On Wednesday (Jan. 10), Warren Buffett, the billionaire investor, said he believes the bitcoin craze will come to an ending that won’t be good news for investors. In an interview with CNBC, the chief executive of Berkshire Hathaway argued that cryptocurrencies “will come to a...
JPMorgan Chase CEO Jamie Dimon may not be interested in bitcoin, but he does regret calling it a fraud. In an interview with Fox Business Network covered by Bloomberg, Dimon said he wished he hadn’t used that terminology when dismissing bitcoin. “I regret making [those comments],”...
Digital payment company PayPal is not betting on bitcoin as of now. In an interview with TheStreet.com, PayPal chief executive officer Dan Schulman said that while PayPal is focused on innovating in the payment market, it’s not focused specifically on the digital currency. “I think right...
Facing pressure from the Chinese government, bitcoin mining collectives are shifting their operations overseas, Bloomberg reports. Bitmain, which runs China’s two largest bitcoin-mining collectives, is setting up a regional headquarters in Singapore and has expanded its operations to the U.S. and Canada. Another mining pool, BTC.TOP,...
In response to concerns over bitcoin’s potential effect on the U.S. financial system, the nation’s derivatives regulator will hold two meetings this month to discuss its procedures for listing and trading cryptocurrencies. According to Reuters, the Commodity Futures Trading Commission’s technology and risk advisory committees will...
Peter Thiel appears to be betting big on bitcoin: Founders Fund, the venture capital firm he co-founded, has accumulated hundreds of millions of dollars of the cryptocurrency. Citing sources familiar with the matter, The Wall Street Journal reports that the Founders Fund has purchased $15...
A cryptocurrency executive who was kidnapped by an armed gang near his office in Kiev earlier this week was freed on Thursday after paying the ransom demand of more than $1 million in bitcoins. According to Financial Times, Pavel Lerner, who runs the U.K.-registered cryptocurrency...
A Goldman Sachs economist has joined the list of those concerned with the impact that cryptocurrencies, such as bitcoin, could have on the U.S. economy. In the report “10 Questions for 2018,” issued late Friday (Dec. 29), Jan Hatzius warned that financial imbalances within the...
Bitcoin has found another naysayer. This time, Massachusetts’ top securities regulator has issued a warning on the digital currency, calling it “entirely speculation.” “It doesn’t pass the smell test,” William Galvin, secretary of the Commonwealth of Massachusetts, said Wednesday on CNBC. “There is no product...
