As another wild week for cryptocurrencies draws to a close, there are the headlines you can't miss on Friday, Jan. 26.
Price range narrows
Following wild swings last week, some of the top cryptocurrencies by market cap were narrower in trading range this week. On Friday afternoon, bitcoin and ethereum were trading lower, close to 2% each. Ripple was moving more, down nearly 9%. Bitcoin hit this week's high on Sunday, Jan. 21, at $12,895.90 and a low on Tuesday, Jan. 23, at $10,129.70, according to data from Coinmarketcap.
Coincheck confirms hack
Coincheck, a Tokyo-based cryptocurrency exchange, confirmed that it was the focus of what appears to be the biggest ever hack of a crypto trading platform ever, according to a report from Coindesk. Coincheck reportedly lost approximately $533 million, with 500 million tokens taken from the exchanges' digital wallets. The hack is notably larger than the Mt. Gox hack in 2014, which was estimated to cost $340 million. While Mt. Gox was an enormous ordeal then, this hack will likely have less impact given the enormous increase in crypto market cap since then, Coindesk said.
Brisbane airport goes digital
The Brisbane Airport in Australia will soon start accepting cryptocurrency as payment at shops within the terminals. Cryptocurrency travel firm TravelByBit will provide the airport with the technology to utilize bitcoin, ethereum, dash and other digital coins in stores and restaurants while they wait for flights. This is the first airport in the world to roll out crypto payments, according to a statement from the Brisbane Airport announcing the new tech.
Starbucks' Schultz weighs in
In a conference call following Starbucks Corp.'s (SBUX) disappointing earnings late Thursday, the company's executive chairman and former CEO Howard Schultz said legitimate cryptocurrencies are coming, but bitcoin is simply not one of them. "I don't believe that bitcoin is going to be a currency today or in the future," Schultz said. He added that there is enormous potential in cryptocurrencies' underlying blockchain technology, though.
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