Why New York's Bitcoin Investigation Will Help the Market Grow
An investigation into Bitcoin exchanges by the New York attorney general could spark volatility in cryptocurrencies, but that may be "part of the evolution" of digital money, said Lynn Martin, the president and chief operating officer of ICE Data Services.
The attorney general, Eric Schneiderman, announced last week that his office was looking into 13 major Bitcoin exchanges, digging for information on processes they have in place to protect investors. The nascent world of digital trading has struggled with fraud, theft, and technical glitches.
Earlier this year, digital currency exchange Coinbase admitted a bug in its system caused it to accidentally overcharge thousands of investors several times for the same purchase. Additionally, one of India's biggest cryptocurrency exchanges, Coinsecure, reported an employee stole $3 million in bitcoin from the platform.
The New York investigation was not a major concern, said Martin, who added that the the cryptocurrency market was in its “infancy,” and transparency would be important for it to grow.
After a steep drop from enthusiastic highs late last year, Bitcoin has rallied recently. Adam Back, co-founder and CEO of Blockstream, said in an interview with Cheddar that the market was, “reacting to tax day passing." Bitcoin rebounded above $9,000 over the weekend.
For full interview, [click here](https://cheddar.com/videos/revolutionizing-crypto-trading).
Scott Gutz, CEO of Monster.com breaks down the company’s Work Watch Report for 2024, including what’s motivating workers to look for new positions and why they should see A.I. as an opportunity.
Tom Graff, Chief Investment Officer, Facet, discusses what the latest jobs report says about this ‘pretty good’ labor market and why the market should worry less about the Fed’s next decision.
Universal Music Group, which represents artists including Taylor Swift, Drake, and Ariana Grande, has removed its music from TikTok and accused the app of bullying and intimidation.
The average rate on a 30-year mortgage fell 0.06% last week. Although the rate is much higher than it was two years ago, the decline could relieve buyers already dealing with low inventory and high prices.
As millions of Americans are set to retire, John Carter, President & COO of Nationwide Financial, shares what to expect and how consumers of all ages can better prepare for their golden years.
The heated hearing began with recorded testimony from kids and parents talking about being exploited on social media. Throughout the hours-long event, parents who lost children to suicide silently held up pictures of their dead kids.
