Coin News

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The post Global Bitcoin Extorting Ransomware Campaign Hits as Many as 74 Countries appeared first on CryptoCoinsNews.

Bitcoin's price took a dip today, falling more than $100 at points in what was one of its worst days in recent weeks.

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The post NHS is Brought to its Knees in a Global Wave of Bitcoin Ransomware appeared first on CryptoCoinsNews.

Cyber attacks around the globe, hitting 12 countries across Europe and Asia and impacting the public health system in Britain, involved a leaked tool from the National Security Agency for hacking.

Cyber attacks around the globe, hitting 74 countries across Europe and Asia and impacting the public health system in Britain, involved a leaked tool from the National Security Agency for hacking.

A similar ransomware attack was carried out against corporate employees in Spain, according to authorities.

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The post A Bitcoin or Ethereum Breakthrough? European Union Bids to Enter the Blockchain Race appeared first on CryptoCoinsNews.

 An apparent cyberattack with the motivation of extortion has hit hospitals across England, taking town systems for appointments. Patients are being turned away unless it’s an emergency. Pictures appearing on Twitter showed screens of NHS computers with ‘ransomware’ images demanding payment of $300 worth of Bitcoin, saying: “Ooops, your files have been encrypted!”… Read More

Palestine's monetary authority is reportedly looking to create its own digital currency.

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This story was delivered to BI Intelligence "Fintech Briefing" subscribers. To learn more and subscribe, please click here.

On Thursday, bitcoin prices reached an all-time high, trading at $1,820 at this time of writing to beat last week's record of $1,461.

This meteoric rise is likely still being driven by the impetus coming from Japan — trading volumes soared on its bitFlyer bitcoin exchange due to major institutional investment into the platform in February, and the country legalized bitcoin as a currency on April 1. However, as prices continue climbing, prompting more and more people to buy in, questions are starting to arise as to whether the asset is headed for a bubble.

On Tuesday, a board member at the Bundesbank, Germany's central bank, issued a warning to the public not to buy bitcoin, saying the bank did not recognize it as a currency, and the cryptocurrency may be facilitating speculation. Investors could be getting ahead of themselves and ignoring potential risks — like the possibility of new regulations hostile to cryptocurrency. Such developments could spook investors and rattle the asset’s value.

Nearly every global bank is experimenting with blockchain technology as they try to unleash the cost savings and operational efficiencies it promises to deliver. 

Banks are exploring the technology in a number of ways, including through partnerships with fintechs, membership in global consortia, and via the building of their own in-house solutions. 

Sarah Kocianski, senior research analyst for BI Intelligence, Business Insider's premium research service, has compiled a detailed report on blockchain in banking that outlines why and in what ways banks are exploring blockchain technology, provides details on three major banks' blockchain efforts based on in-depth interviews, and highlights other notable blockchain-based experiments underway by global banks. It also discusses the likely trends that will emerge in the technology over the next several years, and the factors that will be critical to the success of banks implementing blockchain-based solutions.

Here are some of the key takeaways from the report:

• Most banks are exploring the use of blockchain technology in order to streamline processes and cut costs. However, they are also looking to leverage additional advantages, including increased competitiveness with fintechs, and the ability to use the technology to create new business models. 
• Banks are starting to narrow their focus, and are increasingly honing in on tangible use cases for blockchain technology that solve real problems faced by their businesses. 
• Regulators are taking an increased interest in blockchain technology, and they're working alongside major banks to develop regulatory frameworks. 
• Blockchain-based solutions will start to emerge in different areas of financial services. The most successful solutions will solve specific problems for banks and attract a large enough network to create widespread benefits. 

 In full, the report:

• Outlines banks' experiments with blockchain technology. 
• Details blockchain projects at three major banks — UBS, Credit Suisse, and Banco Santander — based on in-depth interviews. 
• Discusses the likely trends that will emerge in the technology over the next several years.
• Highlights the factors that will be critical to the success of banks implementing blockchain-based solutions.

Interested in getting the full report? Here are two ways to access it:

1. Subscribe to an All-Access pass to BI Intelligence and gain immediate access to this report and over 100 other expertly researched reports. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally. >> START A MEMBERSHIP
2. Purchase & download the full report from our research store. >> BUY THE REPORT

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Bitcoin prices slid this morning, a day after crossing the $1,800 mark according to the CoinDesk Bitcoin Price Index (BPI).

Source

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The post Bitcoin Transactions’ Congestion Spikes to an All-Time High, Mempool Jumps to 116MB appeared first on CryptoCoinsNews.

[…]

The post Bcoin Releases Extension Blocks Code for Bitcoin Scaling; BitPay’s On Board appeared first on CryptoCoinsNews.

One of bitcoin's most prolific developers is attempting to make bitcoin addresses more user-friendly.

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PayPal accepting bitcoin? The story behind the headlines that made the mainstream public take notice of the upstart digital currency.

Source

[…]

The post Bitcoin Price Surges Past $2,070 in South Korea, Arbitrage Opportunity? appeared first on CryptoCoinsNews.

Here is what you need to know. 

China's bank lending heats up. Chinese banks handed out 1.1 trillion yuan ($159.4 billion) in net new loans in April, up from 1.02 trillion yuan in March, data released on Friday by the People's Bank of China showed. 

Hong Kong's GDP crushes expectations. Hong Kong's economy grew at a 4.3% year-over-year clip in the first quarter, easily beating the 3.7% growth that economists surveyed by Bloomberg were expecting.  

Australia's banks had a brutal week. Australia's four major banks lost a combined $16.5 billion in market cap over the past week as they emerged as the biggest losers from the federal budget.  

Bitcoin has gained in 18 of the last 20 sessions. The cryptocurrency has soared 55% during its streak. It holds little changed near $1,820 a coin on Friday as traders await the US Securities and Exchange Commission ruling on whether it will reverse its decision to reject the Winklevoss twins' exchange-traded fund. 

Sprint and T-Mobile are talking about a merger. The talks between Softbank, Sprint's largest shareholder, Sprint, and T-Mobile owner Deutsche Telecom come after consolidation in the industry was sheleved for over a year until the conclusion of the April 27 government spectrum auction, Bloomberg says.  

Nordstrom's same-store sales miss. The high-end department store said comparabale sales slipped 0.8% versus a year ago, missing the flat reading that Wall Street was anticipating.  

Emirates is getting crushed by Trump's travel ban. The airline said profit plunged 82% and called President Donald Trump's travel ban "destabilizing," Reuters says. 

Stock markets around the world are mixed. China's Shanghai Composite (+0.7%) led the gains in Asia and Britain's FTSE (+0.2%) paces the advance in Europe. The S&P 500 is on track to open down 0.4% near 2,386.

Earnings reporting is light. JC Penney reports ahead of the opening bell. 

US economic data flows. CPI and retail sales will be released at 8:30 a.m. ET before University of Michigan consumer confidence crosses the wires at 10 a.m. ET. The US 10-year yield is down 2 basis points at 2.37%. 

Join the conversation about this story »

Here is what you need to know.

China's bank lending heats up. Chinese banks handed out 1.1 trillion yuan ($159.4 billion) in net new loans in April, up from 1.02 trillion yuan in March, data released Friday by the People's Bank of China showed.

Hong Kong's GDP crushes expectations. Hong Kong's economy grew at a 4.3% year-over-year clip in the first quarter, easily beating the 3.7% growth that economists surveyed by Bloomberg were expecting.

Australia's banks had a brutal week. Australia's four major banks lost a combined $16.5 billion in market cap over the past week as they emerged as the biggest losers from the federal budget.

Bitcoin has gained in 18 of the past 20 sessions. The cryptocurrency has soared 55% during its run. It holds little changed near $1,820 a coin Friday as traders await the US Securities and Exchange Commission ruling on whether the SEC will reverse its decision to reject the Winklevoss twins' exchange-traded fund.

Sprint and T-Mobile are talking about a merger. The talks among Softbank, Sprint's largest shareholder, Sprint, and T-Mobile owner Deutsche Telekom come after consolidation in the industry was shelved for over a year until the conclusion of the April 27 government spectrum auction, Bloomberg says.

Nordstrom's same-store sales miss. The high-end department store said comparable sales slipped 0.8% versus a year ago, missing the flat reading Wall Street was anticipating.

Emirates says it's getting crushed by Trump's travel restrictions. The airline said profit plunged by 82% and called President Donald Trump's travel restrictions "destabilizing," Reuters says.

Stock markets around the world are mixed. China's Shanghai Composite (+0.7%) led the gains in Asia, and Britain's FTSE (+0.2%) paces the advance in Europe. The S&P 500 is on track to open down 0.4% near 2,386.

Earnings reporting is light. JCPenney reports ahead of the opening bell.

US economic data flows. CPI and retail sales will be released at 8:30 a.m. ET before University of Michigan consumer confidence crosses the wires at 10 a.m. ET. The US 10-year yield is down by 2 basis points at 2.37%.

Join the conversation about this story »

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The post (+) Bitcoin is Falling appeared first on CryptoCoinsNews.

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The post Bitcoin Boom: Japan’s Largest Bank to Turn Credit Card Unit into Digital Currency Platform appeared first on CryptoCoinsNews.

Good morning! Here's what you need to know in markets on Friday.

1. China will open its market to US credit rating agencies and credit card companies as well as resume imports of US beef, as part of a package hailed by the Trump administration as the first step in redefining the trade relationship between the world’s two largest economies. The Financial Times reports that the 10-point package revealed on Friday was billed as an “early harvest” from the 100-day plan to reset the trade relationship that Chinese leader Xi Jinping and Donald Trump agreed to pursue when they met in April.

2. SoftBank Group is leading a $502 million (£389.5 million) investment in Improbable Worlds, a London-based virtual reality startup, in one of the UK’s largest venture capital deals. Bloomberg reports that the valuation wasn’t disclosed but SoftBank is buying a non-controlling stake, which would mean Improbable is worth at least $1.04 billion (£810 million).

3. The UK financial watchdog has had to delay a decision on its investigation into Barclays’ arrangements with Qatar at the height of the financial crisis after the bank belatedly turned over thousands of “significant” documents. The Financial Times reports that the Financial Conduct Authority has this week written to the bank and individuals caught up in the probe to explain that the huge cache of previously undisclosed evidence has pushed back the watchdog’s decision, according to people familiar with the decision.

4. Barclays reshuffled its senior global investment bank management on Thursday and is seeking to hire between 50 to 100 people to boost the division under new chief Tim Throsby, according to sources with direct knowledge of the plans. Throsby will become interim head of the bank's markets division while Joe Corcoran, who previously held the role, will move to the newly created position of vice chairman of markets, the sources said as the bank looks to take on Wall Street rivals.

5. Goldman Sachs will launch a new private stock-trading venue, known as a "dark pool," on Friday, that is run by exchange operator Nasdaq, according to a note to clients obtained by Reuters. Goldman has been refreshing its trading technology to become more competitive in its electronic stock execution business and hired Nasdaq last year to revamp its dark pool, known as Sigma X.

6. Emirates, the Middle East's largest airline, reported a drop in annual profit on Thursday for the first time in five years and criticised President Donald Trump's restrictions on some US flights as "destabilising" for travel. The Dubai-based company said net profit at its airline business plunged 82% to 1.3 billion dirhams (£274.7 million, $354 million) in the year to March 31.

7. Department store chain House of Fraser has defended its decision to hire a new chief executive with zero retail experience by highlighting the company's increasing focus on leisure. The Telegraph reports that the retailer has named Alex Williamson as its new chief executive. Williamson has spent the last nine years at Goodwood, the group behind the Goodwood Revival and Festival of Speed.

8. Japanese shares slipped from a 1-and-a-1/2-year high on Friday as the market took a breather from its rally since mid-April. The Nikkei is down 0.48% at the time of writing (6.22 a.m. BST/1.22 a.m. ET), while elsewhere in Asia the Hong Kong Hang Seng is up 0.18%, and China's Shanghai Composite is up 0.62%.

9. US stocks slid on Thursday after an earnings miss from Macy's rippled through the retail sector and raised questions about US consumer growth. All three major indices slid less than 0.3% as stocks stayed mired in a tight trading range.

10. Bitcoin hit another record high on Thursday. The cryptocurrency broke through $1,800 per coin, up 4.59% at $1,853.55 after Ulmart, Russia's largest online retailer, said it would begin accepting bitcoin, Cryptocoin News says.

Join the conversation about this story »

NOW WATCH: These are the watches worn by the smartest and most powerful men in the world

Good morning! Here's what you need to know in markets on Friday.

1. China will open its market to US credit rating agencies and credit card companies as well as resume imports of US beef, as part of a package hailed by the Trump administration as the first step in redefining the trade relationship between the world’s two largest economies. The Financial Times reports that the 10-point package revealed on Friday was billed as an “early harvest” from the 100-day plan to reset the trade relationship that Chinese leader Xi Jinping and Donald Trump agreed to pursue when they met in April.

2. SoftBank Group is leading a $502 million (£389.5 million) investment in Improbable Worlds, a London-based virtual reality startup, in one of the UK’s largest venture capital deals. Bloomberg reports that the valuation wasn’t disclosed but SoftBank is buying a non-controlling stake, which would mean Improbable is worth at least $1.04 billion (£810 million).

3. The UK financial watchdog has had to delay a decision on its investigation into Barclays’ arrangements with Qatar at the height of the financial crisis after the bank belatedly turned over thousands of “significant” documents. The Financial Times reports that the Financial Conduct Authority has this week written to the bank and individuals caught up in the probe to explain that the huge cache of previously undisclosed evidence has pushed back the watchdog’s decision, according to people familiar with the decision.

4. Barclays reshuffled its senior global investment bank management on Thursday and is seeking to hire between 50 to 100 people to boost the division under new chief Tim Throsby, according to sources with direct knowledge of the plans. Throsby will become interim head of the bank's markets division while Joe Corcoran, who previously held the role, will move to the newly created position of vice chairman of markets, the sources said as the bank looks to take on Wall Street rivals.

5. Goldman Sachs will launch a new private stock-trading venue, known as a "dark pool," on Friday, that is run by exchange operator Nasdaq, according to a note to clients obtained by Reuters. Goldman has been refreshing its trading technology to become more competitive in its electronic stock execution business and hired Nasdaq last year to revamp its dark pool, known as Sigma X.

6. Emirates, the Middle East's largest airline, reported a drop in annual profit on Thursday for the first time in five years and criticised President Donald Trump's restrictions on some US flights as "destabilising" for travel. The Dubai-based company said net profit at its airline business plunged 82% to 1.3 billion dirhams (£274.7 million, $354 million) in the year to March 31.

7. Department store chain House of Fraser has defended its decision to hire a new chief executive with zero retail experience by highlighting the company's increasing focus on leisure. The Telegraph reports that the retailer has named Alex Williamson as its new chief executive. Williamson has spent the last nine years at Goodwood, the group behind the Goodwood Revival and Festival of Speed.

8. Japanese shares slipped from a 1-and-a-1/2-year high on Friday as the market took a breather from its rally since mid-April. The Nikkei is down 0.48% at the time of writing (6.22 a.m. BST/1.22 a.m. ET), while elsewhere in Asia the Hong Kong Hang Seng is up 0.18%, and China's Shanghai Composite is up 0.62%.

9. US stocks slid on Thursday after an earnings miss from Macy's rippled through the retail sector and raised questions about US consumer growth. All three major indices slid less than 0.3% as stocks stayed mired in a tight trading range.

10. Bitcoin hit another record high on Thursday. The cryptocurrency broke through $1,800 per coin, up 4.59% at $1,853.55 after Ulmart, Russia's largest online retailer, said it would begin accepting bitcoin, Cryptocoin News says.

Join the conversation about this story »

NOW WATCH: These are the watches worn by the smartest and most powerful men in the world