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Bloomberg: Cryptocurrencies edge up again as stock market sell-off intensifies

Bloomberg: Cryptocurrencies edge up again as stock market sell-off intensifies

CointimeCointime2024/08/08 05:03
By:Cointime

According to Bloomberg, major cryptocurrencies rose slightly on Thursday, after Ripple Labs Inc. was fined $125 million - a result the company sees as a victory against the U.S. Securities and Exchange Commission (SEC).Bitcoin rose as much as 4.5%, exceeding $57,600, while Ethereum, the second-largest token by market value, rose nearly 5% at one point. However, both tokens are still well below their levels a week ago.Meanwhile, the sell-off in global stock markets intensified, reflecting concerns about economic prospects and tensions in the Middle East, as well as fears that heavy investment in artificial intelligence may not bring the expected returns.

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