Bitcoin, ethereum drop, crypto market cap shrinks roughly $1 trillion

Business 05/20/21, 17:35

Bitcoin and ethereum recorded their biggest one-day plunge since last March on Wednesday, May 19,  with the cryptocurrency market capitalization losing nearly $1 trillion. Cryptocurrency prices plummeted as China restricted financial and payment organizations from providing bitcoin services, according to Reuters. Bitcoin fell to $30,066, its lowest level since late January, when ...

Bitcoin is back over $5,000, but is cryptocurrency really viable?

Business 05/03/19, 16:29

Bitcoin, the volatile digital currency value of which soared to nearly $20,000 per coin in 2017 and soon crashed to a small fraction of that value, has again risen to over $5,000 in past few weeks. Investors and proponents of cryptocurrencies view bitcoin as both the leader and barometer for digital ...

Report: Facebook considering its own bitcoin for payments

Business 05/03/19, 07:15

The Wall Street Journal reports that Facebook plans a cryptocurrency-based payment system that it could launch for billions of users worldwide.The system would use a digital coin similar to bitcoin, but different in that Facebook would aim to keep the coin's value stable. Bitcoin and similar cryptocurrencies have been susceptible ...

Mt Gox Bitcoin exchange’s Karpeles avoids jail time in Japan

Business 03/14/19, 23:10

Mark Karpeles, who headed Mt. Gox, a Tokyo-based bitcoin exchange that went bankrupt after a massive hacking, was found guilty Friday of manipulating electronic data but cleared of embezzlement and breach of trust charges.The Tokyo District Court handed down a prison sentence of two years and six months, suspended for ...

Lawyer: Russian cybercrime suspect on hunger strike

Europe 02/28/19, 09:55

The lawyers for a Russian suspected of bitcoin fraud and wanted by three countries said Thursday that the man's health is deteriorating due to a hunger strike, and criticized the Greek courts for detaining him for more than the maximum 18 months allowed.Lawyer Zoe Konstantopoulou said Alexander Vinnik, 39, has ...

Japan digital currency exchange hacked, losing $60 million

Business 09/20/18, 01:38

Hackers have stolen 6.7 billion yen ($60 million) worth of cryptocurrencies from a Japanese digital currency exchange, the operators said Thursday.Tech Bureau Corp. said a server for its Zaif exchange was hacked for two hours last week, and some digital currencies got unlawfully relayed from what's called a "hot wallet," ...

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