15 October 2018

Alternative investments

  • Bitcoin’s popularity and the emergence of hundreds of other digital coins or tokens have drawn more hackers into the cryptocurrency space. Photo: Bloomberg

    Cryptocurrency theft tops US$900 mln in Jan-Sept: report

    Oct 11, 2018 9:31am
    Cryptocurrency theft through hacking of exchanges and trading platforms totaled US$927 million in the first nine months of this year, an increase of nearly 250 percent from the level seen in 2017, according to a US-based...
  • Securities regulators have intensified their scrutiny of cryptocurrencies, noting that some tokens may be considered securities, which would make their issuance, sale and trading subject to federal laws. Photo: Bloomberg

    Wall Street regulators move against cryptocurrency firms

    Sep 12, 2018 9:06am
    Two Wall Street regulators announced a series of actions, including levying fines, against companies involved with cryptocurrencies, Reuters reports. Cryptocurrencies, like the well-known bitcoin, are virtual tokens that can be used as forms of payments on...
  • Maria Vullo, superintendent of the New York Department of Finance, has announced the state’s first stablecoins approvals. Photo: Bloomberg

    New York state regulator approves dollar-linked digital tokens

    Sep 11, 2018 9:35am
    New York state has approved Gemini Trust Company’s and Paxos Trust Company’s dollar-linked digital currencies, the first stablecoins to get the nod from the region’s regulator, Reuters reports. “These approvals demonstrate that companies can create change...
  • The US SEC has halted trading in crypto-related investment products Bitcoin Tracker One and Ether Tracker One in the United States with immediate effect. Photo: Bloomberg

    US regulator halts trading in two cryptocurrency products

    Sep 10, 2018 9:10am
    The US Securities and Exchange Commission has suspended trading in two investment products that track cryptocurrencies, citing confusion in the markets over whether the products are exchange-traded funds (ETFs), Reuters reports. Trading has been halted in...
  • Bitcoin's plunge came after a sell-off in shares of technology and internet companies spilled over into other risky assets. Photo: Bloomberg

    Bitcoin slips below US$8,000 as investors step away from risk

    Jul 31, 2018 7:13am
    Bitcoin briefly fell below US$8,000 on Monday as investors scaled back their exposure to cryptocurrenices, after a sell-off in shares of technology and internet companies spilled over into other risky assets, Reuters reports. The technology index tumbled...
  • Ethereum has the become the foundation for many initial coin offerings. Photo: Reuters

    Ethereum is top public blockchain, bitcoin No 13 in China index

    May 18, 2018 9:32am
    Ethereum is the top public blockchain in the cryptocurrency space, while that of bitcoin, the original virtual currency, is ranked 13th, according to the Chinese government’s first monthly Global Public Chain Assessment Index, Reuters reports. The...
  • Two of the world’s largest bitcoin plays plan to list on the Hong Kong Stock Exchange as soon as this year with each seeking to raise as much as US$1 billion. Photo: Bloomberg

    Bankers eager to meet Chinese bitcoin miners

    - May 17, 2018 5:14pm
    Investment bankers still have a vivid recollection of that time, about a decade ago, when mainland mining bosses descended on Hong Kong to list their companies on the local stock exchange. The executives looked ill at ease...
  • Jay Clayton, the chairman of the US Securities and Exchange Commission, regards all cryptocurrencies as securities, with the exception of the first mover, Bitcoin, which he considers a commodity. Photo: Reuters, Bloomberg

    Initial coin scams

    - May 11, 2018 3:58pm
    Initial coin offerings have become the most common way to finance cryptocurrency ventures, of which there are now nearly 1,600 and rising. In exchange for your dollars, pounds, euros, or other currency, an ICO issues digital...
  • Big market players are less likely to chase sudden swings in bitcoin’s value, being more interested in the potential of unproven but promising blockchain technology. Photo: AFP

    Bitcoin frenzy settles down as big players muscle into market

    Apr 30, 2018 8:57am
    After keeping investors on the edge of their seats, bitcoin may be maturing into a period of relatively boring stability, experts say. A worldwide wave of regulation has led to a collapse in trading volumes. Cryptocurrency...
  • Cryptocurrencies have been impacted this year by fears of a crackdown from regulators and concerns that they have been in a speculative bubble that is now deflating. Photo: Bloomberg

    Cryptocurrency funds down nearly 30 percent in March

    Apr 19, 2018 9:23am
    Cryptocurrency funds were down 29.2 percent in March amid an ongoing slump caused by increased scrutiny from global regulators of the virtual assets, Reuters reports, citing a new index launched by data provider BarclayHedge. The Barclay...
  • Cryptocurrency billionaires could help fund projects that improve the management of health-care finances. Photo: Bloomberg

    How should the crypto-rich spend their money?

    - Apr 16, 2018 12:20pm
    In February, Forbes published its first-ever list of cryptocurrencies’ richest people. The top ten were each worth around US$1 billion, while the wealthiest – an American blockchain innovator named Chris Larsen – was estimated to be...
  • Coincheck has not given details of how the January theft, one of the biggest ever of digital money, has affected its business. Photo: Reuters

    Japan’s Monex mulls takeover of crypto exchange Coincheck

    Apr 4, 2018 8:40am
    Japanese online brokerage firm Monex Group Inc. said it is considering buying Coincheck Inc., the cryptocurrency exchange hit by a US$530 million theft of digital money earlier this year, Reuters reports. Monex did not provide any...
  • Top officials of cryptocurrency exchange Coincheck bow during a news conference in Tokyo on Thursday. Photo: Reuters

    Japan punishes 7 cryptocurrency exchanges over control lapses

    Mar 8, 2018 4:52pm
    Japan on Thursday punished seven cryptocurrency exchanges, ordering two of them to suspend business, in an effort to shore up consumer protection, Reuters reports. Coincheck Inc., one of those punished, said it plans to reimburse from next...
  • A US court has upheld a determination that cryptocurrencies can be deemed as commodities and be regulated as such. Photo: Reuters

    Virtual currencies are commodities, US judge rules

    Mar 7, 2018 8:51am
    Virtual currencies can be regulated as commodities by the US Commodity Futures Trading Commission (CFTC), a federal judge ruled in New York Tuesday. US District Judge Jack Weinstein in Brooklyn ruled that the CFTC had standing...
  • The US Securities and Exchange Commission is seeking 'clearer and more robust disclosure' by firms facing cyber-security issues. Photo: Bloomberg

    US regulator updates guidance on cyber-risk disclosures

    Feb 22, 2018 9:41am
    The US markets regulator on Wednesday updated guidance to public companies on how and when they should disclose cyber-security risks and breaches, including potential weaknesses that have not yet been targeted by hackers, Reuters reports. In...
  • The inquiry into bitcoin and other virtual currencies will consider whether the government is striking the right balance between protecting customers and businesses without stifling innovation. Photo: AFP

    British lawmakers launch inquiry into cryptocurrencies

    Feb 22, 2018 9:13am
    Britain’s cross-party Treasury Select Committee of lawmakers said it is launching an inquiry into digital currencies, as well as the underlying distributed ledger technology, Reuters reports. The probe will focus on the opportunities and risks posed...
  • News that South Korea’s financial regulator is easing its stance on bitcoin and other cryptocurrencies has given traders confidence to buy, analysts said. Photo: AFP

    Bitcoin nearly doubles in value from year’s low

    Feb 21, 2018 8:48am
    Bitcoin hit a three-week high on Tuesday and has surged nearly 100 percent from its lowest level this year, as its recovery continued after South Korea’s financial regulator eased its stance on cryptocurrencies, Reuters reports. Choe...
  • Lawmakers are concerned that cryptocurrencies could threaten the US economy. Photo: Reuters

    US Congress sets sights on federal cryptocurrency rules

    Feb 20, 2018 8:58am
    US lawmakers are moving to consider new rules that could impose stricter federal oversight on bitcoin and other cryptocurrencies, Reuters reports, citing several top lawmakers. Bipartisan momentum is growing in both houses of Congress for action...
  • J. Christopher Giancarlo, chairman of the Commodity Futures Trading Commission, speaks during a Senate banking committee hearing in Washington DC on Tuesday. The panel is looking into issues related to regulation of virtual currencies. Photo: Bloomberg

    Bitcoin bounces back from three-month low in choppy trade

    Feb 7, 2018 9:31am
    Bitcoin bounced back from three-month lows on Tuesday, moving past US$8,000 at one point during the day before settling below that level in volatile trading. On the Luxembourg-based Bitstamp exchange, the virtual currency hit a high...
  • Bitcoin has lost about half its value so far in 2018, as more governments and banks signal their intention for a regulatory crackdown. Photo: AFP

    Bitcoin extends slide, falls below US$7,000

    Feb 6, 2018 8:36am
    Digital currency bitcoin fell more than 15 percent on Monday to a nearly three-month low amid a slew of concerns ranging from a global regulatory clampdown to a ban on using credit cards to buy bitcoin...

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