A draft report by the G7 group of nations outlined the risks associated with “global stablecoins.” The report said: “No stablecoin project should begin operation until the legal, regulatory and oversight challenges and risks are adequately addressed.” This report is likely to increase the troubles for Facebook’s Libra project. Former Commodity Futures Trading Commission chairman
As Litecoin (LTC) celebrated its eighth birthday on Oct. 13, its founder Charlie Lee had to fend off crypto Twitter’s FUD — fear, uncertainty and doubt — about the altcoin. Lee’s original post was the exuberant announcement that: “Litecoin network has been up and running continuously for the past 8 years with zero downtime. And
The wait for a Bitcoin (BTC) exchange-traded fund got a bit longer as the United States Securities and Exchange Commission (SEC) shot down the proposal by Bitwise Asset Management and NYSE Arca. The regulators felt that the application did not satisfy the requirement that it will “prevent fraudulent and manipulative acts and practices.” However, there
Grayscale director of sales and business development Rayhaneh Sharif-Askary said that institutional interest in the crypto space has been strong throughout this year. The second quarter inflow was $85 million with 80% coming from institutions. Though this is positive, it shows that the inflow is only a trickle and a fraction of the firepower the
Various cryptocurrency operators have joined hands to launch a rating system that will define how close a digital asset resembles a security. On a scale of one to five, one will be awarded to cryptocurrencies that are least characteristic of a security, whereas five will have the most similarities to a security. This rating system
When Bitcoin (BTC) rallies sharply it does not leave a chance to buy. Traders then regret missing the bus. They promise themselves that they will buy on the next dip. However, when the prices correct, fear grips the traders and they again miss pulling the trigger. While there will be many reasons for a fall,
A new Remote Access Trojan (RAT) malware that steals Bitcoin (BTC) wallet data has been discovered by security researchers, according to a Sept. 12 report from Zscaler ThreatLabZ. The RAT, dubbed InnfiRAT, is designed to perform a wide range of tasks on the infected machines, including specifically seeking out Bitcoin and Litecoin (LTC) wallet data.
The Chicago Board Options Exchange has withdrawn its application for the VanEck/SolidX Bitcoin (BTC) exchange-traded fund (ETF). However, VanEck’s director of digital asset strategies Gabor Gurbacs stated that they will continue to work with regulators to bring “a physical, liquid and insured ETF” to the market. Bitcoin had a muted reaction to this news, which
The WeWork IPO that was originally expected to happen this month is now postponed until October or later, the Journal reports. | Credit: Reuters WeWork, the flexible workspace wonder, is taking a cue from the stock market. The newest unicorn has decided to delay its upcoming IPO, according to The Wall Street Journal, and in
Gold’s price rallies back above $1,500 a troy ounce on Monday. | Image: Shutterstock Gold’s price staged a large relief rally on Monday, as investors’ risk appetite soured following the latest developments in the Middle East. Dow futures also fell sharply ahead of the opening bell in New York, mirroring a subdued market for stocks.
A satellite image shows an apparent drone strike on an Aramco oil facility in Abqaiq, Saudi Arabia September 14, 2019. | Image: Planet Labs Inc/Handout via REUTERS Oil prices skyrocketed in early futures trading on Monday, as Saudi Arabia rushed to restore lost output following a weekend attack on the kingdom’s production fields. The attack,
A devastating drone attack sets fire at an Aramco factory, the world’s biggest oil refinery, in Abqaiq, Saudi Arabia, September 14, 2019. | Source: Saudi Arabia is reeling this weekend after a devastating series of drone attacks in Abqiaq left its oil industry in shock. Houthi rebels from the country of Yemen claimed responsibility for
Nas wasn’t wrong to back a fintech product designed to disrupt the payday loan industry. He just threw his weight behind the wrong one. | Source: Shutterstock Famed rapper Nasir Jones (“Nas”) made a poor choice in backing a revolutionary new financial services product that provides “earned wage access” to employees. A variety of earned
Bitcoin’s hash-rate is 8x higher from late 2017 when the cryptocurrency hit an all-time high. | Source: Shutterstock The hash rate of the Bitcoin network (BTC), which represents the amount of computing power securing the blockchain protocol, has increased by around eight-fold since hitting its record high at $20,000 in 2017. According to data provided
US President Donald Trump is going soft on China, for now. | Source: AP Photo/Alex Brandon, File Dow Jones Industrial Average (DJIA) futures popped 75 points higher in early trading Thursday. Stock market optimism returned as President Trump gifted China a two-day stay of execution on looming trade war tariffs. In tweet last night, Trump
Ransomware extortionists get counter-offered to zero. | Source: Shutterstock When ransomware attackers targeted the city of New Bedford, Massachusetts, two months ago demanding $5.3 million in Bitcoin, they must have felt very confident when turning down a counter-offer of $400,000 that the city presented. That feeling probably turned to regret soon thereafter as it has