cryptocurrency

The collapse of the fifth largest cryptocurrency exchange, joining a growing list of crypto casualties this year, has raised serious doubts about the asset class. Observers say more rigorous oversight is coming.

The chair will take a hard line on DDO and crack down on scams, but his major concern is crypto misinformation. “My job is to be frank with the Australian people,” he said.

The technology sector has been the best performing sector since the GFC, returning over 300 percent since December 2008. The question is, where is tech likely to go over the next 6-12 months?

Stablecoins are one type of cryptocurrency that is designed to maintain a fixed value over time. The value of a stablecoin is typically pegged to another asset class such as fiat currencies or precious metals. In this setup, one unit of the cryptocurrency typically equals one unit of the real currency. Unlike highly volatile cryptocurrencies…

Bitcoin, together with all the major cryptocurrencies, is taking a major beating this morning, after China came out and reiterated that “digital tokens cannot be used as a form of payment,” effectively banning the cryptocurrency. Bitcoin is now at its lowest level since early February, and Ethereum has lost more than 7%, with both cryptocurrencies…

Market weakens on China tensions, local tech dumped, hot IPO market cooling The ASX200 (ASX:XJO) fell 0.5%, weakening throughout the day as news continued to worsen.  Initially, it was US payment giant PayPal (NYSE:PYPL) delivering a strong earnings result but announcing they would soon be bringing their BNPL offering to Australia in direct competition with Afterpay (ASX:APT). Shares in APT fell 7.0% and the IT…

China is at it again, this time announcing grand plans to become the world’s first country to launch its own digital currency. But the thing is, China is not the first. To date, Ecuador, Senegal, Singapore and Tunisia have already issued their own cryptocurrencies. Estonia, Japan, Palestine, Russia and Sweden are next on the launchpad,…

Following on from our article “2021’s David vs Goliath battle,” the Reddit WallStreetBets army appears to be losing steam. Last week, they appeared to target Dogecoin, Silver, and now onto Bitcoin. Following the short-squeezing pump-and-dump of GameStop, it appears the army have moved into the crypto market, which is far less regulated than the stock…

Micro-investment platform Raiz Invest (ASX: RZI) capped off a stellar year by announcing the launch of its Custom Portfolio product this week. The option joins the seven existing automated investment portfolios that have seen one of Australia’s first FinTechs grow to over $600 million in assets under management. In a personal letter to shareholders and…

Like most assets, bitcoin cruised into the new year in 2020, racking up a 44% rise until mid-February. Then, like the stock market, BTC took fright at the extent of the global disaster that Covid-19 rapidly proved to become. But while the S&P 500 index plunged by 33.7% before a floor was (at least temporarily)…