The largest U.S. banks are scrutinizing members of the Federal Reserve for any insight into how the central bank will tinker interest rates.Banksread more
Facebook's cryptocurrency project has already been met with skepticism from policymakers around the world.Technologyread more
The U.S. and China restarted their trade talks, but signs are showing a comprehensive deal could be a long way off, if it happens at all.Marketsread more
Stone, 66, a notorious Republican political operative who has described himself as a "dirty trickster," had previously been dressed down by the judge for his public remarks...Politicsread more
The Biden team's second-quarter Federal Election Commission filing shows that the campaign wrote a check of just over $5,300 on June 28 to Sheehan Associates for "strategic...2020 Electionsread more
See which stocks are posting big moves after the bell on July 16.Market Insiderread more
While the vote served as a show of solidarity for Democrats, it recommended no substantive penalty against Trump.Politicsread more
United Airlines' second-quarter profit tops estimates but questions about the 737 Max linger.Airlinesread more
Three civil rights groups filed a federal lawsuit on Tuesday challenging the Trump administration's new asylum rule, which bars asylum claims from most noncitizens who travel...Politicsread more
Google VP of policy Karan Bhatia started sweating early as hearing chair Ted Cruz brings out an internal presentation created within the company.Technologyread more
At a hearing with the House Judiciary subcommittee on antitrust, an Amazon representative disputed a key argument about how it users sellers' data.Technologyread more
Bitcoin skyrocketed close to $13,000 on Wednesday, notching a 17-month high and continuing a stunning turnaround for the cryptocurrency in 2019.
The digital currency surged as high as $12,919 in early morning trade, according to CoinDesk's bitcoin price index, which tracks prices from various exchanges.
That was the highest level the virtual coin had traded at since January 2018. It's now up 230% since the start of this year. Bitcoin last traded about 11% higher on Wednesday to $12,610.
It was the biggest gainer among some of the most popular cryptocurrencies, with ether up nearly 9% at $338 and XRP almost 3% higher at about 48 cents. Bitcoin's dominance of the market now stands at over 60%, according to CoinMarketCap.
Bitcoin has enjoyed a spectacular rally this year as investors look to major companies like Facebook getting involved in the crypto space. The social media giant announced plans for a cryptocurrency called Libra last week. The digital token will be used for payments and is being overseen by a consortium of companies including Visa and Uber.
There are other theories behind bitcoin's move higher, including the idea that it may be viewed as a hedge amid ongoing U.S.-China trade uncertainty. Another reason for the rally, experts say, is that traders are anticipating a so-called "halvening" event next year that cuts the rewards to bitcoin miners in half.
The story in 2019 is in stark contrast with what happened in the market last year. Bitcoin plummeted more than 70% over the course of 2018, with other cryptocurrencies also falling sharply. That was after an almost $20,000 record high hit in late 2017.