The second installment in Cheddar's Series "The Crypto Craze." Anchors Baker Machado and Tim Stenovec look back at the week in cryptocurrency, and speak with players and experts in this field.
This week, Bitcoin surpassed $17,000 for a short time on Coindesk, and traded around $15,000 on Friday. Litecoin hit a milestone, surpassing $70. But on some exchanges, prices for Bitcoin varied, confusing investors. The Coinbase exchange also took a hit after experiencing record high traffic.
Ryan Surber, Founder of "The Pearly Pig," and contributor for Seeking Alpha, says he could see Bitcoin reaching $90,000 in the near to mid-term. Daniel Roberts, Senior Writer at Yahoo Finance, says that notion is feasible.
We also spoke to an early Bitcoin investor, Jalak Jobanputra, Founder and Managing Partner of Future\Perfect Ventures, who focuses on start-ups in cryptocurrency and blockchain technology. Jobanputra explains the opportunity she sees for Blockchain to disrupt industry.
Depositors withdrew savings, and investors broadly sold off bank shares as the federal government raced to reassure Americans that the banking system is secure following two bank failures.
Pfizer has entered a $43 billion merger agreement with biotechnology firm Seagen in a deal designed to bolster the pharmaceutical giant's efforts to fight cancer
The second-largest stablecoin — a cryptocurrency that is pegged to a fiat currency — USCD depegged from the dollar, hitting an all-time low of around 88 cents over the weekend.
