Cryptocurrency

Minneapolis CNN Business  —  The economy added 315,000 jobs in August, exceeding economists’ expectations but far below July’s blowout report, when employment surged by a revised 526,000 positions. The nation’s unemployment rate rose to 3.7% from 3.5%, and the labor…

Compass Mining, a Bitcoin (BTC) mining rig service, was notified that the owner of lucrative mining hubs 2 and 3 located in Georgia would shut down amid rising energy costs.  Since Compass sells Bitcoin mining hardware and contracts for facilities, it did not have an influence over the decision. According to a company-wide email on Thursday,…

The Los Angeles Lakers arena sponsoring and Matt Damon-endorsed cryptocurrency exchange Crypto.com accidentally transferred $10.5 million AUD (~$7.2 million USD) to an Australian customer instead of issuing a standard $100 AUD (~$68 USD) due to a pretty unfortunate typo. According to Australian news outlet 7News (via CoinTelegraph), the…

SymbolPriceChange%ChangeUSO$78.692.843.74CVX$164.631.220.75XOM$100.122.252.30Oil prices dipped on Tuesday , paring some gains from the previous session, as the market feared that more aggressive interest rates hikes from central banks may lead to a global economic slowdown and soften fuel demand. Brent crude futures for October settlement…

Nearly 900 years ago, China’s Song dynasty government, at the time the most advanced civilization in the world, issued the world’s first centralized paper currency. When Marco Polo encountered money made from the “bark of trees” circulating universally within the Mongol empire during the Yuan Dynasty, one hundred years later, he…

History shows that stocks perform better than any other asset class over time. While gold, oil, and housing may beat the market for short periods, over the past century equities handily trump all else. That holds true with cryptocurrencies as well, which had stocks eating their dust the past few years with phenomenal gains as…

Bitcoin was trading close to $20,000 to start the weekend, as traders reacted to comments from U.S. Fed Chair Jerome Powell during Friday’s Jackson Hole summit. Powell warned that “there will be some pain ahead,” as the Fed attempts to bring the rate of inflation down. Ethereum was below $1,500 on Saturday. Bitcoin Bitcoin (BTC) was…

The crypto world has experienced an increase in Ponzi schemes since 2016 when the market gained mainstream prominence. Many shady investment programs are designed to take advantage of the hype behind cryptocurrency booms to beguile impressionable investors.Ponzi schemes have become rampant in the sector primarily due to the decentralized nature…

A widely followed crypto analyst and trader is expressing short-term bearish sentiment for the leading digital asset Bitcoin (BTC). Pseudonymous analyst SmartContracter tells his 210,600 Twitter followers that Bitcoin is set to hit a new low, after which it will spark a rally. “On the lower time frames, I think we have at least…

Comment on this storyCommentThe U.S. government’s latest effort to crack down on the illicit use of cryptocurrency by rogue foreign regimes and criminals is running into resistance from the industry itself, including one of its largest and most influential players.Earlier this month, the Treasury Department sanctioned Tornado Cash, a…