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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
First Mover Asia: Bitcoin at 16-Month Low as UST Collapse Shows Risks of 'Algo' Stablecoins
A number of algorithm-based stablecoins have already failed; bitcoin and other cryptos see deep red.
Market Wrap: Cryptos Extend Losses as LUNA Plunges
Bitcoin declined by as much as 6% over the past 24 hours, as LUNA dropped 96% and SOL fell 30%.
Nubank, Brazil’s Largest Digital Bank, Launches Bitcoin and Ether Trading
The trading and custody service is being provided by blockchain infrastructure company Paxos.
FASB to Review Accounting Rules for Digital Assets Held on Balance Sheets: Report
A clearer framework for how companies might account for crypto could pave the way greater institutional adoption.
Inflation Rose to 8.3% in April, With Monthly Core CPI Doubling From March
Bitcoin dropped sharply after the release.
First Mover Asia: Crypto Market Decline Underlines Its Unpredictability; Bitcoin Holds at $31K
Most signs have pointed downward, but predicting price trends in the days and weeks ahead is difficult; major cryptos have a mixed day.
UST’s Bitcoin Reserve Too Late in Coming to Save Dollar Peg
Luna Foundation Guard buying billions of dollars in bitcoin without an infrastructure ready to deploy left Terra’s UST vulnerable to a “Soros-style attack,” an analyst said.
