These are the stocks posting the largest moves before the bell.Market Insiderread more
CNBC's Mike Santoli breaks down the aggressive buying of "sure things" and shunning of cyclical and policy risk.Trading Nationread more
The Iranian Intelligence Ministry held a briefing on Monday where they announced the alleged spies were Iranian citizens but trained by the CIA.World Newsread more
Equifax will pay at least $575 million, and potentially as much as $700 million, to settle allegations over its massive over 2017 data breach, U.S. regulators said in a...Technologyread more
Facebook has seen an increase in the median number of comments, likes and ads clicked by users on the service from January to July, according to Audience Insights, a Facebook...Technologyread more
Two traders say Boeing's on the path to recovery.Trading Nationread more
In its latest attempt to build market credibility, China on Monday launched the Science and Technology Innovation Board, or "STAR Market," on which 25 companies were listed.China Economyread more
Bridgewater Associates's flagship fund reportedly posted one of its worst first-half performances in two decades.Hedge Fundsread more
The U.S. will likely emerge the winner in a "cold currency war" that is heating up, an expert said.Currenciesread more
Morgan Stanley maintained its overweight rating on Apple's stock and hiked its price target to $247 from $231, heading into the tech giant's third-quarter earnings on July 30.Investingread more
General Electric is scheduled to report second-quarter earnings at the end of the month.Investingread more
The general manager of the Bank for International Settlements (BIS) has savaged bitcoin as a "combination of a bubble, a Ponzi scheme and an environmental disaster."
Augustin Carstens questioned Tuesday the sustainability of bitcoin and other cryptocurrencies and suggested authorities had a duty to clamp down on the payment technology.
Sentiment for virtual coins has taken a hammering in 2018 with over $550 billion of value wiped off the entire cryptocurrency market in just under a month. Bitcoin is off around 70 percent from its all-time high in mid-December and its market capitalization has fallen $233.5 billion since then.
In a lecture given in Frankfurt, Germany, Carstens said there were cracks appearing in the "house of bitcoin" as too many copycat currencies had forked off the technology, including bitcoin gold and bitcoin cash. The banker argued this replication could only lead to debasement of cryptocurrencies to the point where they held no economic value at all.
The BIS is known as the "central bank's bank" as that is where the likes of the Federal Reserve and Bank of England hold accounts. Carstens cited trust as another problem for cryptocurrencies as they would never be governed or supported by such institutional infrastructure.
Carstens then called into question bitcoin's efficiency and legality.
"While perhaps intended as an alternative payment system with no government involvement, it has become a combination of a bubble, a Ponzi scheme and an environmental disaster," he said. "The volatility of bitcoin renders it a poor means of payment and a crazy way to store value."
Carstens said the current fascination with cryptocurrencies seemed to have more to do with "speculative mania" and that their only true function appeared to relate to illegal activities.
He said authorities should act to protect consumers and ensure that cryptocurrencies could not be used to evade tax, launder money or finance criminal activities.