With premarket trading in the green, including Dow Futures, US stock markets may be bound for a rise. But, trading confidence will be challenged by Wells Fargo and JP Morgan Chase earnings reports and the imminent Brexit vote. Big Bank Earnings Reports Roll In Beginning with Citibank parent Citigroup yesterday, earnings reports are starting to roll in from some of the biggest banks in the US...
US banking giant JPMorgan Chase Bank's blockchain, Quorum, will be used to "tokenize" gold bars. Quorum is the enterprise version of the Ethereum blockchain, developed by JPMorgan Chase, will ensure users operate smart contracts while using pre-programmed rules to automate them. The ethereum-based blockchain will afford sustainable miners the opportunity of earning a premium on the global market...
JPMorgan Chase & Co. is considering spinning off Quorum, its blockchain project, to improve the platform’s appeal as an independent entity, according to Reuters. The open source platform’s code is free and can be redistributed and modified. The plans, first reported by the Financial Times, are still in the early stages, according to a source. The bank released a statement saying it still...
Tom Lee, co-founder of Fundsrat Global Advisors, the only major Wall Street strategist covering bitcoin, sees a silver lining in bitcoin's current fallout and has raised his bitcoin price target from $11,500 to $20,000 for mid-2018,. Lee said bitcoin’s intrinsic value has increased over the last month due to the growth of new bitcoin wallets, and that Fundsrat is buying bitcoin as the price has...
Bitcoin is continuing its upward trajectory, hitting a record high above $11,000 this week. Yet, despite its rising value, hedge fund platforms are rejecting cryptocurrency funds as clients. Brooklands Fund Management, Mirabella Advisers and Privium Fund Management, which deliver regulatory help for investment firms, have all had discussions with bitcoin funds, reports Bloomberg. However, all...
Bitcoin could become a safe haven for investment professionals if the traditional monetary system collapses, says an analyst at prominent social trading platform eToro. Speaking to Russia Today, Mikhail Mashchenko, said: The demand for bitcoin is growing as the crypto market has become less volatile, and an increasing number of professional investors see it as insurance. His comments come at a...
Well, that didn't last long. Just one day after JPMorgan chief executive Jamie Dimon declared he was "not going to talk about bitcoin anymore," the vocal bitcoin critic broke his silence to go on another memorable rant about the flagship cryptocurrency. As reported by CNBC, Dimon unleashed a diatribe against bitcoin in response to a moderator question at an event hosted by the Institute of...
For the second time, in a matter of weeks, Jamie Dimon, CEO of JPMorgan Chase, has spoken out against cryptocurrencies and bitcoin. In an interview with CNBC-TV18 in New Delhi, India, Dimon said: Right now these crypto things are kind of a novelty. People think they're kind of neat. But the bigger they get, the more governments are going to close them down. Earlier this month, Dimon called...