Bitcoin tumbles as U.S. senators grill Facebook on crypto plans


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Bitcoin tumbles as U.S. senators grill Facebook on crypto plans

The cryptocurrency market took a beating on Tuesday with bitcoin losing over 10% in value after U.S. lawmakers grilled Facebook on its cryptocurrency plans, as political and regulatory scrutiny of digital coins intensifies.

Facebook should not be trusted with 'crazy' cryptocurrency plan: senators

Democratic and Republican lawmakers said on Tuesday that Facebook Inc's track record of what they described as untrustworthiness should stand in the way of it launching a digital currency, labeling the plan "delusional" and "crazy" at a Senate hearing.

U.S. SEC chief says he has not met with Facebook since Libra announcement

A top U.S. financial market regulator said on Tuesday he has not discussed with Facebook its Libra currency proposal, nearly a month after the social media giant announced the project.

United Airlines quarterly profit beats on strong travel demand, higher fares

United Airlines Holdings Inc on Tuesday reported a greater-than-expected increase in second-quarter profit, driven by strong air travel demand and the ability to charge more for seats given supply constraints from the Boeing Co 737 MAX grounding.

Wall Street slips as bank earnings, Trump trade comments weigh

U.S. stocks edged lower on Tuesday as quarterly results from banks added to concerns about lower interest rates dampening their profits, while comments from U.S. President Donald Trump on trade also dragged down Wall Street's major indexes.

Oil falls as Iran tensions seen easing

Oil prices turned lower on Tuesday, falling more than 3% after U.S. President Donald Trump said progress has been made with Iran, signaling tensions could ease in the Mideast.

U.S. retail sales data dents stocks, lifts Treasury yields

A gauge of global equities lost ground on Tuesday and U.S. Treasury yields moved higher as a stronger-than-anticipated report on retail sales raised the possibility the Federal Reserve could adopt a less dovish stance.

SEC reaches $60 million settlements involving ex-American Realty executives

Two former executives at American Realty Capital Properties Inc, including the onetime billionaire who built it, have reached more than $60 million in settlements with the U.S. Securities and Exchange Commission of charges they wrongfully extracted millions of dollars from the real estate investment trust.

Amazon offers $10 to Prime Day shoppers who hand over their data Inc has a promotion for U.S. shoppers on Prime Day, the 48-hour marketing blitz that started Monday: Earn $10 of credit if you let Amazon track the websites you visit.

Blue Apron beefs up menu with Beyond Meat, shares surge 60%

Blue Apron Holdings Inc's beleaguered stock surged 60% on Tuesday after the meal-kit subscription service said it would add Beyond Meat Inc's plant-based burgers to its menu, betting on a growing market for premium meat alternatives to attract new customers.

JPMorgan beats profit estimates but shows signs of pressure

JPMorgan Chase & Co reported a quarterly profit that beat estimates on Tuesday as higher interest income and consumer lending offset lower activity at its trading desks.

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