Date
15 July 2018

Alternative investments

  • 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...
  • We have already reached the point where a bitcoin crash could have serious global implications. Photo: Bloomberg

    The bitcoin threat

    - Feb 5, 2018 9:27am
    The extraordinary volatility of bitcoin and other cryptocurrencies has become a threat not just to the international financial system, but also to political order. The blockchain technology upon which cryptocurrencies are based promises a better and...
  • JPMorgan is among the US banks that have barred customers from using their credit cards for purchases of cryptocurrencies. Photo: Bloomberg

    Big US banks ban cryptocurrency purchases on credit cards

    Feb 5, 2018 9:15am
    Three major US banks — JPMorgan Chase, Bank of America and Citigroup — announced Friday that they will no longer allow customers to buy cryptocurrencies using their credit cards. Bloomberg cited a JPMorgan spokeswoman as saying...
  • The Ernst & Young study comes amid a cryptocurrency investing craze, with young companies raising hundreds of millions of dollars online to fund their projects. Photo: Bloomberg

    Over 10% of US$3.7 billion ICO proceeds stolen: Ernst & Young

    Jan 23, 2018 9:05am
    More than 10 percent of funds raised through “initial coin offerings” are lost or stolen in hacker attacks, Reuters reports, citing new research by Ernst & Young. The professional services firm analyzed more than 372 ICOs,...
  • South Korea is a crucial source of global demand for cryptocurrency. Photo: Reuters

    South Korea plans to ban cryptocurrency trading, rattles market

    Jan 11, 2018 4:53pm
    South Korea on Thursday said it plans to ban cryptocurrency trading, sending bitcoin prices plummeting and throwing the virtual coin market into turmoil as the nation’s police and tax authorities raided local exchanges on alleged tax...
  • Bitcoin and other cryptocurrencies are headed for trouble, according to Warren Buffett. Photo: Reuters

    Cryptocurrencies ‘will come to a bad end’, says Buffett

    Jan 11, 2018 9:23am
    Legendary investor Warren Buffett said on Wednesday that he will never invest in cryptocurrencies, and suggested that units such as bitcoin are destined for a crash once the current mania ends. “I can say almost with...

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