Cryptocurrencies are digital tokens — not coin or cash — but digital money which allow people to make payments directly to each other through an online system set-up to allow peer-to-peer transactions without needing a bank. Cryptocurrency payments exist purely as digital entries into an online database that describes specific transactions. Cryptocurrency is stored in a digital wallet. Cryptos came into existence after the 2008 financial market crisis when a need was felt to democratise how currencies are held, exchanged and regulated. That year a person under the anonymous name Satoshi Nakamoto invented Bitcoin. Cryptos today also include Ethereum, Tether, Cardano, and Dogecoin, among others. Cryptos are more democratic in nature – you can use them in any part of the world, but as much as you want and use them anywhere. There is a network of people and their computers which maintains a ledger and any transaction must be validated by all those present in that network. The ledger then gets updated to reflect the transaction. This technology is called blockchain. Cryptos also express values in units similar to traditional currency and some people also consider Bitcoin comparable to gold as they are finite in number and supply and need to be mined. Mining is the process by which new cryptos enter circulation and is also a critical component of the maintenance and development of the blockchain ledger. More
Many Terra investors have lost hope of recovering their money after the Terra crash last week.
Billionaire American investor Bill Ackman described digital ledger technology blockchain as a "brilliant with enormous potential" but flagged the risks associated with schemes like Luna.
HONG KONG Cryptocurrencies resumed their slide on Monday, giving up the gains they had eked out over the weekend, as regulators continued to c..
Digital assets are helping entrepreneurs and developers alike in creating a transactional framework for the metaverse
"The Bitcoin network is not a payments network and it is not a scaling network," the report quoted FTX founder and Chief Executive Officer Sam Bankman-Fried as saying.
Briefing the Parliamentary Standing Committee on Finance chaired by former minister of state for finance Jayant Sinha, top officials of the RBI expressed their apprehensions about cryptocurrencies and said these pose challenges to the stability of the financial system.
This crash was possibly triggered by a financial attack on the stablecoin Terra (UST), which is supposed to match the US dollar but is presently trading at just 18 cents.
Bitcoin has dropped about 37 percent year to date. Other cryptos have fared just as poorly. Ethereum has dropped 44 percent and dogecoin has fallen 53 percent.
A daily round-up of the most interesting articles on cryptocurrencies like Bitcoin, Ethereum, and NFTs to help you jump-start the day.
Bitcoin has dropped about 37 percent year to date. Other cryptos have fared just as poorly
For the uninitiated, Luna’s downfall started when its sister token UST, which is also a stablecoin, was 'depegged' from its $1 value as big investors started dumping it.
The plunge in the value of cryptocurrencies also revealed that they are not as insulated from the financial markets as they are made out to be.
A daily round-up of the most interesting articles on cryptocurrencies like Bitcoin, Ethereum, and NFTs to help you jump-start the day.
Ashley Alder, chair of the International Organization of Securities Commissions (IOSCO) said the boom in digital currencies such as bitcoin was one of the three main areas authorities were now focused on, alongside COVID and climate change.
Cryptocurrencies have been swept up in a sell-off across higher risk assets, which has picked up steam this week as data showed U.S. inflation running hot, deepening investor fears about the economic impact of aggressive central bank tightening.
Campbell Wilson has 26 years of aviation industry expertise across both full service and low-cost airlines. He was appointed the CEO and MD of Air India on Thursday.
While writing about what the crypto crash means for investors, columnist Lionel Laurent said that bitcoin’s 50 per cent slide in six months highlights its flaws in times of stress.
Cryptocurrencies continue to crash. Bitcoin falls to 16-month low triggered by the collapse of Terra stablecoin. Watch Karunya Rao And Manisha Gupta decode the fall of the cryptos and the way forward
The world's largest cryptocurrency dropped around 2% to as low as $28,379.26, its lowest since January 2021.
Eaton will be responsible for Binance's legal affairs, leading the support for global compliance, investigations and law enforcement coordination activities, the company said in a statement.
In today’s edition of Moneycontrol Pro Panorama: Metal rollercoaster, FM’s rescue act, what OECD pointers say, and more
Concerns over money laundering and market crashes are growing as more consumers bet on digital assets
The industry is currently considering its options and is hoping to approach the government for talks on reconsidering the tax rate.
The cryptocurrency is a poor substitute for cash in an inflationary environment
Bitcoin, which makes up for nearly 40 percent of the crypto market, hit a 10-month low earlier on Tuesday, before rebounding to $31,450, just six days after touching $40,000. It was more than 54 percent below its November 10 all-time high of $69,000.