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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
The Ethereum network successfully completed its "Dencun" upgrade on Wednesday, which is meant to help it become faster and cheaper to use. The price of ether has been trading lower since then, which was expected based on the cryptocurrency's behavior following previous tech upgrades. "High activity on the Ethereum network has caused high transaction fees and, consequently, more fees burnt," Julio Moreno, CryptoQuant's head of research, said in a note Wednesday. High transaction activity causes network fees to spike, more fees being burnt and total supply to decrease." They're hoping that the combination of increased activity and the decrease in the supply of ether over time will push the token's price higher.
Persons: CryptoQuant, Julio Moreno, CryptoQuant's, William Ogden Moore Organizations: ETH, They're, bitcoin, Securities and Exchange Locations: Dencun, Solana, U.S
Read previewLike a lot of people, Nick O'Neill got the crypto bug during the pandemic. But then he stumbled into a bit of viral fame: A joke post he made boasting about his crypto prowess took off, fueled in part by people who didn't realize he was joking. "Choose rich" is O'Neill's catchphrase, which is mostly a joke, but also very similar to things people used to say on crypto Twitter, for real. AdvertisementPeter Kafka: You make this thing that is a little sincere but is mostly a joke, and it triggers people who don't think it's a joke. Peter Kafka: I couldn't tell if you were satirizing crypto, or crypto culture, or Twitter/X culture.
Persons: , Nick O'Neill, he's, O'Neill, Crypto, There's, Peter Kafka, That's, It's, bro, Solana, NFTs, Dan Bilzerians, there's, you've, X Nick O'Neill, Dave Portnoy's Organizations: Service, Business, pic.twitter.com, Twitter, MySpace, Washington Locations: Miami, Solana
The firm battling Musk previously helped Twitter in a legal conflict with the billionaire. The billionaire is set to face off again with a lawyer who helped Twitter sue Musk after he attempted to back out of the $44 billion purchase. One of the lawyers from the Wachtell firm, William Savitt, helped lead Twitter's case against Musk. AdvertisementMusk helped found OpenAI in 2015 and has said he invested tens of millions of dollars into the AI venture. Representatives for Musk and OpenAI did not immediately respond to a request for comment.
Persons: OpenAI, Elon Musk's, Musk, , Elon Musk, Lipton, Katz, Foerster, Sam Altman, William Savitt, Morrison, Ragesh Tangri —, Morgan Chu, Alan Heinrich, Chu, Tesla, Altman Organizations: Twitter, Service, Reuters, Wachtell, Rosen, Morrison, — Jordan Eth, Ragesh, Bloomberg, Microsoft, Musk Locations: — Jordan
Relative to bitcoin , the initial price action following the upgrade is even weaker historically, with ether underperforming 80% of the time in the first 20 days, Saunders added. Saunders warned, however, that the trading environment for crypto is different today than it was during previous Ethereum network upgrades. The scalability problem Dencun follows the "Shapella" upgrade from almost a year ago, which allowed investors to withdraw their staked ether from the network for the first time. This upgrade is focused on the longer-term goal of enhancing Ethereum's ability to handle more activity and transactions as the network grows. "The Dencun upgrade serves as an important step in addressing this congestion, which hurts users and developers alike."
Persons: Alex Saunders, Saunders, Philipp Zentner, bitcoin –, Duncan Ash, Michael Bloom Organizations: BTC, Citi, ETH, Metrics, Securities and Exchange Commission Locations: U.S
Ether on Tuesday continued its march higher as the price of bitcoin took a breath. Bitcoin rose 1% to $68,833.45 and hit a record high above $69,000. "As has often happened in the past, bitcoin approaching record highs has caused a trickledown effect of adoption elsewhere in the ecosystem." With bitcoin up 19% in the past week, meme coins have gained about 175% in the same period, according to CoinGecko. Analysts point to them as evidence that retail investors, who have been absent for much of the recent crypto rally, are starting to return to the crypto market.
Persons: bitcoin, bitcoin's, Philipp Zentner Organizations: Metrics Locations: Bitcoin
Three students won the Vesuvius Challenge for uncovering text in the Herculaneum papyri. The students were awarded a $700,000 prize after using AI to uncover the passages. “This is the society from which the modern Western world is descended.”The Herculaneum papyri were buried thousands of years ago during the eruption of Mt. The Vesuvius Challenge hopes entrants will help uncover about 90% of the first four scrolls. AdvertisementThe founders of the Vesuvius Challenge hope they’ll be able to crack open and read the entirety of all 800 scrolls in the next few years.
Persons: , Youssef Nader, Luke Farritor, Julian Schilliger, ” Nader, Julius Caesar’s, ” Robert Fowler, Salvatore Laporta, Nat Friedman, Daniel Gross, Brent Seales —, Seales, uncracked, Philodemus, Friedman, , fihs9ADb48 — Nat Friedman, they’ll Organizations: Service, Freie University, Wall Street, University of Nebraska, ETH Zurich, Villa, Herculaneum Society, Bloomberg Locations: Berlin, Switzerland, Vesuvius, Italian, Herculaneum
Investors expect the Securities and Exchange Commission to greenlight spot ether ETFs in May, but the price action for the crypto could be subdued compared to bitcoin's moves in the runup to its ETF approvals. That compares to the 55% surge bitcoin saw after BlackRock first filed its spot ETF application for the flagship crypto. Regardless, we see the spot ether ETF being less appreciated by the market." JPMorgan estimates a "no more than 50% chance" of spot ether ETF approval by May 23, the final deadline for the SEC to approve or deny the Ark/21Shares application . Schwenkler said any excitement leading up to potential ether ETF approvals will be "less speculative" and that a lot of it is priced in already.
Persons: Kenneth Worthington, Nico Cordeiro, there's, Owen Lau, Oppenheimer, Gustavo Schwenkler, Bitcoin, Solana, Schwenkler, — CNBC's Michael Bloom Organizations: Securities and Exchange Commission, JPMorgan, BlackRock, BTC, ETH, SEC, CNBC, Leavey School of Business, Santa Clara University, of Locations: Southern, of New York, bitcoin
Bitcoin tops $48,000 in a big comeback to end the week
  + stars: | 2024-02-09 | by ( Tanaya Macheel | ) www.cnbc.com   time to read: +1 min
In this article BTC.CM=ETH.CM= Follow your favorite stocks CREATE FREE ACCOUNTChesnot | Getty ImagesBitcoin marched higher to end the week, with its price breaching the $48,000 level for the first time since spot bitcoin exchange-traded funds began trading. Earlier, bitcoin rose to as high as $48,207.78 for the first time since Jan. 11, when the price momentarily touched $49,058.48 in volatile trading following the launch of spot bitcoin ETFs. Before that, bitcoin had not seen the $48,000 level since March 2022. Nevertheless, bitcoin's now up 10% for the week, while ether is on track for a 9% gain. Coin Metrics measures a week in crypto, which trades 24 hours a day, from the 4:00 p.m.
Persons: Bitcoin, cryptocurrency, bitcoin, bitcoin's, Sylvia Jablonski Organizations: Getty, Metrics Locations: Defiance
CNN —After using artificial intelligence to uncover the first word to be read from an unopened Herculaneum scroll, a team of researchers has revealed several nearly complete passages from the ancient text, giving insight into philosophy from almost 2,000 years ago. The Herculaneum scrolls are hundreds of papyri that survived the eruption of Mount Vesuvius in AD 79. By using computer technology and advanced artificial intelligence, researchers can now analyze the Herculaneum scrolls without unrolling and risking damage to the extremely fragile documents. The first word to be decoded, the Greek word for purple, was detected in October 2023 and can be found within the newly interpreted passages. The charred documents, now referred to as the Herculaneum scrolls, were recovered from a building believed to be the house of Julius Caesar’s father-in-law, according to the University of Kentucky.
Persons: , Brent Seales, Luke Farritor, Youssef Nader —, Julian Schilliger, Farritor, Nader, Schilliger, papyrologists, Seales, Julius Caesar’s, Philodemus, “ Philodemus, Roger Macfarlane, Macfarlane, that’s, ” Macfarlane Organizations: CNN, classicists, University of Kentucky, University of Nebraska, Freie University Berlin, ETH Zürich, Institut de France, Brigham Young University Locations: Vesuvius, England, France, Italy, Naples
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
Bitcoin has been struggling since the launch of bitcoin exchange-traded funds and may continue to for some time, according to Wolfe Research. But much like it responded previously at the top of this trading range, we expect consolidation and decline to follow, which is why we would recommend taking some profit at these levels." "Bitcoin is at the top of its trading range," he added. An RSI reading of 70 and higher indicates that an asset is overbought, while a reading of 30 suggests it's oversold. Ginsberg added that bitcoin is overbought on a long-term weekly basis too, a condition that the cryptocurrency has seen only twice before.
Persons: Bitcoin, Wolfe's Rob Ginsberg, it's oversold, Ginsberg, bitcoin, — CNBC's Michael Bloom Organizations: Wolfe Research, U.S . Securities, Exchange Commission, Investors Locations: U.S
Read previewSam Altman's brief ousting as OpenAI CEO didn't just thrust the company further into the global spotlight amid reported personality clashes. It's also highlighted a bigger ethical debate in Silicon Valley: how fast companies should move when pushing out AI technology. Broadly speaking, the debate lies in whether you think that moving full-speed ahead on AI technology will save the world or you think the industry needs to slow down. One key Silicon Valley backer of the idea is veteran venture capitalist Marc Andreessen . His advice to Silicon Valley: "I would encourage any watchers of the industry to not get stuck in a divisive set of rhetoric."
Persons: , Sam Altman's, didn't, It's, Altman, he's, you've, Marc Andreessen, Elon Musk, Peter Thiel, Sam Bankman, Helen Toner, Tasha McCauley, Toner, McCauley, Altman's, EAs —, Sriram Krishnan, Andreessen Horowitz, — Sriram Krishnan, Gaurab Bansal Organizations: Service, Business, acc, EA, Elon, Wall Street Journal, EAs, Labs, US Department of Commerce, Innovation Labs Locations: Silicon Valley, Silicon
The kidnappers planned to ransom the Chowchilla kids, all between the ages of 5 and 14 years old, for $5 million. After all, the field of child trauma psychiatry was still in its infancy. One mental health professional predicted that that only one of the 26 would be emotionally affected by the kidnappings. Much like with adults, Terr described how the consequences of kids’ trauma could linger, with implications reaching far into adulthood. After the school shootings in Columbine and Sandy Hook, for instance, mental health counselors were on the front lines to help survivors.
Persons: pantyhose —, Ed Ray, Ray, they’d, James Palmer, , , Spencer, Lenore Terr, ” Terr, Terr, hadn’t, she’d, Jennifer Brown Hyde, ’ ” Jennifer Brown, Jeffrey, Larry Park, Mike Marshall, Marshall, ” Marshall, doesn’t, he’s, he’d, it’s, Hyde, “ We’ve, Elissa Benedek, Benedek, who’ve, Dr, Sanjay Gupta, Sandy Hook Organizations: CNN, Police, Spencer Eth, Miami VA Healthcare, CNN Films, AP, ” Eth, American Psychiatric Association, Get CNN, CNN Health Locations: Chowchilla , California, San Joaquin Valley, urine, Los Angeles, Chowchilla, Livermore , California, San Francisco, Midwest, Columbine
IOTA digital tokens will fund the investment. The foundation will be seeded with over $100 million in IOTA tokens, to be vested over the next four years, Schiener said. IOTA tokens on Tuesday traded at about $0.17, with a market capitalization of roughly $524 million, Coinmarketcap.com showed. The funds will be used to develop the IOTA network and accelerate its growth, Schiener said. IOTA will also start "tokenizing" assets, he said, a process in which ownership rights in land or buildings are represented as digital tokens and stored on a blockchain.
Persons: Satoshi bitcoin, Arnd, Dominik Schiener, Binance, Schiener, Hamad Sayah Al Mazrouei, Gertrude Chavez, Dreyfuss, Alden Bentley, Richard Chang Organizations: Swiss, Bity, REUTERS, IOTA, Wednesday, Abu Dhabi Global, United Arab, Registration, ADGM, Thomson Locations: Zurich, Switzerland, Abu Dhabi, United Arab Emirates, UAE, Europe, Germany
CNN —Newly freed hostages and detainees may experience a range of layered psychological impacts including anxiety, depression, disorientation, grief, post-traumatic stress and survivor’s guilt as they return home and beyond the Israel-Hamas truce, experts say. Over the first four days, Hamas released 69 hostages and Israel freed 150 Palestinians from prison, many of whom were detained but never charged. Eth has not been involved in the hostages’ care, but he said that those who have been released may undergo medical evaluations that might include “very careful” psychological and psychiatric evaluations. Those evaluations could involve looking for signs of traumatic brain injury, post-traumatic stress disorder or other psychological conditions. “Some might look like they’re doing very well, like they’re resilient early on, and then develop serious symptoms later.
Persons: , Spencer, they’re, Abigail Edan, Noam, Emily Hand, , , Ani Kalayjian, ” Kalayjian, Walter Busuttil, CNN’s Kim Brunhuber, ” Busuttil, , ” Dollberg, CNN’s Laila Harrak, Dr, Sanjay Gupta, I’m, , ” CNN’s Lauren Izso, Alex Stambaugh Organizations: CNN, Spencer Eth, Miami VA Healthcare, University of Miami, Eth, ” Eth, United Nations, National Institute of Mental Health, Academic College of Tel, ” Israel’s Ministry of Welfare and Social Affairs, Israel Defense Forces, Get CNN, CNN Health Locations: Israel, Alma, Gaza, Academic College of Tel Aviv
Competition is set to heat up for the popular Grayscale Bitcoin Trust once the Securities and Exchange Commission approves a spot bitcoin ETF in the U.S. ARK in partnership with 21 Shares is in a long line at the SEC to get its application to launch a spot bitcoin ETF approved. Grayscale has been fighting with the SEC to convert GBTC into an ETF. The drumbeat for a bitcoin ETF has been growing louder since this summer. This week, ARK sold $6 million of GBTC shares, which Wood cited as a routine profit-taking event.
Persons: Cathie Wood, , Wood, Bitcoin, ARK Organizations: Securities and Exchange Commission, U.S, ARK, CNBC, SEC Locations: GBTC, U.S, Canada, Europe
As the climate crisis intensifies, that ability has made them controversial: How much can we rely on trees to get us out of this mess? Dr. Crowther was the senior author of a polarizing study on forest carbon in 2019 that drew scientific backlash but also inspired an effort by the World Economic Forum to grow and conserve one trillion trees. In 2019, he acknowledged, careless language led to trees being wrongly painted as a silver bullet for climate change. “We are all terrified that this potential of nature gets misused,” Dr. Crowther said. “Nature has such spectacular potential to help us tackle global threats, but it will be devastating if major organizations use nature as an excuse to do more harm to our planet.”
Persons: Thomas Crowther, Crowther, Dr Organizations: ETH Zurich, World Locations: Switzerland
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
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSpot bitcoin and ETH ETFs would be 'win' for investors: Ether Capital CEOBrian Mosoff, CEO of Ether Capital, sat down with CNBC Crypto World to discuss how the crypto industry builds back the trust lost from the FTX collapse and the growing hype around crypto-focused ETFs.
Persons: Brian Mosoff Organizations: Ether, CNBC
"The importance of the far side impact was to produce seismic waves that traversed the deep interior of the planet, including the core. Previously, we had not observed any seismic waves that had transited the core. Unlike Mars, Earth has no molten layer around its core. One of the two studies published on Wednesday indicates this layer is fully molten, with the other indicating that most of it is fully molten, with the top portion partially molten. "We have learned a lot about Mars by studying the unique seismic record provided by the InSight mission," Samuel said.
Persons: Amir Khan, Henri Samuel, Khan, Samuel, Will Dunham, Daniel Wallis Organizations: NASA, JPL, Caltech, Handout, REUTERS, Rights, Tempe Terra, ETH, CNRS, Institut, Physique, Globe, Thomson Locations: Mars, Tempe, ETH Zürich, Switzerland, Paris
Princeton University earned the top spot on both The Wall Street Journal's and U.S. News and World Report's rankings for 2024. The University of Oxford in the United Kingdom was named the best university in the world for the eighth year in a row, according to Times Higher Education's ranking of over 1,900 universities worldwide. Oxford, the world's second-oldest university, continues to be a global leader in academic research and instruction nine centuries after its conception. Times Higher Education uses metrics across five areas — teaching, research environment, research quality, industry innovations and international outlook — to rank universities around the world. Though the U.S. doesn't hold the top spot, the next three best-ranked universities are American — but the two highest-ranked ones aren't Ivy League schools.
Persons: United Kingdom Stanford University —, Berkeley — Organizations: Ivy League, U.S, Princeton University, U.S . News, University of Oxford, Oxford, university, Higher Education, doesn't, aren't Ivy League, Stanford University and Massachusetts Institute of Technology, Harvard, Princeton, Oxford University, The University of Oxford —, United Kingdom Stanford University, United Kingdom Stanford University — Stanford, United States Massachusetts Institute of Technology, United States Harvard University — Cambridge, United States University of Cambridge —, United Kingdom Princeton University — Princeton, United States California Institute of Technology, United States Imperial College London —, United Kingdom University of California, United States Yale University — New, United States ETH Zurich —, Switzerland Tsinghua University — Beijing, University of Chicago, United States Peking University — Beijing, China Johns Hopkins University — Baltimore, United States University of Pennsylvania, United States Columbia University —, United States University of California, Los Angeles —, United States National University of Singapore — Singapore Cornell University — Ithaca, United States Times Higher Education, CNBC, Global Locations: U.S, United Kingdom, The University of Oxford — Oxford, California, United, United States Massachusetts Institute of Technology — Boston, United States Harvard University — Cambridge , Massachusetts, United States University of Cambridge — Cambridge, United Kingdom Princeton University — Princeton , New Jersey, United States California Institute of Technology — Pasadena , California, United States Imperial College London — London, Berkeley, Berkeley — Berkeley , California, United States Yale University — New Haven , Connecticut, United States, United States ETH Zurich — Zurich, Switzerland, China, University of Chicago — Chicago, Philadelphia, York, Los Angeles, Los Angeles — Los Angeles, New York
AI could accurately guess a user's personal information — like gender, age, and location — based on what they type, a new study says. The study's authors say AI can be used to "infer personal data at a previously unattainable scale" and be deployed by hackers. This is very, very problematic," one of the study's authors told Wired. This is very, very problematic," Martin Vechev, a professor at ETH Zurich and one of the study's authors, told Wired in an article published Tuesday. The study's authors, Meta, Google, Anthropic, and OpenAI, did not immediately respond to requests for comment from Insider, sent outside regular business hours.
Persons: It's, , Robin Staab, Mark Vero, Mislav Balunović, Martin Vechev, Meta's, Anthropic's Claude Organizations: Wired, Service, ETH Zurich, Meta, Google Locations: Melbourne
Ferrari to accept crypto as payment for its cars in the U.S.
  + stars: | 2023-10-14 | by ( ) www.cnbc.com   time to read: +3 min
Patchy regulation and high energy usage have also prevented the spread of crypto as a means of payment. These include electric carmaker Tesla , which in 2021 began to accept payment in bitcoin, the biggest crypto coin, before CEO Elon Musk halted it because of environmental concerns. Ferrari shipped more than 1,800 cars to its Americas region, which includes the U.S., in the first half of this year. Galliera did not say how many cars Ferrari expected to sell through crypto. "Prices will not change, no fees, no surcharges if you pay through cryptocurrencies," Galliera said.
Persons: Manuel Romano, Ferrari, Elon Musk, Enrico Galliera, Reuters cryptocurrencies, Galliera Organizations: Ferrari, Auto, Getty, Reuters Locations: Padova, Italy, cryptocurrency, U.S, Europe, bitcoin, cryptocurrencies, Italian, East, Africa, China
Ether could hit $8,000 by end-2026, Standard Chartered analyst Geoff Kendrick wrote. Bitcoin's halving, regulatory developments, and the end to the bond market sell-off will also benefit ether. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . By the end of 2026, ether could reach $8,000, or a 400% jump from today's price of around $1,600.
Persons: Geoff Kendrick, , Kendrick, Tokenization Organizations: Service, Chartered, BTC, ETH, FX Research, Digital Assets
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