Latest news with #CryptoWeekly
Yahoo
12-06-2025
- Business
- Yahoo
Crypto Weekly: from stablecoins to Syria
STORY: From SocGen's stablecoin to why Binance is opening up to Syria. :: Crypto Weekly This is Crypto Weekly. :: Societe Generale's stablecoin French bank Societe Generale is to become the first major European lender to launch a dollar-pegged stablecoin. It will launch via its crypto subsidiary SG-FORGE, Named "USD CoinVertible" - it will exist on the Ethereum and Solana blockchains. And is expected to be publicly tradable from July. :: New York crypto kidnapping case Two men pleaded not guilty on Wednesday (June 11) to charges they kidnapped a man for three weeks in Manhattan's upscale SoHo neighborhood. They're accused of shocking him with electric wires and dangling him over a staircase to try to get him to give up his bitcoin password. John Woeltz and William Duplessie both face up to life in prison if convicted. :: What's the point of meme coins? With Bitcoin on the march and crypto IPOs hotting up, what's the story with meme coins? This week Reuters spoke with John D'agostino who is head of institutional strategy at Coinbase. " I think of them as digital collectibles and if people want to engage in the collecting of collectibles, more power to them. And there's a very, very low cost of entry to doing that. Think of it like Etsy, but instead of having to like create the thing, you could magically create it in 10 seconds with almost no money. Think about what Etsy would turn into like a billion projects, right? If you didn't need it, if it was easy to crochet, right, if and it was free, almost free to crochet everyone would be posting things to Etsy." But are meme coins a good investment? " I like to fish and I don't catch anything. So you can make an argument that the money I spend on fishing is completely wasted and nonsensical. So I try not to judge people. People wanna buy something because they believe it helps them belong to a community. I try to not be judgmental of that. Everybody has different ways of spending their disposable income." :: Binance opens up to Syria Binance will allow users in Syria to trade in cryptocurrencies, including bitcoin, on the platform. It follows a U.S. decision to lift sanctions on the country last month. Binance, the world's largest cryptocurrency exchange, said that Syrians will be granted full access to its offerings. Which include more than 300 cryptocurrency tokens and stablecoins. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
12-06-2025
- Business
- Yahoo
Crypto Weekly: from stablecoins to Syria
STORY: From SocGen's stablecoin to why Binance is opening up to Syria. :: Crypto Weekly This is Crypto Weekly. :: Societe Generale's stablecoin French bank Societe Generale is to become the first major European lender to launch a dollar-pegged stablecoin. It will launch via its crypto subsidiary SG-FORGE, Named "USD CoinVertible" - it will exist on the Ethereum and Solana blockchains. And is expected to be publicly tradable from July. :: New York crypto kidnapping case Two men pleaded not guilty on Wednesday (June 11) to charges they kidnapped a man for three weeks in Manhattan's upscale SoHo neighborhood. They're accused of shocking him with electric wires and dangling him over a staircase to try to get him to give up his bitcoin password. John Woeltz and William Duplessie both face up to life in prison if convicted. :: What's the point of meme coins? With Bitcoin on the march and crypto IPOs hotting up, what's the story with meme coins? This week Reuters spoke with John D'agostino who is head of institutional strategy at Coinbase. " I think of them as digital collectibles and if people want to engage in the collecting of collectibles, more power to them. And there's a very, very low cost of entry to doing that. Think of it like Etsy, but instead of having to like create the thing, you could magically create it in 10 seconds with almost no money. Think about what Etsy would turn into like a billion projects, right? If you didn't need it, if it was easy to crochet, right, if and it was free, almost free to crochet everyone would be posting things to Etsy." But are meme coins a good investment? " I like to fish and I don't catch anything. So you can make an argument that the money I spend on fishing is completely wasted and nonsensical. So I try not to judge people. People wanna buy something because they believe it helps them belong to a community. I try to not be judgmental of that. Everybody has different ways of spending their disposable income." :: Binance opens up to Syria Binance will allow users in Syria to trade in cryptocurrencies, including bitcoin, on the platform. It follows a U.S. decision to lift sanctions on the country last month. Binance, the world's largest cryptocurrency exchange, said that Syrians will be granted full access to its offerings. Which include more than 300 cryptocurrency tokens and stablecoins.
Yahoo
22-05-2025
- Business
- Yahoo
Crypto Weekly: Attack anger and Coinbase's cyberattack fallout
STORY: From anger in France... To a DoJ investigation into Coinbase. This is Crypto Weekly. :: Crypto Weekly :: Fear and anger in France French crypto bosses have reacted with fear and anger after a series of violent kidnappings. Some have stepped up security, while others are calling for a tougher crackdown. As well as deregulation to keep the crypto paper trail more anonymous. In the latest incident on May 13, a masked gang tried to abduct the daughter of Pierre Noizat, the CEO of the French crypto firm Paymium. The recent attacks have led some crypto execs to take extra security measures. Alexandre Aimonino is cofounder of cryptocurrency compliance firm Seqlense. "I don't go to certain crypto meetings anymore where I had the habit to go before. I try to park as close as possible to the destination when I have to go somewhere; that's this kind of security measure. When I go home, I never take the same road or the same path. Just to avoid being followed by anyone. :: Hong Kong's stablecoin bill Hong Kong has passed a stablecoin bill that establishes a licensing regime for fiat-referenced stablecoin issuers in the city. Any person who issues stablecoins in Hong Kong - or issues stablecoins backed by Hong Kong dollars, whether within or outside the city - must obtain a license. Hong Kong has been stepping up efforts to enhance the city's competitiveness as a global digital asset hub. Stablecoins are a type of cryptocurrency designed to maintain a constant value, usually pegged to a currency. And are commonly used by crypto traders to move funds between tokens. :: Bitcoin's recovery The price of Bitcoin rose to its highest level on record on Wednesday, eclipsing the previous high from January. On Thursday it rose for the fifth-straight session reaching $111,862. The world's most valuable cryptocurrency is recovering from the tariff-induced selloff last month. :: Coinbase cyberattack The U.S. Department of Justice has opened a probe into a recent breach at the world's largest cryptocurrency exchange Coinbase Global. The company said it expects a hit of up to $400 million from the cyberattack. Last week it said it received an email from an unknown threat actor on May 11. They claimed to have information about certain customer accounts as well as internal documents.
USA Today
07-05-2025
- Business
- USA Today
US stock futures rise on news of China-US trade talks
US stock futures rise on news of China-US trade talks Show Caption Hide Caption Crypto Weekly: Family fortunes and GameStop's pivot GameStop's crypto pivot GameStop shares were back in action as the company's move to hoard bitcoin brought retail investors back to the meme stock. U.S. stock futures point to a higher open on news China and the U.S. will begin trade talks later this week in Switzerland. The Treasury and U.S. Trade Representative's office said Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer would travel together to Geneva on May 8 to meet with China's top economic official. Discussions will center around de-escalation, an initial step seen towards trade talks. The meeting is the first one confirmed between the countries since President Donald Trump announced tariffs as high as 145% on China that were met with retaliatory rates of 125% from Beijing. Escalating rhetoric between the two countries have roiled markets and added much uncertainty to the economy. So, opening talks will likely be a relief to investors. The U.S. pair will also meet with Swiss President Karin Ketter-Sutter to discuss negotiations over reciprocal trade. At 6:40 a.m. ET, futures linked to the blue-chip Dow rose 0.60%, while broad S&P 500 futures added 0.53% and Nasdaq futures gained 0.51%. Fed meets Investors also look forward to the outcome of the Fed's policy meeting at 2 p.m. ET. No rate move is expected, but people will be keen to hear what Fed Chair Jerome Powell thinks of the economy, inflation, jobs and tariffs. Most economists expect him to say the Fed will keep rates steady until it can get a clearer picture of where tariff rates might settle and for how long. A wait-and-see approach may spur criticism from Trump, who's been calling for the Fed to lower rates immediately. "'The Federal Reserve appears dead set to keep policy unchanged on Wednesday, with chair Powell set to defy pressure from the White House and signal that the FOMC (Federal Open Market Committee) is in no rush to lower rates again," said Matthew Ryan, Head of Market Strategy at global financial services firm Ebury. "President Trump's tariffs have added considerable uncertainty to the path ahead for U.S. rates. While the growth outlook has undoubtedly worsened, the resilience of the labour market and the significant inflationary pressures brought about by the tariffs suggests that the Fed will adopt a more balanced approach to policy." Company news Super Micro Computer missed expectations for the third fiscal quarter and gave a weak outlook for the current three-month period. Advanced Micro Devices' quarterly results missed analysts's forecasts. Wynn Resorts reported disappointing results for the first three months of the year. Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@ and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday.
Yahoo
17-04-2025
- Business
- Yahoo
Crypto Weekly: Amazon outage impacts Binance, Bhutan mines 'green'
STORY: From seized crypto in China. To 'green' mining in Bhutan. :: Crypto Weekly This is Crypto Weekly. :: China's seized crypto China's growing pile of cryptocurrencies seized from illegal transactions is prompting local governments to find ways of disposing the hoard. And is spurring calls from courts and the financial industry for better regulation. Lawyers say the lack of rules around how authorities should handle seized bitcoin and other tokens has spawned inconsistent approaches. And some fear this could embolden lawbreakers and foster corruption. Crypto trading is banned on the mainland. :: Crypto investors 'sidelined' Outflows from Bitcoin ETFs in the U.S. surged last week as trade war concerns gripped the market. According to data from SoSoValue - the 12 Bitcoin ETFs saw outflows of over $700 million - a more than 300% increase from the week before. Peter Chung from Presto Research told Reuters that this wasn't a surprise. :: Peter Chung, Head of Research, Presto Research "I think similar to what we are seeing in the traditional finance market, there is generally a risk of trade happening in the crypto space as well. For the time being unless we get some more clarity on how the growth outlook is going to look like in the midst of all these tariff negotiations, I think people will generally stay sidelined on investment in risk-on-assets that includes crypto ETFs as well." :: Amazon's outage Crypto exchange Binance said it briefly stopped allowing users to withdraw from the platform on Tuesday. It was due to an issue involving an Amazon Web Services data center. A spokesperson for Binance said withdrawals were suspended for around 23 minutes. :: Bhutan turns to 'green' crypto The Himalayan nation of Bhutan is exploring ways to mine and leverage green cryptocurrencies using hydropower. Its sovereign wealth fund says it could boost its economy and create jobs to reduce brain drain. Green cryptocurrencies are mined using clean energy resources such as wind, hydro or solar power.
