Finance

Kraft Heinz announced Friday that Warren Buffett will be retiring from its board when his term ends at the company’s upcoming annual meeting. In its statement, Kraft Heinz said Buffett decided to step down “as he decreases his travel commitments.” Alex Behring, chairman of the board, said Buffett made “many invaluable contributions” to the company.
0 Comments
“To support the speed, finality and sustainability required for business, we knew mining would be unsustainable because of its cost and (slow) transaction processing speeds,” said Chris Ferris, chief technology officer of open technology at IBM. Blockchain developer R3 has built its own energy-efficient blockchain for major financial institutions. They developed the permissioned blockchain Corda
0 Comments
Bitcoin (BTC) is the most important cryptocurrency. Most government-backed money that goes in and out of crypto goes through bitcoin, so what happens to the original cryptocurrency affects the entire market. The token’s market dominance stood at about 40 percent as of Wednesday. By my estimates, however, it’s clear bitcoin’s market dominance should return to
0 Comments
The Securities and Exchange Commission charged former cryptocurrency exchange BitFunder and its founder with fraud Wednesday. The regulator alleged that BitFunder and founder Jon E. Montroll ran the operation as an “unregistered securities exchange” and defrauded users of that exchange, according to a SEC statement. “Platforms that engage in the activity of a national securities
0 Comments
Venezuela’s oil-backed “petro” cryptocurrency raised $735 million in the first day of its pre-sale Wednesday, President Nicolas Maduro has claimed. The Venezuelan president said on Twitter that the petro token raised more than 4.777 billion Chinese yuan, or $735 million, and that the state-backed virtual currency “reaffirms our economic sovereignty.” Tweet Tweet Caracas said that
0 Comments
After seven years of restructuring that involved cutting thousands of jobs and bank branches, HSBC has turned itself around with profits rising more than 140 percent over the last year. But the job of strengthening the bank is not over, Chairman Mark Tucker said Wednesday, as the ever-changing global environment calls for a more agile
0 Comments
Bank of England Governor Mark Carney raised concern over extreme volatility in the world’s best known digital currency. “It has pretty much failed thus far on … the traditional aspects of money. It is not a store of value because it is all over the map. Nobody uses it as a medium of exchange,” Carney
0 Comments
Payments processors Worldpay and Visa said Friday they are reversing duplicate transactions that recently caused unauthorized withdrawals for some users of cryptocurrency exchange Coinbase. “Worldpay and Coinbase have been working with Visa and Visa issuing banks to ensure that duplicate transactions have been reversed and appropriate credits have been posted to cardholder accounts,” the two
0 Comments
The U.S. Securities and Exchange Commission said Friday it has temporarily suspended trading in three very tiny stocks due to questions about their cryptocurrency-related announcements. The companies announced in January that they each acquired several thousand trust units in a private equity fund called “NVC Fund” with investments related to blockchain and cryptocurrency. However, those
0 Comments
Getty Images Special counsel Robert Mueller (2nd L) leaves after a closed meeting with members of the Senate Judiciary Committee June 21, 2017 at the Capitol in Washington, DC. The defendants and their “co-conspirators” used the accounts opened at PayPal and “a federally insured U.S. financial institution” to receive and send money for buying advertisements
0 Comments
Russian stocks tumbled Friday afternoon after a federal grand jury indicted 13 Russian nationals and three Russian entities for alleged interference in the 2016 presidential election. The VanEck Vectors Russia exchange-traded fund (RSX), which tracks a host of publicly-traded Russian companies, fell 1.6 percent following news of the indictments. The fund is largely comprised of
0 Comments