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TOKYO, Japan (AFP) — Bitcoin prices plunged about 15 percent in Asian trade Wednesday before recouping some of the losses as investors apparently took fright at news that a South Korean exchange had been hacked. The unit, which hit a record $19,500 at the start of the week, took a hit as it emerged that South Korean exchange Youbit had been hacked, leading the firm to say it will close and start bankruptcy proceedings, according to Bloomberg […]
NEW YORK, United States (AFP) — The US Securities Exchange Commission on Tuesday suspended trading of a popular bitcoin related stock that has soared in recent weeks, citing concerns about market manipulation. The Crypto Company’s share price had risen an eye-watering 1,700 percent, from $3.30 to $575 between the end of September and Monday evening before the SEC intervened to halt trades until January 4. A statement cited “concerns regarding the accuracy and adequacy of […]
TOKYO, Japan (AFP) — A Japanese company will start paying part of its employees’ salaries in Bitcoin, as it aims to get better understanding of the virtual currency, a spokeswoman said on Friday. GMO Internet, which operates a range of web-related businesses including finance, online advertising and internet infrastructure, will start paying up to 100,000 yen ($890) monthly by Bitcoin to its employees in Japan from February next year. “Employees can receive salaries by Bitcoin […]
NEW YORK, United States (AFP) — Bitcoin experienced some big swings but finished higher in its debut on a major exchange Monday, while a leading US securities regulator warned investors about the risks of cryptocurrencies. Bitcoin futures for January delivery finished at $18,850.00 near 2115 GMT on its first full day of trading, a bit below session peaks but soaring well past the $15,000 initial price when Cboe launched the platform on Sunday night. The […]
by Richard CARTER Agence France-Presse TOKYO, Japan (AFP) — Virtual currency Bitcoin — or “digital gold” to its fans — has enjoyed a gravity-defying rise along with wild price swings, sparking fears it could be the latest financial market “bubble.” Bitcoin was worth just a few US cents when it began life in 2009 and last week changed hands for a staggering $17,000 despite having no central bank backing and no legal exchange rate. Here […]
NEW YORK, United States (AFP) — Cryptocurrency Bitcoin made its debut on a major bourse Sunday, opening at $15,000 per unit at the Chicago board options exchange. Around 23:20 GMT, the price of the currency had risen to $15,940 dollars on a futures contract scheduled for settlement on January 17 according to data provided by the Chicago board options exchange (Cboe). A futures contract is a financial product that allows investors to bet on whether the […]
LONDON, United Kingdom (AFP) — Bitcoin flirted with $17,000 on Thursday, triggering a warning the cryptocurrency was “like a charging train with no brakes” and prompting fresh concern about its looming launch on mainstream markets. Still under $14,000 in Asian trading hours, it smashed through $15,000 in European trading and then later surged to $16,777.08 around 1630 GMT, according to Bloomberg data. The rally came just a day after the virtual currency, which has been […]
SINGAPORE, Singapore (AFP) — Bitcoin hit a fresh record of $14,000 Thursday as investors piled in, triggering a warning the cryptocurrency was “like a charging train with no brakes” which would inevitably slip back. It touched a new a high of $14,400 in Asian trade before slipping back to $13,900, according to Bloomberg News. The rally came just a day after the virtual currency, which has been used to buy everything , hit the $12,000 […]
SINGAPORE, Singapore (AFP) — Bitcoin smashed through the $12,000 barrier for the first time Wednesday, extending the virtual currency’s stratospheric rise to new records as it gears up to take its place on mainstream markets. The controversial cryptocurrency, which has been used to buy everything from a pizza to manicures, touched a new high of $12,590 in Asian trade before dipping back to $12,567, according to Bloomberg News. Bitcoin — which came into being in […]
NEW YORK, United States (AFP) — A US regulator cleared the way Friday for bitcoin futures to trade on major exchanges, but warned investors the digital currency is prone to elevated risk and volatility. The decision opens the door for the Chicago Mercantile Exchange and CBOE Futures Exchange to offer contracts for futures of the virtual currency, rather than trading the actual currency. The deal with the Commodities and Futures Trading Commission agency also enables […]
WASHINGTON, United States (AFP) — Digital currencies like bitcoin could pose a threat to financial stability as they gain wider use, a chief Federal Reserve banking oversight official said Thursday. The remarks from newly-installed Fed Vice Chairman for Supervision Randal Quarles came as bitcoin took a vertiginous dive on Thursday after skyrocketing earlier in the week to more than 10 times its value at the start of the year. Bitcoin is increasingly being embraced by Wall Street, […]
NEW YORK, United States (AFP) — A strong US economic growth report lifted the Dow to a fresh record close Wednesday, even as the tech-rich Nasdaq plunged following a sell-off in high-flying technology shares. Meanwhile, bitcoin hogged the headlines after the virtual currency, which is not traded on world markets, smashed its way to historic peaks, racing past $11,000 a day after breaking $10,000 on a wave of feverish speculation as institutional investors looked to […]
