Bitcoin Claws Back Above $20K; Stocks Extend Losses to 4th Straight Session

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Today's News

It's been a mixed day for stocks in the US, with some losses but also some gains, as investors try to make sense of recent comments from the Federal Reserve and new data from ADP. Meanwhile, crypto companies are making headlines for a variety of reasons. Crypto.com is being sued for attempting to recover a $10.5 million refund it gave to a woman, while Sam Bankman-Fried is speaking out about the mixed results of his recent bailouts of sputtering crypto firms. And as Bitcoin's price fluctuates, there is debate about whether now is a good time to buy Bitcoin mining stocks.

Outline

Crypto.com refunded a woman's $10.5 million purchase, but now wants the money back
US stocks trade mixed, with investors assessing new Fed comments and the ADP report
Sam Bankman-Fried says his bailouts of sputtering crypto firms were snap judgments, with mixed results
US stocks extend losses to a fourth straight session as the summer rally fizzles to end the month
Goldman Sachs' Marcus has halted aggressive hiring plans as it mulls a sharp pivot in its consumer-banking ambitions
Is now a good time to buy bitcoin mining stocks?
How Fed watchers are interpreting the bitcoin narrative
Is now the time to start investing in speculative altcoins?
Love dividends? Try staking your cryptocurrency
Why VC Jocelyn Cheng, the CEO of Luno Expeditions, believes the next big opportunities for crypto are in Kenya, Nigeria, and other emerging markets
Former MicroStrategy billionaire Michael Saylor sued over alleged tax fraud
InnovationRx: FDA greenlights Omicron boosters; plus: biotech's cash cushion
Three ways how blockchain technology is already changing the lives of thousands of workers in emerging countries
More volatility ahead for bitcoin as Federal Reserve keeps quiet
Ether futures see unusually high liquidations as funding rates point to bearish sentiment
First mover Americas: a bleak month for crypto as bitcoin slides, ether stalls and Solana tanks
Bitcoin miners' profitability may narrow as mining difficulty hits second-biggest increase this year
EU lawmakers vote down green crypto mining study
Market wrap: bitcoin's price rises amid uncertainty
First mover Asia: bitcoin claws back above $20K; Singapore bank head’s speech reflects growing crypto hostility
District of Columbia suing MicroStrategy founder Michael Saylor for tax fraud
Binance froze Russian gun maker's crypto assets, likely at Ukraine’s request
FASB crypto accounting review won’t include NFTs, certain stablecoins: report
The SEC provides more regulatory clarity
Credit Suisse held $31M in ‘digital assets’ for clients last quarter
Paraguay’s president vetoes bill that would regulate crypto mining and trading
As the gun market moves to crypto, deeply private owners reveal more than they may know
Can crypto save the cannabis industry?
We’re in a bull market for off-chain bitcoin

Crypto.com Gave a Woman a $10.5 Million Refund and Now It Wants It Back

What would you do if a company accidentally sent you millions in dollars you never asked for? Well, Australia-based news outlet 7News reported Tuesday that Crypto.com, one of the most high-profile crypto platforms in the world, had made an extremely expensive…

US stocks trade mixed after string of losses as investors assess new Fed comments and ADP report

Cleveland Fed President Loretta Mester says the Fed should raise interest rates above 4% in its fight against inflation.

Sam Bankman-Fried says his bailouts of sputtering crypto firms were snap judgments and the results have been mixed

FTX's Sam Bankman-Fried told Bloomberg the goal in spearheading crypto bailout deals was to backstop companies rather than make a fortune.

US stocks extend losses to 4th straight session as summer rally fizzles to end the month

Stocks have struggled since Fed Chair Jerome Powell delivered his anti-inflation speech at Jackson Hole, driving down "Fed pivot" expectations.

Goldman Sachs' Marcus has halted aggressive hiring plans as it mulls a sharp pivot in its consumer-banking ambitions

David Solomon's pet project has seen the Wall Street bank deploy billions of dollars into the buildout of the Marcus consumer-banking machine. Now, the chief executive faces a difficult decision over whether to retreat from the effort.

Is Now a Good Time to Buy Bitcoin Mining Stocks?

If you believe the price of Bitcoin is headed up, there is a case to be made for investing in cheap Bitcoin mining stocks.

How Fed Watchers Are Interpreting the Bitcoin Narrative

What does it mean for the price of Bitcoin if institutional investors are controlling the narrative?

Is Now the Time to Start Investing in Speculative Altcoins?

Altcoins could lead the market higher, even if Bitcoin is no longer leading the charge.

Love Dividends? Try Staking Your Cryptocurrency

Investors have an alternative option to earn income from their holdings.

Why VC Jocelyn Cheng, the CEO of Luno Expeditions, believes the next big opportunities for crypto are in Kenya, Nigeria, and other emerging markets

Stablecoins and DeFi lending offer practical uses and big opportunities for crypto in emerging markets, Jocelyn Cheng, CEO of Luno Expeditions, said.

Former MicroStrategy Billionaire Michael Saylor Sued Over Alleged Tax Fraud

Saylor, who stepped down as MicroStrategy’s chief executive earlier this month, has seen his net worth tumble recently as bitcoin’s value has crashed.

InnovationRx: FDA Greenlights Omicron Boosters; Plus: Biotech’s Cash Cushion

InnovationRx is your weekly digest of healthcare news. Sign up!

Three Ways How Blockchain Technology Is Already Changing The Lives Of Thousands Of Workers In Emerging Countries

Blockchain technology provides a global network for cheap and fast transfer of digital assets, built on top of the internet. Creating new ways to earn money and allowing people to be part of a global financial system, without needing a bank account. Are we wi…

More Volatility Ahead for Bitcoin as Federal Reserve Keeps Quiet

Bitcoin traders will have to be data-dependent, just like the central bank.

Ether Futures See Unusually High Liquidations as Funding Rates Point to Bearish Sentiment

Ether liquidations were more than double those of bitcoin as trading activity intensified ahead of Ethereum's Merge next month.

First Mover Americas: A Bleak Month for Crypto as Bitcoin Slides, Ether Stalls and Solana Tanks

The latest price moves in bitcoin (BTC) and crypto markets in context for August 31, 2022. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

Bitcoin Miners' Profitability May Narrow as Mining Difficulty Hits Second-Biggest Increase This Year

Bitcoin miners are stepping up production as the weather cools down, so the network automatically adjusted to increase the difficulty of mining a block.

EU Lawmakers Vote Down Green Crypto Mining Study

The Green Party had pushed for the research into mining techniques after failing to impose restrictions on bitcoin-style proof-of-work

Market Wrap: Bitcoin's Price Rises Amid Uncertainty

Prices appear undervalued, but range-bound as well. Market Wrap is CoinDesk’s daily newsletter diving into what happened in today's crypto markets.

First Mover Asia: Bitcoin Claws Back Above $20K; Singapore Bank Head’s Speech Reflects Growing Crypto Hostility

In his speech, Ravi Menon spoke in favor of digital asset innovation but not cryptocurrency speculation. But the Monetary Authority of Singapore’s approach may not be realistic.

District of Columbia Suing MicroStrategy Founder Michael Saylor for Tax Fraud

The Attorney General’s office is also suing the business software company for allegedly helping him evade taxes on his earnings in the district.

Binance Froze Russian Gun Maker's Crypto Assets, Likely at Ukraine’s Request

Vladislav Lobaev, a Russian gun manufacturer, raised $21,000 in crypto for the war in Ukraine before the world’s largest crypto exchange locked down the funds.

FASB Crypto Accounting Review Won’t Include NFTs, Certain Stablecoins: Report

The accounting standards body outlined its criteria for crypto assets that would be covered by a forthcoming rule regarding companies and their digital assets.

The SEC Provides More Regulatory Clarity

Zcash, horizen and stellar might be securities, according to new regulatory filings. We’re starting to get even more clarity about the U.S. Securities and Exchange Commission’s efforts to bring the cryptocurrency sector in line with its existing regulations.