Coin News

For anyone following the Mt. Gox debacle in recent years, the person at the center - Mark Karpeles - represented by an oddball character perfect for some future Hollywood film called, "The Bitcoin Exchange," which highlights the sometimes Wall-Streetian, and oft naive, story of Bitcoin. Mark Karpeles, the long embattled and now-incarcerated CEO of Mt. Gox, was well-known for his appreciation of a fine double latte with caramel and extra whipped cream. He is better known for having lost millions worth of bitcoins through his exchange Mt. Gox. Many claim the Mt. Gox CEO, amid crisis, continued to spend customer funds for […]

The post Mt. Gox's Mark Karpeles: Of Cats, Temp. Unavailable Bitcoins & Double Lattes With Whipped Cream appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

The recent failed attempt on $300, followed by decline back to support, implies that Bitcoin trading has abandoned immediate advance and will meander - perhaps lower - before trying to advance the price again. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis Time of analysis: 05h26 UTC Bitstamp 4-Hour Chart From the analysis pages of xbt.social, earlier today: The 4-hour chart indicators show that the recent decline has become oversold. MACD has turned back up, […]

The post Bitcoin Trading Above Support appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

This is a guest post by Pamela Morgan, the CEO of Third Key Solutions. She is a widely respected authority on multi-signature governance, smart contracts, and legal innovation with cryptocurrencies. Third Key Solutions is the culmination of her work advising bitcoin startups in multi-signature governance processes and key management. Your company’s recovery plan is the most important document you can create to ensure your business will survive an emergency. If you operate a bitcoin-, altcoin- or asset-token-based business, a recovery plan isn’t just nice to have – it’s absolutely necessary. A strong, well-thought-out recovery plan can help to prevent opportunistic fraud and asset transfer mistakes by providing clear guidance during atypical events. Coin recovery should be just one part of your overall […]

The post When Disaster Strikes: Developing a Recovery Plan for Bitcoin and Digital Tokens appeared first on Bitcoin Magazine.

This is a guest post by Pamela Morgan, the CEO of Third Key Solutions. She is a widely respected authority on multi-signature governance, smart contracts, and legal innovation with cryptocurrencies. Third Key Solutions is the culmination of her work advising bitcoin startups in multi-signature governance processes and key management. Your company’s recovery plan is the most important document you can create to ensure your business will survive an emergency. If you operate a bitcoin-, altcoin- or asset-token-based business, a recovery plan isn’t just nice to have – it’s absolutely necessary. A strong, well-thought-out recovery plan can help to prevent opportunistic fraud and asset transfer mistakes by providing clear guidance during atypical events. Coin recovery should be just one part of your overall […]

The post When Disaster Strikes: Developing a Recovery Plan for Bitcoin and Digital Tokens appeared first on Bitcoin Magazine.

Spells of Genesis, one of the most highly anticipated arcade games of 2015, developed by well-known game developer EverdreamSoft, is introducing and implementing bitcoin and its blockchain technology in the game’s storyline and as an in-game currency. Before the game’s launch on both iOS and Android Play Store, EverdreamSoft plans to host a crowdfunding campaign for its game and storyline development. Spells of Genesis will be using BitCrystal tokens as its in-game currency which can be used to purchase game items and to trade with other users within the game. The concept behind Spells of Genesis’ crowdfunding campaign is similar to Ethereum’s: People purchasing BitCrystals will become investors and will be provided with BitCrystals early on. BitCrystal is a tradable […]

The post Popular Arcade Game Launches Token Sale with Shapeshift appeared first on Bitcoin Magazine.

Innovate Finance, an independent membership-based industry organization that aims to advance Great Britain’s standing as a leader in financial technology (FinTech) innovation both domestically and abroad, has released its new manifesto: Innovate Finance Manifesto: 2020. “Our vision for 2020 is for the U.K. to be the most investment-friendly environment for FinTech globally, attracting $4 billion of venture investment and $4 billion of institutional investment in corporate venture funds, accelerators and innovation programs,” states the manifesto. “Our vision for 2020 is for the U.K. to be the premier location for at least 25 global FinTech leaders, whether by IPO, global market share or by valuation.” The manifesto mentions the need for effective regulation, a proactive policy environment and a commitment to […]

The post UK Prime Minister Cameron Praises the Innovate Finance Manifesto Despite Views on Encryption appeared first on Bitcoin Magazine.

Previously in Australia it was determined that Bitcoin was an intangible asset, but now the government is moving toward a position that Bitcoin and other cryptocurrencies should be treated the same as any other currency as far as Goods and Services Taxes are concerned. Local press outlets expect a Senate committee centered on digital currencies will make the recommendation in the coming days. Treating Bitcoin as a regular currency could have severe implications on the technology in some sectors, such as Bitcoin trading. Many viewed the previous position as an "intangible asset" to be a way for the country to […]

The post Australian Senate Committee Says Bitcoin Is Regular Currency appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Embattled bitcoin ATM maker Robocoin is facing yet another upset, this time in the form of a customer lawsuit.

London-based bitcoin firm Elliptic has been awarded "Security Project of the Year" by The Banker magazine. In its second edition, The Banker's Technology Projects of the Year awards, claim to celebrate the "most innovative and transformational contributions to financial services technology around the world". Adam Joyce, CTO and co-founder, said in a company post that […]

Bitcoin Press Release: Licensed UK Bitcoin exchange Bit-x recently released Bitcoin debit cards fully funded by users’ cryptocurrency balances. Bitcoin enthusiasts and professionals can now spend Bitcoin worldwide, anywhere debit cards are accepted – online, in-store, and withdraw cash from ATMs at any location. Licensed UK based cryptocurrency trading platform Bit-x.com offers a range of services including Bitcoin, Litecoin, and GH/s trading and Bitcoin cloud mining. Bit-x are now proud to present the future of Bitcoin debit cards issued and processed by Bit-x’s exclusive bank partner. Bit-x Card’s can be used anywhere debit cards are accepted. Users can withdraw money […]

The post Bitcoin Funded Debit Cards Announced by Licensed Bitcoin Exchange Bit-x appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Bitcoin Press Release: Licensed UK Bitcoin exchange Bit-x recently released Bitcoin debit cards fully funded by users’ cryptocurrency balances. Bitcoin enthusiasts and professionals can now spend Bitcoin worldwide, anywhere debit cards are accepted – online, in-store, and withdraw cash from ATMs at any location. Licensed UK based cryptocurrency trading platform Bit-x.com offers a range of services including Bitcoin, Litecoin, and GH/s trading and Bitcoin cloud mining. Bit-x are now proud to present the future of Bitcoin debit cards issued and processed by Bit-x’s exclusive bank partner. Bit-x Card’s can be used anywhere debit cards are accepted. Users can withdraw money […]

The post Bitcoin Funded Debit Cards Announced by Licensed Bitcoin Exchange Bit-x appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

The purpose of the following video, shared by Bitcoin Indonesia, is to introduce people to Bitcoin in a very factual manner. Ian Lee discusses the roots of Bitcoin, acknowledging that it was most likely a group of "libertarian cryptographers" who started the project, and then moves on to discuss value propositions of Bitcoin for remote migrant workers and more. This is real value to the customer. Real value to the world. The video even goes beyond just bitcoin the currency and begins to discuss other possible uses of the Bitcoin block chain. After all, there may be a huge financial […]

The post Video: Ian Lee's "Why Bitcoin Will Change Everything" appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Hundreds of millions of virtual currency dollars are missing

The Greek stock market plunged on Monday morning as trading resumed after a five-week Athens Stock Exchange closure. The Athex Composite crashed from 800 to 620 points, a 22% drop, at the market open. According to Marketwatch this was the index's worst ever single drop and it occured within minutes after trading resumed. Banks First, More Restrictions Banking shares were heavily sold with the National Bank of Greece down to its 30% daily volatility limit. The Greek banking index was also sold down to the volatility limit within minutes. Blue chip futures (expiring August) were down 20.5% today. Investment adviser […]

The post Greek Stock Market Crashes At Open appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

A Scottish bitcoin trader had thousands of pounds returned to him after they were seized by police during a money laundering investigation in May.

Happy Monday! Here's what you need to know.

The Greek stock market is crashing. The Greek stock market reopened for the first time in five weeks, and it's ugly. The benchmark ASE index plummeted 22.8% before recovering some of its losses. Piraeus Bank and National Bank of Greece crashed the maximum 30% before being halted.

The Greek economy is crashing. Greece's economy screeched as political turmoil took over. The Markit manufacturing purchasing managers' index (PMI) reflected a record contraction, crashing to 30.2 in July from 46.9 in June. Any reading below 50 signals contraction. "Manufacturing output collapsed in July as the debt crisis came to a head," Markit's Phil Smith said. "Factories faced a record drop in new orders and were often unable to acquire the inputs they needed, particularly from abroad, as bank closures and capital restrictions badly hampered normal business activity. Demand was hit amid the heightened uncertainty surrounding Greece’s future, leading both total new business and exports to contract sharply, and it remains to be seen how long it takes these to recover."

The rest of Europe is doing much better. The composite eurozone manufacturing PMI signaled growth, registering at 52.4 in July, which was higher than the earlier estimate of 52.2. Germany, Spain, and Italy all grew. "The eurozone manufacturing economy showed encouraging resilience in the face of the Greek debt crisis in July," Markit's Chris Williamson noted. "The PMI held close to its June level, which had been the highest for over a year, coming in ahead of the earlier flash estimate largely on the back of stronger than previously recorded growth in Germany."

China is definitely slowing. China's official manufacturing PMI fell to 50.0 in July from 50.2 in June. China's Caixin manufacturing PMI fell to 47.8 in July from 49.4 in June; this was the weakest reading since July 2013. The numbers were just as ugly in Taiwan, Indonesia, and South Korea.

Markets are mixed. Europe is mostly up with Germany's DAX up 0.4%, France's CAAC 40 up 0.3%, and Spain's IBEX up 0.3%. In Asia, Japan's Nikkei closed down 0.2%, Hong Kong's Hang Seng closed down 0.9%, and China's Shanghai composite tumbled 1.1%. US futures are down modestly with Dow futures down 11 points, S&P futures down 2.2 points, and Nasdaq futures down 4.7 points.

Get ready for a ton of data. Today, we'll get reports on US personal income and spending (8:30 a.m ET), manufacturing (9:45 a.m and 10 a.m.),construction spending (10 a.m.), and auto sales (all day). This, as we kick off jobs week in America. Read our complete preview in BI's Monday Scouting Report.

HSBC beats. "HSBC Holdings beat expectations with a 10% rise in first-half profit thanks to a strong performance in Hong Kong and said it had agreed a $5.2 billion sale of its business in Brazil," Reuters reported. "Europe's biggest bank by market value is to sell the unprofitable Brazilian arm to Banco Bradesco SA, Brazil's second-biggest private-sector bank, for a higher than expected 17.6 billion reais ($5.2 billion)."

Puerto Rico will default. "Puerto Rico will miss a payment on debt due Aug. 1, the governor's chief of staff said on Friday, an event that will be considered a default by investors as the commonwealth lurches towards what could be one of the largest U.S. municipal debt restructurings in history," Reuters reported. "The missed payment will mark the first default by the commonwealth and shows the depth of the island's economic and cashflow problems. Puerto Rico Governor Alejandro Garcia Padilla shocked investors in June when he said the island's debt, totaling $72 billion, was unpayable and required restructuring."

Private equity pioneer Jerome Kohlberg has died. "Jerome Kohlberg Jr., a founder of investment firm Kohlberg Kravis Roberts & Co and a pioneer of the leveraged buyout, died on Thursday at his home in Martha's Vineyard, Massachusetts, aged 90," Reuters reported. "Kohlberg's death was confirmed by his former partners at KKR on Saturday. His son, James, said the cause of death was cancer."

Bitcoin CEO arrested. "Mark Karpeles, the head of the collapsed MtGox Bitcoin exchange who was arrested in Tokyo, is facing fresh allegations that he misused $8.9 million in customers' deposits, Japanese media reported Sunday," AFP said. "French-born Karpeles, 30, was arrested on Saturday after a series of fraud allegations led to the Tokyo-based exchange's spectacular collapse last year and hammered the digital currency's reputation."

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The CEO of failed Bitcoin exchange company Mt.Gox has been arrested by the Japanese police and is currently being held in connection with the loss of bitcoins worth $387 million. Mark Karpelès, former founder and CEO of Japanese-based bitcoin exchange Mt.Gox, once the biggest bitcoin exchange in the world has been arrested in Japan by the country’s police on suspicion on inflating his account by a million dollars. Japanese police arrested Karpelès, 30, alleging that he manipulated the collapsed company’s computer systems in February 2013 to increase the cash balance in an account owned by him. Also read: Bitcoin Exchange […]

The post Founder of Mt.Gox Bitcoin Exchange Arrested in Japan appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

The week features a busy calendar with manufacturing data from several major economies, as well as several central banks making rates statements. China manufacturing came in lower than expected and the market watches US unemployment figures as the countdown to a September Fed rates hike continues. This post is powered by the Bitcoin Trading Network xbt.social - CCN29 and get 29USD off! Economic Indicators World Indexes and Forex Rates   Commodities In the Calendar This Week Sun 2 August China Caixin Final Manufacturing PMI (actual: 47.8 expected: 48.3 previous: 48.2) Mon 3 August UK Manufacturing PMI (expected: 51.6 previous: 51.4) […]

The post Global Economic Outlook: Yuan, Dollar and Commodities appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

NBC News has been able to exclusively obtain a secret NSA map which indicates massive cyber assault by the Chinese government on the United States of America’s economy. The assaults were directed at all sectors of the economy of the United States of America including defense contractors like Lockheed Martin and international organizations like Google.

The post US Targets By China Cyber Attacks Shown On Secret NSA Map appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

 The former head of bitcoin exchange Mt.Gox, Mark Karpeles, screwed a lot of early adopters. It is unclear at this point how much Karpeles allegedly lost or took, but the Japanese police are claiming he lost about $387 million while Mt. Gox was in business. While his inept management was inexcusable – according to Japan Times Karpeles apparently added millions in bitcoin to a live server… Read More

The rapper, actor and record producer Snoop Dogg was arrested by Italian authorities at the Lamezia Terme airport with $422,000 in cash stuffed inside of pieces of luggage. The Guardia di Finanza confiscated half of the money based on the money laundering legislation. The 43-year-old rapper, whose real name is Calvin Cordozar Broadus Jr., was on his way to England with the cash in Louis Vuitton luggage, according to an Italian lawyer who represents the entertainer. The maximum amount of undeclared cash one can take aboard a plane in the European Union is 10,000 euros ($10,986.00 USD). Snoop has been […]

The post Snoop Dogg Stopped In Italian Airport With $422,000 Cash, Half Confiscated By Authorities appeared first on CCN: Financial Bitcoin & Cryptocurrency News.