On Monday, cryptocurrency prices hit new lows as a result of regulatory worries and a general investor reluctance to invest in risky assets due to impending interest rate increases. By market value, Bitcoin, the most valuable cryptocurrency, dropped about 5 per cent to a three-month low of $18,387. The second-largest cryptocurrency, Ether, fell 3 per…
Nio, a Chinese manufacturer of electric vehicles, joined other automakers in claiming that U.S. restrictions on Nvidia chip sales to China won’t have an impact on the automaker’s operations. In an effort to lower the possibility that these products would be used by the Chinese military, Nvidia revealed last week that the United States would…
Following a decline in stock markets around the world and the continued strength of the US dollar, Bitcoin traded below $19,000 on Wednesday morning, reaching its lowest level since June. Due to a sell-off in all digital coins, the market value for all cryptocurrencies also decreased below $1 trillion. According to Coin Metrics, Bitcoin was…
The new lineup of iPhone 14 models and Apple Watches that Apple Inc. is expected to introduce on Wednesday will test how willing consumers are to upgrade technology in the face of inflation and economic doom. At an event dubbed “Far Out” at its Cupertino, California, headquarters, analysts anticipate Apple to reveal that the most…
Bitcoin has often been labelled as the king of the swingers because of its high volatility and very sudden extreme swings in its value. However, the largest and arguably the most volatile cryptocurrency of the world has been trading for days at around $20,000 and has not gone much higher than that since June. This is bad news…
The foundation that controls Ethereum, the second largest cryptocurrency, has confirmed that it will complete a plan to reduce its carbon emissions by more than 99% in the next month. The “merge” project will see Ethereum switch the underlying technology it uses to validate crypto transactions to a new process that requires less energy to…
Chinese technology behemoths are coming off their worst quarter of growth in history, as the world’s second-largest economy slows, exacerbated by Beijing’s strict Covid policy. Alibaba reported its first ever flat year-on-year quarterly revenue growth in the second quarter of the year, while social media and gaming company Tencent reported its first sales decline on…
The owner of Facebook and Instagram saw a drop in advertising sales in the three months to July, resulting in the company’s first year-on-year revenue reduction. Meta’s total revenue fell 1% to $28.8 billion (£23.7 billion), although the company avoided a drop in users. Analysts believe the company’s growth has peaked following years of significant…
On Tuesday, EU lawmakers approved unprecedented regulations to curb the dominance of digital titans such as Alphabet unit Google, Amazon, Apple, Facebook, and Microsoft, but enforcing them may be difficult due to regulators’ limited resources. Along with the Digital Markets Act (DMA) provisions, lawmakers also approved the Digital Services Act (DSA), which requires Internet companies…
Bitcoin temporarily dipped below $19,000 on Thursday, as the world’s largest digital currency remains under pressure from macroeconomic concerns and a liquidity crisis among high-profile cryptocurrency firms. According to CoinDesk data, Bitcoin was trading at $19,143.50 at 6:10 a.m. ET, down 4 per cent from the previous day. The digital currency is down over 58…
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