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.
Transit technology company Via raised $110 million in a new round of financing. Clara Fain, chief financial officer of Via, joined Cheddar News to discuss the company's mission to digitize public transit globally.
Over 100,000 job cuts were announced across major industries in January, according to a report. Jon Bell, an employment attorney with Bell Law Group, joined Cheddar News to discuss unemployment benefits and severance packages.
Karen Robbins, senior vice president with UBS Wealth Management, joined Cheddar News to discuss Friday's mixed session as officials hinted at more interest rate hikes.
The Week's Top Stories is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street.
A new study predicts that rising energy costs that have followed in the wake of Russia's war with Ukraine could push millions of people around the globe into extreme poverty.
In celebration of Black History Month, Cheddar News correspondent Shannon LaNier visited Black-owned Montclair Brewery in New Jersey for a behind-the-scenes look at how beer is made.
