Mystery Shrouds Tether and Its Links to Biggest Bitcoin Exchange

Mystery Shrouds Tether and Its Links to Biggest Bitcoin Exchange

LAGOS (Capital Markets in Africa) – Among the many mysteries at the heart of the cryptocurrency market are these: Does $814 million of a digital token known as tether really exist? And what is tether’s connection to Bitfinex, the world’s biggest bitcoin exchange? This is the state of crypto in late 2017, where questions about the companies behind the currencies are multiplying with the profits. While cryptocurrencies appeal to people who lack faith in governments and banks, the…

Read More

Online Fantasy Games Pay Real Money for Desperate Venezuelans

Online Fantasy Games Pay Real Money for Desperate Venezuelans

LAGOS (Capital Markets in Africa) – They start arriving even before the security shutters at the west Caracas storefront roll up at about 8:30 a.m. For 11 hours a day, they’ll hunch over old-fashioned cathode-ray tube monitors and bang on greasy keyboards in a dim space with a boarded-up window and a blanket of dust. They pause just long enough to smoke cigarettes in the stairwell. And if someone lingers too long, another eager person claims their seat and…

Read More

Bitcoin Heads to Wall Street Whether Regulators Are Ready or Not

Bitcoin Heads to Wall Street Whether Regulators Are Ready or Not

LAGOS (Capital Markets in Africa) – Two U.S. exchanges, including the parent of the venerable Chicago Mercantile Exchange, are racing to embrace bitcoin, dragging federal regulators into a realm skeptics call a fad and fraud. The development shows how some big financial players are moving to co-opt the volatile cryptocurrency and lure more mainstream investors into the market, even before regulators have agreed on just what bitcoin is. CME Group Inc.’s contracts will debut Dec. 18. Cboe…

Read More

Nasdaq Is Said to Plan Bitcoin Futures, Joining Biggest Rivals

Nasdaq Is Said to Plan Bitcoin Futures, Joining Biggest Rivals

LAGOS (Capital Markets in Africa) – Nasdaq Inc. plans to introduce bitcoin futures next year, according to a person familiar with the matter, becoming the third major U.S. exchange to attempt to dive into the red-hot market for cryptocurrencies. The New York-based exchange aims to introduce the products as early as the second quarter, according to the person, who asked not to be named discussing a private matter. The contracts will trade on Nasdaq’s NFX market,…

Read More

Bitcoin Guns for $10,000 as Cryptocurrency Mania Defies Skeptics

Bitcoin Guns for $10,000 as Cryptocurrency Mania Defies Skeptics

  LAGOS (Capital Markets in Africa) – Bitcoin blew past $9,700 just a week after topping $8,000 and approached its closest ever to five figures, gaining mainstream market attention as it defies bubble warnings. The biggest price jump since August consolidated during Japanese trading hours and vaulted the largest cryptocurrency’s value in circulation above the market caps of all but about 30 of the S&P 500 index members. The increase also buoyed its 10-day volatility to…

Read More

Blockchain Gets a Wall Street Win: `We Know the Thing Works Now’

Blockchain Gets a Wall Street Win: `We Know the Thing Works Now’

LAGOS (Capital Markets in Africa) – The prospect of blockchain technology remaking financial services just moved a step closer to reality after banks including Goldman Sachs Group Inc. and JPMorgan Chase & Co. completed a successful six-month test in the $2.8 trillion equity swaps market. The program, managed by blockchain startup Axoni, kept track of the swaps contracts after they were executed, recording things like amendments or termination of the deals, stock splits and dividends, and achieved…

Read More

Bitcoin’s White-Knuckle Ride Continues as It Hurtles Past $8,000

Bitcoin’s White-Knuckle Ride Continues as It Hurtles Past $8,000

LAGOS (Capital Markets in Africa) – Bitcoin’s relentless and volatile rally shows no sign of abating, with the world’s largest cryptocurrency defying growing bubble fears to hit yet another milestone. Bitcoin rose as much as 6.7 percent to a record $8,224 as of 9:27 a.m. in New York. It’s been a tumultuous year for the virtual currency, with three separate slumps of more than 25 percent all giving way to subsequent rallies. “The inflation in…

Read More
1 2 3 4