Cryptocurrency and Bitcoin are having another
moment in the mainstream news cycle, and it’s likely that these kinds of
stories will become even more frequent moving forward. If you’re wondering how
to keep up with the latest cryptocurrency news headlines from around the world,
we’ve got you covered in this article. Here are five sites that you can use to
stay up-to-date on the latest cryptocurrency news articles and trends as they happen
and develop over time. Let’s start with...
Cryptocurrency Warnings From Government Officials
Recent comments made by U.S. Federal Reserve
Chairman Jerome Powell on March 19th signaled he believes cryptocurrency is
best avoided by investors and media figures who play a role in shaping public
opinion. Speaking to reporters at a press conference, Powell said: We really
don't have authority over Bitcoin...it's not something we can really influence.
He went on to encourage media figures to refrain from using cryptocurrency as
an example of an investment option, saying I do think there are investor or
consumer protection issues with it. Powell's words came just days after South
Korea's Financial Services Commission (FSC) announced that it would begin an investigation
into whether cryptocurrency exchanges were engaging in money laundering.
Warnings Against Crypto Use, Crime and Malware
When you consider that cryptocurrency is a
relatively new technology, it's only natural to be concerned about security
risks. Cyberattacks on major crypto exchanges and new methods of scamming are
popping up regularly and there are plenty of cryptocurrency users who have lost
money to hackers or online fraudsters. Unfortunately, there will always be bad
actors in any industry so it's important to do your research before getting
involved with cryptocurrencies. Start by reviewing some of these articles:
Warning: Cryptocurrency Malware Is On The Rise, CoinDash Initial Coin Offering
Falls Victim To Theft And Other Recent Crypto Crime Victims. Also keep an eye
out for new scams as they pop up.
Exchange Holdups and Hacks Section: Other Interesting Stories on Government Regulation, Crime, etc.
More exchange thefts have occurred and there’s
been a rise in armed robberies on exchanges. In other news, lawmakers are
scrambling to stop Chinese-run cryptocurrency mining operations while local
police forces all over China are cracking down on crime as it pertains to
Bitcoin and other cryptocurrencies. The general sentiment seems to be that governments
and law enforcement agencies around the world see cryptos as a threat or
nuisance (at best) and are becoming increasingly aware of their use in criminal
activities. Keep an eye out for more government regulations designed to clean
up crypto; these may be beneficial for some of us but will inevitably come at a
cost. Governments don’t regulate lightly—and they usually do so only when their
constituents demand it.
Big Banks Moving Into Crypto
A Wall Street strategist and a former hedge
fund trader have teamed up to create a crypto bank that will offer currency
trading, loans, and other services for institutional investors. Mike Novogratz,
who formerly managed $9 billion at investment firm Fortress Investment Group,
said he and Bloomberg’s former chief global macro strategist Matthew Goetz are
working on Galaxy Digital Assets Fund together. (Source: Bloomberg) A new
report from Juniper Research has found that global spending on blockchain
solutions is expected to reach $945 million in 2018—and by 2021 it will grow
nearly 4-fold to $2.1 billion. Separately, Accenture released its own study
predicting that 14% of banks will use a public blockchain by next year.
Major Retailers Accepting Cryptos
Today, most retailers don’t accept
cryptocurrency payments. But that could soon change. As previously reported by
CoinDesk, a group of retail giants led by Walmart is set to announce later
today that they’ve teamed up with tech giant IBM to create a new
blockchain-based platform designed to help businesses manage food supply
chains. The group – which also includes Nestle SA and Unilever NV – will
collectively develop tools based on blockchain technology as a way to trace
products more efficiently, as well as increase transparency among vendors and
consumers.
Major Coins Closing in on $1K+ Per Coin
The price of cryptocurrencies, most notably
Bitcoin and Ethereum, have been surging in recent weeks. The co-founder of
Ethereum is predicting that it could hit $5K by next year. In fact, Steve
Wozniak recently said that he wants to be one of those people who bought
Bitcoin at a thousand dollars or whatever it was and then watched it go up ten
thousand times. At press time on October 15th, 2017, a single bitcoin was worth
over $4200. Given its current growth rate, that seems entirely possible.
Smaller Coins Showing Growth Over Past Week
The whole market experienced a slight
correction over last week, but smaller coins have bounced back quicker than
their larger counterparts. Coins with a market cap below $5 million and volume
below $50,000 show some of the strongest gains in volume over last week. Of
these coins, Telos Network (TLOS) and InMax (INX) have shown promising gains of
43% and 36% respectively. Meanwhile Spectrecoin (XSPEC), CometCoin (CMT),
FuturoCoin (FTO), NeosCoin (NEOS), and TronClassic(TRXC) all added 33% to their
price in 7 days.
Mining Operations Still Growing Exponentially
Ethereum has gotten a lot of attention in
recent months as its price has risen to levels that made early investors rich.
As a result, many companies are turning their focus to Ethereum mining. This week,
according to Bloomberg , GMO Internet Group announced that it’s doubling down
on crypto-mining by building new facilities in Europe. It will spend $3 million
to build two cryptocurrency mining farms in northern Europe and is aiming for
more than 2 trillion yen ($18 billion) of virtual currency revenue over 10
years. The move is part of its plan to more aggressively pursue business
opportunities relating to blockchain technology.