Partner with us

News Explorer — Bitcoin Dives Below $50,000 as Market Suffers Major Downturn

Generated by AI, curated by humans

Aug 5, 10:23 am

Decrypt

Bitcoin Dives Below $50,000 as Market Suffers Major Downturn

The cryptocurrency market experienced a significant downturn in the past 24 hours, resulting in over $1.06 billion in liquidations and impacting nearly 280,000 traders. Bitcoin and Ethereum both saw substantial declines, with Bitcoin dropping 12.5% and Ethereum falling 19.5%. Other altcoins, such as Solana, BNB, Dogecoin, and XRP, also experienced significant losses.

The cryptocurrency market experienced a significant downturn in the past 24 hours, resulting in over $1.06 billion in liquidations and impacting nearly 280,000 traders. Bitcoin and Ethereum both saw substantial declines, with Bitcoin dropping 12.5% and Ethereum falling 19.5%. Other altcoins, such as Solana, BNB, Dogecoin, and XRP, also experienced significant losses.

Latest

Apr 4, 10:35 pm

Decrypt

PayPal and Venmo Add Solana and Chainlink, Joining Bitcoin and Ethereum

PayPal and Venmo users will soon be able to access Solana and Chainlink alongside Bitcoin and Ethereum. PayPal has made... Read Summary

Apr 4, 9:02 pm

Decrypt

Tether May Launch New Stablecoin If US Regulators Push Out USDT, Says CEO

Tether CEO Paolo Ardoino stated that Tether is considering creating a new U.S.-domiciled stablecoin to comply with Ameri... Read Summary

Apr 4, 8:06 pm

Decrypt

GameStop CEO Buys $10.7 Million in GME Stock After Bitcoin Investment Announcement

GameStop CEO Ryan Cohen purchased $10.7 million in GME stock, acquiring 500,000 shares at $21.55 each, now holding 8.4%... Read Summary

Apr 4, 7:00 pm

Decrypt

Circle May Delay IPO, Strategy Aims for 3% Bitcoin Supply, Bakkt Faces Lawsuit Over Revenue Misrepresentation

Circle, a USDC issuer, is considering delaying its IPO due to concerns about its partnership with Coinbase. Meanwhile, M... Read Summary

Apr 4, 6:50 pm

Decrypt

SEC Says Certain Stablecoins Pegged to US Dollar Are Not Securities

The SEC issued guidance stating that certain dollar-pegged stablecoins are not considered securities, as long as they me... Read Summary

Apr 4, 6:51 pm

Decrypt

Coinbase, Bitcoin Mining Stocks Fall to Lowest Prices in Months as Tariffs Rock Markets

Coinbase stock hit a seven-month low due to the U.S. equities market reacting to President Trump's tariff announcements.... Read Summary

Apr 4, 5:53 pm

Decrypt

Market Uncertainty From Tariffs Prompts Investors to Turn to Cryptocurrencies As a Safe-haven Option

Tariffs announced by President Trump have caused market uncertainty, leading investors to consider cryptocurrencies as a... Read Summary

Apr 4, 5:22 pm

Unchained Crypto

Trump Administration's Efforts to Facilitate Crypto Firms' Access to U.S. Bank Accounts Are Ongoing

The Trump administration's focus on granting crypto firms access to U.S. bank accounts has led to regulatory changes by... Read Summary

Apr 4, 4:24 pm

Coindesk

Peer-to-Peer Stablecoin Payments App P2P.me Raises $2 Million

P2P.me, a blockchain-based service, allows users to pay in stablecoins by using a network of middlemen to convert USDC t... Read Summary

Apr 4, 4:42 pm

Coindesk

Ethereum Staking Protocol EigenLayer Set to Introduce Slashing Feature

EigenLayer, a prominent Ethereum startup, faced criticism for lacking the crucial feature of slashing upon its launch la... Read Summary

Apr 4, 4:06 pm

Blockworks

Shrapnel Maker Neon Machine Faces Financial Woes: Report

Neon Machine's Shrapnel is facing financial troubles, with unpaid debts, layoffs, and a significant net loss in 2024. De... Read Summary

Apr 4, 4:20 pm

Decrypt

Crypto-Stealing Malware Is Targeting Bitcoin Code Library Users

Malicious packages named "bitcoinlibdbfix" and "bitcoinlib-dev" posed a threat to users of the bitcoinlib Python library... Read Summary

Apr 4, 4:16 pm

Decrypt

Bitcoin Holds Steady as TradFi Market Turns Bearish

Bitcoin's price fluctuated due to China imposing a 34% import tax on U.S. products, while major altcoins like XRP and So... Read Summary

Apr 4, 2:59 pm

Decrypt

Top Lawmaker Wants to Make Sure SEC Can't Touch XRP, Solana and Other Crypto Assets—Critics Warn of Unintended Consequences

The Securities Clarity Act aims to amend U.S. securities laws to exempt most crypto assets from being classified as secu... Read Summary

Apr 4, 1:24 pm

Coindesk

Malta Hits Crypto Exchange OKX With $1.2 Million Fine

OKX's Europe subsidiary, OKCoin Europe, was fined 1.05 million euros by Malta's financial watchdog for breaching money l... Read Summary