Russia’s Putin says crypto has ‘value’ — but maybe not for trading oil

Russian President Vladimir Putin thinks cryptocurrencies have value — but he’s not convinced they can replace the U.S. dollar in settling oil trades. Some months ago, Russia’s deputy prime minister, Alexander Novak, suggested the country could move away from greenback-denominated crude contracts if the U.S. continues to impose targeted economic sanctions. Asked whether bitcoin or… Continue reading Russia’s Putin says crypto has ‘value’ — but maybe not for trading oil

Cryptocurrencies tumble after China’s latest crackdown. Here’s why traders see opportunity

The People’s Bank of China in a Q&A overnight called all crypto-related activities illegal — the latest in a regulatory crackdown that had previously targeted activities such as mining. Craig Johnson, chief market technician at Piper Sandler, said the latest announcement is more bark than bite. “The whole discussion that this is going to be… Continue reading Cryptocurrencies tumble after China’s latest crackdown. Here’s why traders see opportunity

Crypto plunge a wake-up call — and tax opportunity — for investors

The price of popular cryptocurrencies like bitcoin and ethereum plunged Friday after Chinese officials intensified a crackdown, essentially declaring crypto to be illegal. The government intervention, while significant, doesn’t necessarily mean investors should run for the hills, though, according to financial advisors. But it’s another reminder that crypto holdings are subject to wild price swings,… Continue reading Crypto plunge a wake-up call — and tax opportunity — for investors

Forget dogecoin and meme stocks—it’s usually better to keep your money boring

While cryptocurrencies, meme stocks and other buzzy financial products have captured the attention of many young investors, financial experts warn that they shouldn’t come at the expense of other, more traditional investments. They’re popular, in part, because they seem like a way to get rich quick. But there’s no exciting, easy trick that will suddenly… Continue reading Forget dogecoin and meme stocks—it’s usually better to keep your money boring

Bitcoin climbs back above $30,000, rebounding after a sell-off in cryptocurrencies

Bitcoin and other cryptocurrencies recovered on Wednesday after a brutal sell-off, with the world’s biggest digital coin climbing back above $30,000. The price of bitcoin rose almost 4% in the last 24 hours, to $30,798 at 5:25 a.m. ET, according to Coin Metrics data. Smaller cryptocurrencies ether and XRP also rebounded, up around 7% and… Continue reading Bitcoin climbs back above $30,000, rebounding after a sell-off in cryptocurrencies

Doge is my savings account’: This 33-year-old is no longer a ‘dogecoin millionaire’–but he’s still buying the dips

The top cryptocurrencies by market value, including bitcoin and ether, are plunging on Tuesday amid a sell-off. Among those is meme-inspired cryptocurrency dogecoin, which is down about 77% since its all-time high of nearly 74 cents in May. But investor Glauber Contessoto, whose dogecoin holdings previously surpassed a value of $1 million, isn’t worried. “You… Continue reading Doge is my savings account’: This 33-year-old is no longer a ‘dogecoin millionaire’–but he’s still buying the dips

Why the Fed hates cryptocurrencies and especially stablecoins

Here’s why Fed Chair Jerome Powell wants stablecoin regulationFederal Reserve chair Jerome Powell has been testifying on Capitol Hill this week, and it’s pretty clear that he is not a fan of digital coins – especially stablecoins. During a two-day congressional hearing, the Fed chief said the main incentive for the U.S. to launch its… Continue reading Why the Fed hates cryptocurrencies and especially stablecoins

Cryptocurrencies don’t yet pose a threat to financial stability, Bank of England’s Cunliffe says

LONDON — Cryptocurrencies aren’t yet big enough to pose a systemic risk to financial stability, Bank of England Deputy Governor Jon Cunliffe said Wednesday. “The speculative boom in crypto is very noticeable but I don’t think it’s crossed the boundary into financial stability risk,” Cunliffe told CNBC’s Joumanna Bercetche in an exclusive interview. Bitcoin and… Continue reading Cryptocurrencies don’t yet pose a threat to financial stability, Bank of England’s Cunliffe says

Here’s what cryptocurrencies will look like in 50 years according to experts

We may not know what stocks in the S&P 500 will do next month, or in two years, but over the decades, we have a pretty good hunch that they’ll go up. Most of us also know what a stock is, and that definition hasn’t changed in centuries. None of that is true, of course,… Continue reading Here’s what cryptocurrencies will look like in 50 years according to experts

Advisors pivot to cryptocurrencies as clients want in on the action

One expert who is betting the trend continues says the first step is to get educated. As investors become more interested in cryptocurrencies, financial advisors are feeling a new urgency to offer the investments to clients. About 49% of advisors said clients have asked about cryptocurrencies in the past six months, up from 17% in… Continue reading Advisors pivot to cryptocurrencies as clients want in on the action