Bitcoin

Bitcoin is the pioneer of blockchains and cryptocurrencies, introduced in a white paper released in 2008 by an apparently pseudonymous person or group of people known as Satoshi Nakamoto. The document described a peer-to-peer method of transferring money without the use of financial institutions. The cryptocurrency known as bitcoin or BTC debuted in 2009. Transactions are recorded on a public ledger (a blockchain) by entities known as miners who engage in process called proof-of-work. Miners are rewarded for doing that by getting newly minted bitcoin. Some proponents view BTC as an alternative to fiat currencies and a hedge against inflation. Bitcoin has inspired the creation of numerous other cryptocurrencies and blockchain projects.

DISCLOSURE: This text was written with the assistance of AI, then reviewed by a person



Markets

First Mover Asia: Here’s What Might Happen to Sino Global’s Liquid Value Fund During FTX’s Bankruptcy Protection Proceedings

Crypto Twitter wanted to know the potential consequences of having Alameda and Sam Bankman-Fried as partners in a fund. So we asked a Hong Kong-based lawyer who specializes in asset tracing and recovery; bitcoin dips but not much.

Sino Global Capital founder Matthew Graham. (CoinDesk TV)

Markets

Crypto Markets Today: Gensler Restates SEC’s Crypto Authority

The chairman said the agency has the basic disclosure and governance requirements to hold digital-asset firms accountable, although he did not address the fallout from crypto exchange FTX’s collapse.

SEC Chair Gary Gensler (Kevin Dietsch/Getty Images)

Videos

Bitcoin Outlook After Slipping Below $17K

ETC Group CEO Bradley Duke discusses his crypto markets analysis and outlook as bitcoin (BTC) slides below $17,000 amid rate hike concerns and the fallout from troubled crypto exchange FTX.

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Markets

Bitcoin’s High Correlation to Copper Does Not Bode Well for Short-Term Investors

Bitcoin now more tightly aligns with the commodity than the S&P 500 or Nasdaq. For long-term accumulators, however, this is likely their season.

Bitcoin is now correlating more closely to copper than the S&P 500. (Toby Christopher/Unsplash)

Policy

ECB Official Says Energy-Intensive Crypto Should Be Banned

Fabio Panetta also said that investors have been caught in a "bubble."

Fabio Panetta talks to European Central Bank President Christine Lagarde. (Thierry Monasse/Getty Images)

Markets

First Mover Americas: Grayscale in Investor's Crosshairs

The latest price moves in crypto markets in context for Dec. 7, 2022.

Grayscale's new ad campaign can be seen in New York's Penn Station. (Nikhilesh De/CoinDesk)

Markets

First Mover Asia: Bitcoin Holds Its $17K Perch Amid Rate Hike Concerns

ALSO: Sam Reynolds writes that Asia is ready for a scaled up, crypto-friendly bank, particularly if the U.S. oversteps in regulating the industry following the recent FTX debacle.

BTC holds its perch at about $19,300, flat over the past 24 hours. (Unsplash)

Markets

Crypto Markets Today: Fir Tree Suit Against Grayscale Adds to Industry’s Growing Woes

The hedge fund wants more details about the Grayscale Bitcoin Trust, which has fallen in value by nearly 75% this year.

Grayscale CEO Michael Sonnenshein (CoinDesk)

Markets

Two Technical Bitcoin Indicators Diverge; Each Has Value Depending on Investors' Timelines

The RSI indicates bitcoin is fairly valued and may be of greatest interest for traders seeking quick gains. The MVRV ratio implies prices are cheap and more pertinent for investors looking longer term.

(Getty Images)

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