Hello! Welcome back to Distributed Ledger, our weekly crypto newsletter that reaches your inbox every Thursday. I’m Frances Yue, crypto reporter at MarketWatch. It has been what some called a “very dark” week for crypto, with stablecoin TerraUSD, once the 10th largest cryptocurrency, losing its peg, while bitcoin has fallen to its lowest level since … Read more
Natural-gas prices in Europe shot higher Thursday, a day after Russia unveiled a set of sanctions on energy companies operating on the continent that could further threaten supply. Among the companies sanctioned by Moscow were former subsidiaries of Russian state gas giant Gazprom PJSC in the European Union and the Polish owner of a key … Read more
Bitcoin plunged and the world’s largest stablecoin, tether, briefly edged down from its $ 1 peg, adding to fears of more turbulence in the cryptocurrency market. Cryptocurrencies have been hit by two forces this week. On the one hand, concerns that inflation will necessitate aggressive central-bank tightening have sapped the desire to hold assets perceived … Read more
WASHINGTON — Federal regulators are investigating Elon Musk’s late disclosure last month of his sizable stake on Twitter Inc., TWTR -2.48% according to people familiar with the matter, a lag that allowed him to buy more stock without alerting other shareholders to his ownership. The Securities and Exchange Commission is probing Mr. Musk’s tardy submission … Read more
WASHINGTON — Federal regulators are investigating Elon Musk’s late disclosure last month of his sizable stake on Twitter Inc., TWTR -2.48% according to people familiar with the matter, a lag that allowed him to buy more stock without alerting other shareholders to his ownership. The Securities and Exchange Commission is probing Mr. Musk’s tardy submission … Read more
Ukraine reduced flows of Russian natural gas through its territory to Europe, sending prices higher amid the continent’s still-precarious reliance on Russian fossil fuels. Within hours, though, enough gas was moving through an alternative route that prices fell back down again, ending essentially flat on the day. The continued flow suggested some gas had been … Read more
The biggest cryptocurrency exchange in the US said it was bleeding users, reflecting continued destruction in the crypto market and investors’ unease about risky assets. Coinbase Global Inc. COIN -12.60% said Tuesday that it lost hundreds of millions of dollars in the first quarter, sending the stock tumbling in after-hours trading. Following the after-market report, … Read more
US stocks swung between gains and losses on Tuesday as uncertainty over inflation, interest rates and the economy continued to weigh on the market. All three major indexes opened higher, with the technology-heavy Nasdaq Composite up 2.8% at one point. By late morning, stocks had mostly erased those gains and appeared on track to extend … Read more
The 2022 pullback in US stocks intensified last week, with stocks on Thursday staging their largest single-day decline since the onset of the pandemic. The plunge came just a day after Federal Reserve Chairman Jerome Powell appeared to clear the way for a stock rally by casting interest-rate increases greater than a half-percentage point as … Read more
US stocks fell sharply, led by technology and other growth stocks, as investors assessed the implications of the Federal Reserve’s most aggressive tightening of monetary policy in more than two decades. The S&P 500 dropped 4.1% as losses accelerated in midday Thursday. The tech-focused Nasdaq Composite Index fell 5.3%, and the Dow Jones Industrial Average … Read more