• U.S. Court House and Post Office, 312 N. Spring St. Downtown Los Angeles
    Tether

    Bitfinex, Tether parent seeking court help with seized $880 million

    The company that owns cryptocurrency exchange Bitfinex wants a California federal court’s assistance in retrieving money taken by the U.S., U.K., Poland, and Portugal

    The parent of cryptocurrency exchange Bitfinex and stablecoin-issuer Tether has asked a federal court to help it get back $880 million lost to an alleged con man.

  • Igor Pejic, author of "Blockchain Babel" (publicity photo).
    Technology

    In ‘Blockchain Babel,’ a warning for banks and FinTechs

    Igor Pejic’s new books sees blockchain bringing misunderstanding, opportunities, and looming threats to the financial sector

    If there’s one theory at the heart of Igor Pejic’s new book, “Blockchain Babel: The Crypto Craze and the Challenge to Business,” it is that when it comes to using blockchain technology to remake the banking business, neither the financial institutions looking to maintain their dominance nor the FinTech firms trying to topple them understand each other, or how much they need each other.

  • Screen shot of Mastercard CEO Ajaypal Banga on CNBC, March 29, 2019.
    Technology

    Mastercard, Bank of America CEOs leery of blockchain

    While still interested the distributed ledger technology, the finance leaders called blockchain’s use case unproven

    The CEOs of Mastercard and Wells Fargo echoed skeptical comments on the utility of blockchain technology made earlier this week by Bank of America’s head of technology. Speaking to CNBC on March 28, Wells Fargo CEO Tim Sloan said that while ignoring blockchain would be a “bad idea,” the technology has been “way oversold.” Mastercard CEO Ajaypal Banga added that blockchain technology has “interesting possibilities,” but said that “the business model is not proven.”

  • anonymous
    Bitcoin,  Cryptocurrencies,  Ethereum,  Media,  People,  Tether,  United States

    Bitfinex’ed tells (almost) all about Tether: The Modern Consensus interview

    Anonymous critic of Tether and Bitfinex explains why bitcoin is headed to $15

    As pressure mounts on Tether, its harshest critic—the anonymous “Bitfinex’ed”—does an interview with Modern Consensus. Reveals how he—or she—first started investigating Bitfinex and Tether. Claims 2016 hack of 120,000 bitcoins on Bitfinex was an inside job at the highest levels. Argues almost nothing backs up billions in outstanding Tether tokens; suspects recent reports were a “forgery.” Presents bleak view of cryptocurrency and blockchain’s future. Justifies a $10 to $15 price target for bitcoin (yes, you read that right).   The vice is tightening on Tether and that could have devastating repercussions on the $200 billion cryptocurrency market. Though over $2 billion worth of the “stablecoin” is circulating, it has an…