Bitcoin plunges below $6,000, regulators in focus as U.S. prepares hearing in Senate Tuesday
Businessam Staff
February 6, 2018
The rout in cryptocurrencies intensified, sending Bitcoin to its lowest level since October, as worries over tighter regulation by U.S. authorities and central bankers elsewhere gave traders fresh reasons to sell after a brutal start to 2018. The biggest virtual currency sank 11 percent to $6,338 at 9:24 a.m. London time, after earlier sliding to […]
Bitcoin, Ethereum, others fall as major cyber attack hit Japanese cryptocurrency exchange
Businessam StaffJanuary 30, 2018
The six largest cryptocurrencies have all lost value in the last 24 hours. Bitcoin was down 4.6%, Ethereum was down 4.6%, and Ripple’s XRP was down 6.3%. The six largest cryptocurrencies, including the flagship bitcoin, have all sunk in the last 24 hours, according to data from Markets Insider, following a major cyber attack against […]
Cryptocurrencies drop after Japanese exchange halts withdrawals
Businessam StaffJanuary 26, 2018
Cryptocurrencies slumped after one of Japan’s biggest Bitcoin venues halted client withdrawals, spooking investors in a country that’s still wary of digital-token exchanges four years after the collapse of Mt. Gox. Coincheck Inc., based in Tokyo, said in a series of tweets that it had suspended all withdrawals, halted trading in all tokens except Bitcoin, […]
Nigeria’s central bank warns on virtual currencies, says ‘it is like gamble’
Goddey OdinJanuary 25, 2018
Godwin Emefiele, Nigeria’s central bank governor said investing in the cryptocurrency or bitcoin is a “gamble” and hinted it may have to be regulated. Emefiele disclosed this in an interview with Bloomberg in Abuja. According to the governor, in Nigeria, where bitcoin trading grew the most in Africa last year, cannot assure investors that the […]
No legal functions for bitcoin, says Nobel-prize winning economist
Businessam StaffJanuary 24, 2018
Joseph Stiglitz, Nobel-prize winning economist said bitcoin serves no useful function, other than circumventing legality. Stiglitz, who has called on bitcoin to be outlawed, told Bloomberg Television from Davos: “We have a good medium of exchange called the dollar.” He argues that regulating bitcoin would mean driving it out of existance, and he thinks that would […]
Bitcoin professionals cashed out, making a buck from last-minute amateur investors responsible its crash
Businessam StaffJanuary 21, 2018
The largest cryptocurrency bitcoin surged to $20,000 in December. Its rapid growth was due to common folk deciding to invest in the hope of making a quick buck. It was a time for professional investors to sell. “Many people behind bitcoin and cryptocurrencies as a whole understand that the skyrocketing prices in the last few […]
Intercontinental Exchange, Blockstream move to save crypto-currency from crashing.
Badmus AdemolaJanuary 19, 2018
Intercontinental Exchange, a leading operator of global exchanges and clearing houses, providing of data and listings services, announced Thursday, it had partnered Blockstream for the launch of the Crypto-currency Data Feed. Blockstream, which is a leading provider of block-chain technologies, builds technologies that help crypto-currency to reach its full potential. It also improves crypto-currency market […]
Nigerian startup, SureRemit raises $7m for blockchain-based remittance service
Bukola OdufadeJanuary 18, 2018
Nigerian startup, SureRemit announced Thursday that it had raised $7 million via an initial coin offering (ICO) to roll out its digital voucher system that makes payments easier, cheaper and cashless. SureRemit is a Nigerian based non-cash remittance platform with international merchants such as Amazon, Samsung, and Airtel. It had launched the ICO in a […]
Bitcoin price continues to fall as Putin says legal regulation of cryptocurrency ‘definitely required’
Businessam StaffJanuary 17, 2018
The price of Bitcoin continued to fall Wednesday, as Vladimir Putin said legislation regulating the cryptocurrency market could be needed in the future in Russia. The Russian President discussed the risks of cryptocurrencies, saying they are efficient but also “not secure”, adding that more regulation “will be definitely required”. Speaking to Russian news agency TAAS, […]
Bitcoin slides 18% on crackdown fears as crypto rivals plunge
Businessam StaffJanuary 16, 2018
Bitcoin tumbled 18 percent on Tuesday to a four-week trough close to $11,000, after reports that a ban on trading of cryptocurrencies in South Korea was still an option drove fears grew of a wider regulatory crackdown. Bitcoin’s slide triggered a massive selloff across the broader cryptocurrency market, with biggest rival Ethereum down 23 percent […]