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.
'Pride Portraits' is a trans-led organization aiming to visually represent the LGBTQ+ community one photograph at a time. Eden Rose Torres, founder and president of Pride Portraits, joins Cheddar News to discuss its participants and the issues the LGBTQ+ community still faces.
President Biden proposed a new rule that would add 500,000 chargers for electric vehicles nationwide. The proposal comes amid the rapid shift to EVs with dozens of automakers announcing plans for all-electric fleets within the next decade. But with the new surge will the U.S. have the proper infrastructure to keep up? Scott Painter, founder and CEO of Autonomy.com joined Cheddar's Opening Bell to discuss. "I really think the idea of standardization is a big deal. Standardization certainly makes it much better for everybody to be able to get a charge when they need one," he said.
The Buy Now, Pay Later trend no longer has the luster it once had during the pandemic. Brandon Kreig, Stash CEO and co-founder, joins Cheddar News to give us insight on what happened and what's next for BNPL companies.
Join Cheddar News as we break down the top headlines this morning including updates on the Jan. 6 hears, the PGA suspension of 17 of the world's best golfers, and NASA's plans to study UFOs.
The national average for a gallon of gas is closing in on $5 dollars per gallon and it's putting pressure on already strained budgets. The summer travel season could stall out before it even gets started. Cheddar's Shannon Lanier has some great hacks to help you save a few bucks at the pump.
