Bitcoin

Sam Bankman-Fried rescues crypto lenders BlockFi, Voyager

With no central bank willing to come to the rescue, beleaguered crypto companies are turning to their peers for help. Billionaire crypto exchange boss Sam Bankman-Fried has signed deals to bail out two firms in as many weeks: BlockFi, a quasi-bank, and Voyager Digital, a digital asset brokerage. FTX, Bankman-Fried’s crypto exchange, agreed Tuesday to …

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Blockchains Vulnerable to Centralized Control, DARPA Finds

Photo: Dan Kitwood (Getty Images) Researchers at the gonzo Pentagon research agency responsible for introducing the world to stealth bombers, insect-sized surveillance dronesand the internet itself have some reservations about the blockchain technology underpinning Web3. A newly released report commissioned by the Defense Advanced Research Project (DARPA) titled “Are Blockchains Decentralized?” found key vulnerabilities potentially …

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Crypto investors’ hot streak ends as harsh ‘winter’ descends

NEW YORK (AP) — The wealth-generating hot streak for bitcoin and other cryptocurrencies has turned brutally cold. As prices plunge, companies collapse and skepticism soars, fortunes and jobs are disappearing overnight, and investors’ feverish speculation has been replaced by icy calculation, in what industry leaders are referring to as a “crypto winter.” It’s a dizzying …

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What is staked ether (stETH) and why is it causing havoc in crypto?

Ether is the second-largest cryptocurrency in the world by market value. Jaap Arriens | NurPhoto via Getty Images Another controversial cryptocurrency is causing havoc in the digital asset market — and this time, it’s not a stablecoin. Staked ether, or stETH, is a token that’s supposed to be worth the same as ether. But for …

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Bitcoin price drops below $17,800 as sell-off accelerates

Bitcoin plunged to $17,749 and ether fell to $897, as of about 4:15 ET on Saturday afternoon, as the sell-off in the crypto market accelerates. The world’s two most popular cryptocurrencies are down more than 35% in the past week, as both breach symbolic price barriers. Bitcoin peaked at $68,789.63 in November. Ether peaked at …

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