By CCN Markets: The Dow and broader U.S. stock market limped into Friday’s close after disappointing financial results from a leading chipmaker highlighted the dangers of a prolonged trade war with China. Dow Pares Losses; Nasdaq Endures Tech Blowback All of Wall Street’s major indexes struggled out of the gate Friday, reflecting a weak pre-market for Dow futures. The Dow Jones Industrial Average was down 118 points before rebounding later in the day. By the end of trading, it was down 17.16 points, or 0.1%, to 26,089.61. The broad S&P 500 Index of large-cap stocks declined 0.2% to 2,886.98. Information
Clams? Poloniex Socializes 1,800 Bitcoin (BTC) Margin Loan Loss
Circle’s cryptocurrency exchange subsidiary, Poloniex, revealed on Thursday that a sudden crash in the Clams (CLAM) market, an obscure altcoin, has resulted in roughly 1,800 BTC (~$ 14.4 million) in margin loans to default. On May 26, a sudden, severe price crash in the CLAM market caused a number of margin loans to default, resulting in […]
SludgeFeed
Markets Update: Crypto Prices Show Strong Recovery After Binance Loss
Cryptocurrency markets are doing much better the day after the digital asset exchange Binance lost roughly 7,000 BTC ($ 40 million). Immediately after the trading platform officially announced the multi-million dollar loss, the cryptoconomy shed billions but since then most digital assets have recovered and markets are doing surprisingly well.
Also read: $ 500K of BCH Shuffled in Record-Breaking Cashshuffle Transaction
Bitcoin History Part 11: The First Major Loss of Coins
Since the very start, people have lost bitcoins due to human error. Mislaid wallets, forgotten passwords, broken hard drives, hacks, and scams have conspired to remove over 20% of all BTC from circulation by some estimates. The dubious accolade for the first major bitcoin loss goes to forum member Stone Man, who, on August 10, 2010, managed to permanently erase his access to almost 9,000 BTC.
Saudi Arabia Hedges Majority of 4.9% Stake in Tesla as Wall Street Expects Musk to Forecast a Q1 2019 Loss
Saudi Arabia has reportedly slashed its exposure to Tesla. Part of the SEC’s complaint against Tesla and Elon Musk last year was related to Musk’s claims that Saudi Arabia was backing him in taking the company private. The SEC fined Tesla and Musk separately for $ 20 million each in the debacle. According to the Financial Times, the Saudi Public Investment Fund made a move on January 17th to hedge its investments against expected damage to TSLA stock. They retain their 4.9% holdings in TSLA, but they will not actually lose any money if things go south for TSLA. The arrangement
There May Be (Some) Tax Relief Options if You Sold Your Bitcoin at a Loss
For investors whose first time investing in bitcoin was in 2018 or after late 2017, there is a high likelihood that they have incurred substantial losses for the fiscal year of 2018 if they haven’t sold yet. On December 17, 2017, bitcoin hit an all-time high at over $ 19,000. Thereafter, it has fallen over 80 percent and now hovers at around $ 4,000 at the time of writing. While losing money is never the end goal, there are certain measures investors can take in order to minimize their taxable income by utilizing their capital losses incurred from bitcoin during the current year and going forward.
Down 36%: Bitcoin Price Faces Worst Weekly Loss Since April 2013
With bitcoin prices dropping further early on Sunday, the cryptocurrency now looks to be heading for its worst weekly loss in over 5 years.
CoinDesk
Bitcoin Price May Report Yearly Loss on Its 10th Birthday
With bitcoin trading sideways around $ 6,400 for the 10th day, the cryptocurrency faces reporting a yearly loss for its 10th birthday on Wednesday.
CoinDesk
Lack of Transparency to Blame for Tether’s Loss of USD Peg: Novogratz
Five days since losing its U.S. dollar peg, fiat-backed cryptocurrency tether (USDT) continues to trade at a discount to its supposed $ 1.00 valuation. Defenders have largely chalked up the markdown to FUD, arguing that supporters of other “stablecoins” are launching a coordinated assault on tether, which has long dominated this market niche. However, billionaire investor
The post Lack of Transparency to Blame for Tether’s Loss of USD Peg: Novogratz appeared first on CCN
Massive Loss For Bitcoin, Will The Price Hold?
Today has been a bleak day for Bitcoin. The price looked like it was holding steady at the $ 6,500 mark but now it has dropped 5% which has dragged everything else down with it, including Ethereum, XRP, Cardano, Stellar and more.
In only 30 minutes, $ 13 billion disappeared. According to CoinMarketCap, data shows that the sudden slide for Bitcoin / USD took the pair down over $ 400 in just a half an hour window which seemed to start at around 11 pm on October 10th.
Bitcoin Scam Results In A €31 Million Loss
One of the leading countries in the world, famous for the finest wines and cheeses, home of the Eiffel Tower, la France, has been in the news recently but not for the right reasons. The country hasn’t made a stance on where it’s at with cryptocurrency but some of its citizens have been victims of a recent Bitcoin scam according to a recent news report.
Around 700 citizens of France have fallen victim to a recent Bitcoin scam which has resulted in a loss of around €31 million.
Continue reading Bitcoin Scam Results In A €31 Million Loss at Crypto Daily™.
Another Loss For XRP In The Markets
With the crypto markets being inactive for the past few days, it’s no surprise that they hit back with the old rinse and repeat cycle which has become all too common recently. This has left Stellar, Etherum and XRP are miss with the markets heading into a slump.
The latest ‘sell-off’ has resulted in the markets falling back to a total capitalisation of $ 215 billion and remaining in their sideways channel.
After a 2% drop, Bitcoin is worth $ 6,480 at the time of writing.
Continue reading Another Loss For XRP In The Markets at Crypto Daily™.
Ripple Drops 2% Loss Despite Major XRP Announcement, Bitcoin Shows Low Volume
Since late September, the low volume of Bitcoin has been an issue for the cryptocurrency exchange market. Although BTC was expected to break out of major resistance levels at $ 6,800 and $ 7,000, its low volume prevented it from recording a major movement on the upside. Earlier today, on October 2, Ripple Labs introduced three partnerships … Continued
The post Ripple Drops 2% Loss Despite Major XRP Announcement, Bitcoin Shows Low Volume appeared first on CCN
Steve Hanke: Central Banks Fuel Wealth Loss and Inflation – The World Needs Less of Them
Respected economist Professor Steve Hanke has chanted down central banks. While Hanke doesn’t tout cryptocurrency as an alternative, he does say that the world needs fewer central banks because these government-controlled entities are messing up economies and abusing monetary policy, while fueling inflation and loss of wealth.
Also read: Ex-Liberia Central Bank Chief Under Probe For Missing $ 104M, State Seeks FBI Help
Central Banks Have Crashed Economies Through Reckless Money Printing
Central banks have come under fire for aiding struggling economies to crash through reckless money creation, thereby fueling inflation. Prominent economist and currency expert Steve Hanke, who played a key role in establishing new currency in Argentina, Estonia, Bulgaria and Ecuador, says the world needs fewer state banks to prevent economic and cash crises.
Okex Socializes Loss From Over $400 Million Bet Among BTC Futures Traders
Anyone getting involved with leveraged trading must assume upon themselves the risks associated with the potentially highly rewarding practice. A recent event should remind traders that, sometimes, even when the trade goes your way, you can still take a hit. Okex socialized one trader’s massive loss on BTC futures with a clawback.
Also Read: The Weekly: China Hires Cryptographer, McDonald’s Unveils Maccoin, Bitmain Gets Richer
Forced Liquidation
Okex, the Chinese-run cryptocurrency exchange based in Hong Kong, has announced on Friday that “an enormous long position” in BTC0928 futures contract was force-liquidated on July 31, 2018. And due to the sheer size of the order, worth over $ 400 million, the uncovered loss (about $ 9 million) will need to be socialized with a clawback.
Ethereum Price: USD Uptrend is Negated by BTC Ratio Loss
Yesterday was a very interesting day for all cryptocurrency markets. Bitcoin and altcoins gained a lot of value in quick succession. As is always the case, maintaining this form of momentum will be pretty challenging. For the Ethereum price, maintaining the $ 500 value level is very challenging, as there is a genuine battle going on between bulls and bears.
Ethereum Price Struggles for Stability
Short-term changes in the cryptocurrency world always pose a new set of problems. Albeit all cryptocurrency markets enjoy a positive spell right now, it seems highly unlikely that trend can be sustained for very long No strong gain will go unpunished, especially in this particular industry. For Ethereum price speculators, the bearish pressure is already intensifying as of right now.