On Wednesday over $200 billion was eliminated from the value of the cryptocurrency market. Frank Chaparro, Finance Reporter at Business Insider, joins Your Cheddar to discuss the reason for the recent sell-off, and walks us through some of the pros and cons of investing in the currency.
Chaparro says excitement drove the price up to begin with, and now investors are seeing the market sink and are getting out. He says it's important to know that if you invest, you need to be prepared to lose all your value. He adds that if you don't have money to lose, you may not want to take a chance.
Plus, Chaparro notes that it's very important for the individual to keep track of their bitcoin. There is no bank that regulates or guarantees you'll get your money should you lose the ID number for your crypto. He also talks about some of the advantages of investing, such as learning a new technology (blockchain) that many experts say will be an important aspect of our lives in the future.
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Nestlé has dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The company announced on Monday that the dismissal was effective immediately. An investigation found that Freixe violated Nestlé’s code of conduct. He had been CEO for a year. Philipp Navratil, a longtime Nestlé executive, will replace him. Chairman Paul Bulcke stated that the decision was necessary to uphold the company’s values and governance. Navratil began his career with Nestlé in 2001 and has held various roles, including CEO of Nestlé's Nespresso division since 2024.
