After one of the most volatile days in recent history, Bitcoin is making it's way back up. The cryptocurrency lost nearly 33% of its value in one day and there is no guarantee that it won't happen again.
Jimmy Song is a Bitcoin developer and expert and he joins Cheddar to explain that Bitcoin will not become any less volatile. Song says the cryptocurrency will continue to track all over the map. Overall, he sees it increasing in value.
Song also notes the investment trends within the Bitcoin world. He explains that a lot of the investors are younger, in the millennial group, because that generation is most comfortable with technology and technology investments. Song also notes that Bitcoin is unique because it is an asset that was first traded by individuals before larger institutions because interested and involved.
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.
A federal judge has struck down hundreds of lawsuits filed against the makers of Tylenol and generic acetaminophen.
