Shares of Bitcoin plummeted on Friday. The Verge News Writer Shannon Liao explains the factors driving the price down for this cryptocurrency.
On Friday Coinbase temporarily disabled its platform amid a price rout in the cryptocurrencies. Liao says one theory for the sell off is investors looking to cash out now before the bubble bursts.
Earlier this week Coinbase also halted transactions for Bitcoin Cash after accusations of insider trading surfaced on Twitter. Coinbase CEO Brian Armstrong published the company's employee trading policy on Medium in light of the accusations. "We have no indication of any wrongdoing at this time," said Armstrong.
Shares of Litecoin also plummted this week after the cryptocurrencies founder cashed out. This week shares of Litecoin are down more than 6 percent. Meanwhile, several companies are looking to capitalize on the cryptocurrency craze. This week beverage maker Long Island Iced Tea announced it changed its name to Long Blockchain Corp. Shares of the company jumped 200 percent after the announcement.
A flow of recent data from the U.S. government has made one thing strikingly clear: A surge in consumer spending is fueling strong growth, demonstrating a resilience that has confounded economists, Federal Reserve officials and even the sour sentiments that Americans themselves have expressed in opinion polls.
The U.S. Food and Drug Administration is warning parents and caregivers not to buy or serve certain pureed fruit pouches marketed to toddlers and young children because the food might contain dangerous levels of lead.
Some pumpkin farmers in the West, particularly wholesalers in places like Colorado and New Mexico, are feeling the pinching effects of drought.
General Motors and the United Auto Workers union have reached a tentative contract agreement that could end a six-week-old strike against Detroit automakers, three people briefed on the deal said.
Apple's 8pm ET event Monday will revolve around its iMAC computer lineup of products which are expected to contain its new faster and three next-generation silicon chip.
McDonald's reported better-than-expected profit and sales in the third quarter.
Major stock indexes are slated to close lower this month as investors brace for the Federal Reserve's rate decision and ahead of new jobs data.
The Food and Drug Administration issued an alert and specifically mentioned 26 eye drop products from a number of brands.
Workers at a number of pharmacy chains nationwide were planning a walkout Monday and going through Wednesday.
President Joe Biden on Monday will sign a sweeping executive order to guide the development of artificial intelligence — requiring industry to develop safety and security standards, introducing new consumer protections and giving federal agencies an extensive to-do list to oversee the rapidly progressing technology.
