The Dispatch

UPDATED: Crypto industry fears contagion as bitcoin slips under $20,000

LONDON/HONG KONG, June 20 (Reuters) - The cryptocurrency industry was on edge on Monday as bitcoin struggled to stay above a key level, with investors fearing that problems at major crypto players could unleash a wider market shakeout.…

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UPDATED: Bitcoin drops below $20,000 to lowest since December 2020

June 18 (Reuters) - Bitcoin dropped below $20,000 on Saturday to its lowest level in 18 months, extending its slide as investors pull back from riskier assets amid rising interest rates. The…

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UPDATED: Bitcoin falls to fresh 18-month low as crypto meltdown deepens

LONDON, June 15 (Reuters) - Bitcoin tumbled on Wednesday to a new 18-month low, dragging smaller tokens down with it and deepening a market meltdown sparked by crypto lender Celsius this week…

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Bitcoin drops 6.9% to below $30,000

June 1 (Reuters) - Bitcoin, the world's biggest and best-known cryptocurrency, dropped 6.9% to $29,555.35 at 22:03 GMT on Wednesday, losing $2,262.81 from its previous closing price. It was down 38.9% from…

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Small players lose faith in crypto after sell-off

Nofe Isah, a 25-year old based in Nigeria, has been investing in crypto since January. Last week, she lost all of her $5,000 in savings as cryptocurrency luna went into…

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Bitcoin back below $30,000; European regulators renew crypto warnings

HONG KONG, May 16 (Reuters) - Cryptocurrencies resumed their slide on Monday, giving up the gains they had eked out over the weekend, as regulators continued to circle. European officials reiterated warnings…

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FTX chief says Bitcoin has no future as a payments network- FT

May 16 (Reuters) - Cryptocurrency exchange FTX's founder has said that bitcoin has no future as a payments network and criticized the digital currency for its inefficiency and high environmental costs, the…

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UPDATED: Crypto meltdown deepens as stablecoin Tether drops below dollar peg

HONG KONG / LONDON, May 12 (Reuters) - The meltdown in TerraUSD, one of the world's largest stablecoins, sent shockwaves through cryptocurrency markets on Thursday, pushing another stablecoin Tether below its dollar…

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UPDATED: Bitcoin falls to lowest in 16 mths, giving up 2021 gains

HONG KONG, May 12 (Reuters) - Bitcoin fell to its lowest in 16 months on Thursday, leading a rush out of risk assets such as tech stocks, while the collapse of TerraUSD, a…

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Swiss National Bank opposed to holding bitcoin as a reserve currency

ZURICH, (Reuters) - The Swiss National Bank is against buying and holding bitcoin as a reserve currency, Chairman Thomas Jordan said at the central bank's annual general meeting this week. "Buying bitcoin…

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European crypto industry steps up efforts to influence EU policy

More than 40 crypto business leaders have asked the European Union not to require crypto firms to disclose transaction details and dial down attempts to bring to heel rapidly growing decentralised finance…

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U.S. imposes sanctions on Russian darknet market and crypto exchange

The U.S. Treasury Department imposed sanctions on a prominent Russia-based darknet market site and a cryptocurrency exchange that it said operates primarily out of Moscow and St. Petersburg. The sanctions…

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Cryptoverse: Bitcoin runs into Russian rules and regiments

Bristling tensions and looming laws in Europe could offer clues to two questions: Can bitcoin be a safe-haven asset? And can Russia emerge as a crypto superpower? The answer to…

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U.S. Justice Department solves its biggest-ever cryptocurrency theft

WASHINGTON/NEW YORK (Reuters) - The U.S. Justice Department said it has unraveled its biggest-ever cryptocurrency theft, seizing a record-shattering $3.6 billion in bitcoin tied to the 2016 hack of digital…

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Tesla’s bitcoin holdings worth nearly $2 bln – filing

Feb 7 (Reuters) - Tesla Inc said on Monday the fair market value of the electric-vehicle maker's bitcoin holdings as of Dec. 31 was $1.99 billion. In its annual filing…

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UPDATED: Bitcoin tumbles to six-month low as Ukraine conflict fears shake markets

LONDON, Jan 24 (Reuters) - Bitcoin tumbled almost 9% on Monday to its lowest in six months as fears of a Russian attack on Ukraine saw riskier assets worldwide extend…

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Bitcoin falls again, last down 4%

Bitcoin dropped again on Saturday and was last down around 4% for the day, hovering around the $35,000 level. Bitcoin, the world's biggest and best-known cryptocurrency, is now about half…

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Bitcoin network power slumps as Kazakhstan crackdown hits crypto miners

The global computing power of the bitcoin network has dropped sharply as the shutdown this week of Kazakhstan's internet during a deadly uprising hit the country's fast-growing cryptocurrency mining industry.…

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Bitcoin slumps to lowest since September

LONDON, Jan 7 (Reuters) - Bitcoin on Friday slumped as much as 5% to its lowest since late September, tumbling under $41,000 amid a broader sell-off for cryptocurrencies. Bitcoin was…

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Goldman Sachs says bitcoin will compete with gold as “store of value”

LONDON, Jan 5 (Reuters) - Bitcoin will take market share away from gold in 2022 as digital assets become more widely adopted, Goldman Sachs analyst Zach Pandl said in a…

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Stablecoins steal the limelight from subdued bitcoin

Dec 13 (Reuters) - As bitcoin, the world's largest cryptocurrency, struggles to recover after a massive crash, regulatory and private sector focus has turned to another part of the digital…

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Blue Monday? Bitcoin tumbles 5% after weekend battering

HONG KONG, Dec 6 - Bitcoin tumbled almost 5% on Monday as the start of the week offered little respite to the world's largest cryptocurrency after a bruising weekend where…

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Bitcoin below $50,000, at early October levels, after weekend’s battering

HONG KONG, Dec 6 - Bitcoin hovered around $49,000 on Monday, down 1.5% on the day, as traders nursed losses after a brutal weekend in which the price of the…

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Bitcoin falls by a fifth, cryptos see $1 bln worth liquidated

Bitcoin shed a fifth of its value on Saturday as a combination of profit-taking and macro-economic concerns triggered nearly a billion dollars worth of selling across cryptocurrencies. Bitcoin was 12%…

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Bitcoin extends downtrend, falls 12.1% to $47,176

Bitcoin dived 12.14% to $47,176.09 on Saturday, losing $6,567.6 from its previous close. Bitcoin, the world's biggest and best-known cryptocurrency, is down 31.6% from the year's high of $69,000 reached…

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Bitcoin tumbles as coronavirus variant sees riskier assets dumped

LONDON, Nov 26 (Reuters) - Bitcoin tumbled almost 8% on Friday after the discovery of a new, potentially vaccine-resistant coronavirus variant saw investors dump riskier assets for the perceived safety…

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El Salvador plans first ‘Bitcoin City’, backed by bitcoin bonds

El Salvador plans to build the world's first "Bitcoin City", funded initially by bitcoin-backed bonds, President Nayib Bukele said in the weekend, doubling down on his bet to harness the…

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Bitcoin heads for worst week in months as Mt Gox payouts loom

SYDNEY, Nov 19 (Reuters) - Bitcoin fell to a one-month low on Friday and was headed for its worst week in six months as traders have booked profits from a…

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Bitcoin, ether nurse losses, lurk near critical levels

HONG KONG/SINGAPORE, Nov 17 (Reuters) - Bitcoin and ether, the world's two largest cryptocurrencies, stayed weak on Wednesday and near critical levels that analysts believe could spell further weakness if…

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Crypto assets are helping illegal activity, BoE’s Bailey says

Bank of England Governor Andrew Bailey said that the rise of crypto assets was helping illegal activity. "I'm afraid that the advent of digital means of payment, and in particular…

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New York Mayor-elect Adams says he will take his first three paychecks in bitcoin

New York Mayor-elect Eric Adams said he would take his first three paychecks in bitcoin and signaled his intention to make his city the "center of the cryptocurrency industry" after…

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Bitcoin edges off all-time high but momentum for more gains this year seen intact

HONG KONG, Oct 21 (Reuters) - Bitcoin fell slightly in Asian hours on Thursday, a day after marking an all-time high on optimism around the launch of the first U.S.…

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Bitcoin sits below all-time high after U.S. ETF debut

Bitcoin hovered below record levels on Wednesday, the day after the first U.S. bitcoin futures-based exchange-traded fund (ETF) began trading, a development that market participants say is likely to drive…

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U.S. becomes largest bitcoin mining centre following China ban

The United States has overtaken China to account for the largest share of the world's bitcoin mining, data published by the UK's Cambridge Centre for Alternative Finance showed. Chinese authorities…

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JPMorgan’s Dimon blasts bitcoin as ‘worthless’, due for regulation

Jamie Dimon, JPMorgan Chase & Co chief executive, said on Monday at a conference that cryptocurrencies will be regulated by governments and that he personally thinks bitcoin is "worthless." "No matter what…

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Bitcoin jumps 9% to touch 12-day high

LONDON, Oct 1 (Reuters) - Bitcoin extended gains on Friday, climbing over 9% in late morning trade to $47,800, its highest level in 12 days. The largest cryptocurrency was last…

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China’s top regulators ban crypto trading and mining, sending bitcoin tumbling

SHANGHAI/LONDON, Sept 24 (Reuters) - China's most powerful regulators on Friday intensified the country's crackdown on cryptocurrencies with a blanket ban on all crypto transactions and mining, hitting bitcoin and…

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El Salvador buys 150 more bitcoins, president says

El Salvador has bought 150 more bitcoins, President Nayib Bukele announced, taking the Central American country's holdings of the volatile cryptocurrency to 700 coins. "We just bought dip," Bukele tweeted…

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A glimpse under the hood of El Salvador’s bitcoin experiment

El Salvador on Tuesday rolled out cryptocurrency bitcoin as legal tender, an unprecedented move that faced some technical hiccups on its first day and left many wondering how it will…

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Bitcoin bruised after chaotic debut as legal tender in El Salvador

Bitcoin licked its wounds on Wednesday, a day after its heaviest losses in 2-1/2 months as El Salvador's historic adoption of the crypto asset as legal tender caused chaos online…

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El Salvador’s world-first adoption of bitcoin endures bumpy first day

El Salvador's historic adoption of bitcoin as legal tender on Tuesday was beset by teething problems, as an angry protest by mistrustful citizens, technological glitches and a dip in the…

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El Salvador leads world in adopting bitcoin as official currency

El Salvador on Tuesday became the first country to adopt bitcoin as legal tender, a real-world experiment proponents say will lower commission costs for billions of dollars sent from abroad but which…

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Bitcoin rises back above $50,000

Bitcoin rose 0.49% to $50,188.4 at 1004 GMT on Sunday, adding $245.24 to its previous close. The world's biggest and best-known cryptocurrency is up 81% from this year's low of…

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Bitcoin price rises past $50,000 as rebound continues

Bitcoin's price surged past $50,000 on Monday for the first time since May, continuing its rebound from a months-long slump. The world's largest cryptocurrency rose to $50,341 , as investors…

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Bitcoin rises 7.07% to $47,587.38

Bitcoin surged 7.07% to $47,587.38 at 2200 GMT on Friday, adding $3,142.93 to its previous close. Bitcoin, the world's biggest and best-known cryptocurrency, is up 71.6% from the year's low…

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Bitcoin rises above $40,000

Bitcoin broke above $40,000 on Wednesday and headed for another attempt at breaking from its months long range as short sellers bailed out and traders drew confidence from recent positive…

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Bitcoin leaps 12% to test recent peaks, ether hits 3-week high

Cryptocurrencies popped to the top of recent ranges on Monday as short sellers bailed out in the wake of a strong week and while traders hoped a handful of positive…

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Tesla will ‘most likely’ restart accepting bitcoin as payments, says Musk

Electric-car maker Tesla Inc will most likely restart accepting bitcoin as payments once it conducts due diligence on the amount of renewable energy used to mine the currency, Chief Executive…

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EU plans to make Bitcoin transfers more traceable

Proposed changes to EU law would force companies that transfer Bitcoin or other crypto-assets to collect details on the recipient and sender. The proposals would make crypto-assets more traceable, the…

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Bitcoin climbs back over $30,000

Bitcoin recovered from a one-month low and broke back above $30,000 on Wednesday, suggesting firm support around that level even as the mood in broader financial markets remained fragile. Bitcoin…

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Bitcoin to become legal tender in El Salvador on September 7

El Salvador's President Nayib Bukele said in a national address that a recently passed law making bitcoin legal tender will take effect on Sept. 7, noting that its use will…

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World Bank rejects El Salvador request for help on bitcoin implementation

The World Bank said it could not assist El Salvador's bitcoin implementation given environmental and transparency drawbacks. "We are committed to helping El Salvador in numerous ways including for currency…

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Bitcoin jumps after Musk says Tesla could use it again

Bitcoin hit a two-week peak just shy of $40,000 on Monday, after another weekend reacting to tweets from Tesla boss Elon Musk, who fended off criticism over his market influence…

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IMF sees legal, economic issues with El Salvador’s bitcoin move

The International Monetary Fund said it has economic and legal concerns regarding the move by El Salvador to make bitcoin a parallel legal tender, further clouding the outlook for an…

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El Salvador president says will discuss bitcoin law with IMF

El Salvador's President Nayib Bukele will discuss the country's new bitcoin law and other issues in a meeting with the International Monetary Fund (IMF) on Thursday, he said in an…

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UPDATED: El Salvador approves law allowing bitcoin as legal tender

El Salvador has become the first country in the world to formally adopt bitcoin as legal tender after Congress approved President Nayib Bukele's proposal to embrace the cryptocurrency. With 62…

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Bitcoin is a “farce”- Amundi CIO

Cryptocurrencies such as bitcoin are a "farce" and a symptom of bubbles forming in financial markets, Amundi chief investment officer Pascal Blanque said. Bitcoin, trading at around $39,364, fell 35%…

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