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Crypto recovery stalls as miners halt Chinese operations due to scrutiny

SINGAPORE (Reuters) - Cryptocurrencies fought to find a footing on Monday after even weekend cheerleading from Tesla boss Elon Musk seemed unable offset selling pressure from spooked investors or nerves stemming from a gathering crackdown on the asset class in China. Musk had lent a bid on Saturday by tweeting support for crypto in "the true battle" with fiat currencies. But on Sunday prices slumped as "miners," who mint crypto by verifying transactions, halted Chinese operations in the face...
Kyle Rodda James Quinn Elon Musk Sam Holmes Tom Westbrook State Council

Bitcoin crashes back to earth after roller-coaster ride: A bust or a buy?

By Tommy Wilkes, Sujata Rao and Gertrude Chavez-Dreyfuss NEW YORK/LONDON (Reuters) -Cryptocurrencies that seemed to be defying gravity just weeks ago came back down to earth with a bump on Wednesday after a roller-coaster ride which could undermine their potential as mainstream investments. The two main digital currencies, bitcoin and ether, fell as much as 30% and 45% respectively, but significantly pared losses after two of their biggest backers - Tesla Inc chief Elon Musk and Ark Invests ...
New York United States Great Hill Elaine Hardcastle Gavin Smith Medha Singh

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