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.
More big-name companies are slated to report earnings next week. Cheddar News dives into what will move markets as key economic data are also set to be released.
OKCupid is teaming up with ChatGPT as it tests an AI-generated questions for matching on its app.
Jeep unveiled a limited edition Wrangler, its most expensive version yet at $115,000.
The impact of inflation continues to burden families on a wide range of issues, such as childcare.
U.S. markets ended the week in the red as investors are figuring out how the Federal Reserve will act on interest rates moving forward. Cheddar News speaks with Steve Sosnick, chief strategist at Interactive Brokers, who breaks down the markets' action.
Jeanine Poggi, editor at Ad Age, joined Cheddar News to discuss the commercials slated to make their marks during the Super Bowl.
Cheddar News dived into its Stock of the Week, which is Uber, which topped estimates for its latest earnings report.
Average babysitting rates are skyrocketing, according to a survey.
Bill Gates called ChatGPT as significant as the internet.
Julia Pollak, chief economist with ZipRecruiter, joined Cheddar News to offer tips on what recruiters are looking for in a job candidate.
