Bitcoin price skids after South Korea suggests crackdown

SEOUL, South Korea — Prices of bitcoin and other digital currencies have skidded after South Korea’s top financial policymaker said a crackdown on trading of crypto currencies was still possible. Finance Minister Kim Dong-yeon said Tuesday in an interview with local radio station TBS that banning trading in digital

Why Kodak’s cryptocurrency move is a terrible idea

Let’s say last week may have been a Kodak moment for the company, but for all the wrong reasons. The 130-year-old business was at one time the leading photography company in the world, but it incredibly missed its own industry’s entire digital metamorphosis. Well, now the company is trying

Even the government is getting in on the Bitcoin hype

The US Marshals Service announced Thursday that it will hold an auction next month to dispose of 3,813 bitcoins, worth a cool $52 million at Friday’s price. The coins were seized in “various federal criminal, civil, and administrative cases.” Selling off bitcoin is a routine process for the US Marshals

Even the government is getting in on the Bitcoin hype

The US Marshals Service announced Thursday that it will hold an auction next month to dispose of 3,813 bitcoins, worth a cool $52 million at Friday’s price. The coins were seized in “various federal criminal, civil, and administrative cases.” Selling off bitcoin is a routine process for the US Marshals

North Korean caught secretly mining bitcoin rival

North Korean hackers are secretly mining a cryptocurrency rival to bitcoin as Kim Jong Un aims to cash in on the booming virtual cash economy and skirt the sanctions that are crippling his regime. According to a report, the rogue state is using foreign computers to funnel the cryptocurrency

Wall Street skeptical of Kodak’s stock rally after crypto reveal

Kodak stock is shaking like a Polaroid picture. see also Wall Street gave Eastman Kodak some negative exposure on Thursday as investors bet that a huge two-day rally in the company’s shares would collapse. Kodak shares more than tripled in price over two days — to $10.60 on Wednesday — after

Bitcoin dives on South Korea’s plan to ban cryptocurrency trade

SEOUL – South Korea’s government said on Thursday 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 evasion. The clampdown in South Korea, a crucial source of

MoneyGram’s stock leaps on blockchain partnership

Shares of MoneyGram International jumped 10.5 percent on Thursday, after the money-transfer company said it partnered with blockchain firm and bitcoin rival Ripple. As part of the arrangement, MoneyGram will test the use of Ripple’s cryptocurrency, XRP, to move funds in a faster and cheaper way. Ripple, created by the

Bitcoin conference refuses bitcoin payments

Attendees at next week’s popular cryptocurrency conference are faced with the irony of using cash instead of bitcoin to pay for the event. The North American Bitcoin Conference (TNABC), which plans to cover a wide array of topics including blockchain technology, initial coin offerings (ICOs) and investment opportunities, has

North Korean caught secretly mining bitcoin rival

North Korean hackers are secretly mining a cryptocurrency rival to bitcoin as Kim Jong Un aims to cash in on the booming virtual cash economy and skirt the sanctions that are crippling his regime. According to a report, the rogue state is using foreign computers to funnel the cryptocurrency

Bitcoin conference refuses bitcoin payments

Attendees at next week’s popular cryptocurrency conference are faced with the irony of using cash instead of bitcoin to pay for the event. The North American Bitcoin Conference (TNABC), which plans to cover a wide array of topics including blockchain technology, initial coin offerings (ICOs) and investment opportunities, has

Warren Buffett predicts ‘bad end’ for cryptocurrencies

Berkshire Hathaway’s Warren Buffett said on Wednesday he will never invest in cryptocurrencies. “I can say almost with certainty that cryptocurrencies will come to a bad end,” Buffett told CNBC in an interview. Buffett’s comments come a day after JPMorgan Chase Chief Executive Jamie Dimon said he regrets calling bitcoin

Why I’m all about cryptocurrency — for now

Blockchain. Cryptocurrency. Bitcoin. There, I mentioned the three names that are getting an excessive amount of attention these days. Companies like the once-proud Eastman Kodak and the never proud Long Island Iced Tea Corp., as well as others that you’ve never heard of, are invoking those three words just

Bitcoin is the perfect currency for terrorists

One of the latest tools terrorists are using isn’t a new kind of bomb, gun, suicide vest or other device that can kill and maim. The tool is bitcoin, the virtual currency created and exchanged using a decentralized network of computers, without the involvement of government and banks. Because

CEO of porn cryptocurrency disappears with investor money

A cryptocurrency built for watching live-streaming porn is turning out to be a buzz-kill. Four investors in the digital currency, called Fantasy Market, claimed last week that its shadowy CEO disappeared with their money — and has not refunded all their investment despite repeated requests. The alleged inability of investors

Why Merrill Lynch won’t touch bitcoin

Merrill Lynch last week became the latest — and largest — Wall Street bank to say no to bitcoin. The brokerage arm of Bank of America said its 17,000 financial advisers can’t sell the cryptocurrency to its clients, even though every Joe Lunchpail clamors for it. After a more

Why Merrill Lynch won’t touch bitcoin

Merrill Lynch last week became the latest — and largest — Wall Street bank to say no to bitcoin. The brokerage arm of Bank of America said its 17,000 financial advisers can’t sell the cryptocurrency to its clients, even though every Joe Lunchpail clamors for it. After a more

Bitcoin slumps again, this time amid South Korea crackdown

Bitcoin is giving the Winklevoss twins a wild ride — again. The 9-year-old cryptocurrency — whose staggering rally this year recently made billionaires out of the Harvard-educated twins — tumbled as much as 10 percent after South Korea’s government warned it will crack down on trading. As of 3:05 p.m.

Bitcoin recovers from last week’s selloff

Bitcoin topped $16,000 on Tuesday, up more than a third from a rout last week that brought it to lows near $11,000. The world’s biggest and best-known cryptocurrency fell nearly 30 percent at one point on Friday to $11,159.93 and, despite a late recovery, had its worst week since

Bitcoin’s scary drop rattles one of its biggest bulls

Bitcoin’s “Black Friday” has rattled one of the controversial cryptocurrencies biggest backers. Panicked sellers on Friday sent bitcoin tumbling to a low of $10,891.32, down more than a third from just a day earlier, according to Coindesk data. There was no clear reason for the dramatic drop — capping a

Goldman Sachs to set up cryptocurrency trading desk

Goldman Sachs Group Inc. is setting up a trading desk to make markets in digital currencies like bitcoin, Bloomberg reported, citing people familiar with the matter. The Wall Street bank aims to get the business running by the end of June, Bloomberg reported Thursday. “In response to client interest in

Bitcoin plunges by more than a third in a single day

Bitcoin is getting burned. The controversial cryptocurrency plunged near the $11,000 mark on Friday, losing nearly a third of its value in a single day, leaving it on track for its worst week since 2013 after a blistering ascent to a peak close to $20,000 on Sunday. The biggest and

This financial dominatrix has made $1M in cryptocurrency

Whips and chains, or blockchains? This financial dominatrix has earned well over $1 million in cryptocurrencies, as the virtual currency has become the talk of Wall Street. The bitcoin bombshell, who goes by the name Theodora, uses financial domination on men who get sexual pleasure from paying her money and

Litecoin founder sells his stash due to ‘conflict of interest’

The founder of litecoin — a bitcoin-like cryptocurrency whose price has surged more than 80-fold this year — insists he’s not “abandoning ship” despite the fact he just sold all of his litecoins. Citing a “conflict of interest,” Charlie Lee revealed in a Reddit post early Wednesday that he

Chinese mogul buys stake in cryptocurrency stock exchange

One of China’s biggest business and entertainment moguls has bought a 27 percent stake in the Delaware Board of Trade, a company operating one of the newest stock exchanges in the country. The move is part of a push by Bruno Wu to start trading bitcoin-like securities, The Post

Bitcoin futures launch flops out of the gate

Bitcoin futures got a muted reception after their debut on CME Group late on Sunday, with volumes in the tens of millions of dollars in the first 12 hours of trading, as warnings about the risks of bitcoin sounded ever louder. The launch of futures by the world’s biggest

Bitcoin futures launch flops out of the gate

Bitcoin futures got a muted reception after their debut on CME Group late on Sunday, with volumes in the tens of millions of dollars in the first 12 hours of trading, as warnings about the risks of bitcoin sounded ever louder. The launch of futures by the world’s biggest

The person who created Bitcoin remains a mystery

Bitcoin was created by Satoshi Nakamoto from Japan. Or, some say, he or she might be a Finnish sociologist or a mathematician from Israel. Some think Nakamoto is the pseudonym of software developer Gavin Andresen, others believe it’s Tesla creator Elon Musk. (Both have denied the claim.) Whoever

North Korea’s stolen bitcoins now worth more than $80M

North Korean hackers stole millions of dollars’ worth of bitcoin and other digital currencies earlier this year — which are now worth more than $80 million, South Korea’s spy agency said. Nearly $7 million of the cryptocurrency that went missing from electronic exchanges over several months was swiped using

Morgan Stanley buys stake in Overstock cryptocurrency

Morgan Stanley went shopping at Overstock.com — and it had nothing to do with the discounted leather sofas. The Wall Street bank has purchased an 11.4 percent stake in the Web retailer just days before the Salt Lake City company’s cryptocurrency trading goes live. The disclosure, in a regulatory filing