other words, while Przybysz's charts also indicate that ether could fall 20%, the token's potential upside of 57% is double that of bitcoin. Ether is trading above technical support but could rise substantially. Forrest Przybysz, Sistine ResearchDespite their strong showings so far this year, bitcoin and ether are still about 64% below their all-time highs.

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