Crypto Firms Take Over Davos High Street Even After Stock Market Crash

DAVOS, Switzerland — Crypto-related tech companies are out in force at the annual World Economic Forum in Davos, even after a recent stock market crash wiped billions of dollars of value from the digital currency market. The Promenade, a main strip where corporations and governments take over shops and bars during forum week, is dominated … Read more

ECB chief Christine Lagarde says crypto is ‘worthless’

The European Central Bank is considering whether to issue its own digital alternative to cash. Olivier Matthys | AFP | Getty Images European Central Bank President Christine Lagarde thinks cryptocurrencies aren’t worth a penny. “My very humble assessment is that it’s worth nothing,” Lagarde said of the crypto in an interview with Dutch talk show … Read more

Tether (USDT) Stable Coin Withdrawals Surpass $10 Billion

Tether says its dollar-pegged token is “fully backed.” Justin Tallis | AFP | Getty Images Investors have ripped off over $10 billion in the past two weeks amid heightened regulatory scrutiny of stablecoins. Tether, the world’s largest stablecoin, saw its circulating supply plummet from a record $84.2 billion on May 11 to around $73.3 billion … Read more