Brutal year for bitcoin and almost $3B in crypto hacks marked 2022: report
Bitcoin is up over 25% in the past two weeks after dropping 64% in 2022, though questions remain about whether the virtual currency can find long-term support at those levels.
Central-bank digital currencies are coming—whether countries are ready or not
Central-bank digital currencies could lead to big changes in the most basic activity of any banking system: making and distributing money.
'Mild recession' will tip to 'deep recession' when unemployment spikes: Kenny Polcari
SlateStone Wealth chief market strategist Kenny Polcari and Bubbatrading.com chief strategist Todd Horowitz discuss the odds of a U.S. recession and the crypto trade in 2023 on 'The Claman Countdown.'
Bitcoin has long-term value: Sven Henrich
Northmantrader.com founder Sven Henrich provides insight on investing in cryptocurrency on 'Making Money.'
Founders of bankrupt Three Arrows Capital plan trading platform for distressed crypto debt
Su Zhu, co-founder of Three Arrows Capital, now bankrupt hopes to raise $25 million in seed money for an exchange to handle FTX's and others' distressed crypto assets.
Economic 'tsunami' looking more like a 'severe tropical storm': Jason Katz
UBS managing director Jason Katz reacts to bank CEOs calling for a 'mild recession' as inflation cools on 'Varney & Co.'
Bitcoin on a roll to start the new year
After a dismal year in 2022, bitcoin has started off the new year gaining 24%, while rising in 13 of the last 15 days.
Crypto.com cuts 20% of staff, citing economic hurdles and FTX collapse
Crypto.com cuts hundreds of workers in the wake of rival FTX's collapse. A lack of faith in future cryptocurrency markets has sent valuations tumbling.
BlackRock CEO Larry Fink: 'High probability' US enters recession
BlackRock chairman and CEO Larry Fink discusses how close the economy is to a recession and how Washington's bickering over the debt ceiling could harm the United States on 'The Claman Countdown.'
House Republicans launching digital asset subcommittee after troubled year for cryptocurrency industry
The House Financial Services Committee rolled out a new subcommittee on digital assets and financial technology on Thursday after a troubled year for cryptocurrencies.
Crypto crime soars to record high of at least $20.1B in 2022
Cryptocurrency analytics firm Chainalysis reported Thursday that crypto crimes hit a record high of more than $20B last year, and the true number is likely even higher.
Heat launch search for new naming rights partner after FTX debacle
The Miami Heat and Miami-Dade County will now find a new naming rights partner after a federal judge terminated the naming rights agreement for FTX Arena.
Sam Bankman-Fried defends himself in online post: 'I didn’t steal funds'
FTX founder and ex-CEO Sam Bankman-Fried on Thursday posted what he referred to as a "pre-mortem overview" of what he says led to the crypto exchange's collapse.
LastPass hack: Cybersecurity experts sound the alarm over data breaches
Cybersecurity experts are warning that security breaches at password manager LastPass were more widespread than the company is letting on, as a class-action lawsuit moves forward
FTX bankruptcy judge terminates Miami Heat arena naming rights deal
A federal bankruptcy judge reportedly moved Wednesday to terminate the naming rights agreement between Miami-Dade County and cryptocurrency exchange FTX for the Miami Heat's arena.
Tom Brady owned more than 1M FTX shares before collapse, a stake that's likely gone
The FTX collapse has left the cryptocurrency world reeling and former brand ambassador Tom Brady held over 1 million shares before it filed for bankruptcy.
Inside Sam Bankman-Fried’s $1B bet on a bitcoin miner on the Kazakh Steppe
The cash injection from Sam Bankman-Fried’s Alameda Research was supersized even for the red-hot crypto startup world, and it dwarfed his other investments in private companies.
FTX has recovered $5B in liquid assets, bankruptcy lawyer says
An attorney for bankrupt crypto exchange FTX told a judge Wednesday the failed platform has recovered more than $5 billion liquid assets, including cash and securities.
Coinbase cutting 20% of workforce
Coinbase is making another round of cuts in order to weather ongoing conditions that have impacted cryptocurrency markets. This time its cutting 20% of its workforce.
Betsy Cohen: Market volatility could be worse in 2023
Cohen Circle co-founder and chairman Betsy Cohen discusses the U.S. IPO market and the decline in SPAC deals in 2022 on 'The Claman Countdown.'
Cryptocurrency FAQs
What is Cryptocurrency?
Cryptocurrency, or crypto, is a form of digital asset that is secured by cryptography and the blockchain. The most notable example of a cryptocurrency is bitcoin, though thousands of other similar assets exist. Cryptocurrencies are regarded by many as the money tech of the future due to their accessibility and un-censorable nature.
How do cryptocurrencies work?
Cryptocurrency networks, or blockchains, are independently verified by a matrix of computers that record all transactions and ensure a consensus throughout the chain. This means that all network information is recorded immutably and permanently; transactions cannot be prevented, blocked, or changed. Network participants can thus trust each other and transact without the need for a centralized intermediary.
How can I buy a cryptocurrency?
There are many markets for cryptocurrencies where you can exchange USD for the cryptocurrency of your choice. These include centralized exchanges and services such as Coinbase and PayPal, or decentralized alternatives like UniSwap where you can swap between crypto-assets. To use a centralized exchange, you’ll need to submit personal information such as your passport or driver’s license. Note that the price of digital assets can change rapidly, so timing your purchases well is essential.
Where can I keep my crypto coins?
Cryptocurrencies can usually be held with the exchange or business you bought them from. However, as these exchanges can be hacked, it is advisable to move your assets to your own personal wallet. These wallets are more secure and can be accessed from your laptop, phone, or other mobile devices.
What can I buy with crypto?
Real work adoption of crypto is still ongoing. However, more businesses are accepting crypto and you can buy goods and services as diverse as real estate, stocks, travel, gambling, websites, and much more. This trend should continue over time as cryptocurrencies become better known, accepted and trusted.
Pros and cons of investing in a cryptocurrency
You may have read the news that crypto has broken all-time highs recently. This is the main advantage, that we are early in the asset’s history and prices have generally gone rapidly upwards. However, you should be aware that volatility is significant and you can similarly lose money quickly if your timing is poor. Security is also a major issue and you must ensure you secure your crypto and transactions well or you could become a victim of theft or fraud.