The combination of mounting recession fears, bets on a more cautious Fed and a regular uptick in market volatility could spell more losses.Marketsread more
The therapy, Zolgensma, is a one-time treatment for spinal muscular atrophy — a muscle-wasting disease and leading genetic cause of infant mortality, affecting 1 in every...Biotech and Pharmaceuticalsread more
SpaceX has raised just over $1 billion in financing since the beginning of the year.Investing in Spaceread more
Stocks were headed for weekly losses on Friday as investors worry the U.S.-China trade war is hurting economic growth.US Marketsread more
An analyst for Ark Invest, which has a major investment in Tesla, says recent drastic price-target cuts by others on Wall Street are missing the big picture.Investingread more
Former Foreign Minister Boris Johnson is seen as the bookmaker's favorite to succeed outgoing Prime Minister Theresa May.Europe Politicsread more
United Airlines will take its 14 Boeing 737 Max jets off its schedule for another month, through Aug. 3, canceling another 1,290 flights.Airlinesread more
Roughly three dozen House Democrats have called for impeachment hearings on President Donald Trump, a billionaire's TV ads rip the House for "doing nothing," and legal experts...Politicsread more
J.P. Morgan economists say they now see a much slower economy in the second quarter, with growth of just 1%.Market Insiderread more
If consummated, the deal would mark the latest in a flurry of activity in the payment technology space.Banksread more
The Pentagon will send additional American troops, drones and fighter jets to the Middle East amid increasing tensions between the United States and Iran.Politicsread more
For all the excitement around digital currency technology in New York this week, venture capitalist Fred Wilson said it will probably take much longer for bitcoin to go mainstream.
"I've been trying to transact with bitcoin and a lot of cryptocurrencies for a long time. It's not that rewarding to do, honestly," Wilson, managing partner at Union Square Ventures, said Thursday at the Token Summit.
"It will probably be a long time before people understand what a blockchain currency is," he said.
Hundreds of developers, start-up founders and digital currency investors packed a New York University lecture hall for the all-day conference, which focused on how bitcoin's underlying blockchain technology and digital currencies, or tokens, could change the way business operates.
"I do think some digital currency will end up being the reserve currency of the world. I see a path where that's going to happen," Brian Armstrong, CEO of the Coinbase exchange for buying and selling digital currencies, said at the conference.
Coinbase said Thursday it suffered outages due to "unprecedented traffic and trading," according to Reuters.
The week was a big one for bitcoin, especially in the financial center of New York. The Token Summit followed a two-and-a-half-day digital currency conference called Consensus, both held in Manhattan.
Bitcoin prices climbed all week and skyrocketed to all-time highs above $2,700 on Thursday, raising some concerns of euphoria, similar to 1999 prior to the dotcom bubble.
Wilson compared the state of blockchain innovation to the early- to mid-1990s, when the internet's infrastructure was just being built. He pointed out that the only major consumer internet businesses at the time were , and .
came later, and , Uber, Airbnb and SoundCloud only emerged in the last 15 years, after the tech bubble's collapse in 2000, Wilson pointed out.
That doesn't give bitcoin the all clear. Rather, it's more likely that the currency and blockchain are still in an early phase, before overspeculation and before widespread adoption.
"I think there's a ways more we could go before the whole thing could come undone in a massive way," Wilson said, noting investors also need to be wary of scams, fraudulent use and challenges in technological development.
That said, the longer-term view is more positive.
"By the end of this decade," he said, "we should start to see native blockchain applications receiving massive adoption."
Watch: Bit risks to bitcoin rally