Crypto Currency

Ethereum cryptocurrency passes $4,000 for the first time

On May 5, 2020, one Ether token was worth $186. One year later, on Sunday night, the cryptocurrency hit $4,000 for the first time, a rise of over 2,100%. Though Dogecoin is sucking up most of the world’s cryptocurrency attention, it’s been a huge May for Ethereum already, as Sunday’s milestone comes just a week since the cryptocurrency hit $3,000 for the first time. 

a close up of a logo: Cryptocurrency has captured the attention of more investors this year. Getty Images

© Provided by CNET
Cryptocurrency has captured the attention of more investors this year. Getty Images

Ether is a cryptocurrency minted on the Ethereum blockhain. Bitcoin, the most known currency, is built on its own, separate

Read More

As Scrutiny of Cryptocurrency Grows, the Industry Turns to K Street

The board of advisers at the digital chamber is stuffed with former federal regulators, including a former member of Congress and a recent chairman of the Commodity Futures Trading Commission, J. Christopher Giancarlo, who was named to the board of BlockFi, a financial services company that tries to link cryptocurrencies with traditional wealth managers.

Max Baucus, the Democratic former chairman of the Senate Finance Committee, and Jim Messina, a former top Obama adviser, also have recently been named to senior industry posts.

Lobbying disclosure records show that at least 65 contracts as of early 2021 addressed industry matters

Read More

Tesla Reveals $101 Million Bitcoin Profit, Still Holds $1.3 Million

  • Tesla says it cashed out $272 million in bitcoin in the first quarter of 2021. 
  • The company made $101 million in profits from the sale, it said Monday.
  • Tesla disclosed the sale as part of its first-quarter earnings, which showed continued profitability. 
  • See more stories on Insider’s business page.

Tesla made a splash when it announced that it had bought $1.5 billion worth of bitcoin in February — and it’s already profited more than $100 million from the investment. 

Elon Musk’s automaker on Monday said that it sold $272 million worth of digital assets during the first three months of

Read More

Turkish bitcoin exchange Vebitcoin collapses amid crypto crackdown

A Bitcoin sign is seen at the entrance of a cryptocurrency exchange office on April 16, 2021 in Istanbul, Turkey.

Chris McGrath | Getty Images

LONDON — A second cryptocurrency exchange has collapsed in Turkey amid a crackdown on the industry.

The platform, Vebitcoin, said in a brief statement on its website that it has ceased all activities after facing financial strain and that it would update clients on the situation as soon as possible.

Days earlier, Thodex, went offline with its CEO reportedly leaving the country. Local media reports say Thodex founder Faruk Fatih Ozer flew to Albania, taking

Read More

Dogecoin: Will the recent Robinhood app change help the cryptocurrency?

The Robinhood app will soon make a change that could help Dogecoin investors spend the money they’ve earned by investing in the cryptocurrency.

What Robinhood did for Dogecoin

Robinhood CEO Vlad Tenev said the Robinhood app — which allows people to trade and invest in cryptocurrencies — will try to make it so that people can easily withdraw and deposit cryptocurrency, according to Business Insider.

This is in reference to Dallas Mavericks owner Mark Cuban, who said Dogecoin’s biggest problem is that the people who invested in it can’t spend or withdrawn their holdings from Robinhood.

  • “The greatest inhibitor
Read More

What Is Chainlink and Why Is It Important in the World of Cryptocurrency?

gopixa /

Blockchain has seen a staggering rise in popularity since Bitcoin, the first cryptocurrency, launched in 2010. Blockchain has a number of advantages, including decentralization and security. The demand for a decentralized currency has catapulted Bitcoin and other cryptocurrencies to worldwide popularity.

Read: Bitcoin Cash (BCH): How’s It Differ From Bitcoin and What’s It Worth?

But blockchain has its limitations. These systems are inherently closed off from the rest of the world, which is good for security and integrity but also limits the input data they can accept.

Thus, there is a need for a sort of bridge

Read More

Bitcoin ($BTC) Cryptocurrency: JPMorgan Plans Fund for Wealthy

Follow us @crypto for our full coverage.

JPMorgan Chase & Co. is preparing to offer a Bitcoin fund to wealthy clients, the latest sign that Wall Street is warming to the largest cryptocurrency after it soared in recent months.

The actively managed fund will be available as soon as this summer, CoinDesk reported Monday, citing sources familiar with the plans. NYDIG will be the custody provider, a person with knowledge of the situation said, asking not to be identified because the decision hasn’t been made public.

Spokespeople for JPMorgan and NYDIG declined to comment.

Bitcoin rose as much as 12%

Read More

Crypto definitions: A beginner’s guide to cryptocurrency lingo

Bitcoin is a cryptocurrency created in 2009 by an unknown person (or people) using the alias Satoshi Nakamoto. Unlike traditional currencies such as the US dollar, bitcoin isn’t controlled by a bank or government. Bitcoin is by far the most valuable and popular cryptocurrency in use today.

A blockchain is a digital ledger and the key technology underpinning most cryptocurrencies, non-fungible tokens (more on those later) and other unique digital items.

Blockchain can be used to store all kinds of information, but so far its most common use is in recording cryptocurrency transactions. Once a transaction is made, it’s entered

Read More

Dogecoin skyrockets after Elon Musk labels himself ‘Dogefather’

Elon Musk, founder of SpaceX and Tesla. Photo: Brendan Smialowski/AFP via Getty Images

Dogecoin (DOGE) price surged as much as 20% on Wednesday after Tesla (TSLA) boss Elon Musk called himself the “Dogefather” on Twitter (TWTR) ahead of his appearance on US comedy show SNL.

He tweeted “The Dogefather” to his 52 million followers, “SNL May 8.”

The meme-inspired crypto rose from $0.26 to $0.32, pushing it back to record highs it enjoyed two weeks ago, after declines last week.  

The cryptocurrency, which first started up as a joke in 2013, now has a market cap of more than $50bn

Read More