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In this position statement, I urge Ethereum’s community to fork, soft and hard. Like almost everyone, I fully dismissed Bitcoin in 2011 when a devastating MT Gox hack created a meme that Bitcoin was not safe, not secure, that the network could not be trusted with our money. Bitcoin almost died back then. I did […]

The post Dear Ethereum Community. FORK IT! appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

The price of bitcoin fell below $700 on 21st June, dropping more than 10% in an aggressive correction to recent gains.

 Over a year after being voted in as the executive director of the Bitcoin Foundation, Bruce Fenton is closing his term, with a relatively unknown South African venture capitalist, Llew Claasen, primed to take over. As a bitcoin advocacy group and trade organization, the Bitcoin Foundation will see a new executive director in Llew Claasen, […]

The post The Bitcoin Foundation Gets a New Executive Director appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

The core development team behind advanced blockchain platform Nxt that builds on and extends the basic functionality of the first wave of pioneering crypto-currencies, has announced “broadening access” to the blockchain space with a new ‘child-chain’ platform, Ardor. It will enable users to create their own blockchain technology with Ardor child chains based on technologies built on the Nxt 1.0 crypto currency and the blockchain.

Federal Reserve chair Janet Yellen spent Tuesday morning speaking before the Senate Banking Committee in the first of her two-day, semi-annual congressional testimony.

On the big issue dominating markets right now — Brexit — Yellen said a UK vote to leave the European Union could have "significant economic repercussions," and create market volatility. 

An exit from the EU could have a negative ripple effect on other economies in the region. Global markets rallied this week as polls showed the "Remain" camp gaining momentum. 

Yellen didn't recommend which way the vote should swing on Thursday, saying the Fed will be watching the economic fallout closely. 

In opening remarks, Yellen repeated that the Fed will be cautious in raising interest rates, even as it expects data on growth, employment and inflation to improve. The fallout from a Brexit is just one thing that could tarnish this outlook. 

None of this was new, since it was the fourth time in only a few weeks that Yellen addressed markets.

The Fed's latest monetary-policy report put stock-market valuations on watch, noting that forward price-to-earnings ratios are above the median level of the last three decades.

The Fed's report also included a section on minority unemployment rates; during her last testimony, the Congressional Black Caucus grilled Yellen on how she's addressing black unemployment.

Yellen said Tuesday that it's important to the Fed that employment gains are broad-based, and that its own internal hiring makes room for diversity. 

Q&A

On a question about forward guidance, Yellen repeated that the Fed's projections are not a commitment. Some critics have said the Fed lost credibility because the economy did not always evolve according to its forecasts. 

Yellen countered an argument from Senator Bob Corker (R-Tennessee) that the Fed's reinvestment of its bonds is effectively a fourth round of quantitative easing. To stoke money supply after the last financial crisis, the Fed embarked on several bond-buying rounds.

She said the Fed has the legal authority to use negative interest rates — another stimulative tool — but sees no need to use them in the US.

On Puerto Rico's debt crisis, Yellen said the Fed's authority is extremely limited, and it won't be appropriate to grant loans.

US Sen. Elizabeth Warren (D-Massachusetts) asked whether the Fed would commit to enforcing consequences on the big banks if they fail to resolve problems identified in their living wills. Yellen declined to make a commitment, saying the Fed will consider the appropriate action if the October deadline is missed. 

On Wednesday, Yellen will face the House Financial Services Committee. 

SEE ALSO: Here's the simplest way to understand how a Brexit would affect the US

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The bitcoin price chart slammed down like a Stark on a Bolton, today, but readers are being encouraged to take heart from the healthy correction and well-deserved profit-taking. This is the natural behavior of markets, and after a much need pullback greater things lie ahead for the bitcoin price chart and for Bitcoin at large. […]

The post Bitcoin Price Crash: Why The Sell-Off? appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Important Disclaimer: NOTHING HEREIN IS INTENDED TO BE UNDERSTOOD AS LEGAL ADVICE. CONSULT A LAWYER QUALIFIED TO PROVIDE LEGAL ADVICE IN...

The post A Legal Analysis of the DAO Exploit and Possible Investor Rights appeared first on Bitcoin Magazine.

In a speech prepared for the Lord Mayor’s Banquet for Bankers and Merchants of the City of London at the Mansion House, Mark Carney,...

The post Bank of England Launches Fintech Accelerator, Partners With PwC on Distributed Ledger Project appeared first on Bitcoin Magazine.

Bitfinex, one of the biggest bitcoin exchanges, went down for the second time within a day today at 10AM London time for four hours following “network issues” within Bitfinex’s datacentres according to Zane Tackett, Director of Community and Product Development. The unexpected suspension of trading sent price crashing last night to $700 from almost $780. […]

The post Bitfinex Market Freeze Sends Bitcoin Price Crashing appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

The Bank of England has announced that it is exploring new financial technologies by working closer with FinTech companies in order to boost cyber security and new payment systems. Mark Carney, the governor of the Bank of England, set out his remarks on FinTech and the consequences that it could have on managing the economy […]

The post Bank of England Aims to Boost FinTech Sector appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

That lack of maturity turned the celebrated financial innovation of May into a blazing wreck last week, as a feature of Solidity, the smart contract programming language of the Ethereum blockchain, permitted an unknown individual to drain a third of the $150 million The DAO had raised.

Singapore-based bitcoin exchange Quoine has raised $20 million from venture capitalists, building on a $2 million angel investment in December of 2014, according to dealstreetasia.com. The exchange will move its headquarters to Tokyo, while keeping its Singapore office. Quoine is one of several bitcoin exchanges serving Japan to secure investments this year. Zaif raised $6.5 […]

The post Singaporean Bitcoin Exchange Quoine Raises $20 Million; Moves to Japan appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

As bitcoin and ether prices scale in drastic ways, cryptocurrency exchange Gemini, founded by the Winklevoss brothers is now expanding to the UK as a part of a wider expansion plan. Starting today, the Gemini bitcoin and digital assets exchange opens in the United Kingdom, enabling registered users in the region to trade bitcoin and […]

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