Goldman Sachs to establish trading desk for cryptocurrencies, including bitcoin
Businessam Staff
December 22, 2017
Goldman Sachs is setting up a trading desk to make markets in digital currencies such as bitcoin, according to people with knowledge of the strategy. According to the report by South China Morning Post, the bank aims to get the business running by the end of June if not earlier, two of the people said. Another […]
Bitcoin boom isn’t over yet as world’s biggest derivatives exchange launches futures
Businessam StaffDecember 18, 2017
CME Group Inc, the world’s largest derivatives exchange operator, began trading bitcoin futures on Sunday, with the contract opening at what is currently its session high and dropping over 6 percent within the first half hour. The CME bitcoin front-month futures opened at $20,650 and have so far traded as low as $19,290 and as […]
Bitcoin, other virtual currency trading thrive where authorities frown against most
Businessam StaffDecember 14, 2017
Bitcoin trading expanded faster this year in emerging markets than developed ones — and quickest of all in places where authorities tried to crack down. Somewhere, Satoshi Nakamoto is smiling. After all, avoiding bank and government oversight, and sidestepping the eroding effects of inflation, was what Nakamoto had in mind when he (or she, or […]
ICO funding rises above $4bn as US regulators crack down
BusinessInsiderDecember 14, 2017
The initial coin offering market has surged over $4 billion, according to new data from Autonomous NEXT. Regulators are increasing their oversight over the red-hot space as the market continues to attract traditional Wall Street firms. The red-hot market for cryptocurrency fundraising continues to reach new heights even as US regulators intensify their oversight of […]
Bitcoin plunges 15% in wild trading after hitting new record
Businessam StaffDecember 8, 2017
Bitcoin tumbled more than 15 percent in volatile Asian trading Friday, dropping below $14,500 level after touching a record high above $16,000 earlier in the session and underlining concerns about its volatility. It was still up more than 30 percent for the week, as investors debated about whether the cryptocurrency was in a bubble that was […]
Sterling to coast, but Brexit talks progress would drive rally, poll shows
Businessam StaffDecember 7, 2017
Sterling’s outlook is stable over the coming year, but a few currency strategists polled by Reuters expect it to make significant gains if negotiations over Britain’s departure from the European Union take a positive turn. Forecasts from the poll of around 60 foreign exchange specialists, taken Dec 4-6, predict the pound GBP= will be worth […]
Bitcoin to end the year at $10,000, says Hedge fund manager
Businessam StaffNovember 21, 2017
Hedge fund manager Mike Novogratz, who is starting a $500 million fund to invest in cryptocurrencies, says the bitcoin rally still has some serious legs. After surging more than sevenfold since December, the largest and most widely known digital currency will end the year at $10,000 from about $8,200, he said. Smaller rival ether will […]
Bitcoin hits new record high, breaking $8,000 for the first time
Businessam StaffNovember 20, 2017
Bitcoin hit a fresh all-time high Monday above the $8,000 mark after a wild week for the cryptocurrency. On Monday around 12:25 p.m. London time, it hit a record high of $8,121.56, according to data from industry website CoinDesk. Bitcoin first broke the $8,000 handle on Sunday. The rally comes on the back of a […]
South Africa’s rand under pressure, stocks set to open flat
Businessam StaffNovember 14, 2017
South Africa’s rand weakened against the dollar early on Tuesday, staying close to a one-year low hit in the previous session, as the resignation of a top Treasury official and financial woes at the sole power utility hurt investor sentiment. According to Reuters’ report, at 0647 GMT, the rand was traded at 14.5100 per dollar, […]
Bitcoin soon to be official currency in Venezuela
Businessam StaffNovember 6, 2017
The Venezuelan government has moved to legalise the use of Bitcoin as an official currency and legal tender in the country. This is aimed at addressing the hyperinflation its economy is facing at the moment. Daniel Osorio, the Chief Executive Officer at Andean Capital Management, explained that Venezuela may be on the verge on dumbing […]