Hedge fund mogul Jim Chanos claimed Bitcoin was “masquerading as a technological breakthrough” in a new interview with Bloomberg June 4. Chanos said that in the event of a global crisis, it would be “better” to own food, or a government-backed (fiat) currency. Speaking to the Institute for New Economic Thinking and quoted by various media outlets, Chanos, who last year stated he “didn’t understand” Bitcoin or blockchain technology, issued stark warnings about cryptocurrency investment. “We’re now nine years into this bull market, same as the ’90s, so I suspect that now things are starting to percolate,” he told Bloomberg. …
Businessman and crypto advocate John McAfee is releasing his own “fiat” currency backed by cryptocurrency, the McAfee Redemption Unit (MRU), on June 25, according to his tweet from yesterday, May 29. No hoax. The "McAfee Redemption Unit" is real and coming in 26 days. The graphic is low res - don't want to give much away yet. Printed on currency paper, holographs on both sides, serialized, linked to the blockchain, redeemable, convertible, collectiblehttps://t.co/ySUwkDuW7s pic.twitter.com/75xTje39X8 — John McAfee (@officialmcafee) May 29, 2018 McAfee — of McAfee Antivirus Software — had originally tweeted about his own currency on May 28, including a …
UK trading platform LMAX has announced its entrance into the cryptocurrency market, launching an exchange targeting institutional investors, Financial Times reports today, May 21. LMAX, which has offered fiat currency trading since its inception in 2010, plans to cement the legitimacy of the cryptocurrency arena as institutional interest continues to grow. “We are furthering the legitimization of the crypto currency [sic] market by offering institutions a platform on which to acquire, trade and hold crypto currencies securely with high quality, deep liquidity,” CEO David Mercer said in a statement quoted by various media outlets. “The rise of institutional trading of …
American venture capital investor and Blockchain industry influencer Tim Draper claimed that Bitcoin (BTC) is “bigger than the internet,” and several other major developments in human history, during the Intelligence Squared US debate in New York City this Saturday, CNBC reported today April 23. During the debate – which Draper undertook alongside Overstock CEO and Bitcoin bull Patrick Byrne and against two crypto skeptics – the billionaire investor compared Bitcoin, and evidently Blockchain in general, to his early investments in Tesla, Hotmail, and Skype. He went further by stating that Bitcoin would be “bigger than all of those combined,” and …
Banking group Santander will be partnering with Ripple to release an international money transfer app using Ripple’s Blockchain xCurrent and RippleNet platforms, Business Insider reports today, March 24. When speaking about the upcoming app release at the International Fintech conference in London yesterday, March 23, Nathan Bostock, the UK CEO of Santander said: “This spring, if not [sic] one beats us to it, we will be the first large retail bank to carry out cross-border payments at scale with Blockchain technology.” At the end of January of this year, Ana Botin, the CEO of Santander, had mentioned the app launch …
A study by Yandex, a multinational corporation for Internet services, showed that Kazakhstanis have been searching for a variety cryptocurrency-related terms in frequency and amount several times higher this year as compared to 2017, local news outlet zakon.kz reported March 2. The study shows that the increase in interest began in June of last year and rose in September, with Kazakhstanis asking Yandex more questions like “what is Bitcoin/Blockchain/ICO/mining?” The study notes that “what is Bitcoin” was asked the most in December 2017, when Bitcoin’s price hit $20,000. Other search queries popular in Kazakhstan include, “can students work with Bitcoin?” …
Inconsistent policies surrounding fiat currencies in Nigeria has caused panic, and given rise to an unclear future for investors as the Central Bank of Nigeria struggles to stabilize the Naira. Could this be a perfect opportunity for Bitcoin and other Cryptocurrency startups to break into the largest market in Africa? Another new policy In a press conference by the governor of the Central Bank of Nigeria, Godwin Emefiele on Monday January 11 2016, he announced that the nation’s apex bank will be stopping the sale of forex to Bureaux De Change operators within the country. Mr. Emefiele also announced that …