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Goldman Sachs: Bitcoin Prices Will Only Get Worse
Haven't Bitcoin investors suffered enough? After hitting its $20,000 high in December, things have gone pretty bad for the world's largest cryptocurrency, with its value now roughly a third of what it was at its peak in 2017. But according to Goldman Sachs' mid-year economic report, things are only going to get worse for Bitcoin. In fact, Goldman included Bitcoin
Largest Crypto Miner to IPO in Hong Kong
FinTech
This week, it was reported that the co-CEO of Bitmain Technologies, the world’s largest cryptocurrency mining company, has revealed plans to conduct an initial public offering in Hong Kong. The IPO would give early investors, including Sequoia Capital and IDG Capital, an opportunity to cash out. Q2 hedge fund letters, conference, scoops etc With the crypto market rapidly changing, Bitmain’s IPO will
Chart: Here’s a Look at How the Crypto Job Market is Surging
As Bitcoin goes, so goes the rest of the cryptocurrency market. And no one needs to be reminded how things are going at the moment. Although cryptocurrencies are in a protracted slump across the board, the cryptocurrency job market is continuing to thrive. To see the pace at which it’s growing – and where the jobs are being added –
How the Bitcoin Pricing Controversy Can Actually Help Cryptocurrencies
FinTech
When the research paper released earlier this summer provided strong evidence that Bitcoin’s price had been artificially manipulated on its way up to record highs last December, it seemed like bad news for Bitcoin and bad news for the cryptocurrency market in general. Written by John M. Griffin, a professor of finance, and Amin Shams, a graduate student at the
Basis Has Raised $133M on its Promise of a ‘Stableoin.’ Should We Buy the Hype?
When you read the white paper for Basis, a crypto startup based in Hoboken, New Jersey, you’ll come across a section that touts its potential to work as a solution in developing nations where people lack access to stable currencies. It notes that “in countries with weak institutions and unstable currencies” there also tends to be “high rates of inflation
How Three of the Biggest VCs Are Building Their Crypto Strategy
When Union Square Ventures (USV) announced in June that it had invested in Multicoin Capital, a “thesis-driven” cryptofund based in Austin, Texas, it was the latest sign that the industry’s biggest venture capitalists are increasingly pouring money into the cryptocurrency space – and arguably embracing the token economy far more aggressively than most segments of the financial services industry. However,
Ford Spins Off Autonomous Vehicle Company, Plans $4B Investment
Ford Motor Company (NYSE: F) is spinning off a separate company to accelerate its self-driving vehicle business, improve related operational fitness and drive profitable growth. What Happened Ford Autonomous Vehicles LLC will soon manage a five-year, $4-billion investment in AVs with a focus on self-driving systems integration, transportation-as-a-service development, fleet management, user experience and business strategy. “The closer alignment of
With 1000 Coins Dead, What Does the Future Hold for Cryptocoins?
FinTech
Initial coin offerings (ICOs) have gained popularity over the last two years. However, 2017 marked the beginning of fast paced growth for the cryptocurrency industry. In this year, bitcoin’s price increased from a low of $1000 to reach a high of $19,000 towards the end of the year. In addition, the industry has experienced an increase in the number of
SEC Rejects Winklevoss Twins' Proposed Bitcoin ETF
The Securities and Exchange Commission announced on Thursday that it has rejected a proposal by Tyler and Cameron Winklevoss to create the first-ever Bitcoin ETF. This was the second attempt by the Winklevoss twins - founders of crypto exchange Gemini - to gain SEC approval for a Bitcoin ETF. After their application for the "Winklevoss Bitcoin Trust" was rejected last
Report: More Than Half of Unlicensed P2P Lenders in Indonesia Are From China
FinTech
While China’s P2P lending industry continues to burn, some of its lenders have been caught misbehaving overseas as well. Here’s The Jakarta Post: The Financial Services Authority (OJK) has discovered that more than 100 unlicensed peer-to-peer lending (P2P) providers in the country had been developed by Chinese firms. The OJK reported its findings on Friday, pointing out that out of