How a bitcoin market ‘in extreme fear’ compares with the past, and what to expect next

USDTerra stablecoin, UST gold USUSD, +18.12%, once among the top 10 largest cryptocurrency by market cap, lost its 1 to 1 peg against the US dollar, falling to as low as 6 cents on Friday, according to CoinDesk data. LUNA LUNAUSD, 18.75, another cryptocurrency backing UST, fell nearly to zero from over $80 in early … Read more

Crypto Investor Who Lost Money Visits Home of Luna Founder

Do Kwon, the founder of the cryptocurrency Luna and the stablecoin TerraUSD, has reportedly been in contact with police after a possible investor in the coin “trespassed” at his home, according to a new report from South Korea’s largest newspaper, The Chosun Ilbo. Crypto News reports the investor lost roughly $1.56 million in the collapse … Read more

Tether Sinks Below $1 in Nightmare Scenario for Bitcoin

A bitcoin sign is seen on a Coinstar ATM during the Bitcoin 2022 Conference at Miami Beach Convention Center on April 8, 2022 in Miami, Florida. Photo: Marco Bello (Getty Images) The cryptocurrency market continued to hemorrhage money Thursday, with the most popular coins down double-digit percentages over the past 24 hours. And absolutely no … Read more

Bitcoin Slides Further, Tether Briefly Breaks $1 Peg

Bitcoin plunged and the world’s largest stablecoin, tether, briefly edged down from its $1 peg, adding to fears of more turbulence in the cryptocurrency market. Cryptocurrencies have been hit by two forces this week. On one side, concerns that inflation will necessitate aggressive central-bank tightening have sapped the desire to hold assets perceived as higher … Read more

Bitcoin Prices Fall. Cryptos Pressured as Terra’s Meltdown Intensifies.

Bitcoin prices have suffered a rout over the past week alongside other cryptocurrencies. Dreamstime Text size Bitcoin and other cryptocurrencies remained under pressure on Wednesday, but above their Tuesday lows, with the focus on the meltdown of stablecoin TerraUSD, which is designed to be pegged to the US dollar. The price of Bitcoin fell 2% … Read more

Bitcoin Prices Fall. Cryptos Pressured as Terra’s Meltdown Intensifies.

Bitcoin prices have suffered a rout over the past week alongside other cryptocurrencies. Dreamstime Text size Bitcoin and other cryptocurrencies remained under pressure on Wednesday, but above their Tuesday lows, with the focus on the meltdown of stablecoin TerraUSD, which is designed to be pegged to the US dollar. The price of Bitcoin fell 2% … Read more

Luna Plunges 87% as Crypto Market Suffers Stablecoin Collapse

Treasury Secretary Janet Yellen testifies before the Senate Banking, Housing, and Urban Affairs Committee hearing on The Financial Stability Oversight Council Annual Report to Congress, in Washington, DC, on May 10, 2022.Photo: Tom Williams (Getty Images) On Monday, Gizmodo showed you how much money you have today if you invested in various cryptocurrencies six months … Read more

Cryptocurrency TerraUSD Plunges as Investors Bail

A selloff in a cryptocurrency that was supposed to be pegged to $1 accelerated Wednesday, briefly sending its price to less than a quarter of that value. TerraUSD traded as low as 23 cents on Wednesday, according to data from CoinDesk. As of 5:15 am ET, it had partially rebounded to about 41 cents in … Read more

Warren Buffet said Bitcoin ‘isn’t going to do anything,’; Immutable Holdings CEO responds

(KitcoNews) – At Berkshire Hathaway’s annual shareholder meeting earlier this month, Warren Buffet, Chairman and CEO of Berkshire Hathaway, bashed Bitcoin once again. “If you told me you owned all the Bitcoin in the world, and you offered it to me for $25, I wouldn’t take it, because what would I do with it,” Buffet … Read more

MicroStrategy Stock Is Crumbling as Bitcoin Slides and Rates Rise

Bitcoin’s tumbling price is dragging down MicroStrategy’s stock. Dreamstime Text size MicroStrategy , a software and Bitcoin holding company, was tumbling again as the price of the crypto continued to slide. Shares of MicroStrategy (ticker: MSTR) were down 23% in trading Monday, to around $227 a share. The company held 129,218 Bitcoins on its balance … Read more