Finance

“Defendants also solicited ‘lifetime’ memberships in a more exclusive trading sector that would provide greater opportunities to profit from virtual currency trading,” the complaint said. “For example, one such opportunity purported to offer profits as much as 300% return on an investment in less than a week.” The domain Cabbage.tech appears for sale at $3,999,
0 Comments
The U.S. Securities and Exchange Commission indicated Thursday it would not be open to approving cryptocurrency exchange-traded funds until concerns related to rules aimed at protecting investors are addressed. “We believe … that there are a number of significant investor protection issues that need to be examined before sponsors begin offering these funds to retail
0 Comments
Despite its recent price whipsaw, bitcoin has gained legitimacy with investors and is here to stay, according to Spencer Bogart, a partner and head of research at Blockchain Capital. Bitcoin has been on a jolting ride this year after soaring more than 1,200 percent in 2017. It rose 30.9 percent Thursday, to top $12,000 after
0 Comments
South Korean policymakers joined the global chorus of virtual-coin critics on Thursday, saying Seoul is considering shutting down domestic virtual currency exchanges as the new breed of market exposes users to speculative frenzy and crime. The country’s tough stance comes as policymakers from the United States to Germany struggle to come up with stricter regulation
0 Comments
Bitcoin and other digital currencies won’t entirely replace traditional currencies like dollars, venture capitalist Joyce Kim told CNBC on Wednesday. The SparkChain Capital co-founder said on “Squawk Box” that she does not believe “the tokens will become the money of the future for every single person for every transaction.” Kim, whose firm invests in blockchain
0 Comments
Bitcoin briefly plunged below $10,000 late Tuesday afternoon on Coinbase, after first topping the psychologically key level in late November. Other major digital currencies also sold off sharply. Digital currency ethereum plunged 30 percent Tuesday, to below $1,000, while ripple fell below $1. In fact, nearly every major cryptocurrency suffered massive losses during the day.
0 Comments
China’s banking regulator chief warned that a “black swan”, or an unforeseen event could threaten the country’s financial stability, official People’s Daily reported on Wednesday. In an interview with the paper, Guo Shuqing said that while risks in the financial system are manageable, they are still “complex and serious.” Since his appointment as the head
0 Comments
Swiss food group Nestle agreed to sell its U.S. confectionery business to Italy’s Ferrero for $2.8 billion, it said on Tuesday, the first major sale from CEO Mark Schneider and a small step on its path towards healthier products. The U.S. unit, home to local, mass-market names BabyRuth, Butterfinger and Crunch, has been underperforming rivals
0 Comments
Stock markets are rallying, central banks are drifting to the exit as low inflation persists and economies are enjoying the benefits of synchronized growth — what could possibly go wrong? Surely 2018 is another so-called “Goldilocks” year for investors — not too hot, not too cold … just right, which means profits for retail investors
0 Comments
Paul Ratje | The Washington Post | Getty Images A HaoBTC bitcoin mine site manager checks mining equipment inside their bitcoin mine near Kongyuxiang, Sichuan, China. China is targeting websites and mobile apps that offer cryptocurrency exchange-like services, it was reported Monday. Beijing plans to block domestic access to Chinese and offshore cryptocurrency platforms that
0 Comments
Ireland says it can help U.K. companies that are concerned about losing the right to sell products into the European Union after Brexit comes into effect. “We’re saying to people, if there are difficulties, Ireland can be part of the solution for passporting,” Michael D’Arcy, minister of state at Ireland’s Department of Finance, told CNBC
0 Comments
China will step up oversight in the banking sector this year to reduce financial risks, the country’s banking regulator said, stressing that long-term efforts would be needed to control banking sector chaos. The China Banking Regulatory Commission (CBRC) said late on Saturday in a statement that its priorities included increasing supervision over shadow banking and
0 Comments
Indonesia’s central bank has issued a fresh warning about trading in cryptocurrencies like bitcoin because of the risk of losses to the public and even a potential threat to the stability of the financial system. Bank Indonesia (BI) has previously said that cryptocurrencies were not recognized as a legal medium of exchange, so that they
0 Comments
Samuel Kemp, Piper Jaffray: “We see this as the right long-term decision.” When people are selling the stock, they’re thinking: “This could lead to reduced Facebook engagement, ad impressions and therefore ad revenue,” according to Kemp. But Facebook still owns Instagram, and that could absorb any ads that don’t find a home on Facebook’s main
0 Comments
Late last year, Morgan Stanley got a tip: Reporters were asking about allegations that a high-profile executive, the former congressman Harold E. Ford Jr., had harassed a female journalist. Morgan Stanley conducted a quick investigation, interviewing the accuser and Mr. Ford, who denied the allegations. According to Morgan Stanley officials briefed on the internal process,
0 Comments
Check out the companies making headlines after the bell Thursday: Advanced Micro Devices shares fell more than 2 percent in the extended session. Just over a week after claiming its chips were at ” near zero” risk for a security flaws impacting Intel chips, the semiconductor company has changed its tune. A Thursday announcement revealed
0 Comments
Daniel Acker | Bloomberg | Getty Images Attendees talk to a company representative in the Eastman Kodak booth at an International Consumer Electronics Show. What do you get when you cross the feverish world of crypto-currencies and a faded industrial icon desperate for a new lease on life? The answer, provided Tuesday by Eastman Kodak,
0 Comments