Major cryptocurrencies suffered double-digit declines as volatility extended into the weekend.
At Consensus 2021, investors pondered whether the sell-offs signal the end of this bull cycle.
They also shared how bitcoin can live up to Hal Finney s historic $10 million price prediction.
It was the kind of volatility that keeps investors eyes glued to the screen.
As last week s wild fluctuations extended into the weekend, none of the major cryptocurrencies was spared from double-digit declines. Bitcoin and ether tumbled as low as $31,384 and $1,758 on Sunday before rebounding to around $39,000 and $2,600, respectively, as of 4:30 p.m. ET on Monday.
The most recent pullback was said to have stemmed from an official statement summarizing Chinese vice-premier Liu He s comments at a state council meeting on May 21. The meeting, which was focused on preventing financial risks, mentioned specifically the need to combat mining and trading of bitcoin, according to the Chinese govern
Blockchain.com
Peter Smith is the CEO and cofounder of the Baillie Gifford-backed crypto startup Blockchain.com.
Smith shared how, in 10 years, he built the firm from nothing to a business valued at $5 billion.
He also laid out the four crypto trends and assets on his radar these days.
The crypto market is tumbling. But Peter Smith, the chief executive and cofounder of Blockchain.com, is hodling. Ten years in crypto and I still haven t figured out how to sell, Smith said in an interview. I ve never been more convicted that bitcoin and crypto generally are where I should be spending all my time.
Wells Fargo Investment Institute
Darrell Cronk is the president of Wells Fargo Investment Institute, an investment-research division.
He told Insider his team is in the final stages of adding a crypto strategy for wealthy clients.
He explained why they changed their minds on crypto and the key merits and risks of the asset.
Major cryptocurrencies are down in the doldrums after Elon Musk, Tesla s chief executive, fired off a whirlwind of tweets over the weekend.
But not all is doom and gloom for the crypto market as Wells Fargo Investment Institute has emerged as the latest institutional heavyweight to recognize cryptocurrencies as an investable asset.
Binance This story is available exclusively to Insider subscribers. Become an Insider and start reading now.
Changpeng Zhao is the founder of Binance, the world s largest crypto exchange by trading volume.
In an interview, Zhao recounts how he built Binance in 180 days and continues to grow its divisions.
He also breaks down why he s keeping most of his personal assets in Bitcoin and Binance Coin.
To Changpeng Zhao, home has always been less about a physical address and more of an inner world that transcends geographical boundaries.
Growing up in China, Zhao had a somewhat nomadic upbringing as he followed his educator parents who moved in between cities every few years. When he was 12, the family immigrated to Canada where he stayed for another decade before moving to Tokyo, New York, and then Shanghai for work.
THORChain (RUNE). DeFi is probably the best sector in terms of value drivers, he said. All of these are growing entities where the token is either bootstrapping and helping facilitate that growth or directly capturing the revenue through some sort of a pass-through mechanism.
Even before the Covid-19 pandemic, Dorman and his team noticed the desire for fans to stay engaged from home. While the internet and social media have made it possible for fans to connect with their idols, blockchain has enabled that fanship to be valued.
For example
Another company Chiliz (CHZ) has created a platform where they issue tokens on behalf of soccer clubs in Europe.