Crypto Weekly: a new king of the swingers

STORY: This is Crypto Weekly, with your top stories on virtual currencies…

Bitcoin may have lost its buzz.

The dominant cryptocurrency has been stuck at around $20,000 for days.

That’s odd for a token known for wild price swings.

Some think that, right now, traders are more excited about rival ether.

It’s due for a long-hyped “merge”, which will see it switch to a more energy-efficient form of trading.

Sam Bankman-Fried says his moves to bail out struggling cryptocurrency firms had “mixed results”.

The crypto tycoon told Bloomberg he had done rescue deals worth around $1 billion.

He cited the bailout of crypto lender Voyager Digital as one that didn't go well.

And Binance says it will convert users’ holdings of stablecoins into its own token - Binance USD.

The world’s largest crypto exchange says the move will boost liquidity for users.

Such coins are meant to maintain a stable value, often against the dollar.

Some think the Binance move will sap market share from Tether, the world’s largest stablecoin.