New York woman charged with sending cryptocurrency to Syrian terrorist group
Manhattan District Attorney Alvin Bragg announced the indictment of a woman on Tuesday for allegedly sending cryptocurrency to a terrorist organization based in Syria.
2022 biggest year ever for crypto hacking, report says
Last year was the biggest year in history for cryptocurrency hacking, according to a new report from the software company Chainalysis. It said $3.8 billion had been stolen in 2022.
Sam Bankman-Fried barred from contacting FTX employees, using Signal messaging app
Sam Bankman-Fried, the FTX founder who is scheduled to face a criminal trial in October, has been blocked by a judge from reaching out by himself to current and former staff.
Founder of Las Vegas-based cryptocurrency company sentenced to 8 years for cheating investors out of millions
The founder of My Big Coin Pay Inc. was sentenced to eight years in prison for cheating investors out of millions. The founder claimed the currency was backed by gold, but it wasn't.
SEC's Hester Peirce urges Congress to enact crypto regulations: Clarity could be provided on many questions
SEC commissioner Hester Peirce discussed the need for Washington lawmakers to establish rules and a regulatory framework for the cryptocurrency space.
Cryptoverse: Big investors edge back to bitcoin
Bitcoin investors might finally be returning to cryptocurrency after the FTX collapse caused a crypto winter that saw the cryptocurrency industry take heavy losses.
SEC commissioner Hester Peirce: Some crypto failures have nothing to do with the asset
SEC commissioner Hester Peirce discusses the need for regulation in the cryptocurrency space as the Celsius exchange faces ponzi allegations on 'The Claman Countdown.'
Prosecutors look to block Sam Bankman-Fried from contacting FTX employees over witness tampering concerns
Federal prosecutors are trying to block FTX founder Sam Bankman-Fried from communicating with current or former employees of FTX over witness tampering concerns.
Custodia Bank's Fed membership application denied by Federal Reserve Board
Custodia Bank's application for Federal Reserve System membership was declined, according to officials, due to concerns with cryptocurrency and safety risks.
FTX crypto founder Sam Bankman-Fried thought jail would be 'like The Shawshank Redemption': report
Disgraced FTX founder Sam Bankman-Fried reportedly said that he thought his time in prison in the Bahamas would be like the 1994 film "The Shawshank Redemption."
Wall Street is 100% in a bull market: Ryan Payne
Payne Capital Management president Ryan Payne and The Fitz-Gerlad Group principal Keith Fitz-Gerald analyze positive economic data ahead of the Fed's January FOMC meeting on 'The Claman Countdown.'
Kevin O'Leary: Under Elizabeth Warren, businesses are 'punished for success'
Millionaire businessman and television personality Kevin O'Leary, a.k.a. Mr. Wonderful, predicts more bankruptcies after the FTX fallout, and discusses his $45 million investment in North Dakota.
Bitcoin world's most hated cryptocurrency
Bitcoin’s recent beatdown didn’t do the cryptocurrency any favors among global investors, but it did give rivals Ethereum and Solana a boost, according to a new survey.
Luno crypto exchange announces job cuts affecting 35% of employees
Luno, a cryptocurrency exchange owned by Digital Currency Group, announced a large round of job cuts on Wednesday, which will affect 35% of the firm's headcount.
House launches new subcommittee on regulating cryptocurrency
Fox News senior congressional correspondent Chad Pergram reports from Capitol Hill, where crypto is largely unregulated.
FBI says North Korea-related hacker group behind US crypto firm heist
The FBI said North Korea's theft and laundering of virtual currency is used to support its ballistic missile and Weapons of Mass Destruction programs.
Binance moved $346M for seized crypto exchange Bitzlato, data shows
Binance, the world's largest crypto exchange, was among Bitzlato's top three counterparties by the amount of bitcoin received between May 2018 and September 2022, the FinCEN said.
Sam Bankman-Fried needs to 'zip it': Ira Sorkin
Mintz & Gold partner Ira Sorkin discusses if accused fraudster Sam Bankman-Fried's 'loose lips' will hurt his criminal case on 'The Claman Countdown.'
Crypto 'not out of the woods yet': Sean Duffy
'The Bottom Line' co-host Sean Duffy discovers Ron Klain stepping down amid Biden's classified documents discovery, cryptocurrency bouncing back and a WaPo writer claiming sleepovers are filled with threats.
Bitcoin jumped over 10 percent in value last week
'The Bottom Line' co-host Sean Duffy discusses Bitcoin and his new FOX Business show.
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.