Nobel Prize-winning economist Joseph Stiglitz says that Bitcoin creates no value for society and only works by getting around the role of the government in controlling currency. It should be outlawed, he said. Stiglitz, who teaches at Columbia University, is a former senior vice president and chief economist of the World Bank. He shared the Nobel Prize […]
If you think investing in funds linked to cryptocurrencies is safer than buying cryptocurrencies themselves, think again. The U.S. government is tightening its regulation of crypto funds and telling investors to think twice before putting money in them. Opportunities abound for price manipulation as cryptocurrencies grow in number. There are 1,470 listed on Coinmarketcap.com, including […]
Nearly $534 million has been stolen by hackers from a cryptocurrency exchange in Japan called Coincheck. This is the world’s largest-ever cryptocurrency theft. Japan’s Financial Services Agency (FSA) is reporting that they told Coincheck to come up with increased measures to make sure this kind of attack never happens again. Currently, other cryptocurrency exchanges are […]
Robinhood, a commission-free stock trading app, is entering the crypto space in a bold move that could threaten Coinbase and other industry exchanges. Starting in February, the app will allow users to buy and sell Bitcoin and dozens of other cryptos without any transaction fees. This compares to the 1.5 percent to 4 percent that […]
Payment processor Stripe was one of the first to accept Bitcoin back in 2014, heralding the crypto as a start toward of mainstream acceptance as a currency. After the huge run upward in value, the processor now calls the virtual currency an investment, not a means of exchange. As a result, Stripe has ended support […]
Florida-based risk ratings firm Weiss Ratings has released the first formal rating for cryptocurrencies — reviewing thousands of data points on each coin’s trading patterns, technology, and usage. Bitcoin gets a C+, while Ethereum rated a B. No coin on the list got an A. Weiss instead lays out the case for developing a more […]
More than 10 percent of funds raised in initial coin offerings from 2015 to 2017 were stolen by hackers or were lost, a cryptocurrency research report by Ernst & Young shows. The international accounting firm examined 372 initial coin offerings (ICOs) that hackers attacked, and estimated that the losses totaled $400 million of the $3.7 […]
North Korea is looking at crypto hacking and crypto development as ways to beat sanctions levied from the United States, Japan and Europe last September. The sanctions were meant to deter North Korea from testing more missiles. North Korea began mining for bitcoin last May, according to intelligence reports. That means the value of its […]
Despite soft bans and official pronouncements otherwise, Chinese firms appear to be launching headlong into cryptocurrency mining. CnLedger, a Twitter-based Chinese crypto news information provider, relayed the report from Chinese Internet service qq.com, stating Alibaba’s ‘P2P Nodes’ platform had “launched” after a registration in October 2017. Another Chinese conglomerate, Tencent, has registered a “Blockchain-related trademark” […]
Some financial advisors have dubbed the phenomenon the “F.O.M.O Syndrome,” or the fear of missing out on a supposedly sure thing — whatever the motivation, around one in five Bitcoin buyers are borrowing to add to their holdings. Speculators are so desperate to get in on investing in Bitcoin that they are investing with borrowed […]
