#finance

Bitcoin Attracts Opportunity Seeking High-Speed Traders

Institutional Investors May Guide Bitcoin Out of Consolidation Period

May 28, 2018 by Joseph Young at Bitcoin, Commentary, Finance, News

On May 23, technical analyst Peter Brandt suggested that there exists a solid 65 percent chance the price of bitcoin falls to a bottom of $3,505. In response, cryptocurrency researcher and analyst Willy Woo explained that a 2014-like fall to the $3,000 region is unlikely, given the difference in the...

Poloniex Bitcoin Exchange Continues Expansion Push with DEX Acquisition

Poloniex Freezes Customer Trading Accounts For Not Completing KYC: Millions in Funds Locked up

May 28, 2018 by contributor at Altcoins, Bitcoin, Business, Finance, News

Poloniex, the world’s 25th largest cryptocurrency exchange by trading volume, caused a stir on Twitter on May 27, 2018, after news that it shall freeze customer accounts unless they provide their personal details to the exchange. Exchanges Giving Away Customer Data Cryptocurrency exchanges are feeling the heat from governments worldwide,...

Chicago Trader Faces Jail Time Over Bitcoin and Litecoin Theft

Vancouver-based Bitcoin Trader Sentenced to Jail in the U.S.

May 28, 2018 by Priyeshu Garg at Bitcoin, Finance, News, Regulation

Louis Ong, a bitcoin trader, has been indicted for running an unlicensed money services business and sentenced to 20 days imprisonment. Ong had been the subject of an HSI investigation and was arrested in 2017 after reneging on an agreement to cease his unlicensed digital currency trading activities. The HSI...

Cryptocurrency Risks Outweigh Benefits: Bank of Spain Governor

May 28, 2018 by Priyeshu Garg at Altcoins, Bitcoin, Business, Finance, News

Cryptocurrencies pose more harm than good, according to Bank of Spain governor, Luis Maria Linde. Amidst the warning on May 25, the governor remains confident that the underlying technology powering virtual currencies, the blockchain, has the potential to improve efficiency and reduce costs in the financial sector. Luis Maria Linde....

Former VISA CEO Joins Cryptocurrency Payments Startup

May 28, 2018 by contributor at Altcoins, Bitcoin, Business, Finance, News

Marc O’Brien, the former CEO of Visa in the United Kingdom and Ireland, has recently joined a new cryptocurrency startup, which aims to make crypto transactions a routine habit for its spenders. Crypto-Startups Realise The Value of Experience The startup, Crypterium, was founded by a group of young entrepreneurs who...

Over 1,200 Complaints about Crypto Scams Sent to Australian Watchdog in 2017

Australian Watchdog Reveals Losses of Over AU$2 Million to Cryptocurrency Scams in 2017

May 28, 2018 by contributor at Altcoins, Commentary, Finance, News, Regulation

Cryptocurrency scams were perhaps the most widely reported feature of the digital asset class, apart from their mammoth price increase. Millions of dollars have been fleeced from unsuspecting investors, who needed nothing more than a functional website and a basic whitepaper to consider a project as “trustworthy.” Scammers Adept At...

“Buy Bitcoin, Dump Altcoins”: Says Blockchain Venture Capitalist, Spencer Bogart

May 28, 2018 by Priyeshu Garg at Altcoins, Bitcoin, Commentary, Finance, News

Spencer Bogart, blockchain venture capitalist and a partner at Blockchain Capital told CNBC that bitcoin is being profoundly institutionalized, getting more use cases and therefore is still a great buy. He also mentioned that some of the altcoins like ether, bitcoin cash or EOS are good to hold, while Cardano,...

Xapo’s Bitcoin Wallet Adds Support for Segregated Witness

May 27, 2018 by Ogwu Osaemezu Emmanuel at Bitcoin, Business, Finance, News

Back in August 2017, Segregated Witness (SegWit) was implemented for bitcoin; a protocol that’s aimed at alleviating the problems of scalability and high transaction fees. Now, Xapo has integrated SegWit into its wallets and vaults in a bid to serve its retail clients as well as institutional investors who use...

General Bytes Installs 10 Bitcoin ATMs Across Prague Subway Routes

May 27, 2018 by Priyeshu Garg at Altcoins, Bitcoin, Business, Finance, News

The capital city of the Czech Republic, Prague, has become the scene of the latest explosion of bitcoin-related development as General Bytes has installed a network of ten bitcoin ATMs at different points along the city’s subway routes. The map shows the current locations of the ten bitcoin ATMs in...

Major South Korean Crypto Exchanges Bithumb and UPbit Face Backlash and Criticism

May 27, 2018 by Joseph Young at Altcoins, Bitcoin, Business, Finance, News, Regulation

UPbit and Bithumb, two of the biggest cryptocurrency exchanges in South Korea and the global cryptocurrency market, have faced backlash and criticism from the local cryptocurrency market for the scandalous behavior since early May 2018. UPbit Investigation Found No Irregularities On May 13, 2018, BTCManager reported that the official investigation...

South Africa Central Bank: “Cryptocurrencies Don’t Meet Requirements For Money”

May 27, 2018 by Priyeshu Garg at Altcoins, Bitcoin, Commentary, Finance, News, Regulation

South Africa is the latest country to try and classify cryptocurrencies as it looks to regulate the industry and generate income tax. According to the country's Central Bank, digital currencies such as bitcoin (BTC) are mere “cyber-tokens” that don't meet the criteria to be categorized as money. South African Cryptocurrency...

South African Authorities Investigate $80 million Bitcoin Scam

May 26, 2018 by Cindy Huynh at Altcoins, Bitcoin, Finance, News

On May 25, 2018, South African authorities announced further information of an ongoing investigation of a cryptocurrency scam that has cost investors one billion rands ($80 million). False Claims and Investor Pitfalls According to Reuters, South African police mentioned that the investigation involved BTC Global, a cryptocurrency trading company. The...

Poland’s Cryptocurrency Tax Law Crashes as Investors Resist Draconian Regulation

May 26, 2018 by Ogwu Osaemezu Emmanuel at Altcoins, Bitcoin, Finance, News, Regulation

While most stake “hodlers” in the cryptocurrency ecosystem agree that there is a need for amenable regulation of the cryptosphere, Polish digital currency investors have refused to abide by the PPC law, due to its draconian nature. Now the Polish authorities have agreed to temporarily suspend the “Civil Law Transactions...

German Stock Exchange Ponders Offering Bitcoin Trading to Clients

May 26, 2018 by Ogwu Osaemezu Emmanuel at Altcoins, Bitcoin, Business, Ethereum, Finance, News, Regulation

Even with the reign of the bear market, it seems more and more financial institutions are seriously looking to join the bitcoin train. On May 24, 2018, Frankfurt-based Deutsche Borse AG has hinted it's weighing the possibility of offering clients bitcoin and other crypto-related products. Fighting the Bitcoin Bug According...

Major Natural Gas Company in the Czech Republic Adopts Bitcoin Payments

May 26, 2018 by Rahul Nambiampurath at Bitcoin, Business, Finance, News

The Czech Republic’s largest natural gas company Prazska Plynarenska announced that it would soon begin accepting payments in bitcoin. Clients will have the choice to pay their monthly dues in cryptocurrency as well as fiat currency. From local media reports, it seems as if the company is attempting to modernize...

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