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Two Arrested in Connection to 2016 Bitfinex Hack
Here’s an interesting turn of events; two computer programmers, brothers Eli and Assaf Gigi, have been arrested in Jerusalem in connection to one of the world’s largest and most prominent cryptocurrency hacks: the now billion-dollar 2016 Bitfinex hack. The duo, according to Finance Magnates, were long suspected of “systematic” cryptocurrency theft and were arrested during a raid. Eli Gigi, the
NexChange Interview Series: Didi Taihuttu - the Family Who Bet It All on Bitcoin!
In this installment of the NexChange Interview Series, NexChange’s Olga Yaroshevsky chats with the Bitcoin Family’s Didi Taihuttu onboard the CoinsBank Blockchain Cruise. Taihuttu and his family sold all their belongings – house, cars, motorcycles, and clothes – two and half years ago to bet it all on bitcoin. They’ve been traveling ever since, enjoying life and educating people “on
Bitcoin Price Drops $1,700 In Minutes After Coinbase’s Website Crashed
MichaelWuensch / Pixabay The bitcoin price plunged as much as $1,700 in just 15 minutes after crypto exchange Coinbase’s website crashed on Wednesday afternoon. This massive drop comes after the bitcoin price hit a 17-month high of over $13,700 on Tuesday. After Coinbase’s website crashed, it showed this message: “An error has occurred. We’ve been notified about the issue and
Bitcoin Cheerleader Less Cheery After Potentially Causing Market Crash
Galaxy Digital founder Michael Novogratz did not have a great day. Financial Review: …Thursday's reversal prompted one of bitcoin's biggest proponents, Mike Novogratz, to lament on not having taken more money off the table before the coin lost nearly all its gains. That may have contributed to its swift demise, according to John Spallanzani, portfolio manager at Miller Value Partners.
Accountancy Giant PwC Adds Crypto Auditing to Its List of Services
PwC, the Big Four accounting firm, can now audit crypto companies, writes Bloomberg: Teams across PwC spent the past year designing tools that could match the private keys and public addresses assigned to crypto asset accounts, Ralph Weinberger, head of PwC's Global Assurance Methodology, Learning and Education Organization, said by phone. The auditor's tools can't access the unique alphanumeric security
Fintechs And Financial Institutions: The Case For Collaboration
Fintech firms and financial institutions are often viewed as rivals. Fintechs are spawning innovations that allow users to bypass traditional banks, especially in emerging markets where branch banking is inconvenient. Rather than spend hours traveling to a branch and even more time standing in line, digital innovation makes banking possible by downloading a smartphone app or keying in a USSD code.
Virtual Banks a ‘Major Threat’ to HSBC’s Dominance in Hong Kong
Hong Kong’s most dominant bank may have some tough times ahead. According to the Financial Times, HSBC’s supremacy in Hong Kong could soon be put to the test, thanks to the former colony’s eight upcoming virtual banks. Analysts say that while there’s very little chance the bank would lose significant deposits to the upstarts, it’s profit margins are a different
Xero Aggressively Targets Underpenetrated Cloud Accounting Market
FinTech
Cloud adoption has become one of the most noticeable shifts in business in recent years, but accounting has lagged its peers in following the trend. About The Company The Wellington, New Zealand-based Xero XROLF is helping pioneer the cloud accounting revolution, which is changing the way small businesses operate. Read more at Benzinga. Photo: David Terrar
Facebook Libra vs Bitcoin: How Do The Two Cryptocurrencies Differ?
MichaelWuensch / Pixabay After more than a year of rumors and speculation, Facebook has launched its own cryptocurrency Libra. Facebook Libra is backed by a bunch of other corporations including Visa, PayPal, Spotify, eBay, Uber, MasterCard, and others. It’s a clear indication that these companies would accept Libra as payment on their platforms. Bitcoin, a popular cryptocurrency, has been trying
Ripple CEO Brad Garlinghouse Is Bullish on Bitcoin
In an interesting display of trading acumen, Bitcoin critic and Ripple CEO Brad Garlinghouse has declared that he is now long Bitcoin. Forbes: "I don't think that there will be one crypto to rule them all," Garlinghouse said, speaking at the Fortune Brainstorm Finance 2019 conference. "I own bitcoin and am long bitcoin." "I think bitcoin is a store of value and