Earlier this month, the MIT Technology Review posted an article that asked “What the hell is an initial coin offering?” When befuddlement emanates from the Massachusetts Institute of Technology, arguably the world’s foremost grantor of geek cred, you know you are in truly new territory. Here’s what it is: An initial coin offering, or ICO, is a fundraising mechanism based on a “cryptocurrency,” such as bitcoin. An ICO can launch a whole new cryptocurrency (there…"Here’s how the ICO market is creating a new financial subculture"
Bitcoin soared past $ 5,000 for the first time early Thursday morning and it continued to hit to new heights throughout the trading day. The red-hot digital currency, which is up more than 400% this year, blew past $ 5,300 to $ 5,382 just after 12 p.m. ET. Sell-off pressure has since pushed the coin back down below $ 5,300. It is still up near 10% Thursday. The $ 5,000 mark has long been a threshold of high-anticipation…"Bitcoin surges past $5,300 ‘as bulls returned to the market with a vengeance’"
You probably heard that there are newly imposed sanctions against North Korea. But I’m told the nations that put those sanctions in place are worried North Korea is getting around them by using the bitcoin market to get secret financing. And I’m wondering if that’s the reason China, which seems to be on board in… bitcoins | New York Post"Bitcoin market may be financing North Korea after sanctions"
Precipitous declines in prices for bitcoin and Ether in the wake of a potential crackdown on exchanges by Chinese authorities have shaved nearly $ 40 billion off the combined market capitalization of the cryptocurrencies over the past two weeks. The price of a single bitcoin tumbled nearly 8 percent on Thursday to $ 3,565, and has fallen nine… bitcoins | New York Post"Bear market looms over Bitcoin"
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"
The US Justice Department on Thursday said law enforcement would shut down the dark web marketplace AlphaBay, saying it allowed thousands of vendors to sell illegal drugs. AlphaBay mysteriously went offline earlier this month. It was widely considered the biggest online black market for drugs, estimated to host daily transactions totaling hundreds of thousands of… bitcoins | New York Post"Justice Department shuts down dark web ‘drug market’ AlphaBay"
Since its inception in 2008 digital currency Bitcoin has attracted critics who argue it’s inherently risky. The latest push to create an exchange traded fund (ETF) in order to make trading it easier, suggests attitudes to it haven’t changed. But some risks associated with a Bitcoin ETF is just like any other asset that becomes tied to investors and the stock market. The US Securities and Exchange Commission (SEC) has already rejected an application to…"Taking Bitcoin to the stock market won’t do much for its risky image"