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.
Stocks are falling following another mixed batch of profit reports from companies, as rising yields in the bond market up the pressure on Wall Street.
More Americans filed for jobless benefits last week, but layoffs remain historically low despite the Federal Reserve’s aggressive interest rate policy intended to cool the economy and bring down inflation.
Breakfast is getting a bit more affordable as the average price per dozen eggs has been slashed by more than 50 percent since its peak of $5.43 on Dec. 19.
The fallout from the COVID-19 pandemic has been so wide-reaching that 50 percent of Americans say they are worse off than a year ago, the most since the Great Recession of 2008 and 2009.
With mortgage rates at their lowest since September and still showing some signs of decline, more Americans are looking to refinance.
Google unveiled new AI uses in its search and map products.
Colgate is recalling millions of its Fabuloso cleaning products because it may contain bacteria.
Benoit Garbe, chief marketing officer at Anheuser-Busch, joined Cheddar News to discuss Super Bowl ads and what lies ahead after the company ended an exclusive deal with the big game last year.
David Peters, financial advisor and CPA, joined Cheddar News to discuss how families can save money from the Inflation Reduction Act when filing taxes this season.
Cheddar News' Shannon LaNier spoke with owner Kiahna Malloy of Kreme & Krumbs, a Black-owned ice cream shop in Montclair, New Jersey, about why she got into the business.
