Cryptocurrency exchange Binance’s in-house BNB tokens have shot to a $40 billion valuation, ranking them third among digital assets behind bitcoin and Ethereum’s ether.
Also: Did the CFTC “pop” the 2017 bitcoin bubble?
It used to be Wall Street dictated the big stories around finance. It’s unclear whether that’s still the case.
Following a tweet from “WSB Chairman” inquiring about the meme cryptocurrency, dogecoin prices went haywire.
Bitcoin would likely extend losses further if Fed Chairman Jerome Powell drops hints of a gradual unwinding of stimulus programs later today.
Risks surrounding the stablecoin tether (USDT) have been known for years, but they’re commanding fresh attention as the amount outstanding swells to $25B.
Far from being damaging to bitcoin, bubbles help bring in new users and ultimately accelerate the project’s growth.