The hottest spot in crypto right now is coins with prices that don’t move. Stablecoins, cryptocurrencies which peg their value to assets such as the U.S. dollar, have ballooned in size over the past few months as Bitcoin and other coins whipsaw. The total market capitalization of stablecoins currently stands Read more…
Ethereum cofounder Vitalik Buterin has said many crypto developers wouldn’t be unhappy to see a continued slide in the price of digital currencies, as the slump could clear out less-viable projects. Cryptocurrencies have fallen in recent weeks alongside stocks, as investors grow more cautious about taking risks given persistent rises Read more…
“Vice examines the toll on mental health experienced by people who invest a large portion of their net worth into volatile cryptocurrencies,” writes long-time Slashdot reader leathered. Vice argues that “The stress and anxiety that goes with funneling your life savings into a volatile market is no joke.” Countless people Read more…
Wall Street institutions’ growing connections to crypto markets could threaten financial stability and cause a credit crunch-style financial crisis, global regulators have warned. The Financial Stability Board said (PDF) “ongoing vigilance” of institutional investors such as big banks and hedge funds is needed as they deepen their involvement in the Read more…
President Biden is expected to issue an executive order next week directing agencies across the government to study cryptocurrencies and a central bank digital currency (CBDC), and come up with a government-wide strategy to regulate digital assets. According to an administration official familiar with the matter, the forthcoming directive will Read more…
The New York Stock Exchange has filed an application to register the term “NYSE” for a marketplace for non-fungible tokens (NFTs), taking a step closer to setting up an online trading place for cryptocurrencies and NFTs. The hype around cryptocurrencies last year spilled over to NFTs, a form of speculative Read more…
A top official of India’s central bank has compared cryptocurrency to a “Ponzi scheme” and suggested an outright ban in its sharpest criticism just weeks after the government proposed taxation of the virtual digital asset and paved way to recognize it as legal tender in the world’s second-largest internet market. Read more…