Tag: currency

Japan firm says $32 mn missing in cryptocurrency hack

  TOKYO, Japan (AFP) — A Tokyo-based cryptocurrency exchange said Friday it had halted all services after losing cryptocurrency worth more than $32 million in the latest apparent hack involving virtual money. Remixpoint said its subsidiary BITPoint Japan discovered overnight that about 3.5 billion yen ($32.3 million) in various digital currencies had gone missing from its management. The apparent hack was discovered after an error appeared in the firm’s outgoing funds transfer system on Thursday […]

Continue Reading →

Virtual Facebook currency faces real-world resistance

  by Jitendra JOSHI and Vishal MANVE in Mumbai Agence France Presse LONDON, United Kingdom (AFP) — If Facebook’s new cryptocurrency should resonate anywhere it should be India, where the social media giant has more than 300 million followers. Many Indians are shut out of banking and face punitive fees for simple transactions, like transferring money to their loved ones. But in India as elsewhere, the US company’s ambitions to remake global finance through its […]

Continue Reading →

With ‘Libra,’ Facebook takes on the world of cryptocurrency

by Glenn Chapman Agence France Presse SAN FRANCISCO, United States (AFP) — Facebook is leaping into the world of cryptocurrency with its own digital money, designed to let people save, send or spend money as easily as firing off text messages. “Libra” — described as “a new global currency” — was unveiled Tuesday in a new initiative in payments for the world’s biggest social network with the potential to bring crypto-money out of the shadows […]

Continue Reading →

At 20, euro is currency giant on fragile footing

by Jean-Philippe LACOUR Agence France Presse FRANKFURT AM MAIN, Germany (AFP) — The euro turns 20 on Tuesday, marking two tumultuous decades that saw the single currency survive a make-or-break crisis and become a fixture in financial markets and Europeans’ wallets. But it is destined to remain a fragile giant without closer eurozone integration, observers say. Born on January 1, 1999, the euro initially existed only as a virtual currency used in accounting and financial […]

Continue Reading →

Bitcoin falls below $5,000 for first time since 2017

by Dmitry ZAKS Agence France Presse LONDON, United Kingdom (AFP) —  The value of bitcoin slipped Monday below $5,000 (4,366 euros) for the first time since October 2017 as a broad selloff gathered steam on the opaque cryptocurrency market. Data compiled by the Coinbase digital exchange showed the world’s most popular virtual currency losing 12.5 percent of its value from Friday evening to stand at $4,914.21 by 1930 GMT Monday. The rout began on Wednesday […]

Continue Reading →

US Treasury chief warns China against currency devaluations

  WASHINGTON, United States (AFP) — US Treasury Secretary Steven Mnuchin warned China on Wednesday against engaging in competitive currency devaluations as the two countries wage a trade war, in comments published in the Financial Times. There are several factors behind the recent fall in the Chinese yuan, or renminbi (RMB), including economic issues in China, Mnuchin he told the newspaper ahead of meetings in Bali, Indonesia of the IMF, World Bank and G20. “As […]

Continue Reading →

$60 million in virtual currency hacked in Japan

TOKYO, Japan (AFP) — Digital currency worth around 6.7 billion yen ($60 million) has been stolen in Japan following a hacking attack, a virtual exchange operator said on Thursday. Osaka-based Tech Bureau, which operates virtual currency exchange Zaif, said its server had been illegally accessed and money transfered. “We decline to comment on the details of how this illegal access occurred, as it is a crime and we’ve already asked the authorities to investigate,” Tech […]

Continue Reading →

Putin says Russia and China to reduce use of dollar in trade

VLADIVOSTOK, Russia (AFP) — Russian President Vladimir Putin on Tuesday said Moscow and Beijing plan to use their own national currencies more often in trade deals as Russia’s relations with the West deteriorate. “The Russian and Chinese sides confirmed their interest in using national currencies more actively in reciprocal payments,” Putin told journalists during a press briefing with Chinese Leader Xi Jinping after talks at an economic forum in the far eastern Russian city of […]

Continue Reading →

Australia mints its most valuable coin ever

SYDNEY, Australia (AFP) — Australia has minted a gold coin encrusted with rare pink diamonds worth Aus$2.48 million (US$1.8 million) to meet growing demand for high-end collectables from the ultra-rich. The two-kilogramme treasure, which depicts a sailing ship, a gold prospector and boab trees found in Western Australia, is considered legal tender and will be sold to the highest bidder. It is the most valuable coin ever made in Australia and is expected to be […]

Continue Reading →

Facebook bans ads for cryptocurrencies

WASHINGTON, United States (AFP) — Facebook says it is banning all ads related to cryptocurrencies in an effort to fight scams. The social media giant said it is barring ads for “financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings and cryptocurrency.” Initial coin offerings or ICOs are a way for companies to raise funds by selling investors cryptographic assets. Fraud is common in the world […]

Continue Reading →

Popular Line messaging app starts crypto trading spinoff

TOKYO, Japan (AFP) — Japan’s biggest messaging app Line said Wednesday it was launching a financial services spinoff to allow users to exchange and trade virtual currencies. Line said its new business would “provide a variety of financial services, including a place to exchange and transact virtual currencies, loans, and insurance.” The transactions will be made inside the messaging app, which already incorporates a mobile payment system. Line has a relatively small presence in the US and Europe, […]

Continue Reading →

Bitcoin shouldn’t become the new Swiss bank account: Mnuchin

WASHINGTON, United States (AFP) — Dominant digital currency bitcoin should not be allowed to become the Swiss bank account of the modern era used to hide illicit activity, Treasury Secretary Steven Mnuchin said Friday. Mnuchin pledged to work with other governments, including within the Group of 20, which includes the world’s major economies, to monitor the activity of those who invest heavily in the cryptocurrency. “One of the things we will be working with the G20 on is […]

Continue Reading →
1 2 3