Many first-time investors bought Bitcoin and other cryptocurrencies as they neared all-time highs, and crypto companies spent millions on marketing. Today, they are coping with painful losses.
Cryptocurrencies are money that only exist in the internet. Still, they have to be made by computers somewhere, and the pitch to let that be somewhere close to you can be very persuasive.
Until the middle of last year, most cryptocurrency mining took place in China. Then authorities pulled the plug. So Chinese bitcoin miners began moving their gear to U.S. towns like Kearney, Nebraska.
In a recent interview with NPR, S.E.C. Chairman Gary Gensler says one of his top priorities is protecting amateur investors as his agency unveils a number of tough new rules and investigations.
Washington policymakers will soon start deciding on new rules for cryptocurrencies, setting up a fight between supporters and critics of the $2.5 trillion market.
A hamster named Mr. Goxx enters one of two tunnels in the his cage, which determines whether he will buy or sell. As of Friday, his portfolio is up nearly 20%, according to his Twitter account.
Bitcoin mining has taken a lot of heat for being harmful to the environment since it requires massive amounts of electricity to generate the invisible currency.
Weeks after setting a record high, the price for Bitcoin has fallen dramatically along with other cryptocurrencies over factors ranging from inflation to, yes, Elon Musk.
