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☆ Bitcoin plummets as $9 billion Mt. Gox payout begins and government selling adds pressure
▼ + stars: | 2024-07-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Gox bitcoin recipients and government wallets. Gox still holds about 140,000 bitcoin and has started to repay creditors and former customers. The sharp decline has been accompanied by a wave of selling by notable bitcoin holders, including the defunct Mt. Fairlead Strategies highlighted $60,000 as a key support level that has since been broken. The decisive breakdown puts bitcoin's next support level target at around $51,500.

Persons: Bitcoin, Gox, —, Blockworks Organizations: Service, Bitcoin, Arkham Intelligence Locations: Mt, Gox, bitcoin, Germany

☆ Crypto firm Ledger to launch iPod-inspired crypto wallet in May, after months of delays
▼ + stars: | 2024-03-19 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

LONDON — Crypto wallet maker Ledger says it is set to launch its much-anticipated hardware wallet Ledger Stax, which was designed by iPod inventor Tony Fadell, in May. Ledger, which makes hardware and software wallets for crypto investors, first announced Ledger Stax in 2022 after a plunge in crypto prices in the wake of the collapse of crypto exchange FTX. Speaking with CNBC at the Blockworks Digital Asset Summit in London, Ledger CEO Pascal Gauthier said that he expects the Ledger Stax will launch soon. "Stax is coming out in two months," Gauthier told CNBC onstage Tuesday at the event. The Ledger Stax has been beset by a series of shipment delays over the past year due to issues with getting its E-ink display to work smoothly.

Persons: Ledger, Tony Fadell, Stax, Pascal Gauthier, Gauthier Organizations: LONDON, CNBC, Amazon, Asset, Ledger Locations: London

☆ Economist David Rosenberg says a recession will hit in 6 months. Here are his 7 best quotes from a new interview.
▼ + stars: | 2023-09-04 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

Top economist David Rosenberg expects a US recession to hit within 6 months. The Fed's 11 interest rate hikes amount to one of the most aggressive tightening campaigns ever, and to the economist, that doesn't bode well for the coming months. "We've had the biggest interest rate shock since 1981, if I'm not mistaken. "Most of these recessions [since World War II] were not caused by a fiscal shock, but interest rate shocks. "We've had a massive interest rate shock, we haven't seen the full impact yet.

Persons: David Rosenberg, Blockworks, Blockwork's Jack Farley, doesn't bode, We've, I'm, impact's, we're, it's Organizations: Morning, Rosenberg Research, Associates, Fed Locations: China, Federal, happenstance

☆ It would be a 'miracle' to escape a recession and the erosion of credit is similar to 2008, top economist David Rosenberg warns
▼ + stars: | 2023-09-01 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

The US looks likely to tip into a recession in about six months, according to David Rosenberg. The top economist warned that the deterioration of credit quality is reminiscent of 2008's mortgage crisis. "I think that if we escape this little recession, it'll be a miracle," he told Blockworks' Forward Guidance. "Every penny of the stimulus checks got spent." "We just replaced credit cards with what happened with subprime mortgages 15 years ago," Rosenberg said.

Persons: David Rosenberg, Blockworks, We've, I'm, impact's, there's, Morgan Stanley, Seth Carpenter, we'll, Banks, Rosenberg Organizations: Service, Rosenberg Research, Associates, Federal, Bank of America Locations: Wall, Silicon

☆ Bitcoin breaks its all-time record for daily transactions amid surging interest in new network protocol
▼ + stars: | 2023-05-02 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

The daily number of Bitcoin transactions jumped to an all-time high on Monday. Many were from Bitcoin Ordinals, a protocol that expands the blockchain's use case. Bitcoin is currently trading at $28,790, up 2.78% in the past 24 hours. Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. The daily number of Bitcoin transactions jumped to 682,300 on Monday, according to data provider BitInfoCharts, after hitting a previous high of 568,300 the day before.

☆ Brace for a recession by September, a 20% plunge in the S&P 500, and a painful credit crunch, top economist David Rosenberg says
▼ + stars: | 2023-04-27 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

David Rosenberg sees a near-term recession, a 20% hit to stocks, and a damaging credit crunch. The economist panned the Fed for hiking interest rates and said they could hit zero again. (Rosenberg suggested S&P 500 earnings could drop by one-fifth in a recession, to about 3,200 points.) Now we have not just the cost of credit being a problem for the economy, but the availability of credit is going to compound that. Read more: We put 7 burning questions to top economist David Rosenberg.

☆ The Bahamas has hit out at 'extremely regrettable' criticism from FTX's new CEO after the Nassau-based crypto giant collapsed
▼ + stars: | 2022-11-28 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

After FTX went bankrupt, the Bahamas suspended its license and took control of its digital assets. The Bahamas attorney general accused the FTX CEO of "inaccurate allegations" in his court filings. After the crypto exchange founded by Sam Bankman-Fried entered bankruptcy earlier in November, the Bahamas suspended FTX's license and took control of its digital assets by transferring them into a government crypto wallet. Ray is also known for acting as CEO for energy giant Enron, and handled its liquidation after accounting fraud. FTX's bankruptcy has led to calls for tighter crypto regulations from both US senators and the Bank of England.

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