Cryptocurrencies

Bitcoin trapped in fragile trading as hedge funds pivot to cash

The token is down about 50% from an all-time high of almost US$127,000 reached in early October

World Liberty issues the USD1 stablecoin, which has a market value of about US$5 billion.

Trump-linked World Liberty targets real estate as crypto slides

Real estate has been slower to move on-chain than other assets

Many banks say they are also mindful of digital assets’ potential to reshape customer behaviour, and want to stay at the forefront of development.

US banks build tokenised deposit network to guard their turf

The full service is expected to be available for customers of the banks involved in the fourth quarter

Bitcoin is down more than 45% from its October peak of just over US$126,000 and has repeatedly failed to sustain rebounds, a sign that speculative demand is thinning.

Bitcoin under pressure in Asia after Standard Chartered warning

The broader crypto market has shed nearly US$2 trillion in value over the same stretch

While the crypto-friendly administration has been seen as a boon for the industry, Bitcoin recently reached its longest monthly losing streak since 2018.

Crypto investor exodus weighs heavier on Bitcoin also-ran Ether

Both crypto tokens have seen billions in outflows from their ETFs since the early October crash

Armstrong’s wealth has fallen by more than US$10 billion since peaking seven months ago at US$17.7 billion, according to the Bloomberg Billionaires Index.

Coinbase CEO falls from list of world’s richest as crypto slides

Bitcoin is also down by about half since early October

Bitcoin’s slump from a peak of US$126,000 in October last year comes despite the backdrop of a crypto-friendly White House and surging institutional adoption.

Bitcoin falls below US$70,000 after wild roller-coaster ride

The move was still relatively tame compared with last week’s wild swings

Bitcoin prices briefly slumped 17% to 81.1 million won on Friday evening on Bithumb.

South Korean crypto firm accidentally sends US$44 billion in bitcoins to users

[SEOUL] South Korean cryptocurrency exchange Bithumb said on Saturday (Feb 7) it had accidentally given away more than US$40 billion worth of bitcoins to customers as promotional rewards, triggering a...

The Chinese authorities reiterated Beijing’s long-standing stance that cryptocurrencies including Bitcoin, Ether and stablecoins have no legal status equivalent to fiat money.

China bars unapproved issuance of renminbi stablecoins abroad

Beijing’s move comes at a time of elevated volatility in crypto markets