Finance & Business

U.S. stocks continue to reel over coronavirus-related fears, and investors are increasingly betting the Federal Reserve will slash interest rates to stabilize the economy and markets. But whether those investors turn to bitcoin (BTC) as a crisis hedge remains to be seen. Such action by the Fed could, in theory, help bitcoin prices since lower
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The U.S. House of Representatives Committee on Small Business is set to discuss the benefits blockchain technology can bring to entrepreneurs. Slated for March 4 at 16:30 UTC, the “Building Blocks of Change: The Benefits of Blockchain Technology for Small Businesses” hearing will explore the ways in which some startups are utilizing blockchain technology to
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The spreading coronavirus sowed a new bout of fear among investors, triggering a stock market sell-off and flight to safe-haven assets like gold and U.S. Treasury bonds, with 47 countries now reporting infections amid widespread reports of travel cancellations, shipment delays and business interruptions. U.S. stocks fell for the sixth straight day, Treasury yields slid
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An Iranian general is reportedly calling for the use of cryptocurrency to evade sanctions. Saeed Muhammad, commander of the Islamic Revolutionary Guard Corps’ “Army of Guardians of the Islamic Revolution” (or Sepâh for short), a branch of the Iranian Armed Forces, said in a speech Wednesday that Iran should look to cryptocurrencies to bolster international
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Crypto prime brokerage service Tagomi is joining the Libra Association, becoming the 22nd member and the second to join since the group was formally founded in October 2019. According to TechCrunch, Tagomi is set to formally announce its intention to join the association later this week. It joins ecommerce platform Shopify, which announced it would
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Today we’re breaking down SIM card attacks in a way even your grandpa can understand, presented in both audio and full-text format. For early access before our regular noon Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica or RSS. In the pantheon of crypto hacks, “SIM jacking” is one of the worst. The hack, which is less a
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Decentralized finance (DeFi) platform Compound is going ahead and decentralizing itself. “My personal belief is that nobody would use bitcoin if it was run by the ‘Bitcoin Corporation,’” Robert Leshner, Compound’s founder, told CoinDesk in a phone call. “Its power comes from the fact that nobody truly controls it.” In that spirit, Compound is launching
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Singapore’s Court of Appeals has ruled against digital currency exchange Quoine on Monday in a landmark case relating to a breach of contract that saw the platform unlawfully reverse seven trades. The Straits Times reports that the case marks the first of its kind in the country’s history regarding a dispute involving cryptocurrency and concludes
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As central bank digital currencies (CBDCs) march into view, a privately-run version of digital fiat is adding a key tech partner. Utility Settlement Coin (USC), the blockchain-based payments system involving commercial and central banks, will be working with ConsenSys-backed startup Adhara, CoinDesk has learned. Adhara was behind Project Khokha, which used enterprise blockchain client Quorum
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A New Jersey lawmaker wants to license crypto exchanges and custodians looking to conduct business in the Garden State. Assemblywoman Yvonne Lopez (D.-19) introduced the Digital Asset and Blockchain Technology Act Friday, putting forth a proposal to license any entity looking to provide digital asset trading, storage, purchase, sales, exchange, borrowing/lending or issuance services. The
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Finance ministers and central bankers from the G20 are pushing for wider adoption of standards that compel cryptocurrency exchanges to disclose user information. Following a summit in the Saudi-Arabian capital Riyadh over the weekend, representatives from G20 financial institutions pressed countries that have not done so already to align themselves with global cryptocurrency standards from
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Byrne Hobart, a CoinDesk columnist, is an investor, consultant and writer in New York. His newsletter, The Diff (diff.substack.com) covers inflection points in finance and technology.  In October, China’s President Xi Jinping said China should “seize the opportunity” to use the blockchain. To cryptocurrency advocates, this is exciting – and confusing. Why would a deeply
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The latest episode of The Simpsons has delved into the complex world of cryptocurrencies, and managed to break the subject down so probably anyone can understand it. Titled “Frinkcoin,” the show listed on Fox on Feb. 24 features “TV’s most beloved scientist” and “The Big Bang Theory” star Jim Parsons as he appears on-screen to
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The best Sundays are for long reads and deep conversations. Earlier this week the Let’s Talk Bitcoin! Show gathered to discuss catalysts and CEOS in the world of blockchain projects, the organizational and organic structures of decentralization and to wonder whether crypto even needs Satoshi-like catalysts now that the fire of blockchain burns bright. On today’s podcast
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CoinDesk reporter Leigh Cuen is joined by Isaiah Jackson, author of “Bitcoin and Black America” and co-founder of KRBE Digital Assets Group, to talk about financial discrimination in the United States and the unique value bitcoin can offer minority communities. According to a survey of 5,126 Americans conducted by Coinbase and Qriously, “Twice as many
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Lending and borrowing cryptocurrencies is becoming an increasingly important sub-sector of crypto finance, one that may end up shaping how the underlying assets themselves are valued and priced in the markets.  While still in its infancy, the growth of crypto lending platforms has given birth to a new type of measuring metric: interest rates, which
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Michael Casey is chief content officer at CoinDesk. The following is part of “The Token Economy,” an essay in Alex Tapscott’s new book “The Financial Services Revolution.” Blockchain technology, and the cryptocurrencies, tokens and other digital assets it has engendered, may be moving us toward a model of programmable money that incorporates an automated internal
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Sweden’s central bank will soon trial a blockchain-based digital currency – but it’s still in its very early stages, at best. Announced Thursday, Sveriges Riksbank’s e-krona pilot is the latest attempt at a central bank digital currency (CBDC) from an institution that for years fretted over basing any such project on distributed ledger technology (DLT).
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Reginald Fowler, an alleged operator behind payment processor Crypto Capital, was charged with wire fraud Friday, on top of existing charges of bank fraud, operation of an unlicensed money transmission business and conspiracy. According to an indictment filed Friday, Fowler allegedly created a scheme to obtain money “by means of false and fraudulent pretenses” and
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Wikipedia co-founder Jimmy Wales said Friday he has not seen a single practical use-case to convince him to integrate cryptocurrencies or blockchain into the platform. Speaking at the CoinGeek Conference in London, Jimmy Wales said cryptocurrencies would not add anything useful to Wikipedia. In fact, he believed it would prove detrimental to its vision and
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Gigi Sohn has spent the last 30 years as a public interest advocate. Her main focus, nowadays? Getting telecommunications giants to take on fiduciary duty. Now that the internet has become “the essential communications tool of the 21st century,” Sohn thinks that broadband connection is a right, not a privilege. This doesn’t mean that she’s
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Nasdaq-listed Riot Blockchain plans to sell its cryptocurrency exchange RiotX while doubling down on its bitcoin mining businesses.  In an announcement on Thursday, the company said it is considering opportunities to divest itself of the limited assets associated with the exchange, launched in early 2018, due to the regulatory environment, security risks and competition from
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Enterprise blockchains, central bank digital currencies, digital collectibles, DeFi and bitcoin. How much do they really have to do with one another? The “crypto” industry is having a hard time fitting everything that’s happening inside that one monolithic term. On this episode, @nlw looks at current news stories from across at least five different categories
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The U.S. arrested an alleged money launderer Tuesday on accusations of using cryptocurrencies and cashier’s checks to obfuscate the origins of funds related to . First noted by George Washington University deputy director of the Program on Extremism Seamus Hughes, the complaint, unsealed Wednesday, charges Pedro Antonio Aquino-Eufracia with conspiracy for allegedly participating in a
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