Week Financial News

Bitcoin price is still a ways from its $69,000 all-time high but this isn't stopping altcoins from moving toward new highs. 

Bitcoin (BTC) has stopped its decline and is attempting a recovery along with select altcoins. Some traders have been fearing a massive sell-off in Bitcoin but Capriole CEO Charles Edwards said that Bitcoin’s worst crashes have happened “due to miner capitulation (December 2018 and March 2020), when BTC fell below production costs.” However, the current production cost of Bitcoin was $34,000, which is well below the current price.

Tech giant Google has spent €875 million to buy a central London building where it is currently a tenant, showing its confidence in the future of the office as a place to work, the company said on Friday.

A tribunal against KPMG and six of its former staff kicked off on 10 January. The Financial Reporting Council levelled the accusation that it was misled during its investigation of the Big Four firm's 2016 audit of Carillion and its 2014 audit of Regenersis.

On Monday, UK Parliament launched a cross-party group of MPs and Lords to cover the crypto and digital assets sector. The group is to act as a forum for parliamentarians, policymakers and the UK crypto sector to discuss policy and regulation in the industry. The news followed last week’s announcement that the New York State Department of Financial Services appointed former Promontory executive Peter Marton as deputy superintendent of virtual currency. Marton commented that “Crypto supervision should be a marathon and not a sprint, and I look forward to continue this effort in earnest.” Fed Chairman Jerome Powell also stoked excitement on Tuesday, stating that a highly anticipated report on cryptocurrencies and CBDCs will be released “within weeks” (though originally scheduled for a September 2021 release). Powell made the statement during a Senate Committee hearing, where Senator Pat Toomey also questioned whether the Fed has authority to act as a retail bank for Americans, asking: “It seems to me that there is absolutely nothing in the history, the experience, the expertise, the capabilities of the Fed that lends the Fed to being a retail bank. Is that a fair observation?” Powell responded: “I would say, yes.” Having previously stated that a CBDC would render privately issued stablecoins to become obsolete, he also told Toomey during the hearing that it is possible the two could co-exist.

Another solo Bitcoin (BTC) miner with a hashrate capacity of 116 terahashes per second (TH/s) has won a block race on the Bitcoin network, securing the block reward of BTC 6.25 plus a fee reward of BTC 0.018 -- cumulatively worth over USD 274,041 at current rates. 

Here is our weekly collection of digital asset listing and delisting, trading pair-related announcements by crypto exchanges that we found last week and today. 

Bitcoin (BTC) starts a new week in a strange place — one which is eerily similar to where it was this time last year.

Bitcoin (BTC) and most major altcoins remain under pressure as supports give way and bears sell at each rally attempt. This negative sentiment pulled the Crypto Fear & Greed Index to 10/100 on Jan. 8, one of its lowest readings ever. In comparison, 2021 had started on a bullish note with the reading hitting levels of 93/100, indicating “extreme greed.”

Federal Reserve Chairman Jerome Powell’s confirmation hearing and the latest readings on inflation highlight this week’s economic calendar.

Kazakhstan's health ministry said Sunday that 164 people have been killed in protests that have rocked the country over the past week.

The price of the Cosmos blockchain’s native token ATOM rose sharply in the crypto market today, despite selling pressure from the rest of the market. The gains today follow an extended period of higher prices for the token, leading to a (for now) failed test of its September all-time high.

The Solana blockchain has faced its second network performance degradation incident this week. According to Solana, this is happening because of a rise in high compute transactions. 

Here is our weekly collection of digital asset listing and delisting, trading pair-related announcements by crypto exchanges that we found last week and today. 

Bitcoin (BTC) begins its first full week of 2022 in familiar territory below $50,000.

The Labor Department’s December jobs report is the highlight of this week’s economic data. Economists surveyed by The Wall Street Journal estimate the unemployment rate fell as employers added jobs at a faster pace.

Bitcoin (BTC) continues to languish below the psychological level at $50,000 in the first few days of the New Year, indicating a lack of aggressive buying by traders. Former BTCC CEO Bobby Lee said the exodus of the Chinese traders who had until Dec. 31 to exit Chinese exchanges may have kept prices lower into the year-end.

PlayGo from World of Play is an Indian audio brand known for its range of affordable and mid-tier earphones and headphones. The company in December launched the PlayGo N37, a pair of budget neckband style bluetooth earphones.

Some crypto market analysts are highlighting the potential for a green first week on the crypto markets in January as part of what economist and trader Alex Krüger calls the “first week of the year effect.”

High transaction costs have been a thorn in the side of the top blockchain protocols for years as both Bitcoin (BTC) and Ethereum (ETH) have seen the average cost of conducting token transfers skyrocket during times of network congestion and high demand. 

Here is our weekly collection of digital asset listing and delisting, trading pair-related announcements by crypto exchanges that we found last week and today.