Tech

El Salvador’s bitcoin digital wallet beset by technical glitches

Editorial Bureau September 11, 2021

SAN SALVADOR (Technology) – For a fourth day in a row technical glitches have beset the Salvadoran government’s bitcoin digital wallet Chivo, a setback that could discourage residents from signing up to the app promoted by President Nayib Bukele. (Content and Photos Syndicate via Reuters)

Tech

Exclusive-U.S. Treasury, financial industry discuss cryptocurrency ‘stablecoins’

Editorial Bureau September 11, 2021

WASHINGTON (Technology) – The U.S. Treasury Department met with a number of industry participants this week to quiz them about the risks and benefits posed by stablecoins — a rapidly growing type of cryptocurrencies, the value of which is pegged to traditional currencies, according to three people with direct knowledge of the meetings. (Content and […]

Finance

Bitcoin battered after dismal debut as legal tender in El Salvador

Editorial Bureau September 8, 2021

TOKYO (JAPAN) – Bitcoin suffered from its wounds on Wednesday, a day after its heaviest losses in 2-1/2 months as El Salvador’s historic adoption of the crypto asset as legal tender caused chaos online and on the street. The coin last traded at $46,560, having endured wild trade the day before in which it hit […]

Articles

Elon Musk: Beyond Terrestrial

Beth Cooper July 26, 2021

Elon Musk’s life has been voluminous, so much that it can never be bound by a single echelon, regardless of his denomination or accomplishments. Musk garnered attention across the globe, once he stepped into the feisty universe of Tesla Inc, as its CEO. His prowess and relentless spirit have prompted him to not just lay […]

Finance

In El Salvador’s bitcoin beach town, digital divide narrows down

Editorial Bureau June 14, 2021

PLAYA EL ZONTE (EL SALVADOR) – The El Salvadoran beach town of El Zonte is visibly poor, with dirt roads and a faulty drainage system. But in one way, it’s ahead of the rest of the country: It has bitcoin. The tropical surfing spot’s basic infrastructure offers a glimpse of the potential pitfalls to popularising […]

Finance

AMC shares drop but end week up 116% after 4-day gain

Editorial Bureau May 29, 2021

Shares of movie theater chain AMC Entertainment closed lower on Friday, snapping a four-day rally that saw them gain 116% on the week. After vaulting to a record high during the session, AMC’s shares finished down 1.5% at $26.12. The stock’s weekly gain was its largest since January. Shares in GameStop, meanwhile, closed down 12.6% […]

Finance

Cryptos slips as bounce momentum retreats

Editorial Bureau May 27, 2021

SINGAPORE – Cryptocurrencies saw a slip on Thursday, however, it did not fall through recent lows. Enough traders held onto hopes that the asset class can find its way back from last week’s plunge. Bitcoin dropped 4% in Asia to about $37,600 and the next biggest crypto token, ether, was down 7.5% at $2,676 – […]

Finance

Conciliatory policies languish US dollar, Asian stocks surge

Editorial Bureau May 26, 2021

SHANGHAI (CHINA) – In order to reassure investors worried about the prospect of rising inflation, US Federal Reserve officials reaffirmed a dovish monetary policy stance. However, the result was a surge in Asian shares while US dollar languished. European share markets were set to follow suit, with pan-region Euro Stoxx 50 futures up 0.37% in […]

Finance

Bitcoin climbs back and gains footing

Editorial Bureau May 24, 2021

LONDON (UK) -Cryptocurrencies fought back on Monday, clawing back ground after a bout of weekend selling fuelled by further signs of a gathering Chinese crackdown on the emerging sector. Bitcoin climbed as high as $37,391 after falling some 7.5% a day earlier, and was last up 5%. Second-largest cryptocurrency ether jumped more than 10% to […]

Finance

Dollar at three month low, world stocks steady

Editorial Bureau May 21, 2021

LONDON (UK) – Amid US data tempering inflation fears, world stocks steadied after a volatile week, taking their lead from a stronger Wall Street. while the dollar approached three-month lows on reduced bets of early Federal Reserve rate hikes. Inflation worries have spooked markets after recent data, and Fed minutes on Wednesday suggested a possible […]