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'Hilariously Rich' No More: The New York Times Talks to Crypto Investors Who've Gone Broke
In early January, the New York Times published a feature story about a community of crypto investors in San Francisco - "developers, libertarians, Redditors and cypherpunks" - who were becoming wealthy just as Bitcoin and other cryptocurrencies were hitting record highs. The Times' headlined its story: Everyone is Getting Hilariously Rich and You're Not. "There are only a few winners
Report: 'Bitcoin Jesus' Has Been Forsaken
About a year ago Bitcoin reached a truce to end what had become a civil war between two factions of digital currency developers who had split on the issue of scaling the coin: There were those who wanted Bitcoin to be more of a commodity, like gold, with a limited supply that can accrue value; and those who wanted Bitcoin
What Wall Street Thinks of Nvidia's Q2 Earnings
NVIDIA Corporation (NASDAQ: NVDA) stock fell 5 percent Friday after the company missed market expectations with its third-quarter guidance. Several Wall Street analysts weighed in on Nvidia stock following the earnings report. Here’s a rundown of what they had to say. Cryptocurrency Noise Bank of America analyst Vivek Arya said cryptocurrency noise is now gone and investors can look forward
Investor Sues AT&T For $224M Over Cryptocurrency Theft
An investor from California has filed a $224-million lawsuit against AT&T, alleging the company was negligent in allowing hackers to steal about $24 million worth of cryptocurrency from him, as CNBC reports. The complaint, filed by Michael Terpin in the U.S. District Court in Los Angeles, accused the telecommunications behemoth of "willing cooperation with the hacker, gross negligence, violation of
Coinbase Acquires Distributed Systems, Boosting its Efforts on Digital Identity
Coinbase has taken a significant step toward building on its blockchain-based identity security efforts by acquiring Distributed Systems, a five-person strong San Francisco-based startup, which has been developing an open identity standard for decentralized apps, or dApps. According to TechCrunch, three of Distributed Systems' team members will work with Coinbase's Toshi decentralized mobile browser team, while CEO Nikhil Srinivasan and co-founder
Ripple Wants to Bring its Blockchain-Based Payments to China
An executive for Ripple tells CNBC that the company wants to bring its blockchain-based payments technology to China - while also ramping up adoption of its XRP coin. Ripple's blockchain technology is used to accelerate cross-border payments and Jeremy Light, vice president of European Union strategic accounts at Ripple, say that China "is definitely a target" for the company, according
Facebook is Getting Serious About its Secret Blockchain Strategy
Blockchain
Facebook's top-secret blockchain strategy appears to be gaining momentum after David Marcus, who is leading the social media giant's efforts, stepped down from the board of Coinbase less than a year after he joined as one of the $8-billion startup's directors. Marcus' departure from Coinbase was first reported by CoinDesk, which was told by a Coinbase rep that "Marcus' decision
NYSE's Parent Co. Launching a Regulated Global Ecosystem For Bitcoin
In a move that could go a long way toward mainstreaming Bitcoin, the Intercontinental Exchange (ICE) - the parent company of the New York Stock Exchange - announced that it is launching a new company called Bakkt to create an open and regulated, global ecosystem for digital assets. In a press release, ICE said that it is expected to launch
Report: Beijing-Based Crypto Mining Company On Pace to Hit $10B in Revenue For the Year
Forget everything you've heard about the struggles facing the cryptocurrency market - at least for a minute - because it turns out not everyone is struggling. Despite Bitcoin dropping about 60 percent from its record high point in December - with possibly more pain ahead - Bitmain, a crypto mining equipment behemoth in Beijing, is on pace to pull in
A Blockchain Startup Aims to 1-Up the Video Game Crowdfunding Model
In a “State of Industry Panel” discussion at QuoVadis 2016, Jason Della Rocca, co-founder of Execution Labs, an early stage investor in game studios observed that “The barrier to entry is lower than ever, but the barrier to success is higher than ever before.” Many indie game developers are driven by their creative flow and passion; hence, they are not