By CCN: The feverish Bitcoin price rally appears to be spilling over into the stock market, where ice-cold blockchain stocks are once again showing signs of life - and investor FOMO. Bloomberg's Bailey Lipschultz notes that at least one penny stock has capitalized on the recent Bitcoin bull market. MGT Capital Investments Inc. - yep, the one with the John McAfee connection - announced it's...
Being a crypto company isn't as easy as it looks. Just ask Riot Blockchain, a Nasdaq-listed company that was previously known as Bioptix. Riot is the subject of an audit in which "material weakness" was discovered in their financial reporting, according to a U.S. SEC filing. As of year-end 2018, Riot had a cash war chest of $225,000 versus nearly $42 million when the bitcoin price was at its peak...
As Bitcoin’s sudden rally higher captures the world’s attention, it is not only the cryptocurrency investment that is racing back into the light. Any company associated with BTC is experiencing a green day, and naturally, Riot Blockchain (RIOT) is no exception. Despite fading a lot of its daily gains, the crypto mining outfit is still up more than 20%, outperforming most cryptocurrencies. Riot...
Riot Blockchain, a former biotech firm turned bitcoin-mining company, expects to launch a regulated cryptocurrency exchange by the end of the second quarter of 2019, or June 30. The company is initially investing up to $250,000 to make this roll-out happen. Riot Blockchain made the revelations in a March 14 filing with the Securities and Exchange Commission. The company formed a subsidiary called...
Back in September, biotech billionaire Phillip Frost and eight other individuals were charged by the SEC for a penny stock scheme deemed fraudulent. Frost was not at the core of the scheme, which involved buying up penny stocks and effectively pumping their value only to dump them at massive profits. Overall, before they were caught, they netted around $27 million. The line is very fine when it...
Update 9/12: Coinsquare said that the partnership agreement with RiotX has been canceled and that the Canada-based firm will not power Riot's planned cryptocurrency exchange. A company representative declined to comment further. The original article is included below: As cryptocurrency trading goes, U.S. residents have access to an enviable array of exchanges and investing platforms. Though...
Two of the blockchain hype bubble’s flagship companies now find themselves with new captains at their respective helms, after their CEOs stepped down days after being charged by U.S. regulators with perpetrating a $27 million penny stock scam. Riot Blockchain, MGT Capital CEOs Named in SEC Complaint John O’Rourke, who until this week led biotech-turned-cryptocurrency company Riot Blockchain, and...
Today's $1,000 bitcoin price rally aside, the cryptocurrency market might be enduring a bear cycle triggered by vanishing consumer interest, but blockchain, it seems, is still big business -- particularly in China. Citing government data sourced from Chinese-language outlet Qixin, the South China Morning Post reports that, from Jan. 1 to July 16, 3,078 China-based companies have filed to include...