Bitcoin

Wall Street embraces bitcoin and ethereum with the launch of new crypto indexes | Currency News | Financial and Business News




Investors can add bitcoin and ethereum to their portfolios through new cryptocurrency indexes available on Wall Street trading floors.

S&P Dow Jones on Tuesday announced the launch of three new indices tracking the performance of the two digital currencies – the S&P Bitcoin Index, S&P Ethereum Index, as well as its S&P Cryptocurrency MegaCap Index.

Additional cryptocurrencies will be added in the future, S&P Dow Jones said in a statement. The listed crypto indexes will track data from New-York based virtual-currency company Lukka.

The S&P Global division first announced

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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

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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

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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%

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Stock Market Rally Retreats, Bitcoin Dives Amid Biden Capital Gains Tax Plan; Netflix, Snap, United Airlines In Focus

The stock market rally suffered declines, in part on reports that President Joe Biden will propose nearly doubling the capital gains tax rate on the wealthy. But the Dow Jones, S&P 500 and Nasdaq all closed the week only slightly lower, while the Bitcoin price plunged. Medical plays such as Tenet Healthcare (THC) and Intuitive Surgical (ISRG) soared as earnings rebound with elective procedures. Snap (SNAP) and ASML (ASML) also were earnings winners, while Netflix (NFLX) and United Airlines (UAL) sold off on results.




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Stocks Retreat Amid

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Bitcoin (BTC USD) Cryptocurrency Price Selloff Was a Long Time Coming

Bitcoin has rewarded investors with massive gains all year, but now the cryptocurrency’s famous volatility is back.

The token plunged below $50,000 in Friday trading for its worst week in almost two months as a proposed tax hike for wealthy Americans intensifies an industry selloff.

While the digital token is known for its big price swings, this latest bout has been particularly head-spinning after the all-time high notched on April 14.

Still, talk to investors and analysts and many will say it was a long time coming — with last week’s rally in the satirical Dogecoin and the eye-watering valuation

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Bitcoin? Etherium? Dogecoin? Your guide to the crypto coins that matter

With new “coins” cropping up all the time, it’s hard to keep track of what’s worth paying attention to and what might not be here to stay.

Meanwhile, major companies are jumping on the bandwagon: Tesla announced earlier this year that customers may buy vehicles with bitcoin. Digital payment platform Square (SQ) and PayPal (PYPL), which also owns transfer app Venmo, now also allow customers to use cryptos.
Ranked by their market capitalization in US dollars, the biggest cryptocurrencies in the world are bitcoin, Ethereum, Binance Coin, XRP and Tether, according to CoinMarketCap.

Their market … Read More

Bitcoin (BTC USD) Cryptocurrency Price Retreats to Weekend’s Flash Crash Lows

Bitcoin headed for its worst week in almost two months as a proposed capital-gains tax increase for wealthy Americans intensified the volatility whiplashing the world’s largest cryptocurrency.

A fresh bout of selling on Friday drove Bitcoin down as much as 7.9% to $47,525 — below its 100-day moving average — as it continued to take out key technical levels. Wall Street analysts warn of further losses for the notoriously volatile currency that hit a record high of $64,870 on April 14 ahead of Coinbase Global Inc.’s listing, before succumbing to an unexplained weekend swoon.

This week’s roughly 20% rout marks

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Bitcoin falls below $50k as Biden tax plans spark crypto sell-off

Bitcoin crashed 10% to $49,332 (£68,482) on Friday morning in London, Ethereum slumped 11% to $2,227 after hitting record highs of £2,613 on Thursday. Photo: Getty

Crypto markets pulled back sharply after reports US president Joe Biden is planning to raise capital gains tax for the wealthy.

Bloomberg reported on Thursday that Biden is considering nearly doubling tax to as high as 39.6%, an increase from the current 20%. Cryptocurrency investors face higher taxes if Biden presses ahead. 

Bitcoin (BTC-USD) crashed 10% to $49,332 (£68,482) on Friday morning in London, Ethereum (ETH-USD) slumped 11% to $2,227 after hitting record highs

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