Wall Street analysts think Facebook's cryptocurrency payments project will give the company a big boost.Marketsread more
Facebook's reported move into cryptocurrency could amount to the biggest catalyst for digital assets in their decade-long history, some crypto investors say.Bitcoinread more
In a 7-2 ruling, over dissents from Justices Ruth Bader Ginsburg and Neil Gorsuch, the justices affirmed the so-called "dual sovereignty" exception to the Constitution's...Politicsread more
A recent Fed survey showed that workers' confidence for finding a new job after losing their current position was at 61.5% in May.Economyread more
The Fed is expected to cut rates multiple times, but the reason behind those cuts could have vastly different implications for the market.Marketsread more
The "captive carry flight test" evaluates the mock weapon during flight and is the Air Force's latest step amid the budding hypersonic arms race between China and Russia.Politicsread more
"This is going to be the biggest thing that's happened to Facebook in years," says CNBC's Jim Cramer. "It will be vital."Investingread more
European aircraft manufacturer Airbus is betting travelers will want to fly long distances on smaller jets with the launch of its Airbus A321 XLR.Airlinesread more
The action reflects the evolving dynamic for U.S. companies that have done business with Huawei, which has been caught in the middle of growing U.S.-China trade tension.Technologyread more
The announcement comes after Trump blasted three countries because thousands of their citizens had sought asylum at the U.S. border with Mexico.Politicsread more
Deutsche Bank plans to dramatically reduce the size of its U.S. equities business, leaving only a skeleton operation in place to service corporate and high-net-worth clients,...Banksread more
Former Wells Fargo Chairman and CEO Dick Kovacevich told CNBC on Tuesday that he believes bitcoin is a scam.
"I think it's a pyramid scheme. It makes no sense. I'm just surprised it isn't even lower," he said on
Kovacevich joins a growing list of bankers who have denounced the crytopcurrency craze.
In September, Dimon called bitcoin a fraud.
In a Fox Business interview last week, he said he regrets making that comment, but added he's "not interested that much in the subject at all."
Kovacevich does not see bitcoin as an outright fraud.
"There's no fraudulent thing going on. It's just a pyramid scheme," he said. "You're betting that somebody is going to buy it. And some people have been right."
"The fundamentals make no sense," he contended.
Bitcoin tumbled to a six-week low early Tuesday, falling below $12,000 for the first time since Dec. 5, according to CoinDesk, before paring some of those losses.
Comments from South Korea's finance minister renewed concerns about a crackdown in one of the largest markets for digital currency trading.
Despite cold water from the likes of Kovacevich and Dimon, bitcoin bulls such as Saxo Bank crypto analyst Kay Van-Petersen see amazing upside. Van-Petersen predicts $100,000 this year.