Why Major Cryptocurrencies Are Having a Relatively Flat Week
A relatively flat week for the three major cryptocurrencies Bitcoin, Ethereum, and Ripple's XRP. Canaccord Genuity Managing Director Michael Graham explains the latest trends in the market and his outlook for the year ahead.
Graham cites increased regulation in South Korea and China as driving prices down from all-time highs. "For the last couple week's we've been sort-of recovering from all that," explains Graham.
This week Coincheck confirmed it suffered what appears to be the biggest hack in cryptocurrency. The Japanese exchange says around tokens worth $533 million dollars were taken from the exchanges digital wallets. "I think the fact that the crypto markets are being resilient in the face of the biggest hack ever potentially for crypto exchanges is pretty interesting," said Graham.
Bitcoin still trading far from its all-time high around $20,000. Today, Bitcoin trading about 12 percent down from last week. Ethereum hovering just over $1,000, down about 6 percent over the course of the last week.
Century 21 was a long-time staple for bargain shopping in Manhattan when it went belly up in 2020 at the height of the COVID-19 pandemic. Now, as of last week, the store has reopened and some locals see it as a sign of an economic recovery in New York City.
Paramount Global is set to absorb Showtime into Paramount+, creating a single streaming option to compete with the likes of Netflix and Warner Bros. Discovery’s Max. The company also plans to raise the monthly price from $9.99 to $11.99 per month after the integration.
Debt ceiling talks are underway in Washington, DC ahead of a default deadline. Michael Rosen, chief investment officer with Angeles Investments, joined Cheddar News to explain how a potential default could affect investment portfolios, among other items, for Americans.
Australia's government announced regulations for buy now, pay later services, which will be labeled as consumer credit products, which puts them under the country's Securities and Investments Commission's watch.
Walmart is reportedly teaming up with pet telehealth provider Pawp, giving subscribers unlimited access to vet services via video and text, starting on Tuesday.
Cheddar News checks in to see what's on The Day Ahead, which will include earnings from Lowe's, Dick's Sporting Goods, BJ's and AutoZone along with new home sales data. In addition, Microsoft's Build 2023 Developer Conference is slated to kick off for software engineers and web developers.
