Bitcoin has its own 1% who control outsized share of wealth
CBSN
Cryptocurrency has been touted as a new form of digital money not tied to government or a central bank and is therefore inherently free from bias and unequal distribution. However, a recent study by the National Bureau of Economic Research suggests that bitcoin has developed its own group of one-percenters who will likely reap most of the gains in coming years.
The NBER study found that the top 10,000 bitcoin investors own a combined 5 million bitcoins, or roughly $230 billion's worth at recent prices. Those figures mean that, even though bitcoin launched in 2009, "participation in bitcoin is still very skewed toward a few top players even at the end of 2020," said finance experts Igor Makarov and Antoinette Schoar, who wrote the study.
A cybercriminal group claims it stole personal data belonging to more than 500 million Ticketmaster customers. Although the event ticketing service, owned by Live Nation Entertainment, hasn't confirmed the attack, security experts warn that it could put users of the platform at risk for a range of scams.
Two climbers were waiting to be rescued near the peak of Denali, a colossal mountain that towers over miles of vast tundra in southern Alaska, officials said Wednesday. Originally part of a three-person team that became stranded near the top of the mountain, the climbers put out a distress call more than 30 hours earlier suggesting they were hypothermic and unable to descend on their own, according to the National Park Service.