Yellen damps bitcoin excitement with abuse warning

Yellen damps bitcoin excitement with abuse warning

(ATF) Bitcoin’s day in the sun may be coming to an end. While credit company Mastercard added to the excitement by saying the digicurrency would be added to its network, US Treasury Secretary Janet Yellen dialled down the tone, warniong of an "explosion of risk" from virtual markets At the …

Continue reading

PBoC JV with Swift may signal bid to boost digital yuan's reach

PBoC JV with Swift may signal bid to boost digital yuan's reach

(ATF) The People’s Bank of China (PBoC) has set up a joint venture with SWIFT, the global system for financial messaging and cross-border payments, in a sign that China is exploring global use of the digital version of the yuan - China’s national currency. SWIFT (the Society for Worldwide Interbank …

Continue reading

Digicurrency-loving firms share in Tesla’s bitcoin bet bonanza  

Digicurrency-loving firms share in Tesla’s bitcoin bet bonanza  

Elon Musk’s bitcoin binge has boosted the fortunes of similarly digicurrency-friendly firms. Companies that were already ahead of Tesla in accepting payment in the crypto currency are now benefiting from the publicity generated by his EV firm’s $1.5 billion investment – and that has pushed up the share prices of …

Continue reading

Bitcoin’s volatility the stumbling block to mainstream use 

Bitcoin’s volatility the stumbling block to mainstream use 

Tesla Inc’s groundbreaking announcement that it will allow customers to pay for their electric vehicles with bitcoin soon not only opened the door to the cryptocurrency’s real world use but also sent its value soaring to new highs. Bitcoin was fast approaching the $50,000 mark on Tuesday after Elon Musk-led …

Continue reading

Bitcoin extends record streak in Asia trading; Ethereum hits peak

Bitcoin surges to record on $1.5bn Tesla purchase 

(ATF) Cryptocurrencies continued to their record setting spree after Tesla's $1.5 billion of Bitcoin and following its announcement it may accept it as payment for cars and other products. Bitcoin rose as much as 2.5% to hit a record high of $47,565.86 in Asian trading hours on Tuesday, taking its …

Continue reading

Musk nod sends altcoin Doge soaring

Musk nod sends altcoin Doge soaring

(ATF) Dogecoin has surged after Tesla CEO Elon Musk said he backed the cryptocurrency. The virtual asset soared 50% after the outspoken billionaire tweeted the word “Doge”. "Dogecoin is the people's crypto" he wrote in a follow-up. "No highs, no lows, only Doge,” came next. That was enough to send …

Continue reading

Chinese banks return to popularity after crackdown on fintech firms

Chinese banks return to popularity after crackdown on Internet firms

(ATF) Chinese banks, once in danger of being shoved aside by Internet giants, are enjoying newfound popularity as Beijing cracks down on tech companies and their ventures into finance. More traditional financial institutions in the country hope to reclaim lost business, such as consumer loans, from financial technology (fintech) players …

Continue reading