Meta, formerly branded as Facebook, announced this week it sold its assets and intellectual property to crypto bank Silvergate Capital. The bank paid $182 million for the project, according to a press release. It’s been a rocky week for Bitcoin https://www.cnbc.com/2022/05/12/bitcoin-btc-price-falls-below-27000-as-crypto-sell-off-intensifies.html and other cryptocurrencies, largely driven by ongoing macroeconomic uncertainty. Bitcoin, the largest crypto, dipped below $36,000 Saturday and continued to nosedive throughout the weekend, hitting its lowest point in over a year Monday.
Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system. Investors are fleeing from cryptocurrencies at a time when stock markets have plunged from the highs of the coronavirus pandemic on fears over soaring prices and a deteriorating economic outlook. U.S. inflation data out Wednesday showed prices for goods and services jumping 8.3% in April, higher than expected by analysts and close to the highest level in 40 years. Warren Buffett-backed Nubank, one of the world’s largest digital banking platforms, has launched cryptocurrency trading. Bitcoin Breaches Support
Alternative clients exist, such as Bitcoin XT, Bitcoin https://lenincoin.com/ Unlimited, and Parity Bitcoin. Crypto.com said Thursday that cybercriminals had breached its security systems earlier in the week and made off with more than $30 million in stolen bitcoin and ethereum. Solana prices have plunged lately, causing the digital currency to trade down more than 80% from its all-time high. Bitcoin prices have climbed over the last few years, rallying after the digital currency dropped to a recent low. Bitwise Asset Management CIO Matt Hougan argued that markets are experiencing a macro-driven risk repricing of all risk assets, including bitcoin, which introduces “significant volatility” in the short-term. But Castillo makes sure people know about the cutting-edge technology being used behind the scenes.
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