Crypto News
From Steam Engines to Ethereum Staking: How Insurance Enables Innovation
The crypto industry is on the precipice of mainstream adoption. But, like many exciting innovations from previous eras, this technology brings new risks. And these new risks must be mitigated before crypto can achieve its full potential.During the Industrial Revolution, steam power drove immense progress but carried deadly risks. Steam boilers exploded with alarming regularity — at one point nearly once every four days, wreaking havoc on lives and property. Early insurers stepped in to make this technology safer to scale. By providing financial guarantees against catastrophe, insurance turned what many saw as “acts of God” into manageable risks. Investors’ increased confidence allowed them to commit capital into steam-powered ventures, helping that breakthrough technology of the time further evolve to...
Toncoin Soars Amid Telegram Musk xAI Deal, $1.5 Billion Bond Sale Report
The Telegram-linked altcoin surged after The Wall Street Journal reported Telegram is courting investors such as BlackRock as the company looks to raise $1.5 billion.Source link
US Labor Department Rescinds Biden-Era Crypto Warning for Retirement Plans
The U.S. Department of Labor has rescinded its 2022 guidance that warned fiduciaries to exercise “extreme care” when considering cryptocurrencies for 401(k) retirement plans. Crypto Gets a Policy Boost as Labor Dept. Revokes 401(k) Warning The original release, issued under the Biden administration, had signaled skepticism about the inclusion of digital assets in retirement investmentSource link
Bitcoin Pulls Back to $107K, but NYDIG Analysis Suggests Market Far From Overheated
Wednesday morning U.S. hours saw a modest acceleration in crypto's pullback from the recent big move higher, with bitcoin BTC stumbling nearly 2% to just above the $107,000 level.Altcoins fared worse, with XRP XRP, solana SOL and dogecoin DOGE among those sporting declines in the 3%-5% range.Among crypto-related stocks, the bitcoin miners were hardest hit, with MARA Holdings (MARA), Riot Platforms (RIOT) and Hut 8 (HUT) each lower by nearly 10%.Bitcoin treasury companies were also showing sizable losses, led by GameStop (GME), down 11% after announcing the purchase of just over 4,710 bitcoin (or about $500 million at the current price) — to some a rather underwhelming amount considering the company raised $1.3 billion for bitcoin acquisition several weeks ago.Cycle...
GameStop Stock Dives After Retailer Announces $512 Million Bitcoin Buy
The price of GME fell sharply Wednesday following word from GameStop that it had made its first Bitcoin purchase.Source link