Author: Forbes

The combined bitcoin and cryptocurrency market has lost around $1 trillion since November in a crypto price crash that’s caused turmoil for traders. The bitcoin price has crashed from a peak of almost $70,000 per bitcoin less than two months ago to lows of just over $40,000 today—a decline of around 40%. Meanwhile, other major cryptocurrencies ethereum, Binance’s BNB, solana, cardano and XRP have all lost a similar amount. The crypto market’s decline from $3 trillion to $2 trillion, as measured by CoinMarketCap, comes after a period of huge growth for cryptocurrency prices that saw the market swell from just $200…

The nascent crypto ecosystem remains unregulated in the United States, which poses some serious risk for crypto traders… and, evidently, the planet. While crypto had quite the popular year in 2021, there’s a lot about which investors should be mindful.  It’s no secret that the world of cryptocurrencies is a volatile one. Just this week, for example, top coins like Bitoin and Ethereum, as well as popular meme token Dogecoin, dropped drastically. The declines came on the heels of the Federal Reserve’s meeting minutes, suggesting that its COVID crisis-spurred monetary policy may soon meet its end. And, when the Central Bank announced this acceleration of…

Seattle-based Makara wants to decrypt crypto making it more approachable and less confusing for new investors. Makara is the first-ever SEC-registered robo-investor for crypto, and they offer automated services for investors who want passive exposure to cryptocurrency via thematic baskets.  I recently had the chance to chat with Sadie Raney, co-founder of Makara. Raney shared what millennial investors need to know about crypto, concerns about the environmental impact, Bitcoin’s potential, crypto security, and more. Hi Sadie, welcome! Can you start with your background in crypto? The first time I ever bought crypto was in 2015 at a prior company (Blue…

Bubbles in risk assets, including Bitcoin and a lot of other speculative nonsense, are finally bursting, showing why intrinsic value matters after all—and why the laws of economics, though recently suspended, have not been repealed. After a long period of time where a value strategy looked tortoise-like (losing ground to the broad market, tech stocks, and every other hare-like momentum strategy), things appear to be changing. Fast. Last year, value plodded along behind the broad market indices and international stocks (the greatest store of ignored value) did poorly. But since December, a sea change has taken place. Only time will…

Ether prices have suffered some notable declines recently, dropping to their lowest in more than three months today. The second-largest digital currency by market value declined to as little as $3,300.44 this morning, CoinDesk data shows. At this point, the cryptocurrency was trading at the least since October 4, additional CoinDesk figures reveal. Subsequently, the digital asset bounced back, approaching $3,500 this afternoon, but failing to reach that point. Ether then surrendered much of the gains it made since this morning, trading at roughly $3,350 at the time of this writing. [Ed note: Investing in cryptocoins or tokens is highly speculative and…

This week, Bitcoin and cryptocurrency prices sank after the Fed released the minutes of its December meeting, which revealed a U-turn in its policy that might not bode well for crypto. As of now, the Bitcoin price is down 9% to $38,040 for the week, tumbling from around $41,500 after the news broke. The world’s biggest crypto shed more than one-third of its value from its November peak. Meanwhile, the rest of the crypto market followed Bitcoin’s lead. The Ethereum (ETH) price is down 10%, Binance Coin (BNB) slipped 11.5%, and Solana’s (SOL) price cratered 14%. What’s the fuss? At…

When Ubisoft released a collection of limited edition non-fungible tokens (NFTs) inside of military shooter game Ghost Recon Breakpoint in December, it should have been a watershed moment. The French company behind popular franchises Assassin’s Creed and Far Cry became the first major publisher to include NFTs in a title, what might have heralded a monumental shift in using blockchain technology in gaming. Instead it was a dramatic blunder and the blowback was swift. Players complained about the 600 hours of playing time (almost a month of playing 24-hours a day) needed to earn just one free item–a cosmetic helmet for in-game avatars. Attempts to drive revenue were even more dismal: one report said just 15…

One of the appeals of using Bitcoin and other cryptocurrencies are that the transactions are both secure and private. This will not be the case after December 31, 2022. This is because the Infrastructure Investment and Jobs Act of 2021 (IIJA) of Nov. 15, 2021 includes reporting requirements requiring cryptocurrency exchanges to report cryptocurrency transactions on form 1099 starting in 2023. Currently, whenever you sell stock or other securities, you receive a Form 1099-B at the end of the year from your broker. Your broker uses that form to report details of transactions such as sale proceeds, relevant dates, your tax basis…

Bitcoin and cryptocurrency prices have suddenly gone into freefall following a period low volatility since the turn of the year. The bitcoin price has lost $3,000 in a matter of hours, dropping from over $47,000 per bitcoin to under $44,000. The bitcoin price is now down almost 40% from its all-time high of almost $70,000 set in November. Meanwhile, other major coins— including Ethereum, Binance’s BNB, Solana, Cardano and XRP—have also fallen sharply losing between 3% and 5% and wiping billions of dollars of value from the combined $2.1 trillion crypto market. Cryptocurrency prices fell along with stock markets after the…

Scammers convinced a North Carolinian to cash in his bank CDs and transfer the money into bitcoin held in a Coinbase account. The banks didn’t block the suspicious transactions, but the crypto exchange froze the funds. In late August, an elderly Asheville, North Carolina man received a terrifying call from someone claiming to be from the “Office of the Inspector General”. The caller warned the senior’s personal information had been used to facilitate a drug trafficking and money laundering scheme and all his assets would be frozen until the government could verify he wasn’t part of the scheme. Doing so…