The 58% plunge in the biggest cryptocurrency is the largest since the third quarter of 2011, when Bitcoin was still in its infancy, data compiled by Bloomberg show. The decade in between those hallmarks featured several booms and busts, with the market value of all tokens swelling to a peak of $3 trillion last November as they gained more widespread adoption and ultra-low interest rates spurred risk taking.
Prices were tumbling again on Thursday, with the world’s largest token by market value sliding more than 6% to breach $19,000 for the second time in a fortnight. More volatile altcoins did worse, with Avalanche and Polygon each falling more than 10%. While perhaps not directly correlated to falling prices, the mood around Bitcoin was worsened by the Securities and Exchange Commission’s
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Business Maverick: Biggest forex retreat since ’97 ruts Asia central banks in bindPolicymakers grappling with the fastest inflation in decades now face stark choices: forcefully raise borrowing costs to defend currencies and risk hurting growth, spend reserves that took years to build to intervene in foreign exchange markets, or simply let the market run its course.
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Business Maverick: Crypto crash threatens North Korea’s stolen funds as it ramps up weapons testsAlthough cryptocurrencies are estimated to be only a small portion of North Korea's finances, Eric Penton-Voak, a coordinator of the United Nations panel of experts that monitors sanctions, said at an event in April in Washington, DC, that cyberattacks have become “absolutely fundamental” to Pyongyang's ability to evade sanctions and raise money for its nuclear and missile programmes. relax dont piss your pants , crypto's go up again eventually. Walk there greedy and see arse first !
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Business Maverick: Sony takes a leap into PC gaming gear with new Inzone brandThe Tokyo-based company wants to show consumers that it’s making products and games that go beyond the scope of its console ecosystem and has been taking steps to grow its gaming empire to mobile and PC arenas. Dumb name
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Business Maverick: Tesla lays off about 200 Autopilot workersTesla is trimming its ranks after a surge in hiring in recent years. Just last week, Elon Musk had outlined plans to cut 10% of salaried staff but he said he’d be increasing hourly jobs. But most of those let go were hourly workers. Ever since elonmusk decided to buy Twitter, he's been portrayed as an Evil racist Capitalist, trying to exploit workers. Beware of leftwing woke media houses, setting this narrative. elonmusk is a brilliant mind, and will not be undermined by the worlds leftwing, woke media ! Lol Autopilot already crashes all the time. Can't wait for the cars to get even worse than they are
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