Cryptocurrency

ECB Prez Christine Lagarde says crypto ‘worth nothing’

European Central Bank President Christine Lagarde said crypto-currencies are “based on nothing” and should be regulated to steer people away from speculating on them with their life savings. Lagarde told Dutch television that she’s concerned about people “who have no understanding of the risks, who will lose it all and who will be terribly disappointed,…

Crypto-loving S Koreans bet on Luna rising from ashes, worrying r

Reckoning they have little to lose with prices so ridiculously low, South Korean speculators in recent days have piled into Luna, a cryptocurrency that lost 99.99% of its value last week after its paired stablecoin TerraUSD collapsed. Both tokens are affiliated with Terra, a blockchain platform co-founded by Korean developer Do Kwon and, according to…

Crypto price collapse offers hope for slowing climate change: Her

Cryptocurrencies like bitcoin were meant to be used as digital cash. Instead, they’ve become popular as speculative investments. As well as being resource-intensive and inherently wasteful, cryptocurrencies are also incredibly volatile. Prices for the largest cryptocurrencies, bitcoin and ethereum, have both dropped by over 55% in six months, leading some to suggest that regulation is…

Bitcoin back below $30,000; European regulators warn about crypto

Cryptocurrencies resumed their slide on Monday, giving up the gains they had eked out over the weekend, as regulators continued to circle. European officials reiterated warnings of risks posed by cryptocurrencies. Bitcoin fell 5% to around $29,700 on Monday in Asian trade, sliding alongside stocks because of worries about high inflation and rising interest rates….

Blockchain gaming industry concerned over TerraUSD, Luna crash

Game companies with products featuring virtual coins and other blockchain functionalities remain on heightened alert over adverse effects from the recent collapse of the TerraUSD and Luna cryptocurrencies, industry officials said on Monday. Cryptocurrencies operated by South Korean gaming companies for in-game purchases and trading have undergone volatile trading since May 10, when TerraUSD and…

Cryptocurrencies stabilise, bitcoin rallies after stablecoin coll

Cryptocurrencies steadied on Friday, with bitcoin recovering from a 16-month low after a volatile week dominated by the collapse in value of TerraUSD, a so-called stablecoin. Crypto assets have been swept up in broad selling of risky investments on worries about high inflation and rising interest rates. But broader financial markets have so far seen…

Crypto collapse intensifies as stablecoin Tether slides below dol

By Elizabeth Howcroft, Gertrude Chavez-Dreyfuss and Hannah Lang LONDON/NEW YORK (Reuters) – The meltdown in TerraUSD, one of the world’s largest stablecoins, rippled through cryptocurrency markets on Thursday, pushing another major stablecoin Tether below its dollar peg and sending bitcoin to 16-month lows. Cryptocurrencies have been swept up in a sell-off in risk assets, which…