The World Bank warned and compared cryptocurrencies to “Ponzi schemes”. The warning is the the latest financial voice to raise questions about the legitimacy of digital currencies such as Bitcoin. “In terms of using Bitcoin or some of the cryptocurrencies, we are also looking at it, but I’m told the vast majority of cryptocurrencies are […]
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Britain’s biggest lender, Lloyds Banking Group Plc, has disclosed that it would ban its credit card customers from buying crypto currencies. Reuters reported on Monday that the development, which followed the lead of U.S. banking giants JP Morgan Chase & Co (JPM.N) and Citigroup (C.N), is aimed at protecting customers from running up huge debts […]
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Several international bankers have sounded a warning about the mega risks involved in embracing bitcoin, which this week soared to a new record high of more than $8,000. Six years ago, it traded for just one dollar. “It’s the exact definition of a bubble,” the head of Swiss banking giant Credit Suisse, Tidjane Thiam, warned […]
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A Nigerian named Daniel Onowugbeda has cried out to the Economic and Financial Crime Commission (EFCC), to help him track and arrest an alleged fake bitcoin seller who duped him. Going by Daniel’s statement, he wanted to buy Bitcoins, so he was introduced to these guys on Twitter @BuyBitcoinsNg, who in turn asked him to pay […]
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