Wells Fargo to Ban Cryptos Purchase on Its Credit Cards

Wells Fargo joined Citigroup Inc., JPMorgan Chase & Co. and Bank of America Corp., which also limited the purchase of cryptocurrency by using their credit cards
12 June 2018   714

Following a number of other major financial institutions in the US, the financial company Wells Fargo & Co announced the ban on the purchase of bitcoin and other crypto-currencies using its credit cards, Bloomberg reports.

While the ban on the purchase of crypto currency will act, Wells Fargo "will continue to evaluate the issue as the market evolves," said spokeswoman Shelley Miller.

Thus, Wells Fargo joined Citigroup Inc., JPMorgan Chase & Co. and Bank of America Corp., which also limited the purchase of cryptocurrency by using their credit cards in February, citing market volatility and credit risks.

As representatives of the organizations noted then, they are worried that they will be "hooked" if, by acquiring a crypto currency, the client loses money and can not repay the loan.

According to last year's research by LendEDU, approximately 18% of investors buying bitcoins used a credit card to purchase. Of these, 22% could not pay off the balance after buying the tokens.

Diffusion 2019 to Gather Crypto Hackers in Berlin

World most interesting tokenised protocol teams joined forces to create one of the biggest devconf in the world
20 September 2019   253

19th-20th October 2019, Berlin, one of the IT capitals of the world, will gather representatives of blockchain, AI, IoT and Big Data industries across the globe. 350 developers are going to test their skills, by hacking with 25m+ lines of open source code. Thousand of prizes awaits the winners.

This two-day event will focus on the practical application of open-source distributed ledger technology, smart contracts, machine learning and programmable tokens, to create a new data layer.
 

Diffusion

Diffusion 2019 Attendants
Diffusion 2019 Attendants

The conference will last for two days and is focused on the practical usage of open-source blockchain technology, machine learning, programmable tokens and smart contracts with a goal to create a new data layer. 

If you are not a skilled programmer, you will find what to do, Join panels, chats, workshops. Discuss the latest topics, such as token economics, blockchain for enterprise, AI, deep learning and more. Whether you are a dev, work in IT or tech industry, geek or just interested all that new - this is a place for you. You will be able to discuss things and share knowledge with lead developers, professors, start-upers and CEOs.

Part of Diffusion 2019 Attendants
Part of Diffusion 2019 Attendants

The event will take place at the Factory Berlin.

Hype.Codes team is happy to report that our journalist is going to the Diffusion 2019 too! Anton will provide you, our dear readers, with the freshest news and announces straight from the Factory.

Also, check out the latest conference's partnership with ETHBerlin.

And now the most interesting thing. You will be able to to take part in a hackathon for free!

Apply for free place at Hackaton now!

Not a coder, but still want to attend an event? 

Get your ticket here!