Just as blockchain technology is shaking up the startup space, it’s also revamping the way venture capital firms invest in emerging companies. Over the last year and a half, startups have raised nearly $ 4 billion through initial coin offerings, or ICOs, which are a kind of unregulated fundraising technique involving the creation of new digital tokens, or units of value. Venture capitalists have been wanting a piece of the action. Enter the Simple Agreements…"Here’s what you need to know about SAFTs — the cryptocurrency fundraising craze that’s shaking up venture capital"
Bitcoin crashed more than 25% from Wednesday’s all-time high of $ 7,721 to a low of $ 5,617 on Sunday, according to data from CoinDesk. Over the weekend, bitcoin appeared to give up market share to bitcoin cash, a clone coin created to improve bitcoin’s slower transaction speeds Briefly, bitcoin’s market cap as a percentage of the total cryptocurrency market dipped below 50%. It was trading at $ 6,544, up 10.9% at 9:40 a.m. ET, according to…"Bitcoin retains its crown as crypto king — but issues still hang over the cryptocurrency"
Jamie Dimon has been a vocal critic of bitcoin since its earliest days, but his most recent comments have ignited a conversation about digital currencies on Wall Street. Two of the bankers’ main arguments against the cryptocurrency are that it is in a bubble, and it will ultimately be “crushed” by governments. We spoke with experts in the cryptocurrency space to examine those two critiques. They said bitcoin’s underpinning blockchain technology can’t be easily jeopardized…"We asked cryptocurrency experts to respond to Jamie Dimon’s bitcoin bashings — here’s what they said"
A 29-year-old high school drop out from the United Kingdom is hauling in hundreds of thousands of dollars trading risky cryptocurrency derivatives. Jay Smith believes a cryptocurrency crash is inevitable, but right now he’s the No. 1 trader of digital coins on online brokerage eToro, amassing thousands of followers who are copying his trades, according to Bloomberg’s Edward Robinson. Smith, who lives in a London suburb, makes speculative bets on the prices of cryptocurrencies like bitcoin…"A high-school dropout is making hundreds of thousands of dollars trading cryptocurrency derivatives"
Bitcoin is trading down Tuesday afternoon after one of the most powerful men on Wall Street said the red-hot cryptocurrency is in a bubble worse than any other in history. Jamie Dimon, the CEO of JPMorgan, called bitcoin “a fraud” and “worse than the tulip bulbs” bubble of the 1700s while speaking at the Barclays Financial Services Conference. Bitcoin is down over $ 100 since Dimon made his comments, trading lower by 2% at $ 4,140 a…"Bitcoin slides after Jamie Dimon bashes the cryptocurrency"
Can the bursting of the cryptocurrency bubble be far away? You know a market frenzy has turned surreal when Paris Hilton joins in: The celebrity most famous for being famous took to Twitter Monday to back a new currency called Lydian. But just hours later Chinese regulators put a damper on the fun, issuing a ban on so-called initial coin offerings. ICOs work like IPOs, except that instead of an equity stake in a company,…"In the Cryptocurrency Market, It’s Chinese Regulators vs. Paris Hilton"
Litecoin is riding the cryptocurrency wave. The fifth largest cryptocurrency on the market surpassed $ 80 per coin Friday afternoon, as more well-known digital currencies such as bitcoin and ethereum continue to reach new heights. Litecoin is up 12.98% since yesterday at $ 82.50 per coin. Cryptocurrencies are powered by distributed ledger technology and are not controlled by a centralized authority. The market for these coins and tokens has exploded this year with the total market cap for…"The fifth largest cryptocurrency surges past $80 per coin"
Fidelity is testing out a new service to help make life easier for its clients who invest in cryptocurrencies. The $ 2.3 trillion investor announced on Wednesday a partnership between its Fidelity Labs, the firm’s innovation center, and Coinbase, the cryptocurrency exchange serving nearly 9 million customers. As part of the partnership, Coinbase users will be able to view their bitcoin, ethereum, and litecoin holdings alongside their other accounts in their Fidelity Portfolio. The company told Business Insider it’s not…"Fidelity, the $2.3 trillion investment giant, is testing out a new cryptocurrency service"
This story was delivered to BI Intelligence “Fintech Briefing” subscribers. To learn more and subscribe, please click here. CBOE Holdings, which oversees the Chicago Board Options Exchange, one of the world’s largest options exchanges, has partnered Gemini Trust, a New York-based cryptocurrency exchange backed by the Winklevoss brothers, which deals in assets including Bitcoin and Ether. Under the deal, CBOE will use Gemini’s cryptocurrency market data to create new indices, and eventually, if it receives regulatory permission, to launch cryptocurrency…"US options exchange partners with cryptocurrency player"
AMD released its quarterly earnings after the bell Tuesday and the stock took off. A beat on earnings and revenue, coupled with a higher than expected forecast for the rest of the year, sent AMD’s stock up about 8%. In the earnings call following the company’s release, Lisa Su, CEO of AMD, said something surprising. “Relative to cryptocurrency, we have seen some elevated demand,” Su said. “But it’s important to say we didn’t have cryptocurrency in…"AMD: Cryptocurrency mining won’t be a ‘long-term growth driver’ (AMD)"