2.0000 +0.02 (1.01%)
Pre-Market: 8:18AM EDT
|Bid||1.9100 x 1000|
|Ask||2.2000 x 1800|
|Day's Range||1.8719 - 2.1000|
|52 Week Range||1.2900 - 8.5550|
|Beta (3Y Monthly)||3.59|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
(Bloomberg) -- This week’s jump in Bitcoin prices revived themes well known to the digital currency that inflated then burst less than two years ago. Among them: enormous volatility, and exchange overloads.Bitcoin soared as much as 39% this week to $13,852, the highest since January 2018. But it hit a brick wall around 4:30 p.m. New York time Wednesday, plunging more than $1,800 within about 10 minutes. Moments later, prominent cryptocurrency exchange Coinbase Inc. reported an outage on its consumer site, which was resolved in under an hour. Swings continued Thursday, with the coin anywhere from down 15% to up 4.8%.It was down 15% to $11,111 as of 12:23 p.m. in New York. Volatility in Bitcoin is near the highest levels since early 2018, when the bubble was bursting. Analysts said this was likely a sign of things to come.“A 20%-30% pullback would not be surprising and very consistent with Bitcoin’s recent bull-market pullbacks,” Robert Sluymer, technical strategist at Fundstrat Global Advisors, wrote in a research note.New ProjectsThe most widely traded digital currency has rebounded after a slump lasting more than a year as major multinational corporations announce new projects in the industry. Facebook Inc. unveiled plans for a so-called stablecoin called Libra to launch next year. PricewaterhouseCoopers LLP said on Wednesday it had added cryptocurrency auditing to its services. And JPMorgan Chase & Co. said it is seeing interest from clients in a prototype digital coin to speed up trading of securities such as bonds.“Regardless of how successful Libra will be, the one thing that it’s been successful in doing is bringing attention back to Bitcoin,” said Zennon Kapron, managing director of financial technology consulting firm Kapronasia and author of a book on Bitcoin in China.Equities are getting in on the act, as well. Some stocks that had been popular proxy bets on the Bitcoin boom in 2017 rallied again this week, with Nvidia Corp, a maker of the graphics processing units popular among miners, advancing 4.9% since the start of the week. Riot Blockchain Inc, which changed its name to capitalize on the interest in distributed ledger technologies, rose 38% during the same period. Some cryptocurrency-linked stocks in Asian markets also made gains.Richard Ross, head of technical analysis at Evercore ISI, said if Bitcoin could break through its current resistance level at $14,100, its next resistance is around $17,400. He attributed the recent gains to dovish signals from global central banks.“The ‘problem’ with Bitcoin is not Bitcoin itself, but rather the backdrop which has given rise to this incendiary second act” -- more monetary easing and bonds with negative yields, he said.Read about how Bitcoin’s rally feels like 2017 but isn’t quite the same.(Clarifies outage details in the second paragraph. An earlier update corrected a time reference in the second paragraph.)\--With assistance from David Scheer.To contact the reporters on this story: Gregor Stuart Hunter in Hong Kong at email@example.com;Olga Kharif in Portland at firstname.lastname@example.orgTo contact the editors responsible for this story: Christopher Anstey at email@example.com, Joanna Ossinger, Dave LiedtkaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Stocks with exposure to bitcoin are rallying in pre-market trading after the cryptocurrency traded above $11,000 for the first time in 15 months.Crypto-linked securities with pre-market gains include: Grayscale Bitcoin Trust BTC, which is gaining 7.8%; Riot Blockchain Inc., which is up 4.8%, DPW Holdings Inc. which is rising 6.7%, and Marathon Patent Group, up 3.7%.Some have suggested bitcoin is benefiting from new optimism as Facebook Inc. has decided to push into cryptocurrencies with its new coin, Libra.To contact the reporter on this story: Felice Maranz in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Catherine Larkin at email@example.com, Richard RichtmyerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Every investor in Riot Blockchain, Inc. (NASDAQ:RIOT) should be aware of the most powerful shareholder groups...
Federal authorities have launched a criminal investigation into a group of "microcap fraudsters" that may include the former chief executive of Riot Blockchain, the cryptocurrency company that was the subject of a CNBC investigation last year, according to court documents. The investigation is parallel to an SEC civil case against the alleged "fraudsters," and more details of the criminal investigation are currently unknown.
Bitcoin’s market share as a percentage of the entire crypto universe has surged in 2019, leading many penny stock firms to resume mining operations.
"The parties do not believe there is a possibility of prompt settlement of this case," says a Tuesday court filing signed by all parties. The SEC already settled in full or in part with nine defendants, including Miami biotech billionaire Phillip Frost, according to court filings. A settlement in principle for Florida businessman Barry Honig now appears to be off the table, according to a filing on Tuesday in the case that was signed by all parties.
Florida businessman Barry Honig plans to settle charges in what the SEC called "classic pump-and-dump schemes," according to a motion filed Friday.
“This week, Defendant Honig and the Commission staff reached an agreement in principle to settle the Commission’s claims for liability," the SEC said in a motion. The SEC charged 19 others along with Honig in September. The SEC lready settled in full or in part with nine defendants, including Miami biotech billionaire Phillip Frost, according to court filings.
Riot Blockchain, the cryptocurrency company whose stock skyrocketed after changing its name, announced what it called "material weaknesses" in internal control over financial reporting and an adverse auditor report in its latest annual report.
(Bloomberg) -- Crypto-tied stocks, the former market darlings that quickly languished when the Bitcoin bubble burst, are showing signs of reawakening.
PolarityTE said the SEC subpoenaed it earlier this month for documents related to any promotion of the company or its securities, among other items.
Riot Blockchain, a cryptocurrency company, announced a new CEO and other leadership changes. Riot has announced three CEOs and one interim CEO since changing its name and business plan in October 2017. Riot Blockchain RIOT announced a new CEO and other leadership changes in a press release Tuesday evening.
Frost will pay $5.5 million to the SEC and is permanently barred from participating in an offering of a penny stock, with exceptions, according to court documents. Opko Health also agreed to a proposed settlement, according to court documents. Frost and Opko Health neither admit nor deny the SEC's allegations, according to court documents.
Riot Blockchain (RIOT) needs investors to pay close attention to the stock based on moves in the options market lately.
The cryptocurrency sell-off continued this week after Bloomberg reported the U.S. Department of Justice and the U.S. Commodity Futures Trading Commission are investigating cryptocurrency market price manipulation. The DoJ and the CFTC have been coordinating on a criminal probe of Bitcoin, Tether and crypto exchange Bitfinex and their possible role in driving last year’s cryptocurrency market bubble. Sources familiar with the probe said the DoJ is investigating whether or not traders illegally pumped up the price of bitcoin in late 2017 by using USDT to strategically buy and sell bitcoin based on inside information.
The cryptocurrency company whose stock skyrocketed after changing its name, revealed that the SEC subpoena and investigation are "still ongoing," according to its most recent quarterly filing. Riot says it is “fully cooperating” with the SEC, according to the latest filing. Riot Blockchain RIOT , the cryptocurrency company whose stock skyrocketed after changing its name, revealed that the Securities and Exchange Commission subpoena and investigation are "still ongoing," according to its most recent quarterly filing.
Nespresso, part of food giant Nestle (NESN.S), aims to use sustainable aluminium in all of its coffee capsules by 2020 under a deal with mining major Rio Tinto (RIO.L) (RIO.AX) announced on Monday. Both companies have faced criticism for adding to pressure on the planet, with campaigners saying Nespresso coffee machines are wasteful and many of the used capsules end up in landfill. Under the deal, Anglo-Australian Rio Tinto will supply aluminium produced with renewable power and respect for biodiversity to Nespresso, the world leader in the coffee pod market.
Investors need to pay close attention to Riot Blockchain (RIOT) stock based on the movements in the options market lately.
EDITOR'S NOTE: The following is an excerpt of part two of an investigation into financier Barry Honig and several associated parties. When financier Barry C. Honig was waging a proxy fight for control of the company that became Riot Blockchain Inc. (NASDAQ: RIOT), he demanded that it return excess capital to shareholders through a special dividend.
The blockchain is one of the most powerful innovations of the last several decades. Riot Blockchain (NASDAQ:RIOT), however, is nearly an unmitigated disaster. Right before the weekend, RIOT stock closed down more than 24%.