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What the other papers say this morning – 25 October 2013 October 24, 2013 FINANCIAL TIMES Bitcoin backed by top hedgie boss Financial advisers who gathered in New York to hear leaders of the asset management industry impart their best investment ideas for the year ahead were given a surprising tip by one prominent hedge fund manager: Bitcoin. Fortress Investment Group’s Michael Novogratz said it could be used as [...]
Four arrested in Britain over Silk Road trade October 8, 2013 BRITAIN’S new crime body has overseen the arrest of four men suspected of being significant users of Silk Road, the anonymous online marketplace used to buy illegal drugs and criminal services that was shut down by US authorities last week. The new National Crime Agency (NCA) said yesterday the four suspected drug offenders were detained hours [...]
Disruptive technology isn’t a miracle: We can harness its future power now September 15, 2013 THE ASTONISHING rise of firms like Twitter (founded just seven years ago, yet now expected to float for $10bn), is often seen as a grand romantic narrative – an exciting story, difficult to predict. But transformation, disruption, and change should be easier to forecast. The only weapon we need is the deceptively simple power of [...]
Entrepreneurship week comes to London: Four events worth watching November 17, 2013 IT’S GLOBAL Entrepreneurship Week, and this year’s theme (Take a Step Forward) is more timely than usual. Despite record numbers of new startups, UK entrepreneurs still find it more difficult to scale or reach the next stage of their development than their peers in the US. Whatever the reasons (and they are much debated), this [...]
What the other papers say this morning – 3 October 2013 October 2, 2013 FINANCIAL TIMES FBI raid $1bn Silk Road black market US authorities have seized more than $3m worth of Bitcoins after closing down Silk Road, the online marketplace that allegedly allowed more than a billion dollars of illegal drugs and illicit services to be bought using the virtual currency. As part of the raid, the Federal [...]
Spreadex sees rising earnings and revenues August 4, 2013 BETTING group Spreadex has boosted its revenues and profits in the year to May with a series of acquisitions and new online services. Spreadex, set up 13 years ago by former City trader Jonathan Hufford, posted a 24 per cent rise in profits after tax to £11m in the year to the end of May. [...]
What the other papers say this morning – 13 August 2013 August 12, 2013 FINANCIAL TIMES Subpoenas issued over metals probe The US commodities watchdog has subpoenaed companies including Goldman Sachs, JP Morgan Chase and Glencore as it ramps up its probe into the metals warehousing industry. The subpoenas come amid a barrage of criticism in the US of activities in commodity markets. The CFTC requested documents by the [...]
We need new digital currencies to shake up the status quo April 6, 2013 THERE is much to like about what Bitcoin stands for: free-market money, safe from the grabbing hands of a state that cannot wait to debase, devalue and decimate whatever currency it gets its hands on, destroying hard-working savers. For years now, techies of a libertarian bent have been doing their best to devise a workable [...]
E-currencies reach a major milestone November 28, 2012 FOR SOME, Bitcoin is an unregulated rogue currency for pornographers and drug dealers. For others, it is a victory for economic freedom, and a way of protecting business transactions from what they see as the inherent volatility of the banking system. But despite its contentiousness, the controversial e-currency is in rude health. Yesterday it reached [...]
Here are some other successful (and not so successful) internet currencies November 28, 2012 DigiCash started it off but went bust Founded in 1990 by David Chaum, DigiCash was one of the first electronic currencies but was went bust almost a decade later when Mark Twain bank – the only bank that supported the business – decided to withdraw its backing. Mint Chip focuses on small transactions MintChip is [...]