Coin News

Market observers weigh in on bitcoin's latest price increase, voicing their opinions on what drove the value of the digital currency over $700.

 Ripple Labs Inc., has had its BitLicense application approved today by New York state’s financial regulator. The New York State Department of Financial Services (NYDFS) has approved Ripple Labs’ BitLicense application. Granted today, the approval will grant Ripple the license to sell and obtain XRP – the native digital asset of the Ripple Consensus Ledger, […]

The post Ripple Gains BitLicense in New York appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

 Ripple Labs Inc., has had its BitLicense application approved today by New York state’s financial regulator. The New York State Department of Financial Services (NYDFS) has approved Ripple Labs’ BitLicense application. Granted today, the approval will grant Ripple the license to sell and obtain XRP – the native digital asset of the Ripple Consensus Ledger, […]

The post Ripple Gains BitLicense in New York appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Bitcoin micropayments startup ChangeTip is struggling to find a buyer after its engineering team was purchased by travel startup AirBnB in April.

San Francisco startup Ripple has become the second blockchain firm to receive a BitLicense in New York.

President Barack Obama’s economic policy staff recently met with stakeholders across the fintech ecosystem to discuss how fintech can support economic policy, Adrienne Harris, special assistant to the President of economic policy, noted in a White House blog. The attendees included policy makers, fintech startups and investors. The meeting addressed cybersecurity, ways to manage small […]

The post Obama’s Economic Policy Advisors Strategizes With Fintech Industry Players appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Breakout Coin, an in-game staking mechanism, cryptocurrency payment and loyalty platform on the Breakout Chain blockchain, will launch a public coin sale at 10 a.m. PDT on Monday, June 13, 2016. The Bittrex cryptocurrency exchange will host the coin sale. A total of 6,627,494 Breakout Coins (BRK) will be offered. Combined with a prior sale […]

The post Gaming Payment Platform ‘Breakout Coin’ Launches Coin Sale appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Akin Fernandez is the owner of the bitcoin voucher service Azteco, and an active technology blogger under the nickname 'Beautyon'.  In this piece, Fernandez offers a critique of a presentation given last week at the US Federal Reserve to an audience of 90 central bankers, and explains why he believes it didn't properly represent the technology. […]

Bitcoin startup 21 Inc open-sourced its bitcoin micropayments software this weekend.

Bitcoin Press Release: With the current increase in the price of Bitcoin, and with it estimated to reach a higher value over the next couple of weeks, now is the perfect time to submit your Initial Public Offering (IPO) at BTCPOP. The increase has bought with it a new wave of users who are looking […]

The post Increase in Bitcoin Is Better for Upcoming Businesses…especially at BTCPOP appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

According to a report, the Bank of Tokyo-Mitsubishi UFJ Ltd., Japan’s largest bank will soon become the world’s first global bank to issue its own digital currency. A new bank-issued virtual currency may be in the offing next year. Dubbed “MUFG coin”, short for the Mitsubishi UFJ Financial Group — the parent company of the […]

The post Report: Japan’s Largest Bank to Launch Digital Currency in 2017 appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

The bitcoin price chart surged higher over the weekend as bullish trade easily scaled the order books during low liquidity. The $100 distance from $580 to $680 (Bitstamp) was easily achieved within 48 hours. Technical analysis shows more advance is in store. This analysis is provided by xbt.social with a 3-hour delay. Read the full […]

The post Bitcoin Price $700 Coming Up! appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Good morning!

The Japanese yen is stronger by 0.9% at 106.00 per dollar as of 7:23 a.m. ET.

The yen is "breaking higher and more gains are in store from here with falling global and local bond yields working as the catalyst," wrote Morgan Stanley's Hans W. Redeker in a note to clients.

"The deeper global bond yields fall, the more investors express global growth concerns," he added.

As for the rest of the world, here's the scoreboard:

• The British pound is down by 0.6% at 1.4175 as the latest Betfair odds show the likelihood of Britain remaining in the EU are down to 64% from 78% on Thursday.
• Bitcoin is up by a whopping 9.1% at 672.76 per dollar ahead of a "halvening" or "halving" later this month . This is a reduction in the amount of bitcoins produced by mining - the process whereby computers dedicate processing power towards creating new bitcoin.
• The Chinese yuan fell 0.4% to 6.5864 per dollar, and is nearing its weakest level since the first quarter of 2011. Also, China's fixed asset investment slowed to 9.6% through May, the first time it's been below 10% since 2000. Additionally, retail sales rose 10% year-over-year, just missing the 10.1% that was expected.
• The US dollar index is little changed at 94.50 ahead of a quiet day for data.
  

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Bitcoin price continues its bullish swell as it surged to a two-year high over the weekend amidst increased demand from new Chinese investors and expectations of a further surge ahead of the halving event next month. The Bitstamp Price Index (BPI) struck a high of $693.97 in USD trading today, a milestone that represents a […]

The post Newsflash: Bitcoin Price Continues Sprint Towards $700 appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Here is what you need to know.

The IMF warned China. The International Monetary Fund says China must do something about its mounting corporate debt load. Reuters reports, David Lipton, first deputy managing director of the IMF, told a group of economists in Shenzhen, China, "Company debt problems today can become systemic debt problems tomorrow. Systemic debt problems can lead to much lower economic growth, or a banking crisis. Or both." Specifically, Lipton pointed to the debt of state owned enterprises, which total 55% of corporate debt, but account for only 22% of economic output, Reuters says.

China's investment hit a 15-year low. China's fixed asset investment slowed to 9.6% through May, the first time it's been below 10% since 2000. Additionally, retail sales rose 10% year-over-year, just missing the 10.1% that was expected. On Monday, China's yuan fell 0.4% to 6.5864 per dollar, and is nearing its weakest level since the first quarter of 2011.

Betting odds for Britain remaining in the EU are falling. The latest Betfair odds show the likelihood of Britain remaining in the EU are down to 64% from 78% on Thursday. The uncertainty surrounding the vote continues to pressure the British pound, which has fallen more than 3.5% since May 25. Traders will be watching the February low of 1.3871, which, if broken, would produce the lowest print since 1985.

Oil is lower. West Texas Intermediate crude oil trades down about 1% near $48.50 per barrel. Monday's selling extends crude's slide to a third day, during which it has lost about 6%. In a Monday morning email, Mike van Dulken of Accendo Markets wrote, "$50 could be a tough level to surpass for Crude. While Brent is currently in a consolidation pattern (mid-downtrend) around $50, WTI has dropped back below to trade around $48.5."

Bitcoin is surging. The digital currency is higher by almost 20% near $690, and is threatening the $700 level for the first time since February 2014. Monday's gain has bitcoin up almost 30% since the middle of May. The strong gains come as halving, or the reduction of the amount of bitcoins produced by mining, is set to occur later this month.

The final round of bidding for Yahoo's core assets is set. Rivals AT&T and Verizon have made the third and final round of bidding for Yahoo's core assets, Reuters reports. Additionally, a group led Dan Gilbert, the founder of Quicken Loans, and backed by Warren Buffett, also made the next round while a couple of private equity firms did not. Yahoo hopes to complete the process by next month, a person familiar with the matter told Reuters.

Walgreens has terminated its relationship with Theranos. A statement posted on Walgreens' website says it is shutting down all 40 Theranos' wellness centers at Walgreens stores in Arizona. The decision by Walgreens is a huge blow to Theranos as the wellness centers were the company's primary source of revenue, according to the Wall Street Journal. "Quality and safety are our top priorities and we are working closely with government officials to ensure that we not only comply with all federal regulations but exceed them," Theranos spokesperson Brooke Buchanan told Business Insider.

Apple's Worldwide Developers Conference is happening. The WWDC kicks off in San Francisco. According to The Verge, Siri will be the main focus of the event. Other areas of focus for the event include Apple Music, Apple Pay, and iOS.

Stocks everywhere are under pressure. Japan's Nikkei (-3.5%) was hit hard overnight, and Spain's IBEX (-1.6%) leads the losses in Europe. S&P 500 futures are down 8.75 points at 2087.50.

US economic data is absent. Data picks up on Tuesday with import/export prices, retail sales, and business inventories. The US 10-year yield is down two basis points at 1.62%.

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Bitcoin is surging like crazy right now. The digital currency is hitting highs not seen since February 2014, jumping by well over 30% in a month.

It's great news for bitcoin miners, the people responsible for creating new bitcoin.

Mining infrastructure is the backbone of bitcoin. Anyone who contributes computing power to help process transactions on the network is rewarded with the chance to "mine" bitcoin.

In plain English, in return for helping keep the network up and running, they have the chance of being given a newly created piece of the digital currency.

This payout makes the entire process — with the right equipment — incredibly lucrative. It has helped spawned a huge and surreal industry.

You can mine at home, and many people do. But companies dedicated to mining have also sprung up, some worth tens of millions of dollars.

These companies build huge data centres, or "mines," that consume vast amounts of power and perform insane computations on the hunt for digital gold.

Here's a look inside one:

These photos are from Genesis Mining, a cloud mining company. It lets customers mine using their "cloud," without having to buy specialised hardware.

Here's their website.

It's technically possible to mine on just about any computer, but it's not profitable to do so unless you have the right kit. Many people do mine themselves, often joining large pools to improve their odds. But Genesis' model is another option.

The company had early mines in Bosnia and China, and most of its operations are currently based in Iceland.

Bitcoin is on a wild streak, surging markedly over the weekend.

Right now, the digital currency is sitting at $691 (£487.36) — and earlier this morning, it nearly broke the $700 (£493.70) mark, reaching highs of more than $697 (£491.59). (All figures come via bitcoin news site CoinDesk's price analysis tool.)

In the space of a month, bitcoin's value has jumped by more than 30% — from around $450 (£317.38) in mid-May to the sub-$700 mark it is hovering around today.

This is the highest bitcoin's price has been in around two years — it last broke the $700 mark back in February 2014, when it was trending downwards following all-time highs of more than $1,100.

Bitcoin is infamously volatile. This time last year, it was just a third of its current value, around $230. But it has slowly regained value since, gathering pace over the last few weeks.

The price surge comes ahead of a "halvening" or "halving" later this month. This is a reduction in the amount of bitcoins produced by mining — the process whereby computers dedicate processing power towards creating new bitcoin. When it hits, the amount of bitcoin being introduced in a set time period will halve. As you'd expect when supply is about to be constrained, the price is spiking.

Previous recent surges have also been driven by Chinese investors as the yuan at a time of a weak yuan.

Here's the price of bitcoin over the last month:And here is the price of bitcoin since its inception:

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