Ex-Coinbase manager charged in crypto insider trading case
A former product manager at Coinbase Global, Ishan Wahi, and two others were charged Thursday in Manhattan with wire fraud in the first insider trading case involving cryptocurrency.
First on FOX: Trading cards, collectibles powerhouse 'Upper Deck' announces new venture at San Diego Comic-Con
Upper Deck’s President Jason Masherah first shared news of the revolutionary expansion - which moves to bridge NFTs and tangible collectibles - with FOX Business in a Digital exclusive ahead of San Diego Comic-Con Preview Night.
FBI warns against fake crypto apps defrauding US investors of tens of millions of dollars
Head of Republic Crypto Andrew Durgee weighed in on the warning from the Federal Bureau of Investigation that cryptocurrency investors have been defrauded of tens of millions of dollars.
Bitcoin bounce-back could take longer than you think
Bitcoin has been sliding since May, dipping below it's 200-week moving average. Financial specialists believe it will take up to a year for the cryptocurrency to recover.
District judge calls out SEC for hypocrisy in Ripple lawsuit
The judge's accusation comes as she rules against the SEC's motion in it's case against Ripple Labs. Questions have arisen over a 2018 speech by William Hinman.
Cryptocurrency lender Celsius Network files for bankruptcy as prices crash
The cryptocurrency lender Celsius said it will begin bankruptcy proceedings in Manhattan federal court as the prices of Bitcoin and other cryptocurrencies have taken a nosedive.
Crypto issues 'not just idiosyncratic' to the space, industry expert argues
Ava Labs President John Wu weighs in on recent market volatility, arguing that he believes the idiosyncratic crypto issues have "played mostly out."
SEC shunning Bitcoin opportunity with spot ETF denial: Grayscale CEO
Grayscale Investments has filed a petition for review after the Securities and Exchange Commission denied its application to turn the Grayscale Bitcoin Trust into a spot Bitcoin ETF.
Crypto crashes show need for tougher rules: Bank of England
The Bank of England is warning about the cryptocurrency meltdown that's taken place this year, and the need for tougher financial regulations on the industry.
Miami's economy 'on fire' despite other major cities' financial slide
Miami Mayor Francis Suarez says his focus on improving citizens' quality of life has resulted in low crime and an economic surge in the Florida city.
US officials unable to measure 'hiring freeze' impact, but confident current openings can limit damage
The end of the pandemic-era tech boom and proliferation of historic inflation have forced the world's biggest companies to think hard about their next moves.
FTX strikes deal with option to buy crypto lender BlockFi
Cryptocurrency exchange FTX has struck a deal that gives it an option to buy troubled crypto lender BlockFi Inc. for as much as $240 million.
FBI adds ‘Cryptoqueen’ to Ten Most Wanted list
The FBI has added Ruja Ignatova, a Bulgarian woman nicknamed the "Cryptoqueen," to its Ten Most Wanted Fugitives list for her alleged fraudulent cryptocurrency operation.
Grayscale bid for spot Bitcoin ETF rejected by SEC
Grayscale investments has filed for a petition for review, arguing that the Securities and Exchange Commission is "acting arbitrarily and capriciously."
Crypto regulation 'important step' for industry 'maturation': Expert
Adam Dell, the founder and CEO of Domain Money, revealed on Tuesday what he described as an "important step" to cryptocurrency regulation as the industry remains unregulated.
NY bitcoin mining ban ‘stifling’ crypto investments: CEO
White Rock Management CEO Andy Long argues New York passing a ban on bitcoin mining opens the door to "more and more regulation," stifling market investments.
FTX eyes Robinhood acquisition: report
Robinhood is an acquisition target, according to a report. A possible deal comes after FTX CEO Samuel Bankman-Fried took a 7.6% stake in Robinhood in May.
Goldman downgrades Coinbase, upgrades Robinhood amid crypto volatility
Though Goldman Sachs is skeptical of both cryptocurrency exchanges, its analysts believe Robinhood offers a "more balanced risk reward."
Crypto exchange FTX in talks to acquire stake in BlockFi
Crypto billionaire Sam Bankman -Fried and his FTX exchange is in talks to acquire a stake in crypto lender BlockFi.
Former GOP lawmaker urges Congress to pass regulations for crypto industry to flourish: US needs to lead
Former Republican Sen. Cory Gardner argued Friday when cryptocurrency flourishes, the American people do too, during an interview on "Mornings with Maria."
Cryptocurrency FAQs
What is Cryptocurrency?
Cryptocurrency, or crypto, is a form of digital asset that is secured by cryptography and the blockchain. The most notable example of a cryptocurrency is bitcoin, though thousands of other similar assets exist. Cryptocurrencies are regarded by many as the money tech of the future due to their accessibility and un-censorable nature.
How do cryptocurrencies work?
Cryptocurrency networks, or blockchains, are independently verified by a matrix of computers that record all transactions and ensure a consensus throughout the chain. This means that all network information is recorded immutably and permanently; transactions cannot be prevented, blocked, or changed. Network participants can thus trust each other and transact without the need for a centralized intermediary.
How can I buy a cryptocurrency?
There are many markets for cryptocurrencies where you can exchange USD for the cryptocurrency of your choice. These include centralized exchanges and services such as Coinbase and PayPal, or decentralized alternatives like UniSwap where you can swap between crypto-assets. To use a centralized exchange, you’ll need to submit personal information such as your passport or driver's license. Note that the price of digital assets can change rapidly, so timing your purchases well is essential.
Where can I keep my crypto coins?
Cryptocurrencies can usually be held with the exchange or business you bought them from. However, as these exchanges can be hacked, it is advisable to move your assets to your own personal wallet. These wallets are more secure and can be accessed from your laptop, phone, or other mobile devices.
What can I buy with crypto?
Real work adoption of crypto is still ongoing. However, more businesses are accepting crypto and you can buy goods and services as diverse as real estate, stocks, travel, gambling, websites, and much more. This trend should continue over time as cryptocurrencies become better known, accepted and trusted.
Pros and cons of investing in a cryptocurrency
You may have read the news that crypto has broken all-time highs recently. This is the main advantage, that we are early in the asset’s history and prices have generally gone rapidly upwards. However, you should be aware that volatility is significant and you can similarly lose money quickly if your timing is poor. Security is also a major issue and you must ensure you secure your crypto and transactions well or you could become a victim of theft or fraud.