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UBS Economist: Cryptocurrencies Are 'Fatally Flawed'
It's often said that you should never kick people when they're down, but does that same general rule of decency apply to cryptocurrencies? Apparently it doesn't, at least if you're UBS Wealth Management's global chief economist Paul Donovan. Even when Bitcoin was soaring toward record highs a year ago this month, Donovan remained skeptical, telling CNBC at the time that
SEC Charges DJ Khaled, Floyd Mayweather Jr. With Illegally Promoting ICOs
The Securities and Exchange Commission charged music producer DJ Khaled (real name Khaled Khaled) and boxing champ Floyd Mayweather Jr. with failing to disclose payments they received for promoting investments in a series of initial coin offerings (ICOs). Mayweather agreed to pay $300,000 in disgorgement, a $300,000 penalty, and $14,775 in prejudgment interest. Khaled agreed to pay $50,000 in disgorgement,
Playing the Long Game With Cryptocurrencies
Let's get this out of the way right here at the beginning: As we enter the final month of 2018, there is no reason to be optimistic about the prospects of Bitcoin, at least if for some reason you're still holding out hope for a turnaround in 2018. If your confidence in Bitcoin was already shaken by its dreadful performance
Fred Wilson on Crypto Plunge: 'Things Will Get Worse Before They Get Better'
Fred Wilson is a man who knows the peaks and valleys of finance, having been an investor during the boom and bust of the dotcom era in the late '90s and early 2000s. Wilson, co-founder of the New York City-based Union Square Ventures, was also an early investor in Bitcoin. In a blog post published this week, Wilson drew parallels
Bitcoin Lost Nearly a Third of its Value in Seven Days
Bitcoin's dreadful year appears to be coming to a disastrous end: The world's largest cryptocurrency by market value dropped as much as 14 percent on Monday to $3,675 - and lost nearly a third of its value in the past seven days - as it's suffered one of the worst weekly selloffs in its history. Bitcoin has now plunged nearly
Two School Principals in China Were Busted For Mining Ethereum at Work
There's a lot of rules you could be caught breaking at school that will get you into trouble: Passing notes in class, sleeping during class, fighting, cheating on a test, smoking a cigarette in the bathroom, etc. But mining cryptocurrency on a middle school campus has got to be the most 2018 version of breaking school rules that could happen.
Winklevoss Twins Sue Former CEO of BitInstant Over Alleged Bitcoin Theft
Tyler and Cameron Winklevoss have sued Charles Shrem, the former chief executive of BitInstant, claiming that he used part of their 2012 investment to enrich himself, as the New York Times reports. The Winklevoss twins made a $750,000 investment in BitInstant in 2012 - the company was "one of the first prominent Bitcoin businesses in the United States," the Times
The Future of Cryptocurrency: A Chat With Elixxir CEO David Chaum
In the 10 years since "Satoshi Nakamoto" developed bitcoin and created the first blockchain database, companies like Elixxir have further revolutionized and specialized the digital currency's capabilities. With a focus on speed and security, Elixxir has enabled the processing of hundreds of thousands of transactions each second through the convenience of a smartphone app. The Founder CEO and founder, David
Hedge Funds Go All-In on Cryptocurrencies
With roughly two months left in the year - and an eleventh hour rally highly unlikely - it's probably safe to write off 2018 as a terrible year for cryptocurrencies. After soaring to record highs in 2017, the crypto market's losses this year are now reportedly worse than the dot-com crash, with Bloomberg even comparing Bitcoin's struggles to one of
Chart: 11 of the Biggest ICO ROIs of 2018
While 2018 has not exactly been a stellar year for cryptocurrencies - especially when compared to the record-setting highs of 2017 - there are still opportunities to be had in the digital coin space. Buy low, sell high isn't just smart advice for traditional finance, after all. With that in mind, here are the 11 biggest return on investments from