Jamie Dimon says he’s not going to talk about bitcoin anymore

  • During Citigroup’s earnings call Thursday, Chief Financial Officer John Gerspach said, “We think the area of cryptocurrency and digital currency is an area worthy of exploration.”
  • Gerspach said Citi’s labs in Tel Aviv and Dublin are looking at digital currencies, cryptocurrencies and blockchain.
  • Another digital currency, ethereum, traded mildly higher near $307.
  • Many digital currency enthusiasts see ethereum as the foundation for the next generation of the internet.
  • The bank then became a founding member of the Enterprise Ethereum Alliance in February, and partnered with the developers of privacy-focused digital currency Zcash in May.

After the CEO of JPMorgan Chase caused a stir by calling bitcoin a ‘fraud’ last month, he says he’s not commenting any further.
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Jamie Dimon says he’s not going to talk about bitcoin anymore

  • Jamie Dimon, chairman and CEO of JPMorgan Chase, said he is no longer going to discuss bitcoin after his comments last month that the digital currency was a “fraud” caused quite the stir on Wall Street and Silicon Valley.
  • But I’m not going to talk about bitcoin anymore,” said Dimon in response to a question during the bank’s third-quarter earnings call with media on Thursday.
  • JPMorgan CFO Marianne Lake then took over the conversation.
  • “We are open-minded for digital currencies that are properly controlled and regulated,” she said, also discussing the potential merits of blockchain, the technology behind bitcoin.

After the CEO of JPMorgan Chase caused a stir by calling bitcoin a ‘fraud’ last month, he says he’s not commenting any further.
Continue reading “Jamie Dimon says he’s not going to talk about bitcoin anymore”

‘THIS IS NOT A DRILL:’ A Hacker Allegedly Stole $32 Million in Ethereum

[NEWS] THIS IS NOT A DRILL: A Hacker Allegedly Stole $32 Million in #Ethereum

  • According to a post by Parity founder Gavin Wood in the official chat channel for Parity, an ethereum client, a “critical” vulnerability in Parity led to at least three accounts being compromised by a hacker for a total loss of $31,725,019 USD worth of ether.
  • Specifically, Wood wrote, the vulnerability affected the contract used to create multi-signature ethereum wallets in Parity 1.5, the latest release.
  • There are ongoing efforts to secure funds in other potentially vulnerable wallets, Wood wrote, but those folks “will make an announcement in their own time.”
  • In other words, there may be other wallets affected by the hack than the three cited by Wood, but it’s not yet clear which were cleaned out by thieves, and which had their funds funneled out by good-guy hackers who may return them later.
  • As for a fix, Wood wrote in the Parity chat that the team will be releasing a fix “ASAP,” but in the meantime advised users with multi-signature wallets created with Parity to move their funds to a secure address.

It’s the second alleged hack this week.
Continue reading “‘THIS IS NOT A DRILL:’ A Hacker Allegedly Stole $32 Million in Ethereum”

‘THIS IS NOT A DRILL:’ A Hacker Allegedly Stole $32 Million in Ethereum

'THIS IS NOT A DRILL:' A hacker allegedly stole $32 Million in ethereum:

  • According to a post by Parity founder Gavin Wood in the official chat channel for Parity, an ethereum client, a “critical” vulnerability in Parity led to at least three accounts being compromised by a hacker for a total loss of $31,725,019 USD worth of ether.
  • Specifically, Wood wrote, the vulnerability affected the contract used to create multi-signature ethereum wallets in Parity 1.5, the latest release.
  • There are ongoing efforts to secure funds in other potentially vulnerable wallets, Wood wrote, but those folks “will make an announcement in their own time.”
  • In other words, there may be other wallets affected by the hack than the three cited by Wood, but it’s not yet clear which were cleaned out by thieves, and which had their funds funneled out by good-guy hackers who may return them later.
  • As for a fix, Wood wrote in the Parity chat that the team will be releasing a fix “ASAP,” but in the meantime advised users with multi-signature wallets created with Parity to move their funds to a secure address.

It’s the second alleged hack this week.
Continue reading “‘THIS IS NOT A DRILL:’ A Hacker Allegedly Stole $32 Million in Ethereum”

UK dealer charged in US over multimillion-dollar fake Bitcoin site scam

  • The Securities and Exchange Commission (SEC) alleged “the clandestine” Renwick Haddow, a UK citizen living in New York, diverted funds invested in a phoney Bitcoin site as well as from a flexible workspace firm Bar Works into accounts in Mauritius and Morocco, totalling $5m.
  • Andrew Calamari, director of the SEC’s New York office, said: “Haddow created two trendy companies and misled investors into believing that highly qualified executives were leading them to quick profitability.”
  • Haddow’s investors pumped more than $37m into Bar Works, which claimed to provide workspaces in old bars and restaurants, but in fact “primarily sold leases coupled with sub-leases that together functioned like investment notes”, the SEC said in a statement.
  • The commission alleged that throughout Haddow was “hiding his connection” to the companies “given his checkered past with regulators in the UK”, where he has faced similar charges for investment schemes.
  • According to a report in Crain’s, 27 investors from China filed suit in the state supreme court on 16 June seeking repayment of more than $3m invested in Bar Works, which they called a Ponzi scheme.

Renwick Haddow created ‘trendy’ companies and duped investors into thinking they were big successes, authorities in New York allege
Continue reading “UK dealer charged in US over multimillion-dollar fake Bitcoin site scam”

UK dealer charged in US over multimillion-dollar fake Bitcoin site scam

  • The Securities and Exchange Commission (SEC) alleged “the clandestine” Renwick Haddow, a UK citizen living in New York, diverted funds invested in a phoney Bitcoin site as well as from a flexible workspace firm Bar Works into accounts in Mauritius and Morocco, totalling $5m.
  • Andrew Calamari, director of the SEC’s New York office, said: “Haddow created two trendy companies and misled investors into believing that highly qualified executives were leading them to quick profitability.”
  • Haddow’s investors pumped more than $37m into Bar Works, which claimed to provide workspaces in old bars and restaurants, but in fact “primarily sold leases coupled with sub-leases that together functioned like investment notes”, the SEC said in a statement.
  • The commission alleged that throughout Haddow was “hiding his connection” to the companies “given his checkered past with regulators in the UK”, where he has faced similar charges for investment schemes.
  • According to a report in Crain’s, 27 investors from China filed suit in the state supreme court on 16 June seeking repayment of more than $3m invested in Bar Works, which they called a Ponzi scheme.

Renwick Haddow created ‘trendy’ companies and duped investors into thinking they were big successes, authorities in New York allege
Continue reading “UK dealer charged in US over multimillion-dollar fake Bitcoin site scam”