Ripple's XRP cryptocurrency soaring to new heights this week. Coindesk's Director of Research Nolan Bauerle and Fortune Staff Writer Robert Hackett explain factors driving altcoins up, and Bitcoin down.
"Bitcoin has an enviable problem of being so popular, and such strong brand name that it became hard to access," says Bauerle. "I think when people saw that surge hit in December they said well I'll try something else." Altcoins like Ripple's XRP, Ethereum, and Tron posted significant gains in the first week of 2018.
"Retail investors are gobbling it up," says Hackett on some companies adding the word "Blockchain" to their name. " On Thursday Ripple's co-founder Chris Larsen became one of the wealthiest Americans on paper with his shares of the cryptocurrency growing to more than $59 billion. But Hackett says its important to note these shares are hard to transfer to direct wealth. Even if he were able to cash out all of his fortune, the markets would not handle it well says Hackett.
Big Business This Week is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street.
Citi told most of its employees that they could work from home at the end of the month, according to CNBC.
Chobani paid $900 million to purchase ready-to-drink coffee maker La Colombe.
Kerri Quigley, founder of The Fashion Class, spoke with Cheddar News on how to make an ugly sweater on a budget.
With Christmas only 10 days away, some kids may notice that there's a lot of spending going on this holiday season. Dr. Regine Muradian, licensed clinical psychologist, joined Cheddar News to provide tips on how to teach kids the value of gifts and money.
It appears that people are cutting back on tipping with gratuity requests spreading far beyond bars and restaurants.
New data is showing rent prices are on the decline.
If you qualify for the student loan interest deduction, you can deduct up to $2500 a year in interest paid on education debt.
The U.S. labor agency is trying to force Starbucks to reopen 23 stores that it closed allegedly to discourage a nationwide union campaign
A surge in holiday spending could help combat inflation worries.
