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.
Now if you live in a major city and feel like no matter how much money you make it's never enough, you're not alone. Jacqueline Schadeck of New Perspectives Financial is here to show us how you can live within your means and still live comfortably.
China's fast fashion retailer Shein is facing a lawsuit that claims the clothing maker's copyright infringement is so aggressive, it amounts to racketeering.
ChatGPT-maker OpenAI and The Associated Press said Thursday that they've made a deal for the artificial intelligence company to license AP's archive of news stories.
The ongoing liquidation of parent company Bed Bath & Beyond has now officially affected buybuy BABY stores. A judge has approved the sale of the chain's intellectual property for $15.5 million.
Prices for airfare seem to be cooling off. The latest consumer price index showed prices dropped 8.1 percent in June from a month earlier, which is the biggest decline in a year.
Alexander Mashinsky, the former CEO of the failed cryptocurrency lending platform Celsius Network, has been arrested on federal fraud charges, including wire fraud, according to CNBC.
