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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 […]
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 […]
SINGAPORE, Singapore (AFP) — Bitcoin broke above the $10,000 mark for the first time on Wednesday as the virtual currency continued a stratospheric rise that has seen it increase more than tenfold this year. The cryptocurrency surged to a high of $10,059 in early Asian hours, according to Bloomberg News, though the recent surge in the volatile unit has fuelled fears of a bubble. Launched in 2009 as a bit of encrypted software written by someone […]
THE HAGUE, Netherlands (AFP) — A Dutch family has sold virtually all they own, including a business, their home, two cars and a motorbike and invested the takings in bitcoin just as the virtual currency is soaring to new heights. “We are putting everything into bitcoin, we’ve sold everything to invest in this currency,” Didi Taihuttu told AFP. The 39-year-old is currently living in a camping ground with his family, aiming “to put as much […]
BEIJING, China (Reuters) — China does not have any policy to devalue its currency to promote exports, Vice Foreign Minister Zheng Zeguang said on Friday (March 31), ahead of President Xi Jinping’s first meeting with United States President Donald Trump amid tensions over trade. In a briefing, Zheng said China does not seek a trade surplus with the US and that it was willing to work to promote more balanced trade, although he said Washington should […]
CHINA (Reuters) — The currency falling nearly 7 percent against the dollar in 2016, its biggest annual fall since records began more than 20 years ago. Signs that all is not well in the world’s number two economy as it gears up a new wave of challenges in the year ahead. The spiraling yuan has forced China’s Central Bank to dip into its currency reserves, spending more than 1 trillion dollars this year just to […]
