Bitcoin has increased 1,000% in over a year and has forced the finance world to take note. But why has the price skyrocketed? PCMag.com editor Rob Marvin says it's because the rest of the cryptocurrency landscape has changed. In addition to Bitcoin there is now: Ethereum, Litecoin, Zcash, the forked Bitcoin Cash.
Plus, the former Chief Economist of the of The World Bank wants Bitcoin banned but is that going too far? Marvin and Fortune's Robert Hackett say that's a bit extreme, but more regulation may need to be put in place if the price continues to rise.
Amazon unveiled its new mobile app called Amp as a direct competitor to Clubhouse, allowing people to host live radio shows. Although it is still in beta, users can join the waitlist from the iOS store.
The war in Ukraine continues to reveal heartbreaking gut-wrenching stories. The war in itself is not only devastating but also expensive. Experts estimate that Russia is draining nearly $20 million dollars each day to continue occupying and invading Ukraine. All this could force the country to turn to cryptocurrencies. It's a major turn for the country that briefly considered outlined digital assets entirely, but it could also have serious implications for cryptos. Managing Director at Quantum Fintech Group, Harry Yeh, joined Cheddar to discuss more.
As Russia intensifies its war on Ukraine, President Biden announced a ban on oil imported from the aggressor nation. Critics of Russia have said this would be the best way to force Putin to pull back, but curbs on Russian oil exports are expected to send already skyrocketing oil and gas prices even higher, further impacting consumers, businesses, financial markets, and the global economy. Leslie Beyer, CEO of the Energy Workforce and Technology Council, joined Cheddar News' Closing Bell to discuss. "It's certainly going to increase pricing, but it is the right thing to do," she said. "The industry itself has already pulled out of the significant portion of its operations in Russia."
Two friends have joined forces to come up with an app dedicated to making mental health more approachable and to provide users with the tools needed to improve their mental health and overall well-being. Co-Founders of the Dial App Jonah Salita and Marcel Johnson, joined Cheddar to discuss more.
