News

The average rate on a 30-year mortgage in the U.S. was flat this week ahead of an expected interest rate cut from the Federal Reserve later this month. The rate remained at 6.35% from last week, mortgage buyer Freddie Mac said Thursday. A year ago, it averaged 6.52%, Freddie Mac said.

Ethereum has hit its lowest price in 2024 after sinking nearly 8% over a 24-hour period, according to CoinGecko. The second-biggest coin dipped Friday to $2,193—a level not seen since last year. Over the past week, the asset has fallen by 13%—worse than most of the biggest coins and tokens. The price of Bitcoin also fell precipitously to $52,690, recovering somewhat to $53,516 after dropping 5% in the past day. The asset has also struggled as investors fast cash out of the newly-approved spot Bi...

New data from the cryptocurrency derivatives market suggests a growing bearish sentiment among traders, with options activity indicating expectations of further price declines for major digital assets like Bitcoin (BTC) and Ethereum (ETH).  A new report from crypto exchange Bybit, developed in collaboration with analytics and research platform Block Scholes, highlights a marked increase in implied volatility levels across various expiration dates for both Bitcoin and Ethereum options.  This surg...

Investment firm VanEck announced Friday that it will close and liquidate its Ethereum futures ETF (EFUT), a decision that comes against a backdrop of significant outflows from spot Ethereum ETFs just weeks after they began trading in the United States. This move reflects broader challenges facing the Ethereum ETF market, which has collectively seen a cumulative net outflow of $562.3 million, according to data from SoSo Value. There’s been only one day of positive flows since September 15, with o...

Former Ripple Labs CEO Chris Larsen has formally backed Kamala Harris ahead of the 2024 presidential race, as part of a coalition of business executives endorsing the vice president. The co-founder joined 88 other executives, including 21st Century Fox CEO James Murdoch and Snap chairman Michael Lynton, in the joint letter, reported by CNBC. Larsen co-founded Ripple in 2012 under the name OpenCoin, and stepped down as Ripple CEO in December 2016, retaining the role of executive chairman. He was...

Spot Ethereum ETFs have gotten off to a rocky start, but drawing direct comparisons to Bitcoin’s much-hyped Wall Street debut isn’t all helpful, according to JP Morgan analysts. After launching July 23, nine investment vehicles for crypto’s second largest coin weathered $476 million in cumulative net outflows through August. Meanwhile, the asset’s price dropped 30% from around $3,400 to $2,400, crashing to its lowest price since February. Compared to January’s launch of spot Bitcoin ETFs, the di...

Roaring Kitty is back after a two-month Twitter hiatus, with the meme stock influencer’s return causing the price GameStop (GME) to spike in value. But the post from the notorious meme stock influencer implies that he’s no longer interested in pet supplies retailer Chewy, causing its price to briefly plunge as a result. After two months of silence, Roaring Kitty—aka Keith Gill—has returned with a meme referencing Pixar’s “Toy Story 2,” when the character Andy drops his toy cowboy Woody, saying “...