Welcome to Crypto Insider, Business Insider's roundup of all the bitcoin and cryptocurrency news you need to know today. Sign up here to get this email delivered direct to your inbox.
Almost every major cryptocurrency, bitcoin included, is getting smoked this morning as "fear, uncertainty, and doubt" grip the market.
Here's the scoreboard as of Friday morning:
- Bitcoin (BTC): $13,130 (-16%)
- Ethereum (ETH): $644 (-19%)
- Bitcoin Cash (BCC): $2,270 (-26%)
- Ripple (XRP): $0.91 (-19%)
- Litecoin (LTC): $319 (5%)
What's happening:
- Two factions of bitcoin investors - the newcomers and the old holders - are now at war with each other.
- Bitcoin speculators are "getting burned" and taking companies that recently pivoted to blockchain down with them.
- Goldman Sachs is reportedly building a cryptocurrency trading desk.
- A US regulator is warning investors about cryptocurrency "pump-and-dump" schemes
- The equity chief at Charles Schwab says a bitcoin crash won't infect the rest of the market.
- On the other hand, an economic historian at the University of Cambridge told Business Insider that cryptocurrencies could trigger the next financial crisis if they become a systemic risk to the financial system.
- A biotech company that pivoted to blockchain is looking for a CTO and a background in cryptocurrency is a "big plus."
- Finally, a partner at one of the top bitcoin trading firms told us why crypto is "such an amazingly fun space to be in."
EXCLUSIVE FREE REPORT:The Bitcoin 101 Report by the BI Intelligence Research Team.
Get the Report Now »