A weekly look at the most important moves and news in crypto and what's on the horizon in digital assets.
Happy Thursday! Welcome to Distributed Ledger, our weekly crypto newsletter. I’m Frances Yue, crypto reporter at MarketWatch, and I’ll walk you through the latest and greatest in digital assets this week so far, as December gets into fuller swing. Find me on Twitter at @FrancesYue_ to send feedback or chat about crypto.Crypto in a snap Bitcoin BTCUSD tumbled this week amid omicron, the coronavirus variant first identified in the southern parts of Africa and has now been detected in the U.S.
“Your local bank branch, whether it’s a credit union or a large conglomerate bank, will very likely be offering some sort of crypto investment product,” according to McCauley. Such offerings will be driven by increasing retail demand, McCauley said. “Broadly, the way that we think about Web 3.0 now is that it’s going to be this kind of infinite game, where an infinite amount of advancement in technology happens across a broad range of different industries, and we’re just seeing the very beginning of that,” McCauley said.
Over the next month or so, omicron’s influence on global investors’ risk appetites and the governments’ reactions will likely have the greatest impact on bitcoin price, according to Erlam. “If we see that omicron is vaccine-resistant, it’s far more violent and it’s far more transmissible, then I think we’re gonna see significant risk aversion in the markets.” In that scenario, bitcoin’s price “could be hit quite hard,” Erlam said.
Similar trends play out in physical assets too, as shares of gold miners GDX tend to see amplified moves, compared against underlying spot gold or gold futures GC00. Crypto executives to testify before Congress On Dec. 8, CEOs of several major cryptocurrency companies will testify before the House Financial Services Committee starting at 10 a.m. ET, MarketWatch’s Chris Matthews reports.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Twitter's new 37-year-old CEO went from Twitter engineer to CEO in just 10 yearsParag Agrawal, who has been Twitter's CTO since 2017, will take over as CEO immediately after Jack Dorsey's surprise resignation on Monday.
Read more »
Michigan teen charged with 1st-degree murder, held without bond in shooting spreeA Michigan teenager was ordered held without bond on Wednesday after being charged with first-degree murder in the deadliest U.S. school shooting of the year, which killed four students and wounded seven other people.
Read more »
COVID-19 live updates: 1st omicron case in US identified in CaliforniaAs the COVID-19 pandemic has swept the globe, more than 5.2 million people have died from the disease worldwide, including over 780,000 Americans.
Read more »
Kroger CEO Rodney McMullen says new cooking skills, bigger holiday gatherings are lifting grocery salesKroger shares jumped 11% Thursday, after the company's strong sales numbers indicated that stay-at-home food trends are sticking.
Read more »
Goldman Sachs CEO says tax hikes could be New York City's downfallGoldman Sachs CEO warns taxes could be NYC's downfall, saying urban centers aren't guaranteed a 'permanent place in the world'
Read more »
Car Rental Rates ‘Will Start To Level Out’ Soon, Predicts Insuremyrentalcar.com CEOAfter two pandemic surges in the United States — and a third one now gathering steam — the auto rental industry is sputtering back to life. Ernesto Suarez, CEO of Halo Insurance Services, which operates the site Insuremyrentalcar.com, predicts when rates will level off.
Read more »