Chinese regulators have tightened restrictions that ban financial institutions and payment companies from providing services related to cryptocurrency, marking a fresh crackdown on digital coins. Many of the new rules expand on previous restrictions aimed at cryptocurrencies and close loopholes that had allowed some finance and payment firms to continue in the trade. WHAT ARE…
The rout for the largest cryptocurrency continued on Wednesday, with Bitcoin erasing all of its gains since Tesla Inc.’s Feb. 8 announcement that it would use corporate cash to buy the asset and accept it as a form of payment for its vehicles — only for founder Elon Musk to reverse course. The digital token…
Bitcoin tumbled below the $40,000 mark on Wednesday to a 3-1/2 month low as selling in digital coins intensified after China banned financial and payment institutions from providing cryptocurrency services. Bitcoin, the biggest and best-known cryptocurrency, had already been under pressure from a series of tweets from Tesla boss Elon Musk, but the news from…
Bitcoin’s smaller rivals are eroding its share of the $2 trillion digital currency market. Of the dozens snapping at its heels, most have little use beyond financial trading – but few of the investors fuelling their rise seem bothered. Among the major “altcoins” – as all cryptocurrencies aside from bitcoin are known – some such…
Over the last six months, consumers have lost over $2 million in cryptocurrency to scammers impersonating Tesla and SpaceX CEO Elon Musk, according to the Federal Trade Commission (FTC). For years, scammers have posed as Musk to fraud social media users out of cryptocurrency, The Verge reported. They use deceptive tactics on sites like Twitter,…
Going ‘long bitcoin’ is the most crowded trade with 43 per cent of the fund managers surveyed in May by BofA Securities agreeing to this; followed by going long on technology, long ESG, and shorting US treasuries. However, 75 per cent of those surveyed suggest bitcoin is in a bubble zone. An overall total of…
Cyber-security researchers have identified a stash of 167 counterfeit Android and iOS apps being used by hackers to steal money from people who believe they have installed a financial trading, banking or cryptocurrency app from a trusted organisation. Researchers at cyber-security firm Sophos investigated the fake apps and found that many were very similar. The…
Bitcoin rallied from three-month low on Monday in a volatile session that saw investors initially selling and then buying cryptocurrencies in the wake of Tesla boss Elon Musk’s tweets about the carmaker’s Bitcoin holdings. In his latest tweet, Musk said “Tesla has not sold any bitcoin”. That seeming clarification came after his weekend tweets that…
(Changes “carmarker” to “carmaker” in paragraph 1) SINGAPORE (Reuters) – Bitcoin dropped to a three-month low on Monday as investors sold cryptocurrencies in the wake of Tesla boss Elon Musk’s hinting over the weekend that the carmaker is considering or may have already sold some of its bitcoin holdings. Musk has boosted crypto markets with…
Colonial Pipeline paid nearly $5 million to Eastern European hackers on Friday, contradicting reports earlier this week that the company had no intention of paying an extortion fee to help restore the country’s largest fuel pipeline, according to two people familiar with the transaction. The company paid the hefty ransom in difficult-to-trace cryptocurrency within hours…
