Fed Chair: Crypto Has No Intrinsic Value, Not a Store of Value, Great for Money Laundering

The Federal Reserve’s new chairman made his stance on cryptocurrency clear to the US House of Representatives on Wednesday. In his view, cryptocurrencies have no intrinsic value, are not used often as a means of payment, are not a store of value, but are great for money laundering. He also dismisses the idea that cryptocurrencies … Read more

Kodak-Branded Bitcoin Mining Scheme Collapses

The Kodak-branded bitcoin mining rigs unveiled at the CES technology trade show this year will no longer be available to mine for customers. Amid scam accusations, the company behind the Kodak Kashminer crypto mining scheme has reportedly confirmed the plan has collapsed, citing intervention by the U.S. Securities and Exchange Commission. Also read: Yahoo! Japan Confirms … Read more

Bitcoin Price Watch: Currency Spikes to Nearly $7,300

At press time, the father of cryptocurrency has jumped to $7,327. This is a massive increase from yesterday’s price, and a clear sign that bitcoin is strong enough to handle present resistance, which is set at roughly $6,800. Granted the currency can step beyond that level, we are likely to witness $7,600 next, according to … Read more

Major Korean Exchange Bithumb Expanding into Japan and Thailand

One of South Korea’s largest cryptocurrency exchanges, Bithumb, is expanding into Japan and Thailand. The exchange is working on obtaining regulatory approval from the financial regulators of both countries. The new locations are part of the exchange’s global expansion plan. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Expanding into Thailand Bithumb is currently working … Read more