Crypto market turmoil not over yet, SEC’s Gensler predicts

Find out what clicks on FoxBusiness.com. WASHINGTON — Securities and Exchange Commission Chairman Gary Gensler said Wednesday he fears more investors will be harmed in cryptocurrency markets, following the implosion this month of the stablecoin known as the name of TerraUSD. “I think a lot of these tokens will fail,” Gensler told reporters after a … Read more

Crypto Crash Unlikely to Reduce Climate Impact, Expert Says

The crypto crash won’t reduce the sector’s climate impact any time soon, an economist has warned, even though the environmental footprint of digital currencies is in theory defined by their market value. “Unless bitcoin collapses further, there is no reason to expect a decrease in environmental impact,” said Alex de Vries, data scientist at the … Read more

‘Stablecoin’ Didn’t Kill Crypto, But It Was a Narrow Breakout

Stablecoins are an essential part of cryptography. Speculation that the collapse of one of the biggest experiments in decentralized finance could spell the death of crypto seems to have been overblown. If Terra’s implosion had occurred after a few more months of growth, the resulting market impact could have created a DeFi version of 2008 … Read more

Bitcoin Tumbles, Stablecoin Plunges in Crazy Crypto Week

NEW YORK (AP) — It’s been a crazy week in crypto, even by crypto standards. Bitcoin plummeted, stablecoins were anything but stable, and one of the most prominent companies in the crypto industry lost a third of its market value. Here is a look at some major developments in cryptocurrencies this week: Bitcoin The price … Read more

Crypto Biz: Luna’s Meltdown Will Continue In Infamy, May 5-11, 2022

Terra’s collapse has forced cryptocurrency investors to ask a question they never thought possible: Will TerraUSD (UST) or Terra (LUNA) hit $1.00 first? The magnitude of this question is a reminder of how quickly things can change in crypto. While Terraform Labs co-founder Do Kwon remains defiant, many in the industry are beginning to distance … Read more

Why the black sheep of the crypto world is freaking investors out

This week, a so-called popular algo coin collapsed, wiping out billions of dollars in value in just days. The coin, called TerraUSD, is designed to hold its value at $1, forever and ever, amen. Instead, it fell as low as 23 cents on Wednesday before recovering ground. It was hovering around 60 cents early Thursday. … Read more

$3.5 billion bet on bitcoin becoming a “reserve currency” for crypto is put to the test

Pedestrians walk past a Bitcoin cryptocurrency exhibit on February 15, 2022 in Hong Kong, China. Anthony Kuan | Getty Images A multi-billion dollar bet that bitcoin can act as a “reserve currency” for the crypto-economy is already being tested as controversial stablecoin UST struggles to maintain its peg at $1. UST fell nearly 99 cents … Read more