Suspected China-based fentanyl suppliers raking in tens of millions in crypto, analysis shows
China-based companies suspected of producing chemicals for illicit fentanyl manufacturing have received at least $38 million in cryptocurrency payments since 2018, Chainalysis says.
Ripple to buy Swiss crypto custody provider Metaco for $250M
U.S. crypto firm Ripple has bought Switzerland-based crypto custody firm Metaco for $250 million, in its first major acquisition, Ripple said on Wednesday.
Shaq accused of avoiding services from lawyers representing FTX investors: report
Shaquille O'Neal has reportedly been avoiding services by the lawyers representing FTX investors who lost their money in the bankrupt cryptocurrency exchange.
FTX sues Sam Bankman-Fried, others in effort to recover $240M from Embed acquisition
The new leaders of FTX have sued the bankrupt crypto exchange's founder, Sam Bankman-Fried, and others involved in its acquisition of stock trading platform Embed.
You can invest like the financially-savvy Taylor Swift, too
RiverNorth Capital Management portfolio manager Steve O'Neill analyzes Taylor Swift's closed-end fund investment strategy on 'The Claman Countdown.'
OpenAI CEO Sam Altman raises $100M for Worldcoin crypto project, which uses 'Orb' to scan your eye: report
OpenAI CEO Sam Altman has reportedly raised nearly $100 million for his cryptocurrency project, Worldcoin, which aims to be the first globally adopted digital coin.
Bitcoin is the only token that is truly decentralized: Natalie Brunell
Coin Stories Podcast host Natalie Brunell provides insight on the cryptocurrency industry on 'Making Money.'
The crypto market is 'not a Republican oasis': Marco Santori
Kraken Exchange chief legal officer Marco Santori and FOX Business' Charlie Gasparino discuss Washington being torn over cryptocurrency and digital asset regulation.
BlockFi moves to liquidate its crypto lending platform
Bankrupt cryptocurrency lender BlockFi plans to liquidate its lending platform after concluding that selling the business to a new owner wouldn’t generate enough value for creditors.
Binance.US says no deal to Voyager Digital
The cryptocurrency exchange Binance.US has canceled a deal to purchase the bankrupt crypto exchange Voyager Digital for $1.3 billion.
FTX founder Sam Bankman-Fried asks court to throw out most charges following indictment
FTX founder Sam Bankman-Fried on Monday urged a U.S. judge to throw out all but three of the charges against him for allegedly stealing from his customers.
Bitcoin's 'growing pains' are nothing to worry about long-term: Brock Pierce
Bitcoin Foundation President Brock Pierce discusses how regional bank turmoil and the government's debt ceiling debacle could impact the evolution of crypto on 'The Claman Countdown.'
ChatGPT is now being used to sell you crypto
Crypto.com is unveiling an AI assistant that customers can use to learn more about cryptocurrency and make informed purchases. The AI, Amy, is based on OpenAI's ChatGPT.
Republicans turn up the heat on Biden's crypto regulation: 'driving innovators out of America'
House Republicans are putting pressure on the Biden administration's oversight of digital assets in a letter to the White House's Council of Economic Advisors.
Bitcoin likely to see new 'all-time highs' by next year: Matt Hougan
Bitwise Asset Management global head of research Matt Hougan put the onus on Congress to create 'rules of the road' for cryptocurrency regulation.
US has an 'alphabet soup' of regulators: Meltem Demirors
CoinShares Chief Strategy Officer Meltem Demirors gives her take on the regulation of cryptocurrency on 'Making Money.'
Andrew Durgee on cryptocurrency: Everyone is pushing for regulation at this point
Head of Republic Crypto Andrew Durgee discusses cryptocurrency regulation and possible 'headwinds' for Bitcoin.
North Korean banker indicted, 2 others sanctioned over cryptocurrency money laundering scheme
A representative of a North Korean bank was indicted Monday and his co-conspirators were sanctioned for their involvement in a cryptocurrency money laundering scheme.
Tokenization is an 'inevitable thing': Brock Pierce
Bitcoin Foundation Chairman Brock Pierce discusses the cryptocurrency industry, the risks to tokenization and Republicans grilling SEC Chairman Gary Gensler over cryptocurrency lawsuits.
Is your bank account safe? Mass layoffs weaken cybersecurity across finance sector
Mass layoffs in 2023 have the diminished cybersecurity workforce and opened a door for cybercriminals to attack online banking, trading, investing and digital assets.
Cryptocurrency FAQs
What is Cryptocurrency?
Cryptocurrency, or crypto, is a form of digital asset that is secured by cryptography and the blockchain. The most notable example of a cryptocurrency is bitcoin, though thousands of other similar assets exist. Cryptocurrencies are regarded by many as the money tech of the future due to their accessibility and un-censorable nature.
How do cryptocurrencies work?
Cryptocurrency networks, or blockchains, are independently verified by a matrix of computers that record all transactions and ensure a consensus throughout the chain. This means that all network information is recorded immutably and permanently; transactions cannot be prevented, blocked, or changed. Network participants can thus trust each other and transact without the need for a centralized intermediary.
How can I buy a cryptocurrency?
There are many markets for cryptocurrencies where you can exchange USD for the cryptocurrency of your choice. These include centralized exchanges and services such as Coinbase and PayPal, or decentralized alternatives like UniSwap where you can swap between crypto-assets. To use a centralized exchange, you’ll need to submit personal information such as your passport or driver’s license. Note that the price of digital assets can change rapidly, so timing your purchases well is essential.
Where can I keep my crypto coins?
Cryptocurrencies can usually be held with the exchange or business you bought them from. However, as these exchanges can be hacked, it is advisable to move your assets to your own personal wallet. These wallets are more secure and can be accessed from your laptop, phone, or other mobile devices.
What can I buy with crypto?
Real work adoption of crypto is still ongoing. However, more businesses are accepting crypto and you can buy goods and services as diverse as real estate, stocks, travel, gambling, websites, and much more. This trend should continue over time as cryptocurrencies become better known, accepted and trusted.
Pros and cons of investing in a cryptocurrency
You may have read the news that crypto has broken all-time highs recently. This is the main advantage, that we are early in the asset’s history and prices have generally gone rapidly upwards. However, you should be aware that volatility is significant and you can similarly lose money quickly if your timing is poor. Security is also a major issue and you must ensure you secure your crypto and transactions well or you could become a victim of theft or fraud.