Cheddar's "The Crypto Craze" covers the latest trends, and news in the space. the cryptocurrency is floating around the $8,000 mark after a dip on Tuesday. The price has been slowly climbing again. The same pattern has been seen in other major cryptocurrencies like Ethereum and Ripple.The price of cryptocurrencies have been mostly stable is the last couple days, a big contrast to the Dow's major moves and volatile swings. Cheddar's Brad Smith and Hope King break down the factors driving this stability and the state of regulation in this space.
Recently the S.E.C. stated it wants to have more of a role in the regulation of cryptocurrency. Tom Smith, Associate Professor at Emory University's Goizueta Business School, joins The Crypto Craze to discuss what that means for crypto traders and more!
Smith cites that the CEO of Ripple recently said we should stop thinking of cryptocurrency are currencies, but more as an underlying asset. Smith believes if people change their mindset, the market for cryptocurrency will change as well.
Peter J. Ferrara, policy analyst and Senior Fellow for Legal Affairs at The Heartland Institute explains a new version of bitcoin called AML bitcoin, which takes the anonymity out of each transaction. He says this change in the technology may flourish if the SEC takes a stronger hold on the regulation of crypto.
Plus, Ferrara believes this is a turning point crypto because now each "wallet" will be tied to a biometric identity. Up until now it's been a little like the wild, wild west. There weren't any laws or sanctions and that caused problems with money laundering and even using crypto as a payment for terrorism.
The IRS said Tuesday it is going to waive penalty fees for people who failed to pay back taxes that total less than $100,000 per year for tax years 2020 and 2021.
Rite Aid has been banned from using facial recognition technology for five years over allegations that a surveillance system it used incorrectly identified potential shoplifters, especially Black, Latino, Asian or female shoppers.
The union representing Southwest Airlines pilots says it reached a new contract agreement in principle with the airline following three years of negotiations.
U.S. Bank has been hit with a $36 million fine for freezing debit cards that distributed unemployment benefits during the pandemic.
Construction of new homes rose by double digits in November, according to data from the Commerce Department.
Cheddar News' Need2Know is brought to you by Securitize, which helps unlock broader access to alternative investments in private businesses, funds, and other alternative assets. The private credit boom is here and the Hamilton Lane Senior Credit Opportunities Fund has tripled in assets under management in just six months from November 2022 through April this year. Visit Securitize.io to learn more.
Stocks opened lower after the opening bell and on track for its first decline in 10 days after a recent winning streak.
Tesla drivers in the U.S. were in more accidents than drivers of any other car brand this year, according to a study.
The promise of self-checkout was alluring: Customers could avoid long lines by scanning and bagging their own items, workers could be freed of doing those monotonous tasks themselves and retailers could save on labor costs.
Monsanto was ordered to pay $857 million to students and parent volunteers at a Washington school.
