Crypto Weekly: a new king of the swingers
STORY: This is Crypto Weekly, with your top stories on virtual currencies…
Bitcoin may have lost its buzz.
The dominant cryptocurrency has been stuck at around $20,000 for days.
That’s odd for a token known for wild price swings.
Some think that, right now, traders are more excited about rival ether.
It’s due for a long-hyped “merge”, which will see it switch to a more energy-efficient form of trading.
Sam Bankman-Fried says his moves to bail out struggling cryptocurrency firms had “mixed results”.
The crypto tycoon told Bloomberg he had done rescue deals worth around $1 billion.
He cited the bailout of crypto lender Voyager Digital as one that didn't go well.
And Binance says it will convert users’ holdings of stablecoins into its own token - Binance USD.
The world’s largest crypto exchange says the move will boost liquidity for users.
Such coins are meant to maintain a stable value, often against the dollar.
Some think the Binance move will sap market share from Tether, the world’s largest stablecoin.
