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Allianz Global Investors Chief Calls for Cryptocurrency Ban

Andreas Utermann, chief executive officer and global chief investment officer of Allianz Global Investors, has said cryptocurrencies should be banned by regulators. According to a report from Reuters on Tuesday, Utermann was speaking during a panel discussion in London alongside Andrew Bailey, chief executive of U.K.’s Financial Conduct Authority (FCA). He said, “You should outlaw [crypto assets],” because… Read More »

Romper Room to White Linen: Saying Goodbye to Crypto’s Infant Anarchy

Sheila Bair is an advisor to Omniex, a technology company providing services to institutional investors, and a board member of the Paxos Trust, a regulated trust company developing blockchain technology. She does not own crypto assets. The views expressed are her own. The following is an exclusive contribution to CoinDesk’s 2018 Year in Review.  When our children were small,… Read More »

Kraken Is Seeking ‘War Chest’ Investment at a $4 Billion Valuation

Crypto exchange Kraken is on a fundraising drive, offering “select” investors a chance to purchase stakes in the firm. CEO Jesse Powell confirmed to CoinDesk that his company is looking to tap a small number of clients for a fundraising round valuing the firm at $4 billion. “There is presently a limited time opportunity available to a very… Read More »

Cheap Power Is Luring Battered Bitcoin Miners to Iran

While some bitcoin miners are estimated to have shut down hundreds of thousands of machines – if not more – others are still out there looking for alternative ways to keep operating. And it’s Iran, with its extremely low-cost electricity (that can go as low as $0.006 per kilowatt-hour) that’s luring overseas miners. But as attractive as it appears,… Read More »

10-Year Jail Term Sought for Former Mt Gox CEO Mark Karpeles

Japanese prosecutors are seeking a 10-year sentence for Mark Karpeles, the former chief executive officer of now-bankrupt bitcoin exchange Mt. Gox. According to a report from The Mainichi on Wednesday, prosecutors claimed at the Tokyo District Court that Karpeles used customers’ funds for his own personal use. He reportedly transferred 341 million yen (or $3 million) of customers’… Read More »

Payments Startup Bitwala Now Offers Crypto Banking in Germany

Germany-based crypto payments startup Bitwala is now offering bitcoin banking services in the country. Claiming to launch Europe’s “first” such banking solution, the firm announced Wednesday the service becomes available via a partnership with local fintech firm SolarisBank that has a banking license and thus is fully regulated. With the service, users can now manage both bitcoin and… Read More »

The Future of ICOs: In the Hands of Regulators or Innovators?

William Mougayar is the founder of Token Summit and author of “The Business Blockchain.” The following is an exclusive contribution to CoinDesk’s 2018 Year in Review.  What is the future of initial coin offerings (ICOs) as we look to a 12-month horizon? As an early supporter of ICOs (properly run), I’d like to offer a broad perspective on… Read More »

Gemini Launches New Mobile App for Crypto Traders

Crypto exchange Gemini has just launched a mobile wallet for its users. Gemini CEO and co-founder Tyler Winklevoss wrote in a Medium post on Tuesday that the new app allows customers to buy or sell cryptocurrencies, view market prices, see their own portfolio values and set price alerts, among other features geared toward traders. The exchange is working… Read More »

The CFTC Wants to Learn More About Ethereum

The U.S. Commodity Futures Trading Commission (CFTC) wants to learn more about ethereum, its technology, and the markets that have built up around it. In a “Request for Input” (RFI) published Tuesday, the regulator explains that it is looking for public feedback on different questions about ethereum, ranging from its technology to how it’s used. Respondents have 60 days… Read More »