US President Donald Trump has dropped down the rankings of Forbes’ annual rich list for 2018 March 6, 2018 Donald Trump has slipped down Forbes’ annual rich list for 2018 after his fortune dropped by an estimated $400m (£288m) to $3.1bn. The US President has dropped 222 places on the rankings to come in at 766. The top spot is taken by Amazon boss Jeff Bezos, whose fortune has surged to $112bn from an [...]
Bank of England chief Mark Carney says cryptocurrencies are failing as money March 2, 2018 Bank of England governor Mark Carney said cryptocurrencies are failing as a system of money. In a speech to the inaugural Scottish Economics Conference, Carney posed the question: “How well do cryptocurrencies fulfil the roles of money?” In response, the Bank chief said: “The long, charitable answer is that cryptocurrencies act as money, at best, [...]
Bitcoin price (BTC) just climbed above the “critical” $11,000 level March 2, 2018 Bitcoin has climbed back above the “critical” $11,000 level this morning. The cryptocurrency has been trading around the $10,000 mark for the past month with just a few breaks above $11,000. “This is a critical area as traders have failed to break above the $11k mark and we will be watching the price action closely,” [...]
Venezuela is a socialist horror show – time for the British left to admit it February 23, 2018 What do you do if you are a tyrannical leader who has run your country’s economy into the ground, devalued its currency to the point where you can barely afford the paper that banknotes are printed on, and face fierce public and political opposition? If you are President Nicolas Maduro of Venezuela, the answer is [...]
France says bitcoin and other cryptocurrency derivatives come under Mifid II regulation February 22, 2018 Authorities in France are cracking down on cryptocurrencies after deciding cryptocurrency derivatives" fall under EU financial regulation. The French financial markets authority Autorite des Marches Financiers (AMF) said financial products based on bitcoin and other cryptocurrencies such as futures, binary options and contracts for difference, should fall under the European Union's MIFID 2 derivatives regulation. [...]
Petro: Venezuela launches its controversial oil-backed cryptocurrency, the petro February 20, 2018 The Venezuelan government has launched its new cryptocurrency, the petro, as the country struggles amid US sanctions and soaring inflation. Venezuelan President Nicolas Maduro first announced the controversial digital token late last year as a solution to the country’s economic woes, however the US Treasury has warned potential investors that buying the petro could violate [...]
Cryptocurrency founder has a wise head on young shoulders February 20, 2018 As sales pitches go, it’s an unconventional one. In fact it’s more warning than advert, but you can’t argue with the logic behind it. The tweet was as stark as it was short: “Cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near-zero at any time.” So wrote Vitalik Buterin, the [...]
Beware the cryptocurrency hype February 20, 2018 Those who cannot remember the past are condemned to repeat it, as philosopher George Santayana famously wrote. What’s happening in markets today is a stark reminder of the dot-com days at the end of the last millennium, when company valuations rocketed at the mere mention of internet-related buzzwords. Fortunes were made and lost in relative [...]
Here’s how you can avoid getting badly burnt in the cryptocurrency revolution February 20, 2018 Investing in cryptocurrency is not for the faint-hearted – a fact that has become increasingly apparent over recent weeks. After making some impressive gains at the end of last year, nearly all the major digital currencies have since come crashing down, only to gather momentum once again. These violent swings have triggered a fresh surge [...]
Bitcoin price is holding on to gains, hovering around $10,000 February 16, 2018 Bitcoin was holding on to gains this morning, hovering around $9,800 a day after it reached $10,000 for the first time following a spectacular crash in which it lost 70 per cent of value in a matter of weeks. The cryptocurrency rose to $10,000 yesterday, for the first time since the end of January, having [...]