Graphics card maker AMD announced its “highest profitability in [seven] years” Tuesday, but expects its revenue to drop next quarter due at least in part to falling demand from cryptocurrency miners. The company brought in $1.42 billion in revenue last…
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Iran Could Ban Bitcoin for Payments, Central Bank Report Suggests
The Central Bank of Iran appears set to prohibit “unapproved” cryptocurrencies from being used for payments in the country, a draft report obtained by CoinDesk states. According to a translation of the report entitled “Obligations and Rules Regarding Cryptocurrencies,” “any…
Don’t Throw the Crypto Tokens Out With the Bathwater
Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. ___________…
2 Executives Are Leaving Blockchain Startup R3 in Management Shake-Up
Distributed ledger technology provider R3 has carried out an extensive internal reorganization, resulting in the departure of two members of its management committee, CoinDesk has learned. Brian McNulty, a managing director and head of global services, and Lauren Carroll, chief…
NYSE Arca Files Paperwork for Bitwise Bitcoin ETF Approval
New details have surfaced about the bitcoin exchange-traded fund (ETF) proposed by Bitwise and NYSE Arca. Bitwise Asset Management announced its intention to launch the ETF earlier this month. If approved, it would be the first bitcoin ETF to make it to…
When Bitcoin ETF? Not Any Time Soon, But Maybe by 2020
For the first time in more than a year, there are no active bitcoin exchange-traded fund (ETF) proposals pending before the U.S. Securities and Exchange Commission (SEC). Money manager VanEck, financial services firm SolidX and Cboe BZX Exchange withdrew a…
Crypto Markets Unphased by Latest ETF Withdrawal
The cryptocurrency markets remain unphased after an ETF withdrawal announcement on Wednesday did little to affect bitcoin’s price. The Cboe BZX exchange has withdrawn a proposed rule change that would have otherwise paved the way for an ever-elusive bitcoin exchange-traded…
Crypto Exchange Bithumb Seeks US Listing via Reverse Merger Deal
Bithumb, one of the largest cryptocurrency exchanges by trading volume, is looking to go public in the U.S. through a reverse-merger route. Blockchain Industries, an investment firm focusing on the crypto and blockchain industry and traded on the U.S over-the-counter markets, announced…
Bitcoin’s Price Counters the VIX, Confirming It’s Still a Risk Asset
Evidence is emerging that bitcoin has yet to truly earn its reputation as an “uncorreleated asset.” Case and point, bitcoin’s latest sell-off from $6,000 to nearly $3,000 was accompanied by a surge in the CBOE Volatility Index (VIX). The VIX measures the…
Proof-of-Stake Could Lead to Crypto Banking. Let’s Avoid That
Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. ___________…