George Soros to Trade Crypto, Bloomberg Says

Soros Fund Management is said to have recently approved cryptocurrency trading
06 April 2018   534

The family office of George Soros plans to start trading bitcoin and other digital assets, Bloomberg reports with reference to its own sources.

Responsible for macroinvestments in the Soros Fund Management Adam Fisher has already received the approval of the fund for trading cryptourrencies, although it has not yet started active investment in this direction.

The official representative of the fund, under whose management to date $ 26 billion, refrained from commenting.

George Soros became widely known in 1992, when he played against the pound sterling and received $ 1 billion in profits. He became the first American to earn so much in a year, and received the nickname "a man who humiliated the Bank of England."

In 2011, Soros Fund Management returned money to outside investors and became a family asset management office for the 87-year-old billionaire.

It is noteworthy that in January, Soros called bitcoin a typical "financial bubble," but noted that because of the influence of dictatorial regimes in different parts of the world, the collapse of the cryptocurrency is unlikely.

Japan to Tighten Regulation Due to Zaif Hack

$ 62 000 000 worth cryptocurrency was stolen from the Zaif exchange few weeks ago
25 September 2018   70

Hacking of Zaif exchange is the reason for toughening control over the market by the financial regulator of Japan, Reuters reports.

The first measure taken was administrative sanctions against the exchange and its operator Tech Bureau Corp. The Financial Services Agency (FSA) has expanded the list of requirements for the latter, pointing out the need to identify preventive measures and search for the organizers of the theft.

Shortly before that, researchers of the Japanese financial company Tech Bureau Corp could not provide details of the theft of $ 62 million from the Zaif crypto exchange at the request of the FSA. The Osaka-based operator had to investigate the causes, consequences of the theft and options for compensating the victims. According to the Agency, the financial company could not cope with the task.

According to the Tech Bureau, the exchange was hacked on September 14 within a few hours. The problem with the server was discovered by the site staff on 17 September. Official confirmation of the incident and notification of the authorities was made only a day later.

Recall, the theft of $ 60 million from the Japanese stock exchange Zaif caused a surge of volatility of bitcoin. For a short time the price was able to overcome the distance of $ 400.