Bitcoin

Another week, another potential victim of contagion. You probably have heard phrases like "GBTC discount widens" or "Is GBTC in trouble?" swirling around.

What's more, a huge number of investors now face long bankruptcy limbo, with funds likely lost following the collapse of FTX.

In a pair of letters, six Democrats called on two investment firms to turn their backs on crypto, saying it is inappropriate for investments.

Cryptocurrencies provide holders with full control over their finances — for better and for worse.

Although BTC had slightly recovered by Wednesday morning — trading at $18,317 — it's still plunged by 73.33% over the past 12 months.

The stash was recovered back in November 2021 — days after the world's biggest cryptocurrency hit a new all-time high — and was worth $3.36 billion at the time.

Ether has a strong track record of outperforming Bitcoin. In 2021, ETH surged by a whopping 399.2% — five times more than BTC's still-impressive rise of 59.8%.

Bitcoin has risen by 4.4% over the past 24 hours at the time of writing. Ether's an even bigger winner — up 6.85% — while Binance Coin has risen 8.5%.

Plus — Binance's CEO gave a news conference at the WebSummit in Lisbon yesterday — and inevitably, talk turned to Elon Musk's Twitter takeover. We're there with the latest.

Also today, does CZ think that central bank digital currencies are going to pose a threat to the crypto space?

Federal Reserve Chairman Jerome Powell warned: "It's very premature, in my view, to think about or to be talking about pausing our rate hikes. We have a ways to go."

The business intelligence firm is vowing not to sell any Bitcoin... but it's buying a lot less than it used to.

But in a reflection of a challenging bear market, MicroStrategy snapped up just 301 BTC in the most recent quarter — a stark contrast to the 9,000 BTC it bought a year ago.

But not only was the BTC purchased using public funds, El Salvador’s president tweeted each time he purchased the cryptocurrency.

The change in momentum has also been welcome news for crypto-related stocks, with Coinbase's share price rallying by 13% on Tuesday.

Also today, crypto personality Layah Heilpern has blocked fellow Bitcoin podcaster Peter McCormack after a row on Twitter.

Judge Helen Engebrigtsen ruled that Hodlonaut, whose real name is Magnus Granath, is not liable for damages as a result of the posts he made on Twitter.

Dr. Wright's lawyer is vowing to appeal, and said: "Anonymous online bullying and harassment risks having a chilling effect on meaningful debate and the civil exchange of views and opinions."