Bruce Bentley

HIGH street banks are going 'to war' on cryptocurrencies such as Bitcoin after a spike in fraud, reports the Times One bank will use technology to ban several million customers from buying ANY digital currencies, it adds. Ashley Hart, head of fraud at TSB, said: "Platforms and exchanges are rife with fraudsters, and many do not have proper controls to prevent victims losing large sums of monty. "Crypto is a hotbed for fraud and urgently needs greater regulation and consumer protection. "Anyone approached to invest in crypto should be extremely wary." Despite the warning, Dubaicoin saw its value shoot up 1,000 per cent in just 24 hours despite the price of other cryptocurrencies continuing to fall. The city's government has denied any official link, with the authority even claiming it is part of an "elaborate scam". The dramatic price rise came as the value of Bitcoin and other cryptocurrencies such as Ethereum continue to struggle. Mean...

  Choosing the best cryptocurrency is a tricky business, not least because there are so many of them. We all know about Bitcoin and how rich we’d be today if we’d invested in it, say, 10 years ago. But what about all the other cryptocurrencies? There are hundreds if not thousands of them. Many are alternative — supposedly improved — versions of Bitcoin, but others, like Ethereum, are much more than just a currency. The choice is further complicated by what you it is that you want to do with your cryptocurrency: you can buy crypto to hold for a decade or two, or you can buy and sell it hoping to profit off its volatility. Either way, unlike 10 years ago, we now know that it is a legit asset, as big banks, funds, and millions of individuals include crypto in their investment portfolios. What is the best cryptocurrency? So, which is the best cryptocurrency to invest in? It’s hard to recommend investing for the long-term in anything other than Bitcoin and Ethereum at this point, becaus...

Hello everybody! Welcome to this weekly recap of Deputy Editor Joe Ciolli's investment stories. Please subscribe here to receive this newsletter in your inbox every week. Brian Snyder / Reuters; Michael Loccisano / Getty Images; Samantha Lee / Insider Hello and welcome to Insider Investing. I'm Joe Ciolli and I'm here to walk you through the developments in the markets. Here's what's posted: If you are not already a subscriber to Insider Investing, you can sign up here. Do you have thoughts about the newsletter? Do you just want to talk about markets? Just drop me an email at jciolli@insider.com or on Twitter @JoeCiolli. Samantha Lee / Insider SPAC issuance has declined 90% since March as consumer demand fades - and short sellers have their sights set on certain blank check companies. We spoke to a SPAC skeptic about how he decides which to bet against and another investor shared arbitrage opportunities in the room. Read the full stories...

  The price of the Bitcoin virtual cryptocurrency is shown in this photo on a phone screen. STR | NurPhoto | Getty Images LONDON - Bitcoin prices rose again on Monday as the cryptocurrency market tried to recover from a wide sell-off last week. Just after noon in London, the price of the world's most valuable digital currency rose 8% to $ 53,544 per coin, according to Coin Metrics. Two smaller digital tokens, Ether and XRP, rose 10% and 12%, respectively. Last week, Bitcoin fell below $ 50,000 for the first time since early March after a planned hike in capital gains tax by US President Joe Biden led to a sell-off. The entire crypto market lost more than $ 200 billion in value in a single day. Biden is expected to increase the long-term capital gains tax for the richest Americans to 43.4%, including a surcharge. This sparked a brief slump in the stock markets, and analysts said fears about the proposal may have spread to the crypto market. Bitcoin is up around 80% since th...

  Posted: Apr 26, 2021 2:43 PM CDT by Alabama News Network employees The cryptocurrency has been big with investors trading the digital currency, but has yet to break through with consumers as a common way of buying and selling goods. That could change as more companies are now using Bitcoin. When baseball recently welcomed spectators again, it was the beginning of something new in the home of Oakland A's, California. Fans watched from a season suite paid for with Bitcoin. This marked the first time cryptocurrency was used to buy a Major League Baseball ticket. "We thought starting with the suite sales, which is typically around $ 65,000 a year and Bitcoin is approaching 60,000. We said it was the perfect time to demonstrate this and see if it had some traction" says Dave Kaval, President of Oakland A. Given the team's location, Kaval says, it makes sense that they should be the first professional baseball team to try this out. “Our fans are all over the Bay Ar...

  Bitcoin rose after Tesla Inc. reported a profit of $ 272 million for "digital assets" after investing $ 1.5 billion in the cryptocurrency. The electric vehicle leader announced on Monday that it had generated $ 101 million in revenue from the investment, which helped beat analysts' earnings estimates for the first quarter of the year. Bitcoin even surged 1.9% and traded over $ 54,000 after Tesla's CFO reiterated the company's commitment to cyber currency. "We believe in the value of Bitcoin over the long term," said CFO Zachary Kirkhorn on the conference call. "Our intention is to keep what we have for the long term and to continue to accumulate bitcoin from our customers' transactions in vehicle purchases." Tesla announced the purchase of the digital currency earlier this year and also said it would accept it as a form of payment. This surprising announcement helped increase Bitcoin's legitimacy and resulted in an increase in va...

Sovereign governments could potentially be the next group to adopt digital assets, according to a report from the crypto-assets firm octopus . Kraken writes in an update that the central bank's digital currencies (CBDCs) could become "the newest and perhaps most comprehensive instrument for expanding their monetary policy." Kraken also mentions that many governments "have signaled their intention to research and use government-sponsored virtual currencies". Christine Lagarde , President of European Central Bank (ECB) has determined that an ECB digital currency could hit the market within the next 4 years, the Kraken team noted. You also mentioned: “After the COVID-19 shutdown, many governments have given their citizens financial relief. The funds have largely helped people who have lost their jobs, but in countries like the US it has been eight months and some people still haven't received a check. If successfully implemented, CBDCs would allow governm...