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The Latest Breaking News from Crypto

While Bitcoin, Ethereum, Dogecoin Crash — UK Crypto Platform Fetches $500M Valuation With Backing From Goldman Sachs, Barclays

United Kingdom crypto trading platform Elwood Technologies — founded by hedge fund billionaire Alan Howard — said it raised $70 million in a Series A funding round co-led by Dawn Capital and global investment bank Goldman Sachs Group Inc (NYSE: GS).

Benzinga

City comment: Despite market meltdown, write off crypto at your peril

That popping sound you can hear is a bubble bursting.

Evening Standard

Getting Paid in Bitcoin

Unfortunately, an automatic crypto purchase made with after-tax earnings won't lower your taxable income.

Reason

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Bitcoin has no future as a payments network - FTX

Cryptocurrency exchange FTX's founder has said that bitcoin has no future as a payments network and criticised the digital currency for its inefficiency and high environmental costs.

Bangkok Post

Terra hasn’t killed crypto, but it was a narrow escape

NEW YORK: Speculation that the collapse of one of the biggest experiments in decentralized finance could bring about the death of crypto appears to have been overblown. If Terra’s implosion had happened after a few more months of growth, the resultant market impact might have created a DeFi version of…

The Times of India

Cryptos can lead to dollarisation of economy: RBI officials to parliamentary panel

NEW DELHI: Cryptocurrencies can lead to "dollarisation" of a part of the economy which would be against India's sovereign interest, top officials of the RBI have told a parliamentary panel, according to sources.

The Times of India

‘Unstoppable until they aren’t’: are tech market losses signs of a bust?

Apple is no longer the most valuable company, Meta took a $230bn hit, Amazon reported its first loss since 2015, but a slump ‘is a big question mark’

The Guardian - US

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Terra's Do Kwon 'Heartbroken' Over UST Collapse, Doge's Billy Markus Tells Him To Leave The Industry

In a recent Twitter post, Terra (CRYPTO: LUNA) founder Do Kwon has said that he is “heartbroken” about his creations losing all of their value this week.

Benzinga

'Doge Was Created As Satire Of How Stupid The Scene Was Becoming. It Hasn't Improved': Billy Markus

Dogecoin (CRYPTO: DOGE) co-founder Billy Markus took to Twitter on Friday to express his anguish over the mess cryptocurrencies are finding themselves in.

Benzinga

4 things to know as cryptocurrencies such as Bitcoin (and stablecoins) melt down

Bitcoin and other cryptocurrencies are being caught up in the storm impacting all kinds of markets, including stocks. The plunge in a type of crypto called TerraUSD is raising special concern.

WEKU

The Weekly Wrap for Saturday, 14 May 2022

It's been a bad week (month, year) to be a Web3 booster. Coinbase conceded that it may not be able to protect all the deposits it holds if it goes under. NFT's are evaporating and not even a CGI model of Madonna's vagina can save them. But in this edition…

inkl Originals

Michael Hiltzik: Bitcoin, NFTs, SPACs, meme stocks — all those pandemic investment darlings are crashing

The finance world, which is constantly on the lookout for rules and laws it can break in the interest of making more money, may have come up against the one law that can't be broken: the law of gravity.

Los Angeles Times

Crypto’s $270 billion meltdown gives way to an uneasy calm

Even by the white-knuckle standards of the cryptocurrency universe, it was a standout week.

Tribune News Service

Want To Buy Crypto? Check Out The Top Movers For Today

Pulled from Benzinga Pro here's the list of the top crypto gainers and losers at the time of publication:

Benzinga

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Benzinga

If You Invested $1,000 In Terra (LUNA) On Jan. 1, 2022, Here's How Much You'd Have Now

One of the biggest stories in the world of cryptocurrency this week has been the fall of a stablecoin and a coin associated with it. Here’s a look at how an investment in the cryptocurrency has fared in 2022.

Benzinga

Bad Dog! Is Dogecoin Headed To 5 Cents? Here's Why Bulls Need To Step In

Dogecoin (CRYPTO: DOGE) spiked up 16% at one point during the 24-hour trading session that began on Thursday at 8 p.m. but by Friday afternoon, the crypto had retraced about 9% from its high-of-day.

Benzinga

Mark Cuban Never Held Terra Or TerraUSD After Checking 'To See If It's A Sustainable Product'

Famous investor and cryptocurrency proponent Mark Cuban said he never held any Terra (CRYPTO: LUNA) or TerraUSD (CRYPTO: UST) and also refused to Anchor Protocol (CRYPTO

The Independent UK

Bitcoin tumbles, a stablecoin plunges in wild week in crypto

It’s been a wild week in crypto, even by crypto standards

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Benzinga

Here Are The Women Leading The Journey Toward Web3

Influencer, entrepreneur, speaker, and prominent NFT advocate, Gary “Vee” Vaynerchuk, is making good on his promises to holders of his VeeFriends NFTs with VeeCon 2022 — a conference “around Web3 and Culture” that kicks off next week in Minneapolis.

Benzinga

Here's How Much $100 Invested In Bitcoin Today Will Be Worth If It Hits All-Time High Again

The cryptocurrency market is crashing this week and many of the largest coins haven’t been able to escape the carnage of a potential crypto winter.

The Conversation

Cryptocurrencies: why they've crashed and what it could mean for their future

If you had invested £100 (US$122) in the cryptocurrency Luna a month ago, you might have been quietly confident you’d made a sensible bet. But Luna’s value has since fallen drastically – at the time of writing, that £100 is worth around 4p (5¢).

Benzinga

How The Fed's Interest Rate Hike Affects Crypto

This week has been quite the rough one for the cryptocurrency market. After enduring several days of consistently falling prices last week, we saw Monday come with even more bad news as coin prices took further tumbles.

Benzinga

Bitcoin: Born Out Of A Financial Crisis, Will It Survive The Next One?

The world’s first digital currency, Bitcoin (CRYPTO: BTC) has been the harbinger of a new financial order with the potential to survive any crisis if history is to be believed.

Benzinga

Crypto Whale Just Moved $42M Worth Of Ethereum (ETH) Off Gemini

What happened: An Ethereum (CRYPTO: ETH) whale sent $42,116,393 worth of Ethereum off Gemini. The ETH address associated with this transaction has been identified as: 0xa8d7798949e7fe3fac03920e9b9cf9679472eaf8

Benzinga

Ethereum Whale Moves 30,500 ETH Off Gemini

What happened: An Ethereum (CRYPTO: ETH) whale sent $60,992,253 worth of Ethereum off Gemini. The ETH address associated with this transaction has been identified as: 0x4399f61795d3e50096e236a6d31ab24470c99fd5

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