This week both Bitcoin and Ethereum surpassed new milestones. After surpassing the $11,000 mark this week, Bitcoin is now trading at $9,614. Nick Spanos, Founder of Bitcoin Center NYC and Ryan Vlastelica, Reporter at Marketwatch, break down their take on the cryptocurrency market.
Bitcoin has been extremely volatile to its inception, but this past year has seen a major move to the upside, says Vlastelica. While the IRS treats Bitcoin like a commodity, Vlastelica explains how this cryptocurrency is being legitimized by other financial markets. Big steps include introducing futures contracts tethered to cryptocurrency, a Bitcoin based ETF, and corporate use of blockchain.
Spanos launched Bitcoin Center NYC, a brick-and-mortar place dedicated to promoting Bitcoin, and says he doesn't think Bitcoin is in a bubble. He thinks Bitcoin still has a way to go upward, and only 21 million Bitcoin in the world will ever be released on Blockchain.
Low-value imports are losing their duty-free status in the U.S. this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods. A widely used customs exemption for international shipments worth $800 or less is set to end starting on Friday. Trump already ended the “de minimis” rule for inexpensive items sent from China and Hong Kong, but having to pay import taxes on small parcels from everywhere else likely will be a big change for some small businesses and online shoppers. Purchases that previously entered the U.S. without needing to clear customs will be subject to the origin country’s tariff rate, which can range from 10% to 50%.
Southwest Airlines will soon require plus-size travelers to pay for an extra seat in advance if they can't fit within the armrests of one seat. This change is part of several updates the airline is making. The new rule starts on Jan. 27, the same day Southwest begins assigning seats. Currently, plus-size passengers can pay for an extra seat in advance and later get a refund, or request a free extra seat at the airport. Under the new policy, refunds are still possible but not guaranteed. Southwest said in a statement it is updating policies to prepare for assigned seating next year.
Cracker Barrel is sticking with its new logo. For now. But the chain is also apologizing to fans who were angered when the change was announced last week.
Elon Musk on Monday targeted Apple and OpenAI in an antitrust lawsuit alleging that the iPhone maker and the ChatGPT maker are teaming up to thwart competition in artificial intelligence.
Hear from Gabino & Stephen Roche on Saphyre’s institutional AI platform that centralizes pre‑ and post‑trade data, redefining settlement speed and accuracy.
Elon Musk’s X has reached a tentative settlement with former employees of the company then known as Twitter who’d sued for $500 million in severance pay.
