Litecoin creator issues stern warning after cryptocurrency doubles in single day
Businessam Staff
December 13, 2017
Cryptocurrencies have exploded since bitcoin futures began trading in Chicago over the weekend. Litecoin, the fifth-largest coin by market-cap, has seen its value more than double since Sunday afternoon, trading above $300 Tuesday morning — 110% above its weekend price. Creator Charlie Lee wasn’t celebrating like some other Litecoin holders, though. The former director of engineering at crypto […]
Bitcoin breaks CBOE as futures up 20% after launch, trades at $18,210
Businessam StaffDecember 11, 2017
Within three hours after its listing of bitcoin futures, the website and online trading platform of the Chicago Board Options Exchange (CBOE) were inaccessible, due to an unexpected spike in demand and volume. According to Yuji Nakamura, a Tokyo-based technology journalist, CBOE bitcoin futures processed $401,600 worth of trades within the first 20 minutes. Upon […]
Bitcoin futures go live, could change the game for cryptocurrencies
Businessam StaffDecember 11, 2017
Cboe Global Markets, the Chicago-based exchange group, will be the first exchange to launch bitcoin futures. And you can be sure Wall Street will be watching. CME Group, Cboe’s cross-town rival, will launch its market later in December. And Nasdaq is preparing for a launch for the second-half of 2018. The new product by Cboe […]
France endorses blockchain for trading unlisted securities
Businessam StaffDecember 10, 2017
France is to begin trading unlisted securities using blockchain technology, a revolutionary move that will see middlemen such as brokers and custodian banks removed from the trading process. The changes were announced by French Finance Minister Bruno Le Maire and will come into force in July next year. It will only apply to non-listed securities […]
Austrac gets the legal nod to monitor Bitcoin, Ethereum exchanges
Businessam StaffDecember 9, 2017
The Australian Transaction Reports and Analysis Centre (Austrade) will be monitoring cryprocurrency exchanges after the Australian Senate passed the Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2017 on Thursday. The amendment bill, which was introduced in August, was approved by the House of Representatives on Wednesday, and took the Senate one day to pass. Under the amended legislation, […]
Goldman Sachs interrogates clients about bitcoin’s price trajectory, sign of growing interest
Businessam StaffDecember 7, 2017
Goldman Sachs asked clients their views on bitcoin’s likely price trajectory, yet another sign of growing interest in cryptocurrency from mainstream finance. Goldman Sachs’ market “strat” team within the securities division sends a monthly poll to clients to gauge their thinking on a variety of investment issues. The December “Quickpoll” includes the question: “Where do […]
Bitcoin up $12,000 as futures move closer to reality
Businessam StaffDecember 6, 2017
Bitcoin surpassed $12,000 for the first time amid speculation that the widespread use of futures will help lead to digital currencies being viewed as a legitimate asset class for mainstream investors. The largest cryptocurrency by market value has soared from less than $1,000 at the start of the year as optimism climbs for the distributed […]
Japan now has 15 licensed cryptocurrency exchanges
Businessam StaffDecember 4, 2017
It is always good to see more cryptocurrency exchanges open their doors. In Japan, that process is not as simple as it seems. Every exchange needs explicit approval and a license from the Japanese Financial Services Agency. So far, several companies successfully received their license already. Four new exchanges have now undergone the same process […]
Georgia now has over 100 bitcoin ATMs as cryptocurrency interest surges
Businessam StaffDecember 4, 2017
As Bitcoin prices fluctuate near record highs and adoption picks up, the world’s largest Bitcoin ATM provider is bringing its largest installation to date to Georgia. Coinsource has placed 18 of its Bitcoin ATMs in Atlanta and these, along with two in Athens, add 20 new units to Georgia’s current Bitcoin ATM network. Coinsource leadership […]
Bitcoin ought to be outlawed, says Joseph Stiglitz
Businessam StaffDecember 1, 2017
Joseph E. Stiglitz, Nobel Prize for Economics and Professor, School of International and Public Affairs (SIPA), Columbia University, has condemned Bitcoin as “successful only because of its potential for circumvention [and] lack of oversight,” and has called for it to be banned. In a Bloomberg Television interview, he said the cryptocurrency doesn’t serve “any socially […]