Crypto News 

Goldman Sachs Warns High-Profile Clients of Crypto Bubble

“In a lengthy document to their highest profile clients, the Goldman Sachs Private Wealth Management division has warned about the danger of investing in cryptocurrency” writes Pedro Amster for newsbtc.com. But bitcoin does not provide any of these key advantages.For the banking giant, the rise in Bitcoin and other digital currencies during 2017 is a sure signal that the entire space is in an economic bubble.During the document, Sharmin Mossavar-Rahmani and Brett Nelson (both senior officials at the Investment Strategy Group Goldman Sachs) do acknowledge some practical uses for the rapidly…

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Crypto News 

Nordic Banks Express Hostility to Cryptocurrency

“However, a spokesperson for them, Raymond Frenken, has also weighed on the topic of banks banning investment in cryptocurrency” reports newsbtc.com. Two of Scandinavia’s largest banks have expressed their concern over Bitcoin and other digital currencies.Danske spokesperson Kenni Leth told the news source via email: Neither of the aforementioned Nordic banks currently offer any products for their clients to get involved with the cryptocurrency space.According to a memo sent on Monday, Nordea will no longer allow its employees to trade cryptocurrency.Afroditi Kellburg, a spokesperson at the bank cites the “unregulated…

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SEC chairman: public companies pivoting overnight to blockchain tech to capitalize on hype are being scrutinized, and poor legal advice is being given on ICOs

“WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission (SEC) is scrutinizing public companies that change their name or business model in a bid to capitalize upon the hype surrounding blockchain technology, SEC Chairman Jay Clayton said on Monday” writes Min Read for reuters.com. Dozens of little-known companies across the globe have seen their share prices leap in recent months after unveiling plans to enter the bitcoin industry or that of its underlying distributed ledger blockchain technology.In December, the SEC temporarily suspended trading in the shares of Crypto Company (CRCW.PK),…

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Crypto News 

Bitcoin slips below $11,000 as cryptocurrencies continue to feel pressure

“Strategist sees huge year ahead for these 4 cryptos South Korean officials have said the country intends on exploring a ban of cryptocurrency trading platforms” writes Markets Reporter for marketwatch.com. Bitcoin prices retreated Monday, dipping below $11,000, as the cryptocurrency and its rivals saw an extension of the pressure that’s marked the early weeks of 2018.Separately, the second-most popular cryptocurrency, ether coins on the Ethereum blockchain, slid below the psychologically important $1,000 level to $942.06, according to CoinDesk. Source: marketwatch.com Share This:

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Panicky Bitcoin investors struggle to withdraw cash…

“Many are looking to put their money in gold instead, with some European gold traders reporting a “five fold increase” in demand amid fears Bitcoin could collapse entirely” writes Jay Akbar for thesun.co.uk. THERE are mounting fears that Bitcoin investors will struggle to get their cash out after the cryptocurrency’s value fell 40 per cent in a single month.He told the Times how he sold 30kg of gold worth around £1million on “one crazy day” – January 16.This uncertainty is driving Bitcoin owners to invest in the more reliable gold,…

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Crypto News 

Bitcoin tanks 11% to fall below $11,000; South Korea announces details on crypto tax

“Bitcoin trading in South Korean won accounted for 4% of trading volume, according to CryptoCompare” writes Evelyn Cheng for usatoday.com. The Japanese Yen had the largest share, accounting for about 37%, while the U.S. dollar had about 33% of bitcoin trading volume, the website showed.Ripple, the third-largest digital currency by market capitalization, fell about 12% to $1.22, according to CoinMarketCap.Bitcoin traded near $10,487 as of 11:56 a.m. on Coinbase, the leading U.S. marketplace for buying and selling major digital currencies.The news followed an announcement in late December the South Korean…

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Crypto News 

Bitcoin tanks more than 10% to below $11,000; South Korea announces details on crypto tax

“Bitcoin and other major digital currencies dropped sharply Monday morning” writes unknown author for cnbc.com. Bitcoin traded near $10,487 as of 11:56 a.m. on Coinbase, the leading U.S. marketplace for buying and selling major digital currencies. Bitcoin in the last hour Ripple, the third-largest digital currency by market capitalization, fell about 12 percent to $1.22, according to CoinMarketCap. Source: cnbc.com Share This:

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Coinbase hires former Twitter executive Tina Bhatnagar as its VP of Operations and Technology

“Bhatnager declined, however, to say if she holds bitcoin or any other digital currency herself” writes Jeff John Roberts for fortune.com. But explosive growth has also resulted in a bumpy experience on the customer service front, including complaints of outages and slow response times.In her new role, Bhatnager says her top priorities include improving customer support and helping Coinbase, which also runs an institutional platform known as GDAX, scale up.The digital currency exchange Coinbase has been on a rocket ship ride for the last year, signing up a flood of…

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Vanguard chief: You will never see a Bitcoin fund from us

“You will never see a fund from Vanguard on bitcoin,” Buckley told CNBC’s Bob Pisani on Monday” writes Thomas Franck for cnbc.com. Vanguard CEO Tim Buckley may think highly of blockchain technology, but he isn’t planning in investing in bitcoin anytime soon.Buckley compared the lack of fundamental economic value in bitcoin to a lack of fundamental value in gold, an asset class which Vanguard also avoids.”The bitcoin – its value is based off of scarcity – and an artificial scarcity that’s out there,” he explained. Source: cnbc.com Share This:

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