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Trend’s Foreign money Give and Take

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Trend’s Foreign money Give and Take

Multitaskers in chief?

That simply is perhaps a greater title for vogue’s chief govt and chief monetary officers, who’re navigating a world that isn’t simply difficult, however in fixed movement.

Extra from WWD

Depend the most recent twist — foreign money adjustments which have put the euro and the greenback on a fair footing for the primary time in 20 years — as one other X issue for an trade already coping with a pandemic, the specter of recession, inflation, the struggle in Ukraine and extra.

“Loads of that is as a result of Fed,” stated Erik Lundh, principal

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Link, dot and XRP lead another altcoin rally as investors opt for cheaper coins with smart-contract capabilities | Currency News | Financial and Business News

crypto coins circle

Nurphoto

Chainlink’s link climbed 18% to reach a high of $36.35, the highest since May 19.

XRP, dot and litecoin also posted gains.

Investors have been piling into altcoins because they are cheap and have smart contract capabilities.

Link, bitcoin cash, XRP, dogecoin, dot and litecoin soared to new multi-month highs on Monday as investors opted for cheaper alternatives to bitcoin whose networks can support decentralized finance applications and smart contracts, analysts said.

A smart contract is a piece of code that allows people to enter into financial agreements without the need for

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A father and son who help clients find forgotten crypto passwords estimate billions of dollars worth of lost bitcoin is recoverable | Currency News | Financial and Business News

Charlie and Chris Brooks run Crypto Asset Recovery, a small business in New Hampshire.

Crypto Asset Recovery

A father and son team of computer programmers help people find lost passwords to their crypto wallets.

Chris and Charlie Brooks conducted an analysis that led them to estimate between 68,110 and 92,855 seemingly lost bitcoins are recoverable.

At current prices, the high end of the recoverable bitcoin estimate amounts to $4.7 billion.

See more stories on Insider’s business page.

For Chris and Charlie Brooks, finding lost passwords to cryptocurrency wallets requires figuring out how their clients’

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Facebook’s crypto chief is exploring NFT-related products and features – but views bitcoin as too volatile for transactions | Currency News | Financial and Business News

David Marcus, head of Facebook’s Novi digital wallet.

Bill Clark/CQ Roll Call

Facebook’s crypto boss said the company is looking at building NFT-related features.
“We’re in a really good position to do so,” David Marcus told Bloomberg on Tuesday.
Marcus said that bitcoin isn’t good for transactions because of its price volatility.
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Facebook’s crypto chief is looking at building products and features related to non-fungible tokens, but has doubts about using bitcoin for transactions.

“We’re definitely looking at a number of ways to get involved in the space because we think

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Bitcoin has surged to a record $60,000 as stimulus hopes and big-name backers fuel demand | Currency News | Financial and Business News

The surge marked a 1,000{4096c6f39d44714c45f5b36755bfd7eaecf49ae82832f8cdb01e260e21826c23} gain in the past year.

Spencer Platt / Getty Images

Bitcoin hit a record $60,000 on Saturday, marking a 1,000{4096c6f39d44714c45f5b36755bfd7eaecf49ae82832f8cdb01e260e21826c23} gain in the past year.
The cryptocurrency has benefited from institutional support and fiscal stimulus.
Mark Cuban and Kevin O’Leary are fans, Warren Buffett and Michael Burry aren’t.
See more stories on Insider’s business page.

Bitcoin surged as high as $60,000 for the first time on Saturday, lifting its price increase over the past year to more than 1,000{4096c6f39d44714c45f5b36755bfd7eaecf49ae82832f8cdb01e260e21826c23}.

The cryptocurrency, which boasts a market capitalization of more than $1.1 trillion, has been buoyed

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Meet the company mining bitcoin using the flare gas from oil drilling – and drawing investment from Coinbase and the Winklevii | Currency News | Financial and Business News

One of Crusoe Energy’s flare-mitigation centres in Montana.

Crusoe Energy

Crusoe Energy captures the energy from flare gas at oil patches and uses it to “mine” bitcoin.

The company is now one of the US’s biggest miners and has attracted investment from Coinbase.

The crypto world is increasingly focused on the climate, particularly after Elon Musk’s criticisms.

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Hunter Lowe, a 27-year-old electrician from Tennessee, was working for around $10 an hour in his home state and supporting

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Don’t be surprised if ether takes over bitcoin as the dominant digital store of value, Goldman Sachs says | Currency News | Financial and Business News

Mastercard and BNY Mellon warmed to bitcoin on Thursday, supporting XRP, ether and other cryptocurrencies

Yuriko Nakao/Getty Images

Ether could overtake bitcoin as the dominant digital store of value in the coming years, Goldman Sachs said in a Tuesday note.
Ether “looks like the cryptocurrency with the highest real use potential,” Goldman argued.
“This competition among cryptocurrencies is another risk factor that prevents them from becoming safehaven assets,” Goldman said.
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Ether’s real use cases give it the potential to become the dominant digital store of value

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Institutions are not buying the dip in bitcoin, and it’s fair value could be as low as $23,000, JPMorgan says | Currency News | Financial and Business News

Lucas Jackson/Reuters

Institutions are not buying the dip in bitcoin, according to a Wednesday note from JPMorgan.
The bank said the fair value of bitcoin over the medium-term could range from $23,000-$35,000.
Headwinds still exist for bitcoin, including the end of a six-month lock up period for nearly $4 billion worth of the Grayscale Bitcoin Trust.
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The recent decline in bitcoin may take time to recover as institutions fail to step in and buy the dip, according to a Wednesday note from JPMorgan.

The bank sees

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The father of El Salvador’s Bitcoin Beach received an anonymous donation of a cryptocurrency fortune – now the local economy runs on it | Currency News | Financial and Business News

Jose Cabezas/Reuters

Jose Cabezas/Reuters

Michael Peterson became the so-called Father of Bitcoin Beach, Bloomberg Businessweek reported.

Thanks to an anonymous donation, Peterson helped El Zonte widely adopt the currency.

Lawmakers in El Salvador have since voted to adopt the cryptocurrency as legal tender.

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47-year-old Michael Peterson fell in love with El Zonte, a Pacific-coast beach in El Salvador, 17 years ago when he visited for a surfing trip.

The town grew on him, and he and his family started splitting their time between

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Two South African brothers have vanished with $3.6 billion of bitcoin in what could be the biggest crypto heist in history | Currency News | Financial and Business News

Nicolas Economou/NurPhoto via Getty Images

Two South African brothers recently vanished with $3.6 billion worth of bitcoin in what could potentially be the biggest cryptocurrency heist in history.

Local media, including Independent Online and ITWeb, were the first to report on the case.

In 2019, Ameer Cajee and his younger brother, Raees Cajee, founded crypto investment app Africrypt.

Not long after, the siblings, along with 69,000 bitcoins worth roughly $4 billion at their April peak, are nowhere to be found.

It all began in April when Ameer, who is the company’s chief operating

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Bitcoin vs. Ethereum: 10 experts told us which asset they’d rather hold, and why | Currency News | Financial and Business News

Bitcoin vs. Ethereum

Getty Images AsiaPac

Bitcoin has long been the dominant cryptocurrency, but recently Ethereum’s native token, ether, has emerged as more than just a clear number two.

In 2021, ether has made gains on bitcoin in terms of market cap, and investors are taking note.

While the two cryptocurrencies are very different in terms of their architecture and use cases, both are top options for cryptocurrency investors long-term.

With that in mind, Insider decided to reach out to the experts to see which cryptocurrency they believe offers the most upside over the long haul.

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Bitcoin tumbles as low as $30,000 amid a broad crypto sell-off after China signals a crackdown | Currency News | Financial and Business News

Jaap Arriens/NurPhoto via Getty Images

Bitcoin and other major digital assets sank on Wednesday after China warned investors against cryptocurrencies.
Virtual currencies can’t be used to conduct business as they don’t have real value, China’s central bank said.
A price drop below $30,000 for bitcoin wouldn’t be surprising, a senior market analyst said.
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Bitcoin and other digital currencies plunged on Wednesday after the People’s Bank of China announced digital tokens can’t be used as a form of payment by financial institutions.

Bitcoin fell as much as

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Fundstrat’s Tom Lee explains why he’s doubling down on bitcoin after Elon Musk’s surprising reversal – and increasing his price target to $125,000 | Currency News | Financial and Business News

Photo by Cindy Ord/Getty Images for Yahoo

Fundstrat’s Tom Lee is confident that bitcoin bulls won’t change their tune on the cryptocurrency following Elon Musk’s abrupt reversal.

Lee upgraded his bitcoin price target from $100,000 to $125,000 by year-end.

He said it is possible Musk had to consider investors’ ESG concerns over bitcoin.

See more stories on Insider’s business page.

Fundstrat Global Advisors managing partner Tom Lee is confident that bitcoin will continue to rally in the wake of Elon Musk’s abrupt reversal Wednesday on allowing Tesla to accept the

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Bitcoin falls 7{41490b4d0cf0dbc5ec3f65e11fff509c7d6ed2a53a838ebf7adf43f0908f07f3} after China reportedly bans banks from cryptocurrency business | Currency News | Financial and Business News

Cesc Maymo/Getty Images

Bitcoin’s recovery from Monday’s sell-off lost steam on Tuesday after Reuters reported that China banned financial companies from the cryptocurrency business.
A statement from China regulators said virtual currencies “are not supported by real value,” the report said.
China has not restricted individuals from holding cryptocurrencies, but did warn about their speculative nature.
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Bitcoin fell as much as 7{41490b4d0cf0dbc5ec3f65e11fff509c7d6ed2a53a838ebf7adf43f0908f07f3} from its intraday high on Tuesday after a Reuters report said China is banning financial institutions and payment companies from the cryptocurrency business.

Three

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Korean billionaire Kim Jung-ju’s gaming provider bets $100 million on bitcoin in Tokyo’s largest-ever cryptocurrency purchase | Currency News | Financial and Business News

Jakub Porzycki/NurPhoto via Getty Images

Tokyo-based Nexon said on Wednesday the company bought $100 million worth of bitcoin, becoming one of a growing number of publicly-listed companies that owns the cryptocurrency.

The video-game provider, founded by Korean billionaire Kim Jung-ju, said it bought 1,717 bitcoins at an average price of $58,226 per coin, including fees and expenses.

The transaction represents 2{41490b4d0cf0dbc5ec3f65e11fff509c7d6ed2a53a838ebf7adf43f0908f07f3} of Nexon’s total cash and cash equivalents as of December 2020, the company said.

Jung-ju’s net worth stands at about $11 billion, according to Bloomberg. His gaming business’ bitcoin bet marks the largest-ever cryptocurrency purchase by a Tokyo-listed

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