The price of bitcoin careened below $40,000 on Wednesday, dragging the entire cryptocurrency space lower, after the People’s Bank of China apparently warned against using digital coins as payment. Bitcoin BTCUSD, -0.68% was last down 18% to $35,734. According to CoinDesk, the cryptocurrency has reached a 24-hour low of $30,201.96, […]
Crypto
This is the year that digital currencies went mainstream. In the span of just three months last spring, China tested its first-ever digital currency in some of its largest cities, hackers breached a major U.S. oil pipeline and successfully demanded a ransom of more than $4 million in Bitcoin, cryptocurrencies […]
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2021 has been a blockbuster year for the crypto space, led by buzzwords like Metaverse, NFTs, DeFi, Scaling solutions, and more. But it wasn’t just the crypto lexicon that saw growth. Popular crypto assets scaled all-time highs, institutional buyers went berserk, and countries turned more accommodative towards specific cryptos. The […]
Accountants and lawmakers are urging standard-setters to fill a void and write concrete rules telling companies how to account for bitcoin and other cryptocurrency assets. The assets, for which there are no binding U.S. accounting requirements, have drawn regulators’ interest after sharp swings in recent months and investments by companies […]
DeFi platforms are structured to become independent from their developers and backers over time and to ultimately be governed by a community of users whose power comes from holding the protocol’s tokens. By comparison, centralized finance, or CeFi, businesses more closely resemble traditional finance, or TradFi, where consumers enter into […]