Staking, Bridges, WAGMI and More: a Crypto Glossary
Just when you thought you understood the world of crypto, some brain-twisting innovation comes along and you’re lost again. It doesn’t help that a tight-knit community of crypto evangelists throws around buzzwords and slang that are like a foreign language to the uninitiated. Bloomberg has unpacked some of those concepts here.washingtonpost.com
Why Yellen, Powell Cast a Wary Eye on Stablecoins
It may seem paradoxical, but in the entirety of the wild and woolly world of cryptocurrencies, what some of the top financial regulators are most worried about is the flavor of digital money designed to be the safest. Even the name, stablecoin, exudes, well, stability. But stablecoins in general and the giant among them, Tether, in particular have drawn increasing scrutiny amid worries that they could pose risks to cryptocurrency users and even to the global financial syscrash in valueem, leadinwashingtonpost.com
What Are Stablecoins? Why Did TerraUSD Go So Wobbly?
It may seem paradoxical, but in the entirety of the wild and woolly world of cryptocurrencies, what some of the top financial regulators are most worried about is the flavor of digital money designed to be the safest. Even the name, stablecoin, exudes, well, stability. But stablecoins in general and the giant among them, Tether, in particular have drawn increasing scrutiny amid worries that they could pose risks to cryptocurrency users and even to the global financial system, leading U.S. financwashingtonpost.com
Biden hits 'ultra-MAGA' GOP as inflation woes rise
President Joe Biden warns voters unhappy with soaring inflation and his stalled domestic agenda against turning power over to “ultra-MAGA” Republicans. The president is trying to cast ex-President Donald Trump and followers as political foils. (May 10)news.yahoo.com
Bitcoin trial: Defendant wins dispute over $50B in Bitcoin
Craig Wright, a computer scientist who claims to be the inventor of Bitcoin, prevailed in a civil trial verdict Monday against the family of a deceased business partner that claimed it was owed half of a cryptocurrency fortune worth tens of billions.
El Salvador president wants Bitcoin as legal tender
El Salvador President Nayib Bukele has announced in a recorded message played at a Bitcoin conference in Miami that next week he will send proposed legislation to the country’s congress that would make the cryptocurrency legal tender in the Central American nation.
Fed's Powell: Public should understand risks of Bitcoin
Powell said Monday, March 22, 2021, that the U.S. public needs to understand the risks behind Bitcoin and other crypto currencies, even as the central bank itself is studying the potential costs and benefits of a digital dollar. (AP Photo/Susan Walsh, Pool, File)WASHINGTON – Federal Reserve Chair Jerome Powell said Monday that the U.S. public needs to understand the risks behind Bitcoin and other cryptocurrencies, even as the central bank itself is studying the potential costs and benefits of a digital dollar. “They’re highly volatile, see Bitcoin, and therefore not really useful as a store of value,” Powell said in remarks to a virtual summit hosted by the Bank for International Settlements. There is also the risk that a digital currency could be held by individuals electronically and could therefore bypass banks. “Private stable coins are not going to be an appropriate substitute for a sound monetary system based in central bank money.”
Cost of a single Bitcoin exceeds $50,000 for first time
– The seemingly unstoppable rise of Bitcoin continued Tuesday with the cost of a single unit of the digital currency rising above $50,000 for the first time. Bitcoin is rallying as more companies signal the digital currency could eventually gain widespread acceptance as a means of payment. Some businesses also accept bitcoin, but its popularity has stalled out in recent years. Overstock.com appears to accept Bitcoin for most listings on its website, including cameras, vacuums and clothes. When this bubble bursts and at what price Bitcoin settles at is anyone’s guess,” Reiners said.
Bitcoin, seemingly omnipresent, crosses the $50,000 mark
The Bitcoin logo appears on the display screen of a crypto currency ATM at the Smoker's Choice store, Tuesday, Feb. 9, 2021, in Salem, N.H. The price of Bitcoin has soared over the past months. – After a wild week in which Bitcoin soared to new heights, Bitcoin crossed the $50,000 mark early Tuesday. Bitcoin rallied throughout the as more companies signaled the volatile digital currency could eventually gain widespread acceptance as a means of payment for goods and services. Bitcoin has been mostly seen as a store of value, like gold, with very few places to spend it.
Tesla buys $1.5B in Bitcoin, will accept as payment soon
Tesla says it has invested more than $1 billion in Bitcoin and will accept the digital currency as payment for its electric vehicles. Electric automaker Tesla said Monday that it has invested around $1.5 billion in Bitcoin and it plans to begin accepting the digital currency as payment for its high-end vehicles soon. The price of Bitcoin soared 15.4% to around $44,500 Monday in reaction to Tesla's announcement, according to CoinBase. Bitcoin has drawn enthusiasts for its scarcity and security, but the volatile digital currency still is not widely used to pay for goods and services. It's mostly been a store of value, like gold, with some limited merchants like Overstock accepting bitcoin for payment.
Bitcoin crosses $40K mark, doubling in less than a month
Bitcoin has crossed the $40,000 mark, extending on a huge rally that started three months ago, Thursday, Jan. 7, 2021. Now only a few days into 2021, the price of bitcoin has crossed $40,000. Nothing's new with the digital currency in the month since it crossed $20,000 — there's been no major change in how it can be used. The digital currency made its big Wall Street debut in December 2017, when the major futures exchanges rolled out bitcoin futures. The currency's value plunged sharply in 2018, and by December of that year Bitcoin was worth less than $4,000 a coin.