In brief

$108,293.00
-0.78%$2,521.34
-2.13%$2.23
-0.77%$655.86
-0.76%$147.65
-2.91%$0.999897
-0.00%$0.282961
-1.19%$0.164436
-3.45%$2,520.15
-2.15%$0.578389
-1.99%$108,154.00
-0.82%$39.20
0.19%$3,042.24
-2.29%$2.90
-2.82%$484.67
-0.99%$13.22
-2.47%$9.05
0.25%$17.82
-4.99%$0.999904
0.02%$0.238203
-0.97%$0.00001154
-2.19%$2,699.83
-2.10%$2.73
-3.19%$2,521.04
-2.10%$86.61
-2.01%$0.154468
-1.89%$44.91
2.75%$0.99994
-0.08%$313.78
-1.29%$1.00
0.01%$108,270.00
-0.77%$4.42
-1.85%$3.37
-3.91%$6.91
-6.88%$0.00000975
-1.42%$268.07
-2.81%$0.471738
-2.34%$1.18
0.02%$48.96
-1.97%$322.13
-3.82%$4.40
-6.07%$1.00
0.00%$179.32
-2.94%$2.13
-4.53%$4.78
-3.37%$0.081072
-1.84%$16.33
-2.85%$0.776296
-0.20%$1.058
0.01%$0.999747
-0.11%$0.075498
-2.96%$4.43
0.33%$0.564299
-2.72%$15.35
-2.88%$4.00
-3.20%$0.02087641
-3.77%$0.671377
-5.38%$21.59
-10.63%$8.58
-2.90%$108,053.00
-1.08%$0.077617
-2.59%$3.14
-3.65%$0.17954
-3.77%$0.25418
-6.18%$0.321954
-4.88%$108.89
-0.10%$2.26
-4.64%$2,519.89
-2.23%$4.46
-1.29%$0.174037
-2.67%$0.877225
-5.77%$0.99792
0.02%$0.999673
-0.01%$0.259839
-0.79%$11.03
-0.23%$156.55
-3.02%$0.00001762
5.32%$1.001
0.05%$0.437627
-4.44%$1.22
-0.04%$2,641.80
-2.12%$2,872.48
-2.08%$1.18
-1.85%$1.23
-2.74%$0.0166493
-1.29%$10.83
-5.54%$1.00
0.00%$1.50
-7.66%$0.01644565
-0.92%$1.57
-3.93%$0.312066
-4.28%$0.999862
-0.03%$0.650941
-4.03%$0.060872
0.78%$2,696.22
-1.97%$2,647.47
-2.13%$1.11
0.06%$3,344.57
0.04%$0.531592
-5.90%$107,863.00
-1.32%$0.154728
-4.55%$108,180.00
-0.83%$0.999648
0.01%$655.94
-0.78%$2,654.97
-2.04%$0.846421
-5.66%$108,904.00
1.24%$2.90
-0.73%$3,336.73
0.02%$0.082706
-4.14%$0.427022
-6.41%$2.24
-2.84%$0.481193
-2.63%$165.60
-2.93%$2,723.68
-2.22%$192.82
-2.94%$0.00007425
-4.45%$111.69
0.00%$2.05
-2.12%$0.6901
-2.83%$0.499744
-4.73%$10.73
0.00%$0.998091
0.05%$0.724758
-5.06%$0.754297
-1.65%$39.74
-2.23%$1.088
-0.16%$0.01390989
-4.59%$18.52
-3.22%$39.17
0.14%$0.155556
-3.49%$0.00000061
-1.69%$0.241723
-3.88%$0.01217088
-2.01%$107,358.00
-1.69%$0.998232
0.07%$0.220961
-0.91%$0.416831
-3.32%$0.532942
-1.03%$108,002.00
-0.68%$2,520.58
-2.19%$0.530544
-3.37%$0.096456
-6.04%$3.36
-2.94%$2.07
-4.18%$2,520.78
-2.14%$2,690.06
-2.23%$1.00
-0.01%$0.00803558
0.30%$2,604.07
-4.72%$0.323834
-3.44%$108,151.00
-1.04%$2,521.13
-2.14%$0.503709
-0.93%$24.85
3.38%$0.257339
-3.66%$0.998133
-0.05%$39.16
0.04%$0.999799
-0.00%$0.599075
-3.45%$0.01389224
-3.03%$1.31
-5.22%$0.9999
0.00%$0.207747
3.92%$0.00000044
-0.89%$0.060299
-0.90%$0.395667
-2.00%$7.47
0.28%$1.36
-2.46%$0.164453
-3.53%$0.04223937
-2.88%$0.160281
-0.95%$0.00410972
-4.77%$1.093
0.03%$2.22
-2.47%$0.999531
0.01%$0.999966
-0.01%$0.111622
-4.15%$0.00692673
-3.92%$0.524495
-4.69%$0.390954
-3.09%$41.53
-3.03%$2,680.12
-2.24%$0.321983
3.04%$5.40
-4.15%$13.37
-4.13%$0.00000096
-6.55%$0.072915
-3.42%$1.001
0.35%$0.00001853
-1.90%$108,093.00
-0.69%$1.50
-5.84%$2,518.19
-2.13%$0.143356
-3.06%$2.16
-4.89%$0.00385458
-2.59%$0.999885
-0.01%$1.12
-2.29%$0.933775
-4.24%$2,779.73
-2.18%$0.344206
-7.24%$0.481213
-2.44%$0.03427881
-0.97%$0.03493047
-3.31%$2,759.89
-2.00%$20.33
0.92%$0.999351
-0.01%$108,205.00
-0.78%$5.06
-4.75%$0.01719251
-1.74%$0.04598547
-4.70%$0.492039
0.82%$2,522.59
-2.12%$0.316534
-3.70%$1.094
-2.10%$0.998811
0.01%$0.999796
-0.00%$0.00593923
-0.73%$0.066647
-6.09%$0.00365174
6.98%$0.00005589
-2.08%$1.12
3.91%$2,516.31
-2.20%$0.999445
0.01%$10.09
-1.16%$161.22
-2.83%$0.299996
-5.66%$1.003
0.25%$0.114709
1.61%$108,198.00
-1.09%$109.56
-2.41%$0.638439
-3.84%$0.691755
-3.38%$0.00000141
-4.12%$0.28456
19.91%$3,050.80
-2.23%$1.02
0.07%$17.82
-5.16%$1.22
0.01%$105,560.00
3.29%$0.59468
-0.88%$2,174.47
-0.75%$1.63
-0.01%$15.66
-1.78%$0.179733
-3.70%$0.430743
5.94%$0.02610092
-5.55%$0.0029788
-1.27%Reading
Cryptocurrencies “could lead the charge into the next financial crisis,” argued Brett Heath, CEO of precious metals company Metalla Royalty & Streaming.
Metalla allows investors to get exposure to precious metals such as gold and silver by acquiring royalties and streams. In other words, the firm uses royalties on assets owned by major mining companies to generate returns for its shareholders.
President Joe Biden today announced a monster new spending budget, and the price of Bitcoin scraped the $40k mark following the news. Biden’s proposal is to spend $6 trillion next year in the biggest federal spending since World War 2, according to a Thursday New York Times report. And Biden will push Congress to up the federal spending to $8.2 trillion by 2031. The price of Bitcoin jumped roughly 7% following the news, trading above $40,000, but has since retraced its steps. It’s now trading...
“When you look back to the last few decades, and you look at all of the financial crises that happened, they all have a couple of things in common. And one of them is the mass adoption of a new financial product or a new technology that’s not very well understood,” Heath said in an interview with Kitco News on Thursday.
He drew comparisons to the mass adoption of mortgage-backed securities, collateralized debt, and loan obligations shortly before the 2008 crisis.
At the time, the public quickly embraced these new financial products—and they crashed afterward, creating a “huge problem that had repercussions out through the entire world.”
The tech crash in the early 2000s was “the same type of situation,” said Heath.
“You had a new technology that no doubt changed the world, but it wasn’t very well understood. And so we had tech companies pop up all over the place that were actually worth nothing, and this ultimately resulted in their intrinsic value, which was zero,” He explained.
Heath went on to say that cryptocurrencies have become a “license for the private sector to print money.” Though the amount of U.S. dollars in circulation has seen a massive increase since January 2020, the market cap of crypto is “over tenfold.”
Heath also argued that Bitcoin’s limited maximum supply of 21 million coins doesn’t really guarantee its “safe haven” qualities since there are other “10,000 cryptocurrencies, related tokens and coins that exist today.”
Many of these cryptocurrencies offer myriad advantages over Bitcoin, too, he said. And as they are created, the entire crypto market adds billions of dollars and additional risk. Though some cryptocurrencies will prevail—just like Apple, Google, and Amazon became the world’s biggest companies following the tech crash—the vast majority of digital assets could still collapse.
“When you have that amount of capital wiped out from digital wallets across the globe, you better believe there is going to be some significant financial repercussions that are felt,” Heath warned.
Who doesn't want its own stablecoin these days? Well, don't count out the Russian war machine. Crypto is once again finding use cases in Russia, as state-owned weapons manufacturer Rostec now plans to launch its own stablecoin, dubbed RUBx, Russian state media reports. The digital token will be backed by rubles and available on Tron. News agency TASS first reported the news, quoting Alexander Nazarov, Rostec's deputy general director, who claimed that the token will be backed one-to-one by ruble...
Here’s some ammo for decentralization advocates: Hackers stole approximately R$800 million ($140 million) from Brazilian banks after paying a technology company employee just R$15,000 ($2,760) for his corporate credentials, according to law enforcement officials investigating what they describe as the largest digital heist in the country's history. The attack targeted C&M Software, a São Paulo-based company that connects smaller banks and fintechs to Brazil's Central Bank infrastructure, includi...
Ondo Finance has taken a major step toward offering tokenized stocks to U.S. investors, throwing itself into a crowded ring of fintech heavyweights, including Robinhood, that aim to capitalize on the recent on-chain equities market boom. The Ethereum decentralized finance platform announced Friday on X its acquisition of Oasis Pro, an SEC-regulated digital assets infrastructure provider that operates as a broker-dealer, alternative trading system, and transfer agent. The deal will allow Ondo Fi...