Cryptocurrency
Bitcoin mania has taken over the world. However, the MIT Technology Review recently published an article that details three ways that Bitcoin could be easily made obsolete — and thus worthless. The virtual currency traded for as much as $20,000 in December before falling back. It recently traded around $8,000. The article, penned by Morgan Peck, […]
President Donald Trump recently reneged on an Obama-era deal with Iran to curtail its nuclear program, reinstating crippling economic sanctions. Trump’s decision fuels an already tough economic crisis in Iran, whose government is grappling with the announcement. Interest rates in Iran have jumped. Foreign exchange dealers are being arrested and the central bank of Iran […]
Former U.S. Federal Reserve governor Kevin Warsh believes that the monetary authority should consider minting a government-regulated cryptocurrency of its own, to be called “FedCoin.” Warsh was governor of the Federal Reserve from 2006 until 2011. In his former position, Warsh was also the designated Federal Reserve representative and liaison to the G-20. He also […]
Financial analysis company Fundstrat predicts that Bitcoin’s value could reach up to $64,000 in 2019 — a 700% increase from recent trading levels. Sam Doctor, the head of data science research at Fundstrat, made the prediction in a recently released report. While Bitcoin’s trading value is notoriously unpredictable for investors and speculators, Fundstrat bases its […]
Despite calls for regulatory reform and vigilance from critics and alarmists, digital currency has found a defender in the Federal Reserve Bank of St. Louis. In a blog post, the Federal Reserve of St. Louis compares cryptocurrencies to fiat currencies — in effect, the same as cold hard cash. Two of the bank’s economists, Aleksander […]
A Thomson Reuters survey reveals that more than one in five financial institutions is currently considering crypto trading in response to consumer demand — and maybe starting up within a year. Retail industry interest in cryptocurrency trading has surged as cryptocurrency mania continues. The survey compiles responses from more than 400 financial companies. Well over […]
Petroleum export giant Venezuela, wracked by inflation and economic chaos, is offering India a staggering 30% discount on crude oil. The catch? Venezuela demands that it be paid in Petro, the nation’s own oil-backed cryptocurrency. The Petro is patterned after broadly popular cryptocurrencies such as Bitcoin but instead of pure cryptography and limited issuance, the […]
Reddit co-founder Alexis Ohanian thinks cryptocurrency Ethereum (ETH) will hit $15,000 during 2018. The cryptocurrency recently traded for $750. If Ohanian is correct, the increase in value would be 1,900%. Ohanian now works at a venture capital firm, Initialized Capital, that began operations in 2012. Initialized Capital was founded by Gary Tan and co-founded by Ohanian. The […]
France will cut its existing cryptocurrency tax rate by more than half, the first steps toward a national embrace of crypto investing and development, according to its current Minister of the Economy. Cryptocurrency profits will be reclassified as as “moveable property” to achieve the tax reduction, falling to 19% from 45%. Prior to the ruling, […]
Nasdaq, the technology-focused stock exchange that oversaw the rise and fall of the dot-com industry, now says it is receptive to becoming a cryptocurrency exchange. Launched in 1971 as the world’s first electronic stock market, Nasdaq today lists approximately 3,600 companies and lists more than half of the companies traded on U.S. markets. It still hosts […]
