Cryptocurrency prices soar as Coinbase explores adding five new assets
Businessam Staff
July 14, 2018
The cryptocurrency market experienced a slight bump Friday, but five altcoins managed to break away from the pack, bolstered by the announcement that cryptocurrency exchange and brokerage giant Coinbase is “exploring” adding support for them to its several platforms. Earlier Friday, the San Francisco-based Coinbase announced that it is engaging with discussions with banks and […]
Only 8.5% of bitcoin, cryptocurrency traders are female
Joel EneogweMay 14, 2018
A new demographic analysis of people trading in cryptocurrencies has shown that only very few – 8.5 percent – are female, with most having little to no previous experience. The study also showed that many of this 8.5 percent are students or working in sales and marketing roles. The research, conducted by Etoro, a social […]
CME Group ups operations with instant ethereum reference rate, price index
Businessam StaffMay 14, 2018
CME Group, a derivatives exchange operator has upped its operations with the introduction of an ethereum reference rate and a real-time ethereum-dollar index in partnership with UK-based digital asset trading service, Crypto Facilities. The group on Monday said it would make available daily benchmark price in U.S. dollars each 24 hours, as well as the […]
Bitcoin faces renewed sell-offs, down 40% to $8,000 on prospect of increased regulation
Businessam StaffFebruary 2, 2018
The prospect of increased regulation, the $500 million hack of a Japanese exchange and a move by Facebook to ban cryptocurrencies advertisements, have heightened negative sentiments about bitcoin, which fortune went from bad to worse Friday. The digital currency dropped below $8,000 on Friday for the first time since November 2017, down over 40% so […]
Euro trades low in Asia as market witnessed sell-offs on German’s Merkel challenges in forming govt
Businessam StaffSeptember 25, 2017
The euro fell Monday in early Asian trading after Angela Merkel won the fourth term as the German Chancellor Sunday as traders engaged in sell-offs on uncertainty around the Merkel’s party forging a coalition, according to reports. The shared currency by most European countries was down 0.6 percent to $1.1185, just as the yield on […]
Vietnam’s foreign currency lending skyrockets in 8 months
Businessam StaffSeptember 19, 2017
Vietnam’s lending in foreign currencies grew 11.5 percent in the first eight months of this year, 6.7 fold higher than the same period last year. Meanwhile, lending in Vietnamese dong (VND) grew 11 percent, according to the country’s National Financial Supervision Commission on Tuesday. Local experts attributed the significant growth in foreign currency credit to […]
China’s yuan rebounds as economic optimism returns
Businessam StaffSeptember 11, 2017
For those who worry about the state of the world economy, China has long been a major reason to lose sleep. Its financial system labours under a mountain of loans, while weaker growth has prompted many Chinese people and companies to move their money overseas in recent years. China still faces hefty debt and slowing […]
Bitcoin jumps after first solution to major ideological divide
Businessam StaffJuly 18, 2017
Bitcoin reversed steep losses as miners began using new software which aims to bridge an ideological gap that has threatened to divide the crypto-currency. Bitcoin’s community has been at bitter odds for more than two years about how to solve its scaling problem, which has hampered the cryptocurrency’s growth and allowed rivals like ethereal to […]
French bank BNP Paribas is stung by a £188m fine over currency trading scandal
Businessam StaffJuly 18, 2017
BNP Paribas has been fined £188 million for failing to keep its currency traders from using electronic chatrooms to manipulate prices. The French bank will pay the money to the US Federal Reserve, which claims it failed to detect and address its traders’ use of electronic chatrooms to discuss their positions in the market for […]