People are raising hundreds of millions selling digital coins online — it’s either the future of funding or a ‘bubble’

LONDON – Startups around the world are raising hundreds of millions of dollars by issuing new digital coins, a trend that has made people both excited and concerned. Over half a billion dollars has been raised through so-called “Initial Coin Offerings” (ICOs) since the start of the year, according to Richard Kastelein, a partner at the Cryptoassets Design Group, a company that helps launch ICOs. It’s an incredible amount considering that ICOs were unheard of…

"People are raising hundreds of millions selling digital coins online — it’s either the future of funding or a ‘bubble’"

One of the world’s biggest bitcoin exchanges has been hacked

One of the largest bitcoin exchanges in the world has been hacked, and 30,000 customers’ data has been compromised, according to a report from Yonhap News. Bithumb is based in South Korea, and the country’s watchdog Internet and Security Agency is investigating after some customers said they lost money in the attack. Bithumb did not immediately respond to Business Insider’s request for comment, though it says users’ passwords were not stolen, according to Yonhap News.…

"One of the world’s biggest bitcoin exchanges has been hacked"

Bitcoin donations to a $16 billion charitable fund are soaring

Bitcoin is red hot these days. The price of the cryptocurrency is up about 140% since the beginning of this year. And now it looks like bitcoin’s popularity among the charitable is also on the rise.  According to the recently released Fidelity Charitable 2017 Giving Report, donations made in bitcoin to Fidelity Charitable, a $ 16 billion donor-advised philanthropic fund, grew to about $ 9 million in the first half of 2017. That’s about $ 2…

"Bitcoin donations to a $16 billion charitable fund are soaring"

Bitcoin’s ‘bubble’ is unlike anything we’ve ever seen

There are still some question marks about whether bitcoin is in a bubble. But the speed of its price growth is already nearly unmatched. The cryptocurrency has surged 162% in very volatile trading this year amid continued demand. But as the chart below illustrates, bitcoin’s longer-term rally by as much as 1,000% was swifter than homebuilder stocks in the lead up to the housing crash.  Jeffrey Kleintop, the chief global investment strategist at Charles Schwab, said that “the…

"Bitcoin’s ‘bubble’ is unlike anything we’ve ever seen"

A Wall Street bank is betting Nvidia will win the cryptocurrency battle (NVDA, AMD)

Nvidia and AMD are in a war. The two companies both produce graphics cards and compete over PC gamers, self-driving car manufacturers and data center managers to prove that their technology is superior. Nvidia tends to be ahead in many of those markets and has seen its stock rise more this year because of it. A new market is emerging though. The two graphics processing unit (GPU) companies are currently fighting over the cryptocurrency GPU market,…

"A Wall Street bank is betting Nvidia will win the cryptocurrency battle (NVDA, AMD)"

Victims of the global cyberattack have paid $9,000 so far but can’t get their files back

Victims of the ongoing Petya cyberattack have paid £7,064 ($ 9,000) in Bitcoin to hackers so far to try and get their files back — but they won’t have much luck. The cyberattack broke out on Tuesday, impacting the Ukrainian government and banks, then spreading to a Russian oil company, advertising firm WPP, and other companies around the world. The attack takes the form of ransomware, malicious software that encrypts a user’s files, then demands a…

"Victims of the global cyberattack have paid $9,000 so far but can’t get their files back"

Ethereum Drops 24%, Bitcoin Loses, Too, Amid Cryptocurrency Selloff

Cryptocurrencies led by bitcoin and ether were falling across the board on Monday as a massive run-up this spring has spurred some profit taking. The most prominent drop came in ether, the digital currency used on the Ethereum network that is still reeling from trading problems last week. Ether fell 24% Monday to $ 231, and has now lost 41% of its value from its peak June 14, according to data from Coindesk. Meanwhile, bitcoin…

"Ethereum Drops 24%, Bitcoin Loses, Too, Amid Cryptocurrency Selloff"

Bitcoin is tumbling

It’s a rough start to the week for bitcoin. The cryptocurrency trades down 10.11% on Monday, at $ 2,275 a coin, a one-week low. The action seems to be a continuation of the selling that developed on Wednesday, when rival Ethereum flash-crashed from $ 296 to 10 cents before recovering its losses. Bitcoin is down about 16.6% since Wednesday’s opening print. The recent weakness in bitcoin follows a run-up of more than 200% to start…

"Bitcoin is tumbling"

A petition on Change.org is calling on Amazon to accept bitcoin ‘ASAP’ (AMZN)

Bitcoin has been soaring to new heights, and now folks on Change.org are calling on e-commerce juggernaut Amazon to accept the cryptocurrency as payment “ASAP.” Since March 23, bitcoin has increased 159%, from a little over $ 1,000 to $ 2,700. At least 2,100 petitioners on Change.org want Amazon to join companies such as Microsoft and Overstock in accepting bitcoin as a form of payment. They also want the company to accept Litecoin, another cryptocurrency. The petition cites the following reasons…

"A petition on Change.org is calling on Amazon to accept bitcoin ‘ASAP’ (AMZN)"

Blockchain raises $40 million from Lakestar and Google’s venture arm

LONDON — Bitcoin and blockchain technology company Blockchain has raised $ 40 million (£31.5 million) in its second round of institutional funding. European venture capital fund Lakestar and GV, Google’s venture capital arm, both led the round. Nokota Management and Digital Currency Group also took part in the investment, as did Blockchain’s existing investors Lightspeed Venture Partners, Mosaic Venture Partners, Prudence Holdings, Virgin, and Sir Richard Branson. The Series B funding takes the total raised by Blockchain to…

"Blockchain raises $40 million from Lakestar and Google’s venture arm"