CRYPTO INSIDER: Coins beating stocks after a blockbuster regulatory hearing

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The heads of two major US regulators testified in front of a congressional committee about cryptocurrencies, initial coin offerings, and the regulation of them. Here's what went down. 

So far on Wednesday, cryptocurrencies are outpacing stocks. Here's the full scoreboard: 

• Bitcoin (BTC): $8,222 (+6.7%)

• Ethereum (ETH): $831 (+5.3%)

• Ripple (XRP): $0.78 (+2.3%)

• Bitcoin Cash (BCC): $1,011 (+4.5%)

• Litecoin (LTC): $150 (+5.6%)

What else is happening:

• Andreessen Horowitz is backing a crypto-powered 'internet computer' that could be the future of cloud computing.

• Meet 'The Wolf of Crypto Street,' an Ohio teenager who used his entire savings to become a cryptocurrency millionaire.

• A startup raised $59 million in a token sale to usher in the next generation of crypto.

• Eeconomist Ken Rogoff: Cryptocurrencies will eventually be regulated and issued by the government

• Lingerie tycoon Michelle Mone and her billionaire boyfriend Doug Barrowman are doing a $75 million ICO

• Finally, Early Uber investor Shervin Pishevar ranted for 21 hours in one tweet storm about everything under the sun, including bitcoin — but it's unclear why

NOW WATCH: Microsoft President Brad Smith says the US shouldn't get 'too isolationist'

See Also:

• China is moving to eliminate all cryptocurrency trading with a ban on foreign exchanges

• Bitcoin is down 45% this year — but that's not what's worrying cryptocurrency exchanges

• South Korea’s defense ministry is taking steps to keep soldiers from getting caught up in the cryptocurrency frenzy

SEE ALSO: South Korea’s defense ministry is taking steps to keep soldiers from getting caught up in the cryptocurrency frenzy