Cryptocurrency enthusiasts thought big financial institutions would lend credibility to their work. But last year’s crash has cooled their interest. Source: NYT > Business – NATHANIEL POPPER
Bitcoin Tycoon Who Oversaw Mt. Gox Implosion Gets Suspended Sentence
Mark Karpelès, who ran the exchange that helped make the cryptocurrency a household name, was found guilty of falsifying data by a Japanese court. Source: NYT > Business – BEN DOOLEY
Facebook and Telegram Are Hoping to Succeed Where Bitcoin Failed
Even as cryptocurrency prices have plunged, several big tech companies are working on their own digital tokens for use in text messaging systems. Source: NYT > Business – NATHANIEL POPPER and MIKE ISAAC
JPMorgan Chase Tests Own Cryptocurrency, the First for a Big U.S. Bank
The firm’s new digital token, JPM Coin, is another step in Wall Street’s evolving approach to using blockchain, the technology behind digital currencies. Source: NYT > Business – MICHAEL J. de la MERCED and NATHANIEL POPPER
JPMorgan Chase to Be First Big U.S. Bank With Own Cryptocurrency, JPM Coin
Jamie Dimon, the bank’s chief executive, once called bitcoin a “fraud” and said any employee caught trading the digital currency would be fired for being “stupid.” Maybe it’s not so stupid anymore. Source: NYT > Business – MICHAEL J. de la MERCED
Cryptocurrency Was Their Way Out of South Korea’s Lowest Rungs. They’re Still Trying.
A generation of the young with dead-end social and economic prospects, calling themselves ‘dirt spoons,’ aimed to strike it rich. They’ve ended up with big losses. Source: NYT > Business