Bitcoin Family say they lost $1 million in value this year

Bitcoin Family say they lost $1 million in value this year

‘Bitcoin Family’ opens a bitcoin beach bar in Lagos, Portugal Didi Taihuttu The “Bitcoin Family” is down more than $1 million on their bitcoin investment since the world’s most popular digital coin peaked at around $69,000 in Nov. 2021 — but patriarch Didi Taihuttu is as bullish as ever. “I’m buying bitcoin daily,” Taihuttu told … Read more

Crypto is not replacing the US dollar, Bitfury CEO Brian Brooks says

Crypto is not replacing the US dollar, Bitfury CEO Brian Brooks says

Crypto prices should be viewed more like internet stocks than currency, said Brian Brooks, the former US Acting Comptroller of the Currency during the Trump Administration. The biggest misunderstanding around cryptocurrencies is that if they’re “not doing a great job of replacing the US dollar, then crypto is failing in its mission,” Brooks, now the … Read more

What is staked ether (stETH) and why is it causing havoc in crypto?

What is staked ether (stETH) and why is it causing havoc in crypto?

Ether is the second-largest cryptocurrency in the world by market value. Jaap Arriens | NurPhoto via Getty Images Another controversial cryptocurrency is causing havoc in the digital asset market — and this time, it’s not a stablecoin. Staked ether, or stETH, is a token that’s supposed to be worth the same as ether. But for … Read more

Bitcoin plunge spells trouble for Michael Saylor’s MicroStrategy

Bitcoin plunge spells trouble for Michael Saylor's MicroStrategy

Michael Saylor, chairman and chief executive officer of MicroStrategy, first got into bitcoin in 2020, when he decided to start adding the cryptocurrency to MicroStrategy’s balance sheet as part of an unorthodox treasury management strategy. Eva Marie Uzcategui | Bloomberg | Getty Images Having once lost $6 billion at the height of the dotcom bubble, … Read more

Ethereum had successful dress rehearsal to move to proof-of-stake

Ethereum had successful dress rehearsal to move to proof-of-stake

INA FASSBENDER | AFP | Getty Images Ethereum just completed its first big dress rehearsal for a long-awaited makeover that will be its most significant overhaul since the digital currency was launched nearly a decade ago. Cryptocurrencies such as ethereum and bitcoin are often criticized for the process of mining to generate new coins. Both … Read more

Crypto: 46,000 People Lost $1 Billion to Cons in 15 Months

Crypto: 46,000 People Lost $1 Billion to Cons in 15 Months

The euphoria around cryptocurrencies in 2021 has not only made millionaires and billionaires. It was also a ruin for thousands of retail investors. And things are not getting better since the beginning of 2022, crypto scams, which multiplied last year, continue. Since the start of 2021, more than 46,000 people have reported losing over $1 … Read more

Here’s what’s in New York’s new bitcoin mining ban

Here's what's in New York's new bitcoin mining ban

Following an early morning vote in Albany on Friday, lawmakers in New York passed a bill to ban certain bitcoin mining operations that run on carbon-based power sources. The measure now heads to the desk of Governor Kathy Hochul, who could sign it into law or veto it. If Hochul signs the bill, it would … Read more

UST debacle will ‘probably be the end’ of algorithmic stablecoins

UST debacle will 'probably be the end' of algorithmic stablecoins

Luna, the sister cryptocurrency of controversial stablecoin TerraUSD, dropped to $0. The collapse of the algorithmic stablecoin TerraUSD has raised question about the future survival of similar crypto assets. Dan Kitwood | Getty Images News | Getty Images Algorithmic stablecoins like terraUSD, which collapsed and sent shockwaves through the cryptocurrency market, are unlikely to survive, … Read more

Action News Troubleshooters: Experts issue warning to protect your cryptocurrency accounts from hackers

Action News Troubleshooters: Experts issue warning to protect your cryptocurrency accounts from hackers

MARLTON, New Jersey (WPVI) — This is a warning for anyone dabbling or investing in cryptocurrency. A South Jersey man turned to the Troubleshooters after hackers took tens of thousands of his money. Vibhor Jain of Marlton, Burlington County, says he feels physically sick every time he thinks about his depleted cryptocurrency account. “This is … Read more