Cryptocurrency
The state of California, by some measures among the largest economies in the world, is moving to recognize stock ownership via blockchain technology. Companies would be allowed to store data, including information about stockholders, on a blockchain, according to California Senate Bill 838. If approved by committee the full Senate would vote on the measure. The […]
Two people, quite likely total strangers who could have been continents apart, recently exchanged $99 million worth of the cryptocurrency Litecoin in a single transfer. Public data from the exchange showed it took less than three minutes to settle and cost 40 cents in fees. Similar transactions done under the rules of traditional finance would […]
Goldman Sachs made some big waves within the world of crypto, deciding recently to hire the first member of a new cryptocurrency trading desk. Justin Schmidt will be the first head of digital asset markets in Goldman’s securities division. Schmidt’s previous stops on Wall Street include the quantitative trading firms Seven Eight Capital LLC and WorldQuant […]
Tech giant Amazon says it will release blockchain frameworks, a major step into the technology used to back cryptocurrencies such as Bitcoin. Amazon Web Services (AWS), the e-commerce’s cloud computing arm, put forward two of its blockchain frameworks this week. One framework is for Ethereum, while the other framework is for Hyperledger Fabric. These frameworks will […]
Cybersecurity tycoon John McAfee has remade himself into a self-styled “crypto visionary” and is offering his promotional influence for any takers. The price for a single pro-crypto tweet? A cool $105,000. The flamboyant computer software pioneer, once a “person of interest” in a Belize murder case, now flaunts his promotional prowess on initial coin offerings (ICOs). Want […]
Mark Karpeles, former CEO of defunct Japanese cryptocurrency exchange Mt. Gox, is shunning $1 billion in capital left in the company. Since a 2014 cyberhack and heist, Karpeles and Mt. Gox shareholders have been paying off creditors. More than $450 million in Bitcoin was stolen during the hack. Karpeles, a native Frenchman, has been arrested twice and […]
Venrock, the official venture capital firm of the Rockefeller family, has turned its sights on the cryptocurrency market. The Rockefeller name is about as old as old money gets. The family made its wealth on Standard Oil and controls Chase Manhattan Bank. The moniker graces cultural institutions and iconic buildings far and wide, including New […]
At the beginning of 2018, billionaire left-wing activist George Soros labeled cryptocurrencies a bubble. Now his $26 billion family office plans to trade in crypto assets. Soros Fund Management has given internal approval to Adam Fisher, who manages macro investing at the fund, to trade digital currencies. Speaking at the recent World Economic Forum in […]
Investors enriched by the 2017 bull market in cryptocurrencies now face hefty tax liability and increased scrutiny from the IRS. The IRS treats cryptocurrency as property, not currency, for tax purposes. So every exchange of a digital coin for something else is a taxable event. Many investors who sold one type of cryptocurrency to buy another […]
One the of the world’s largest gold-producing companies is working with blockchain to stabilize virtual currency trading and, in time, to monetize the value of billions in currently stored gold. The company, Vancouver’s Goldcorp, will back cryptocurrency transactions with physical gold held in an vault at the Royal Mint in Ottawa. As an initial step, […]
