Coinbase’s earnings have Wall Street wondering if the crypto firm is being overly optimistic or misunderstood – CNET – ApparelGeek

Coinbases earnings have Wall Street wondering if the crypto firm

Coinbase Global Inc. executives remain optimistic about the long-term promise of their cryptocurrency platform, but admitted on Tuesday that current challenges in the crypto market are likely to persist. After posting a loss of $1.1 billion in the last quarter amid declining volumes and active user counts, Coinbase COIN,+7.73%predicted that volumes and monthly users transacting … Read more

How the carbon footprint of cryptocurrencies is about to shrink with Ethereum Merge – CNET France

How the carbon footprint of cryptocurrencies is about to shrink

Whether you own cryptocurrency or not, the arrival of The Merge for Ethereum is big news. In preparation since 2014, this evolution will allow ethereum, the second largest blockchain behind bitcoin, to become almost carbon neutral. It’s a major change. Critics of cryptocurrencies frequently point out that they consume huge amounts of electricity. A reality … Read more

Tax Free Crypto Payments? Senators propose bill for transactions under $50 – CNET – ApparelGeek

Tax Free Crypto Payments Senators propose bill for transactions under

A new bill proposed by two US senators would make cryptocurrency transactions for less than $50 tax-exempt. The Virtual Currency Tax Fairness Act of 2022, which was proposed by Republican Senator from Pennsylvania Pat Toomey and Democratic Senator from Arizona Kyrsten Sinema, has the stated goal of “simplifying the use of digital assets for everyday … Read more

Game pauses on ‘metaverse’ dating and Tinder crypto, stock plunges 20% after surprise loss – CNET – ApparelGeek

Game pauses on metaverse dating and Tinder crypto stock plunges

Shares of Match Group Inc. were pummeled on Tuesday after the online dating company’s new chief executive detailed a slowdown in its most popular product, Tinder, and decided to suspend new initiatives such as crypto-based on Tinder and “metaverse” dating. Match MTCH,+4.32%reported a loss of $31.86 million, or 11 cents per share, compared to earnings … Read more

Lost money from mining $4.5 million crypto wallets? Here’s what you should do – CNET

Lost money from mining 45 million crypto wallets Heres what

Good morning! Welcome to Distributed Ledger, our weekly crypto newsletter that hits your inbox every Thursday. I’m Frances Yue, a crypto reporter at CNET, and I’ll walk you through the latest in this bear market. Find me on Twitter at @FrancesYue_ to send feedback, or tell us what you think we should cover. You can … Read more

Crypto exchange CoinFlex won’t lift withdrawal freeze just yet, despite ‘significant progress’ in fundraising for bailout tokens, CEO says – CNET – ApparelGeek

Crypto exchange CoinFlex, which has halted user withdrawals since June 23, will not lift the freeze on Thursday as originally planned, Mark Lamb, the company’s chief executive, told CNET. The exchange attempted to raise $47 million in USDC USDCUSD stablecoin,since Tuesday through the sale of a token called Recovery Value USD, or rvUSD, in an … Read more

One of Crypto’s Biggest Names Defaulted on $47 Million USDC Debt, Says Coinflex – CNET – ApparelGeek

Chief executive of crypto exchange CoinFlex, Mark Lamb, said on Tuesday that he issued a notice of default to Roger Ver, an early crypto investor and chief executive of Bitcoin.com, alleging that Ver n failed to respond to a margin call and owed the exchange $47 million USDC. Lamb made the comments on Twitter after … Read more

British bride-to-be tried to rob store after crypto scam – CNET – ApparelGeek

British bride to be tried to rob store after crypto scam

A British groom was filmed being tackled as he attempted to rob a store – just moments after learning he had lost the money to pay for his wedding in a crypto scam, a court has heard . Charity worker Louis Crosby, 25, had “naively” converted his savings into a bogus investment in digital cash, … Read more

Crypto crash: What contagious risks could Celsius, Three Arrows pose? Here’s what to watch – CNET

The latest crisis began on Sunday with Celsius, one of the largest crypto lending platforms, suspending all withdrawals, trades and transfers between accounts. The company has reportedly hired restructuring lawyers to advise them on possible solutions to its growing financial problems, according to a report published Tuesday by The Wall Street Journal. Meanwhile, rumors swirled … Read more

Opinion: ‘The sellout panic’ has taken over the stock, bond and crypto markets – and this may be the beginning of the end – CNET

Opinion The sellout panic has taken over the stock bond

The US stock market is experiencing a liquidation panic where everything is sold. The good news is that such panics usually don’t last long. Analysis by Rob Hanna of Quantifiable Edges suggests a rare Inverse Zweig Breadth Thrust (ZBT). Although the sample size is small (n=10 since 1926), the bearish implications of the study are … Read more