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.
When cannabis retail store Smacked Village opens its doors to the public Tuesday morning, it will be the Empire State’s second, licensed, adult-use cannabis retail store. But it also claims a lot of firsts.
Candy-maker Mars said it's replacing M&M's beloved spokescandies after criticism over their rebranded looks.
Merriam-Webster bought Quordle, a game similar to the hit Wordle.
Amazon is launching a dedicated cargo fleet in India as it expands in a key market.
Netflix is teaming up with Bumble on a new trivia game within the dating app.
The price of eggs continues to increase and smuggling from Mexico has been reported by U.S. customs officials.
Elon Musk took the stand Monday at his securities fraud trial and testified Saudi Arabia's sovereign wealth fund wanted to take Testa private.
Some of the country's biggest banks are reportedly teaming up to offer a digital wallet to compete with Apple Pay and PayPal.
Microsoft announced an extended multi-year, multi-billion partnership with OpenAI, the parent company of ChatGPT.
Lisa Greene-Lewis, CPA and TurboTax expert, joined Cheddar News to explain the major changes that taxpayers need to know as filing season gets underway.
