Tag Archives | Cryptocurrency

“There will probably never be anything I can do to make my lifetime impact net positive”, Sam Bankman-Fried wrote in his diary after the collapse of his cryptocurrency company FTX.

Despite FTX’s collapse, a lawsuit linked to the exchange’s investor is trying to force regulators to allow crypto into the retirement market.

The demise of FTX, the fifth-biggest cryptocurrency exchange by trade volume in 2022, and the second-largest by holdings, has sent a wave of chaos through global financial markets.

FTX had some eye-opening connections to powerful entities and individuals around the world before it all came crashing down.

Coinbase recently filed its interim financial report. It makes pretty grim reading. A quarterly net loss of over $1bn, net cash drain of £4.6bn in 6 months, fair value losses of over 600k…

That’s what’s different this time: Stuff blows up because of leverage and cascades through the crypto space because everything’s interconnected.

The crypto lending platform paused withdrawals as Bitcoin spiraled downwards, sending its own token plummeting. Here’s what happened.

Bitcoin had gone from around USD 4,000 to USD 64,000, a sixteen fold increase, in 20 months. Other cryptocurrencies had even more ridiculous price increases in the same time period – Ethereum had a 50 fold increase, Solana 500 times, and LUNA had a 1,000 times increase. Now, these cryptocurrencies are crashing down.

Cryptocurrencies are collapsing across the etherspace. Neil and Jonathan talk to Izabella Kaminska, founder of the Blind Spot and keen cryptowatcher, about Terra, Luna and Tether, the death spiral of the stablecoins, and whether anyone in the real world should care.

As cryptocurrencies take the world of finance by storm, Thomas Redshaw examines their rise and what the left should make of them.

The get-rich-quick scheme, banned in China and elsewhere, is invading U.S. communities unchecked, posing as an “equalizing, democratizing” currency. It’s not.

Last month, the two regions were warned about missing energy intensity reduction targets.

The cost and time involved in validating Bitcoin transactions makes it unusable in retail transactions. So they will always be foreign currencies, where you have to trade in and out of them into a real world currency.

Chinese cryptocurrency businesses mine two-thirds of all Bitcoin. But for how long will they remain welcome in the country?

Bitcoin’s growth from just being a tech curiosity was driven by popular discontent with banks and banking systems, mainly in the U.S. after 2008.