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Tag: coin

Bitcoin suddenly plunges 20% – wiping $10,000 off the value of a single coin

Bitcoin suddenly plunges 20% – wiping $10,000 off the value of a single coin

Technology
Bitcoin plunged by more than 20% over the weekend - wiping more than $ 10,000 (£7,395) off the price of a single coin.The fall puts the cryptocurrency on track for its biggest one-day drop since March, when the COVID-19 pandemic was just beginning to shred global markets. Bitcoin fell as low as $ 30,500 on Monday afternoon - its lowest point since 5 January - after reaching a record $ 42,000 on Friday.The crash prompted the UK's Financial Conduct Authority to warn that those who invest in cryptocurrencies should be prepared to lose all of their money.In a statement, the FCA said crypto investments generally involve very high risks - and some investment companies may understate these dangers while exaggerating potential returns. ...
Facebook’s libra coin a catalyst for reform, Swedish central bank chief says

Facebook’s libra coin a catalyst for reform, Swedish central bank chief says

Finance
Facebook's proposed cryptocurrency libra has served as an incentive for global central banks to reform and reflect the digital age, the head of Sweden's central bank has said."It has been an incredibly important catalytic event to sort of shake the tree when libra showed up out of the blue, and that forced us to think hard about what we do," Stefan Ingves, governor of the Riksbank, told CNBC's "Squawk Box Europe" on Tuesday."Part of my job is to produce a good/service called the Swedish krona which is convenient to use for Swedish citizens, and if I'm good at that in a technical sense then I don't have a problem," Ingves said. "But if I were to start issuing 20-kilo copper coins the way we did in 1668, then we soon would be out of business."The Riksbank has been exploring the potential iss...
New £1 coin hits one billion landmark

New £1 coin hits one billion landmark

Business
The billionth new £1 coin has rolled off the Royal Mint's production line, as shoppers and retailers prepare to bid farewell to the 'round pound'.The new 12-sided pound coin entered circulation in March and boasts high-tech security features to combat counterfeiting.Around one in every 30 £1 coins in people's change in recent years has been fake.Exchequer Secretary to the Treasury Andrew Jones, who is visiting the Royal Mint's headquarters in Wales to mark the one billion milestone, said: "This coin is the most secure of its kind in the world and was brought in to clamp down on the multimillion-pound cost of counterfeits."Video:New £1 coin is most secure ever: MintMeanwhile, people are being urged to spend, bank or donate their 'round pounds' to charity before they lose their legal tender ...
Mark Cuban, who just called bitcoin a bubble, says he plans to invest in another digital coin

Mark Cuban, who just called bitcoin a bubble, says he plans to invest in another digital coin

Finance
Bitcoin skeptic Mark Cuban is looking to take part in one of the hottest trends in the digital currency world right now: the initial coin offering. One of the companies Cuban is invested in, Unikrn, is planning its own offering, and digital currency news site CoinDesk said Thursday that the billionaire entrepreneur intends to participate.Cuban confirmed the report in an email to CNBC. "I want to learn more about them," he said.I "haven't signed the paperwork yet. But it's likely it will happen," he added. An initial coin offering is a fundraising process for blockchain-based projects that allows investors to own part of a project through a digital network token. Start-ups in the blockchain world often find this method of fundraising more attractive than venture capital funding for the spee...