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How crypto billionaire Sam Bankman-Fried survived the market wreckage and still expanded his empire

How crypto billionaire Sam Bankman-Fried survived the market wreckage and still expanded his empire

FTX CEO Sam Bankman-Fried has been shopping for bargains amid the industry’s recent carnage and said he still has cash to spend if opportunity knocks. It may seem strange. Other multibillion-dollar crypto giants spiraled into bankruptcy this year. FTX’s main competitor, Coinbase, has seen its shares plunge 70% and has laid off a fifth of …

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For bitcoin to bottom here's what the market wants to see — and it could mean a further 30% drop

A closely-watched bitcoin metric is pointing to a possible price bottom for the cryptocurrency

Cryptocurrencies have taken a tumble in 2022. Chesnot | Getty Images Bitcoin could be poised for outsized gains if recent technical signals are to be believed. Investors have been searching for a bottom to bitcoin since the cryptocurrency lost more than 60% of its value from the all-time high of nearly $69,000 it hit in …

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For bitcoin to bottom here's what the market wants to see — and it could mean a further 30% drop

A closely-watched bitcoin metric is flashing a buy signal that has historically led to huge gains

Bitcoin could be poised for outsized gains if recent technical signals are to be believed. Investors have been searching for a bottom to bitcoin since the cryptocurrency lost more than 60% of its value from the all-time high of nearly $69,000 it hit in November. Nearly $2 trillion has been wiped off the entire crypto …

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What Tesla's bitcoin sale means for the crypto outlook

What Tesla’s bitcoin sale means for the crypto outlook

On Wednesday night Tesla reported in its second-quarter earnings that it sold 75% of its bitcoin holdings for $936 million. The company said it was to maximize its cash position amid Covid-related uncertainty in China. But the move comes about 18 months after the company shocked the financial markets by buying $1.5 billion worth of …

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These 10 states are leading America in creating a crypto economy

These 10 states are leading America in creating a crypto economy

Investing in cryptocurrencies is clearly not for the faint of heart. The value of bitcoin has plunged from its high last fall, and others have followed similarly gut-wrenching paths. But that does not mean that the revolutionary technology behind them, which allows for innovations such as smart contracts and instant peer-to-peer payments, is not here …

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This ‘crypto winter’ is unlike any downturn in the history of digital currencies. Here's why

This ‘crypto winter’ is unlike any downturn in the history of digital currencies. Here’s why

There’s something about the latest crypto crash that makes it different from previous downturns. Artur Widak | Nurphoto | Getty Images The two words on every crypto investor’s lips right now are undoubtedly “crypto winter.” Cryptocurrencies have suffered a brutal comedown this year, losing $2 trillion in value since the height of a massive rally …

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Crypto exchange FTX has ‘a few billion’ to support industry, Bankman-Fried says

Crypto exchange FTX has ‘a few billion’ to support industry, Bankman-Fried says

Sam Bankman-Fried speaks onstage during the first annual Moonlight Gala benefitting CARE – Children With Special Needs at Casa Cipriani on June 23, 2022 in New York City. Craig Barritt | Getty Images Sam Bankman-Fried, head of one of the largest cryptocurrency exchanges, FTX, said he and his company still have a “few billion” on …

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Crypto brokerage Voyager Digital files for Chapter 11 bankruptcy protection

Crypto brokerage Voyager Digital files for Chapter 11 bankruptcy protection

Voyager said it has roughly $1.3 billion of crypto on its platform and holds over $350 million in cash on behalf of customers at New York’s Metropolitan Commercial Bank. Justin Sullivan | Getty Images Beleaguered crypto brokerage Voyager Digital has filed for Chapter 11 bankruptcy protection, becoming the latest casualty of chaos in digital asset …

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Five reasons bitcoin had its worst quarter in more than a decade

Five reasons bitcoin had its worst quarter in more than a decade

1. Macroeconomic pressure During the quarter, the U.S. Federal Reserve carried out two aggressive interest rate hikes to battle rampant inflation. That has sparked fears of a recession in the U.S. and other countries. It has also hit stocks, in particular high-growth technology names. The tech-heavy Nasdaq Composite is down 22.4% for the second quarter, …

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Coinbase seeks licenses in Europe as it looks to ramp up growth outside the U.S.

Coinbase seeks licenses in Europe as it looks to ramp up growth outside the U.S.

Coinbase reported a 27% decline in revenues in the first quarter as usage of the platform dipped. Chesnot | Getty Images Coinbase is seeking licenses with various countries in Europe as part of an aggressive expansion in the region. The exchange already has an active presence in the U.K., Ireland and Germany, but wants to …

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