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Looking to get involved in ‘the future of money,’ a former Fed governor, who was also a finalist to head the U.S. central bank, thinks the idea of a state bank-issued digital currency deserves serious consideration. FedCoin: Just an Idea, for Now Kevin Warsh was a Federal Reserve...
Mastercard released their 2018 Q1 financial results on May 2 showing record first-quarter net income of $1.5 billion and revenue of $3.6 billion. They attributed some of this success to the December and January boom in cryptocurrency prices as they expect results to drop following the recent bear market....
The Israeli Supreme Court reached a decision today in support of local cryptocurrency exchange Bits of Gold. The temporary court order was issued by the Court to one of Israel’s largest financial institutions, Leumi Bank. Generally speaking, the decision means banks are required to permit cryptocurrency trading, and...
Banks will never be fans of Bitcoin. The concept of it alone is the complete opposite of a bank’s business model which is to make profits from other people’s money. Britain’s biggest bank today took the step of banning its customers from buying Bitcoin using their credit cards....
Deutsche Bank lead strategist Jim Reid believes the reign of fiat money could soon end and cryptocurrencies like bitcoin could take over the global financial market. In a recently released research paper, Reid delve extensively into the unstable fiat currency system and firmly stated that the fiat currency...
Banks around the world have always had an uneasy relationship with Bitcoin companies. Banks do not like Bitcoin and vice versa. A financial institution was never able to legally deny service to a cryptocurrency company before, though. That has now come to change in Israel, thanks to a...
The past few weeks have been quite exciting for the Abra team. The bitcoin-based money transfer service continues to add a lot of support for US bank accounts and credit unions. Not too long ago, the list had grown to over 50 US banks, which is quite impressive....
Bank ATMs have been attracting criminals from all over the world. Emptying these machines can be done in various ways, although careless fraud is becoming more prevalent. Cardless ATM transactions are the prime reason why criminals have a much easier time as of late. Once criminals obtain stolen...
The cryptocurrency community is elated to see the price of Bitcoin hit the roof. But the scene isn’t so rosy for many Italian investors who decided to trust the country’s fiat economy and invest in one of the country’s leading banking institutions— Monte dei Paschi. Italy has been...
The year 2016 has been filled with multiple banks getting hacked. One of those intrusions has gone by virtually unnoticed. Turkey’s AKbank, one of the largest institutions in the country, may find themselves liable for up to $4m in damages. The bank suffered a major attack on the...
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