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News & Articles By Kevin Hughes
07/07/2022
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By Kevin Hughes
Crypto broker Voyager Digital suspends customer trading, deposits, withdrawals and loyalty rewards
Digital asset brokerage Voyager Digital announced in a statement issued Friday, July 1, that it has suspended all customer trading, deposits, withdrawals and loyalty rewards. Voyager’s move follows that of well-known crypto staking and lending platform Celsius, which likewise halted all withdrawals, swaps and transfers between accounts due to “extreme market conditions” on June 13. Celsius has […]
06/20/2022
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By Kevin Hughes
Elon Musk hit with $258 billion lawsuit over alleged dogecoin cryptocurrency pyramid scheme
Businessman Elon Musk was hit with a $258 billion lawsuit that claims the tech tycoon and his well-known companies are involved in a dogecoin cryptocurrency pyramid scheme. In federal court papers filed in Lower Manhattan in New York, complainant Keith Johnson named Musk along with his electric car company Tesla and his space tourism corporation SpaceX in […]
06/16/2022
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By Kevin Hughes
Frenzied hedge fund selling erupts right before Fed raises interest rates
Hedge funds tracked by Goldman Sachs Group Inc. offloaded U.S. equities for a seventh straight day Monday, June 13, as the equity rout worsened amid concerns that the Federal Reserve will need to rush its inflation-fighting campaign at the risk of causing an economic recession. Those concerns were not unfounded as the Federal Reserve on Wednesday, June […]
06/10/2022
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By Kevin Hughes
World’s largest NFT marketplace OpenSea finds itself in the middle of thefts and lawsuits
OpenSea is an eBay-like site where people can look around for millions of nonfungible tokens or NFTs, purchase the images and put their own up for sale. In the past 18 months, OpenSea has become the leading and the largest NFT marketplace in the world. One of the foremost crypto start-up companies, it has produced […]
05/20/2022
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By Kevin Hughes
Domino effect: TerraUSD collapse sends Bitcoin, Ethereum crashing
A recent market meltdown in the broader crypto market has cryptocurrencies like Bitcoin and Ethereum suffering huge losses. The massive meltdown was caused by the collapse of TerraUSD, one of the world’s biggest stablecoins. TerraUSD traded for as low as 23 cents amid panic selling and triggered a meltdown that sent cryptocurrency values plummeting. (Related: “Stablecoins” Terra and Luna crater, […]
03/02/2022
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By Kevin Hughes
Ontario government shuts down 39 trucking companies for participating in Freedom Convoy
The Ontario Ministry of Transportation has closed 39 independent trucking companies for their participation in the Freedom Convoy protest against Wuhan coronavirus (COVID-19) restrictions. In another round of anti-protest sanctions, the ministry affirmed that 12 trucking companies in Ontario and 27 outside the province have been slapped with seizure orders canceling their authority to carry out […]
01/03/2022
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By Kevin Hughes
Bank of Mexico to launch digital currency by 2024
The Bank of Mexico plans to establish its own digital currency in circulation by 2024 to adopt the latest payments technology and incite financial formation in an economy that relies mostly on cash transactions. Mexico’s central bank under the administration of President Andres Manuel Lopez Obrador tweeted on Dec. 30 that it is important “to use these […]
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