Stock market selloffs, volatility blow-ups, collapsing crypto currencies. They’re all the symptoms of an unfolding global credit squeeze, according to famed HSBC Holdings Plc bond guru Steven Major. It just happens to be developing at a snail’s pace.Major and his team see what they call a “long list” of selloffs in risk market across the world as evidence of the disruption wrought by tighter dollar liquidity. In response they’ve slashed their forecast for bund yields, turned more bearish on credit and become even more cautious on emerging-market debt.“Market participants are typically looking for validation of a forecast from cyclical data or one-off events but the reality can be different,” the bank’s global head of fixed-income research wrote in a note on Wednesday. “We appear to be in the midst of a slow-motion credit crunch.”
Roger Ver describes his time spent in Federal Prison, after being caught and charged for possession of illegal fireworks.
Maltese Parliament has officially passed 3 bills into law, establishing the first regulatory framework for blockchain, cryptocurrency and DLT (Distributed Ledger Technology). This makes Malta the first country in the world to provide an official set of regulations for operators in the blockchain, cryptocurrency and DLT space.“I think that blockchain technology, DLT and cryptocurrency is where innovation is happening right now and we are very glad that Malta can offer the first jurisdiction in the world to regulate this sector. We are excited about what this will lead to in the future,” Joseph Muscat, Malta’s Prime Minister, told me.Just last week, the Maltese Parliament voted unanimously to approve 3 cryptocurrency and blockchain bills, which were designed to make Malta one of the most desirable locations to set up shop in the blockchain space. As these bills have now been passed into laws, Malta is sure to become an early pioneer in economic innovation. In turn, this will strengthen the country’s economy with the creation of a new economic niche.
Fraudsters are increasingly using cryptocurrency in money laundering activities around the world. In an effort to help combat that activity, cyber-security startup CipherTrace announced its Cryptocurrency Anti-Money Laundering (AML) Compliance Solution on July 3.CipherTrace is led by CEO Dave Jevans, who is well-known in the cyber-security industry as the chair of the Anti-Phishing Working Group (APWG) and was formerly the founder of USB hardware security vendor Ironkey, which was acquired by Imation in 2011. With CipherTrace, Jevans has built a platform that makes use of advanced analytics and fraud detection techniques to help financial institutions and cryptocurrency exchanges combat money laundering.”We have seen a dramatic increase in cryptocurrency money laundering in 2018 so far,” Jevans said. “We’ve already tripled 2017, and we’re only halfway through the year.”
ETROIT — Walk into the Shell gas station on the corner of Nine Mile and Greenfield roads in Oak Park, Michigan, head toward the back of store, and there, next to the Better Made potato chips selling for $1, sits an ATM selling bitcoin.“The fastest and most secure way to turn your bitcoin to cash and your cash into bitcoin,” reads the screen for the Slon BTM. Nothing is all that secure about bitcoin, a cryptocurrency that had one incredible boom in 2017 and what’s looking like one lingering bust in 2018. Bitcoin’s price traded as high as nearly $20,000 in late 2017 — up from just $1,000 in early that year. But it’s down nearly 70 percent in the past six months. Bitcoin’s price was around $7,700 in trading June 5. And it was down to around $6,154 by June 22.
The bitcoin price has leapt twice in the last four days, taking it up more than 10 percent at one point to just over $6,600 after the price wallowed under $6,000 for most of last week.While some on forums Bitcoin Talk and Reddit’s r/Bitcoin are celebrating a return to a bull market, others are more sceptical — and expect the bears to come out again soon after months of sinking prices for bitcoin and other cryptocurrencies.Here are a few things that are potentially moving the price, and why it might not mean the bitcoin price holds above the psychological $6,000 mark for long.
The inception of Ethereum has transformed the way people use cryptocurrencies. Instead of encouraging them to hoard their cryptocurrency as a store of value, it is now fueling a market not seen since the Dot-Com boom. Smart contracts,…
You may have seen the actor and part-time tech investor Ashton Kutcher present $4 million worth of digital coins called XRP to Ellen DeGeneres’ favorite charity on her talk show. Or maybe you saw Stephen Colbert announce a $29 million donation of XRP to schoolteachers on his late-night show.Ripple, a San Francisco company that is rolling in money thanks to last year’s runup in the value of cryptocurrencies, was behind the giveaways. And it has quietly become one of the most valuable startups of the last decade thanks to the value of XRP, the digital token its founders created six years ago.Now comes the hard part: persuading people to use XRP for something other than speculative trading. It is an issue facing most of the still-young cryptocurrency industry. Digital tokens like bitcoin and its many imitators (like XRP) were designed to make electronic transactions of all sorts easier. But today almost no transactions are happening, other than on virtual currency exchanges where people bet on their price.
What the chart claims to show is this – there is somehow a trailing breakeven price at which Bitcoin has historically traded above. Using a 1.8x average Price/Breakeven (the latest novel effort to fit a relative value multiple to Bitcoin price), he thinks Bitcoin (BTC-USD) should trade at ~$36k by 2019 YE.
Dave Carlson recently wanted to borrow about $1 million to fund operating expenses at Giga Watt, his cryptocurrency-mining operation based in East Wenatchee, Wash. The mining, which generates new units of cryptocurrency using specialized computers, requires vast amounts of electricity; Carlson said he spends about $250,000 a month on power. He could have exchanged some of his crypto for cash, but he didn’t want to miss out on future surges in value.For Carlson and other cryptocurrency investors, this is the conundrum: They may be millionaires, but very few businesses accept bitcoin, Ethereum or other digital currencies. People who own crypto typically exchange it for U.S. dollars to make purchases, missing out on potential value increases, paying hefty fees or incurring capital-gains taxes.