Cryptocurrency lower heading into new week; states working on crypto legislation
Many states are eager to attract the jobs they think the industry will bring and are rushing to grant the legislative wishes of the crypto companies
FOX Business Flash top headlines for April 8
Here are your FOX Business Flash top headlines for April 8.
Bitcoin joined many of the major cryptocurrencies trading lower early Monday morning as crypto executives and lobbyists in the U.S. -- in the absence of federal regulations -- are working with state lawmakers across the country to craft favorable legislation, a report said Monday.
Bitcoin was trading at approximately $42,305 (-0.72%), while Ethereum and Dogecoin were trading at $3,175 (-2.10%) and 14.58 cents, respectively, according to CoinDesk.
Many states are eager to attract the jobs they think the industry will bring and are rushing to grant the legislative wishes of the crypto companies, the report said.
How strong is the interest in cryptocurrency? Well, this past weekend’s Bitcoin 2022 conference in Miami Beach attracted some 25,000 attendees.
Top-10 UFC flyweight fighter Matheus Nicolau says he has signed a contract to be paid entirely in Bitcoin to secure his future financially.
Bitcoin was trading above $42,300 early Monday morning as overall the cryptocurrency market was down overall. (iStock / iStock)
Meanwhile, Barstool Sports Founder and President Dave Portnoy, appearing on "Varney & Co." from the Bitcoin 2022 conference in Miami, Friday, said the cryptocurrency market has become nearly "too big to fail."
"You go to a conference like this, and it's hard not to be moved," Portnoy told Stuart Varney. "I think it's so big now and there's so much money behind it, it's almost too big to fail, almost too big to go away."
The annual event is said to be the largest congregation of bitcoin protagonists in the world, bringing together more than 30,000 people, according to its website.
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Portnoy has been open about betting big on crypto, telling Varney in February that he invested $1 million in bitcoin.