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☆ That simple 'hi' text from a stranger could be the start of a scam that ends up costing you millions
▼ + stars: | 2023-05-02 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +14 min

The scammer networks operate fake trading platforms that look "exactly the way they should look," Friedman told CNBC. "When I was looking at who had messaged, I was like, 'I don't know if this person is real,'" Kaimi told CNBC. When pressed, Kaimi told Mike about his financial difficulties, stemming from past credit-card debt. "I thought I was someone who knew when they were being scammed, was able to discern things," Kaimi told CNBC. But when Kaimi told Mike he was planning to withdraw his funds, the penny dropped.

☆ Creator of Nansen's Shanghai dashboard breaks down the data following the upgrade
▼ + stars: | 2023-04-19 | 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 EmailCreator of Nansen's Shanghai dashboard breaks down the data following the upgradeCNBC 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. Following Ethereum's latest upgrade, Crypto World spoke with Niklas Polk, a research analyst with the blockchain analytics platform Nansen, about the new Shanghai dashboard he helped create and the data it revealed regarding ETH withdrawals.

☆ Crypto trading could take a breather after ‘Shanghai’ rally, as investors refocus on banks and economy
▼ + stars: | 2023-04-16 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

While ether climbed throughout the week, bitcoin – the outperformer this year – was trading more choppily. Or will it be an event where people are losing money broadly and economic concerns spill over into the crypto space." "I think it could go either way, but so far what we see in the crypto space is encouraging," he added. "Investors could continue to be picky and look for perceived quality, even in the crypto space," she said. "That's helped bitcoin this year since it's seen as a risk asset outside of crypto, but a store of value within crypto.

PARLIAMENT 'CIRCUMVENTED'The Credit Suisse/UBS merger marked the first time that parliament had withheld its support for emergency laws designed to deal quickly with crises. Swiss Finance Minister Karin Keller-Sutter defended the use of the emergency powers, saying Switzerland was not an "emergency dictatorship." "The emergency law is based on the federal constitution and I don't think it's correct to say it's illegal." "Politicians might have wanted to show their disapproval about what happened, but they don’t want the UBS takeover to fail." The use of such emergency legislation, overturning antitrust rules, is a problem for Swiss democracy and rule of law.

☆ Ether rallies 12% in two days, topping $2,100 after tech upgrade
▼ + stars: | 2023-04-14 | by ( Tanaya Macheel | ) www.cnbc.com time to read: 1 min

Ether, the digital token of the Ethereum blockchain, is the second-largest cryptocurrency in the world by market value. Cryptocurrencies built on their post-Shanghai/Shapella gains Friday as investors breathed a sigh of relief that Ethereum's latest tech upgrade was completed successfully and without some of the potentially negative aftereffects they initially feared. Ether rose another 5% Friday morning to $2,113.73, bringing its two-day gain to nearly 12%, according to Coin Metrics. It's on pace to end the week up 14%The ETH rally lifted other cryptocurrencies, with bitcoin rising more than 1% to $30,795.99. The largest cryptocurrency by market cap climbed to $30,000 on Monday, for the first time since June.

☆ Ether rises after the Shanghai upgrade, bringing year-to-date gain to more than 65%
▼ + stars: | 2023-04-13 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

The price of ether climbed on Thursday, after investors put uncertainty surrounding the long-awaited Shanghai upgrade behind them. Ether rose more than 4.5% to $1,989.02, according to Coin Metrics, while bitcoin gained more than 1%. After a two-year lock up period, Ethereum staking withdrawals were enabled by the Shanghai upgrade around 6:30 p.m. Investors were optimistic but cautious in the weeks leading up to Shanghai, also known as "Shapella." Noelle Acheson, an economist and author of the "Crypto is Macro Now" newsletter said she's skeptical the sudden move higher in ether isn't entirely Shanghai-driven.

LONDON, April 13 (Reuters) - Cryptocurrency investors are facing delays to withdraw funds deposited on the Ethereum blockchain after its major software upgrade, highlighting persistent headaches for Ethereum which aims to have the technology widely used for instant payments. The software upgrade, known as "Shapella," was set to unlock more than $30 billion worth of ether , the second-biggest cryptocurrency, which investors had deposited on the Ethereum blockchain in return for interest. Until Wednesday's upgrade, investors could not withdraw funds they had deposited via this method, known as "staking", on the Ethereum blockchain. As of Thursday, ether worth around $1.4 billion was stuck in a withdrawal queue, blockchain data firm Nansen said. "Due to the processing limitations on the Ethereum network, Binance will set a daily ETH redemption quota for each Binance user," Binance said on its website.

☆ Ether is poised to climb higher with the uncertainty of 'Shanghai' behind investors
▼ + stars: | 2023-04-13 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +7 min

Market participants say that with all the uncertainty out of the way, ether may finally catch up with bitcoin. After Shanghai Investors can now withdraw staked ether from the network for the first time ever: This is one of the biggest attractions of the Shanghai upgrade. This Merge ultimately made more liquidity available to ether investors and stakers. "Dominance" measures how a crypto asset like bitcoin is performing relative to its peers in the crypto market. That correlation has declined, however, in part because market participants have favored bitcoin over ether ahead of the Shanghai upgrade.

Known as Shapella, the latest upgrade to the Ethereum blockchain since its Merge upgrade will enable investors to redeem an offshoot of ether tokens that they have deposited in return for interest on the blockchain network over the past three years. Such so-called "staked ether" tokens currently account for about 15% of all ether tokens, according to data firm Dune Analytics, and are worth some $31 billion. Deposits & withdrawals for ETH, OP, ARB and ERC-20 tokens via the Ethereum, Optimism, and Arbitrum networks are now back online," Binance said in a tweet. The changes will likely lead to heightened volatility for ether, investors have predicted. In its last significant upgrade, Ethereum in September drastically reduced its energy usage - a move proponents said would give Ethereum an advantage as it seeks to surpass bitcoin.

☆ Where bitcoin goes next after hitting $30,000, according to chart analysts
▼ + stars: | 2023-04-11 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Bitcoin climbed above $30,000 Monday night for the first time since June – and sustained that level throughout trading on Tuesday. This week's price rally has added to the optimism around bitcoin's recent strength and resilience and interest from new investors – and chart analysts agree the cryptocurrency is in a solid uptrend trend – after posting a 63% loss for 2022. "Specially, following its March breakout above key resistance, price had consolidated sideways for a number of weeks," he said. BTC.CM= ETH.CM= 1Y line Bitcoin (BTC) and ether (ETH) over the past year Fairlead Strategies' Katie Stockton echoed that, saying bitcoin "pushed out of its consolidation phase, following a base breakout in March." The recent breakout level near $1,850 should hold in coming days to keep the momentum going.

☆ Ether has been climbing ahead of its planned 'Shanghai' tech upgrade. Here's what the event could mean for crypto investors
▼ + stars: | 2023-04-09 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

Ether rose last week as investors looked ahead to the Ethereum network's next big tech upgrade. "And greater participation in ETH staking strengthens the security of the Ethereum network as a whole." Data from CryptoQuant suggests any sell pressure would be low, however. Currently, however, the majority of the ETH staked (54%, or 9.7 million ETH) is currently at a loss, the firm said. "Given there's a limited amount of participants that can exit in a day, this sell pressure will not be as instant or violent as advertised by some commentators," he said.

☆ Ether is rallying ahead of major upgrade that will let holders more easily access their tokens
▼ + stars: | 2023-04-05 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +4 min

Ethereum underwent a huge network upgrade called the merge which proponents say will make transactions much more energy efficient. Following the merge, ether prices have dropped following a huge run up ahead of the event. Ether has spiked this week to a nine-month high, ahead of a major network upgrade that some crypto enthusiasts say will make the digital currency a more profitable long-term investment. Currently, over 18 million ether tokens worth about $32.5 billion are staked, meaning that 15% of ether's total supply are considered locked assets. That could signal a buildup of bearish bets leading up to the network upgrade.

☆ Ether's strong first-quarter performance was upstaged by bitcoin. Here's what comes next
▼ + stars: | 2023-04-03 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +6 min

Bitcoin opened investors' eyes to the diversity of its narrative as its price fought a banking crisis, a regulatory crackdown and persistent inflation. Further, some see technological advances on the Ethereum network as laying the groundwork for the new cycle. That breakthrough accelerated its development pathway, allowing major Ethereum blockchain upgrades on the regular, Hougan added. "There are positives and negatives that could come from the Shanghai upgrade," he said. The Shanghai upgrade follows the Ethereum Merge , the September transition of the network from proof-of-work to proof-of-stake.

☆ Donald Trump's NFT trading cards jumped in value to almost $1,700 after Manhattan indictment
▼ + stars: | 2023-04-01 | by ( Katie Balevic | ) www.businessinsider.com time to read: +3 min

Trump's digital trading card NFTs soared in value to nearly $1,700 USD following his indictment. Trump is likely to surrender to the Manhattan DA's office on Tuesday, his attorney previously told Insider. According to Newsweek, the floor price of Trump's NFT trading cards was 0.41 Ethereum (ETH), or about $748 USD, on March 30 when Trump was indicted. Trump faces over 30 charges in the indictment, according to a CNN report. Trump attorney Joe Tacopina previously told Insider that Trump is likely to surrender to the Manhattan DA's office on Tuesday.

☆ An NFT collector accidentally destroyed a $129,000 CryptoPunk: 'This is truly a devastating mistake for me'
▼ + stars: | 2023-03-30 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

With one wrong move, a non-fungible token (NFT) collector made a very costly mistake. On March 25, Brandon Riley tweeted that he accidentally destroyed his CryptoPunk #685, an NFT he had purchased weeks earlier for 77 ETH, which was worth about $129,437 at the time, according to Etherscan. While following a step-by-step guide on how to complete the transaction, Riley unintentionally sent his NFT to a burn address, he explained on Twitter. A burn address is a virtual wallet that doesn't have a private key, meaning no one can access it. These types of wallets are typically used to permanently destroy a certain number of tokens, thus creating scarcity and potentially causing the price of that token to rise, according to Coindesk.

☆ Europe drought: This once-thriving lake has all but dried up -- a story repeated across Europe
▼ + stars: | 2023-03-30 | by ( Laura Paddison | ) edition.cnn.com time to read: +9 min

While in the United States, the snow and rain that have pummeled California have helped fill reservoirs and ease unrelenting drought, winter has been far from kind to many parts of Europe. A buoy is seen on the banks of the partially dry Lake Montbel as France faces a record winter dry spell. “Lake Montbel remains at an abnormally low level,” Franck Solacroup, the regional director of the Adour-Garonne Water Agency, which covers the area that includes Lake Montbel, told CNN. Farmers like Rouquet, who rely on the lake, are having to make tough decisions on what to grow. “This is the most extreme winter in terms of low snow cover,” she told CNN.

☆ Coinbase could tumble more than 45% as prolonged SEC battle unfolds, TD Cowen says
▼ + stars: | 2023-03-24 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

A prolonged battle with the U.S. Securities and Exchange Commission will weigh on shares of Coinbase near term, according to TD Cowen. Stephen Glagola downgraded shares of the cryptocurrency exchange operator company to underperform, citing "incremental risk to operations" as the SEC cracks down on crypto banking. The downgrade from TD Cowen comes after the SEC this week issued a Wells notice to Coinbase that warned the company of potential U.S. securities law violations. Glagola also views Coinbase's staking business at risk after Kraken shuttered its own staking operations in a settlement with the SEC . A forced closure of this business would weigh on a component of Coinbase's subscription and services revenue, Glagola wrote.

☆ Credit Suisse rescue creates bank twice the size of Switzerland's economy
▼ + stars: | 2023-03-23 | by ( Hanna Ziady | ) edition.cnn.com time to read: +9 min

London CNN —The last-minute rescue of Credit Suisse may have prevented the current banking crisis from exploding, but it’s a raw deal for Switzerland. An aerial view of the headquarters of Credit Suisse, center, and UBS, left, at Paradeplatz in Zurich, Switzerland on Sunday, 19 March, 2023. Credit Suisse is “part of Switzerland’s identity,” said Hans Gersbach, a professor of macroeconomics at ETH university in Zurich. “The Credit Suisse Swiss bank is a fine asset that we are very determined to keep,” Kelleher said Sunday. Integration is difficultAt $3.25 billion, UBS got Credit Suisse for 60% less than the bank was worth when markets closed two days prior.

☆ Analysis: Credit Suisse collapse threatens Switzerland's wealth management crown
▼ + stars: | 2023-03-22 | by ( John Revill | ) www.reuters.com time to read: +6 min

[1/3] Logos of Swiss banks UBS and Credit Suisse are seen in Zurich, Switzerland March 20, 2023. Switzerland's credibility as a stable, predictable country had been upended by moves like the decision to wipe out the holdings of Credit Suisse bondholders, he said. Under the takeover deal, holders of Credit Suisse AT1 bonds will get nothing, while shareholders, who usually rank below bondholders in compensation terms, will receive $3.23 billion. "In that sense I also see a prosperous future for the financial centre because we have hundreds of very well capitalised banks and very successful wealth management and asset management banks." Reuters Graphics Reuters GraphicsReuters GraphicsOthers were more skeptical about the future, highlighting a reluctance to confront mistakes at Credit Suisse or take responsibility for the aftermath.

☆ How crypto prices may react to the latest Fed decision
▼ + stars: | 2023-03-22 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

The Fed is due to conclude its two-day meeting and unveil its latest policy decision at 2 p.m. Still, inflation and Fed rate hikes remain the biggest catalysts for bitcoin. Here are three scenarios Chhugani and Agrawal are watching, and what investors how investors could expect to see prices react. "Crypto markets may rally on the immediate risk-on impulse, and it may vindicate some who have been saying the Fed reversed course, after breaking the banks," they said. "But any near term crypto rally would find it hard to sustain growth if crypto simply pivots to a risk on trade."

☆ Venture capitalists have never been more divided, with accusations flying over who killed their beloved bank SVB. How long will the bad blood last?
▼ + stars: | 2023-03-16 | by ( Ben Bergman | ) www.businessinsider.com time to read: +5 min

But in the past week, VCs aired their dirty laundry for all the world to see. Still, VCs say they have no choice but to set aside their differences and work together in the future. "Silicon Valley Bank was such a great friend of VCs for so many years that it was just really disappointing to see so many VCs work so quickly to kill it." But in the past week, VCs aired their dirty laundry for all the world to see, criticizing those who they say triggered a $42 billion bank run that doomed SVB. There's been particular animus for Founder's Fund, the venture firm founded by billionaire Peter Thiel that backed Facebook and Airbnb.

☆ Bitcoin jumps 10% with crypto market topping $1 trillion as U.S. creates backstop for SVB depositors
▼ + stars: | 2023-03-13 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

In this article SBNYBTC.CM=ETH.CM= Follow your favorite stocks CREATE FREE ACCOUNTJakub Porzycki | Nurphoto | Getty ImagesCryptocurrencies rallied on Monday as the U.S. government moved to protect depositors of the collapsed Silicon Valley Bank and HSBC bought the lender's U.K. arm. Bitcoin was up nearly 10% at 3 a.m ET at $22,560.20, its highest level in 10 days, according to CoinDesk data. It has been a rollercoaster ride for crypto markets after the collapse last week of Silvergate Capital, a major lender to the crytpo industry. Then came the collapse of Silicon Valley Bank on Friday in what was the biggest banking failure since the 2008 financial crisis. That was followed on Sunday by the closure of Signature Bank , a major lender in the crypto industry, by U.S. regulators to stem any contagion to the broader banking sector.

☆ More than $70 billion wiped off crypto market in 24 hours as bitcoin drops 8% below $20,000
▼ + stars: | 2023-03-10 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

The cryptocurrency market saw more than $70 billion wiped off its value over the course of the 24 hours to 5:12 a.m. On Tuesday, U.S. Federal Reserve Chairman Jerome Powell indicated that interest rates may go higher —and stay higher — than expected. The raising of interest rates over the past year has weighed on risk assets such as stocks, and in particular cryptocurrencies. Banking worriesAnother major factor weighing on crypto prices is the collapse of Silvergate Capital, a major lender to the crytpo industry. Providing traditional banking services while also funding tech projects, it is considered a backbone of the venture capital industry in the U.S.

In papers filed with a state court in Manhattan, James is seeking a permanent injunction to stop KuCoin from operating in New York until it complies with the law. KuCoin trails Binance, Coinbase and Kraken in trading volume among cryptocurrency spot exchanges, according to the data company CoinMarketCap. Last month, James sued the CoinEx cryptocurrency platform for failing to register with the state. In January, 10 states including New York secured up to $24 million from the cryptocurrency company Nexo Inc, which they also accused of operating illegally. Reporting by Jonathan Stempel in New York; Editing by Diane Craft and Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

☆ As NFT trading surges, a 'golden key' prize from Yuga Labs' limited-time game sold for $1.6 million
▼ + stars: | 2023-03-03 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

A non-fungible token (NFT) collector just dropped more than $1 million on a virtual "golden key." Adam Weitsman, CEO of Upstate Shredding – Weitsman Recycling, purchased Yuga Labs' "Golden Key Sewer Pass" for 1,000 ETH, which was valued at about $1.6 million at the time of sale on Feb. 27, 2023. Jackson won the one-of-one, digital "golden key" after receiving the highest score on "Dookey Dash," Yuga Labs' web-based NFT game. Jackson also said that royalties would be paid in full to Yuga Labs. This seven-figure sale comes amid a surge in NFT trading and sales in early 2023, according to DappRadar's latest industry report.

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