Bitcoin price

2022 - 5 - 12

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Image courtesy of "CNN"

Bitcoin price: Panic in the crypto market has Janet Yellen's attention ... (CNN)

Investors in stocks, bonds and commodities are all on edge right now. But in the market for cryptocurrencies, unease has morphed into full-on panic, ...

"A stablecoin known as TerraUSD experienced a run and had declined in value," Yellen said when she testified before the Senate earlier this week. Investors were unnerved that the inflation reading was worse than predicted. "Quite simply, we believe Disney+ is one of a kind." Why it matters: This may seem very in the weeds. TerraUSD first wavered and broke its peg to the US dollar last weekend. Tether was last below 99 cents to the dollar, dragging down bitcoin, too. The price of bitcoin fell as low as $26,350. , the central bank said there's little clarity on what really backs stablecoins, and noted that a few big players dominate a market with little oversight. Disney blamed "higher programming and production, marketing and technology costs." "The implications are just so large. Traditional stablecoins like Tether have become the bedrock of the crypto market, since they're theoretically fully backed by hard assets. Given the market's notorious swings, their use among crypto companies, exchanges and traders has shot up.

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Image courtesy of "The Verge"

Coinbase experiencing major outage as crypto prices plummet (The Verge)

A leading cryptocurrency exchange, Coinbase, has been hit hard by a recent drop in the price of Bitcoin and other cryptocurrencies, making the recent outage ...

The company reported a steep drop in revenue earlier this week, and its stock has shed more than half its value over the course of a week. The downtime comes amid a widespread crash in cryptocurrency prices, adding particular urgency to trades and withdrawals. Weโ€™re seeing recovery after implementing a fix, but our teams are continuing to monitor the situation.

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