How Not to Run a Cryptocurrency ExchangeAt Japan's Liquid exchange, recently acquired by FTX, warnings were ignored, breaches unreported and employees berated and cursed at, insiders say.The Takeaway:From the outside, Japanese exchange Liquid looks like a crypto success story. Trading powerhouse FTX recently acquired it for an undisclosed price estimated to be somewhere between $140 million and $200 million.But former Liquid employees describe a chaotic workplace (even by crypto standard...

How Not to Run a Cryptocurrency ExchangeAt Japan's Liquid exchange, recently acquired by FTX, warnings were ignored, breaches unreported and employees berated and cursed at, insiders say.The Takeaway:From the outside, Japanese exchange Liquid looks like a crypto success story. Trading powerhouse FTX recently acquired it for an undisclosed price estimated to be somewhere between $140 million and $200 million.But former Liquid employees describe a chaotic workplace (even by crypto standard...

The last time the largest cryptocurrency by market cap traded under $30,000 was in July 2021. Bitcoin (BTC) fell below $30,000 on Tuesday as both traditional financial markets and cryptocurrencies suffered from a sell-off caused by the U.S. Federal Reserve's aggressive monetary tightening as well as recession fears. The latest decline left bitcoin at a 10-month low and its lowest price this year. The last time the largest cryptocurrency by market cap fell below the $30,000 threshold was ...

The last time the largest cryptocurrency by market cap traded under $30,000 was in July 2021. Bitcoin (BTC) fell below $30,000 on Tuesday as both traditional financial markets and cryptocurrencies suffered from a sell-off caused by the U.S. Federal Reserve's aggressive monetary tightening as well as recession fears. The latest decline left bitcoin at a 10-month low and its lowest price this year. The last time the largest cryptocurrency by market cap fell below the $30,000 threshold was ...

Some analysts remain cautious and expect lower price returns for bitcoin over the next few months. Most cryptocurrencies traded higher on Friday as bearish sentiment waned. It appears that short-term buyers have returned from the sidelines, although technical indicators show limited upside from here. Bitcoin (BTC) returned toward the $30,000 price level and was up by as much as 5% over the past 24 hours. Still, momentum signals remain negative on the charts after BTC's 17% dip over the p...

Some analysts remain cautious and expect lower price returns for bitcoin over the next few months. Most cryptocurrencies traded higher on Friday as bearish sentiment waned. It appears that short-term buyers have returned from the sidelines, although technical indicators show limited upside from here. Bitcoin (BTC) returned toward the $30,000 price level and was up by as much as 5% over the past 24 hours. Still, momentum signals remain negative on the charts after BTC's 17% dip over the p...

Prices are rising at a time of pervasive distrust in government to fix the problem. That leaves the door open to bitcoin, the ultimate anti-inflation hedge. They called it the Great Moderation. After Federal Reserve governor Paul Volcker broke the back of U.S. inflation in the 1980s, the U.S. and other western economies enjoyed a blissful, multi-decade period of benign consumer price trends, with modest, predictable increases averaging around 2% per year. It was a key contributor to a positiv...

Prices are rising at a time of pervasive distrust in government to fix the problem. That leaves the door open to bitcoin, the ultimate anti-inflation hedge. They called it the Great Moderation. After Federal Reserve governor Paul Volcker broke the back of U.S. inflation in the 1980s, the U.S. and other western economies enjoyed a blissful, multi-decade period of benign consumer price trends, with modest, predictable increases averaging around 2% per year. It was a key contributor to a positiv...

Weak sentiment around stablecoins may have contributed to USDT’s depegging this morning. Tether (USDT) snapped to 97 cents in Asian hours, losing its parity with U.S. dollars at writing time. It slumped to as low as 96 cents on Coinbase. Separately, bitcoin (BTC) lost the $27,000 support level and dropped to $25,400, reaching levels previously seen in December 2020. Traders sold USDT for U.S. dollars amid poor sentiment for stablecoins in crypto communities. TerraUSD (UST) earlier this week d...

Weak sentiment around stablecoins may have contributed to USDT’s depegging this morning. Tether (USDT) snapped to 97 cents in Asian hours, losing its parity with U.S. dollars at writing time. It slumped to as low as 96 cents on Coinbase. Separately, bitcoin (BTC) lost the $27,000 support level and dropped to $25,400, reaching levels previously seen in December 2020. Traders sold USDT for U.S. dollars amid poor sentiment for stablecoins in crypto communities. TerraUSD (UST) earlier this week d...

In 2009, Satoshi Nakamoto encoded a mission statement for the industry in Bitcoin's first block. Essentially, crypto should first do no harm. "But they, our ancestors, became arrogant and stiff-necked, and they did not obey your commands. They refused to listen and failed to remember the miracles you performed among them. They became stiff-necked and in their rebellion appointed a leader in order to return to their slavery.” (Nehemiah 9:16-21) Bitcoin’s genesis block is historic, not jus...

In 2009, Satoshi Nakamoto encoded a mission statement for the industry in Bitcoin's first block. Essentially, crypto should first do no harm. "But they, our ancestors, became arrogant and stiff-necked, and they did not obey your commands. They refused to listen and failed to remember the miracles you performed among them. They became stiff-necked and in their rebellion appointed a leader in order to return to their slavery.” (Nehemiah 9:16-21) Bitcoin’s genesis block is historic, not jus...

For the next five years, trends tied to the global NFT boom continue to factor in the growing involvement of mainstream influencers, gaming communities and the rising demand for digital artworks. Reflecting the growing interest in the nonfungible token (NFT) space among today’s investors, new research predicts that the existing $3 billion market size will reach $13.6 billion by the end of 2027. For the next five years, the key factors tied to the global NFT boom continue to factor in the grow...

For the next five years, trends tied to the global NFT boom continue to factor in the growing involvement of mainstream influencers, gaming communities and the rising demand for digital artworks. Reflecting the growing interest in the nonfungible token (NFT) space among today’s investors, new research predicts that the existing $3 billion market size will reach $13.6 billion by the end of 2027. For the next five years, the key factors tied to the global NFT boom continue to factor in the grow...

Asset-backed projects want regulators to know that not all stablecoins are created equal. As the cryptocurrency industry takes stock of the dramatic unraveling of the UST project, those that build and maintain stablecoins are at pains to point out that these instruments aren't created equal. That message needs repeating, says Dante Disparte, chief strategy officer and head of global policy at Circle, creator of the USDC stablecoin, because it’s not obvious to people outside of crypto and...

Asset-backed projects want regulators to know that not all stablecoins are created equal. As the cryptocurrency industry takes stock of the dramatic unraveling of the UST project, those that build and maintain stablecoins are at pains to point out that these instruments aren't created equal. That message needs repeating, says Dante Disparte, chief strategy officer and head of global policy at Circle, creator of the USDC stablecoin, because it’s not obvious to people outside of crypto and...

Digital-asset analysts warned late last week that price-chart trends had turned bearish for the largest cryptocurrency. Bitcoin (BTC) fell to a three-month low Sunday, days after crypto analysts warned that price charts were sending bearish signals.The bitcoin price was around $34,500 as of press time, down 3.8% over the past 24 hours.BTC price has fallen for four straight days.Early Sunday the largest cryptocurrency slid to $33,710, the lowest since Jan. 24.If price falls below $32,951, it w...

Digital-asset analysts warned late last week that price-chart trends had turned bearish for the largest cryptocurrency. Bitcoin (BTC) fell to a three-month low Sunday, days after crypto analysts warned that price charts were sending bearish signals.The bitcoin price was around $34,500 as of press time, down 3.8% over the past 24 hours.BTC price has fallen for four straight days.Early Sunday the largest cryptocurrency slid to $33,710, the lowest since Jan. 24.If price falls below $32,951, it w...

Bitcoin (BTC) has fallen 40% since April, and this is no longer due to its correlation with equity markets, Morgan Stanley (MS) said in a research report dated May 12.“Hyped and leveraged areas of crypto, such as decentralized finance (DeFI) and crypto-backed stablecoins, are seeing mass liquidations, as it is becoming clearer that all the elevated prices were traded on speculation, with limited real user demand,” analysts led by Sheen Shah wrote.Non-fungible tokens (NFT’s) and digital land h...

Bitcoin (BTC) has fallen 40% since April, and this is no longer due to its correlation with equity markets, Morgan Stanley (MS) said in a research report dated May 12.“Hyped and leveraged areas of crypto, such as decentralized finance (DeFI) and crypto-backed stablecoins, are seeing mass liquidations, as it is becoming clearer that all the elevated prices were traded on speculation, with limited real user demand,” analysts led by Sheen Shah wrote.Non-fungible tokens (NFT’s) and digital land h...

Data suggests that many traders are moving their assets from DeFi protocols; bitcoin rallies after falling below $26,000 in Thursday trading. Good morning. Here’s what’s happening: Prices: Bitcoin struggles; altcoins fare worse. Insights: Terra's implosion threatens crypto lending protocols. Technician's take: BTC is oversold and could see a short-term relief bounce. Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis. And sig...

Data suggests that many traders are moving their assets from DeFi protocols; bitcoin rallies after falling below $26,000 in Thursday trading. Good morning. Here’s what’s happening: Prices: Bitcoin struggles; altcoins fare worse. Insights: Terra's implosion threatens crypto lending protocols. Technician's take: BTC is oversold and could see a short-term relief bounce. Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis. And sig...

The U.S. crypto exchange's trading volume declined 44% from the fourth quarter. Coinbase Global (COIN) reported first-quarter revenue that missed analyst estimates, while its overall trading volumes fell 44% from the fourth quarter. Revenue for the first quarter was $1.17 billion, compared with analysts' average estimate of $1.5 billion, according to FactSet. Coinbase also reported a quarterly net loss of $430 million, compared with a profit of $840 million in the fourth quarter. Tr...

The U.S. crypto exchange's trading volume declined 44% from the fourth quarter. Coinbase Global (COIN) reported first-quarter revenue that missed analyst estimates, while its overall trading volumes fell 44% from the fourth quarter. Revenue for the first quarter was $1.17 billion, compared with analysts' average estimate of $1.5 billion, according to FactSet. Coinbase also reported a quarterly net loss of $430 million, compared with a profit of $840 million in the fourth quarter. Tr...