Sergio Ermotti, the CEO of Swiss banking giant UBS, told CNBC that he believes Blockchain technology will “likely reshape” the way that banks do business. UBS is already heavily invested in the new technology, partnering in the Batavia project with IBM, Bank of Montreal, and others. The statement does not come as a surprise, as companies and institutions have been rushing into the Blockchain space in order to increase efficiency and decrease costs. According to Ermotti: "Our strategy there is very simple. We try to initiate and get as many other financial institutions and clients into teams like trade finance …

A US Homeland Security official has said Bitcoin is “a lot more legitimate” as dark web users move away from the virtual currency. Speaking in an interview with CNBC, the unnamed official said criminals were shying away from Bitcoin as law enforcement was “getting a lot better” at tracking them. "I think [Bitcoin]'s a lot more legitimate than people give it credit for," the official added. The issue of Bitcoin’s anonymity has long been a sticking point for illegitimate actors operating via the dark web, with more stealthy cryptocurrencies such as Monero seeing increasing numbers of Bitcoin refugees from the …

CNBC has advised viewers to buy Bitcoin at $3,600, indicating it considers the price a likely floor which will appear short-term. As part of the channel’s Fast Money segment, analyst Brian Kelly predicted Bitcoin price moving in a so-called ABC pattern. Bitcoin had reached a high of $4,478 according to Coinmarketcap, before retracing to around $4,000 and correcting upwards to $4,300. Going forward, Kelly says, a further correction to that witnessed Thursday would see the price ‘bottom out’ at $3,600. “I’m still in [Bitcoin],” he continued, “but I would be looking to add positions at $3,600.” The art of predicting …

A recent report from CNBC has indicated that the amount of funds raised by ICOs had passed the total early stage VC funding for internet companies. In July alone, ICOs raised just over $300 mln, while the total for VC and early angel funding was just over $200 mln. According to ICOBox, the ICO startup platform, more than $1.3 bln has been raised via ICOs. #ICO market is undergoing explosive growth: since the start of 2017 companies developing various #blockchain projects raised $1.366 billion. — ICObox (@icobox_io) August 11, 2017 The explosive growth through 2017 has pushed ICOs past the …

Litecoin Founder Charlie Lee recently shared with CNBC his position in the controversial Bitcoin split. In the interview, Lee brushed off any worries and anxiety regarding Bitcoin Cash’s coming into the picture of growing alternative cryptocurrencies. When asked about how Litecoin is playing into the mix, Lee said the split is not a big concern for Litecoin, but more towards the original Bitcoin. Lee says: “I don’t see it really as a threat to Litecoin and it’s causing more confusion to Bitcoin than anything.” Litecoin advantage Meanwhile, with the advent of so many cryptocurrencies, Lee shared Litecoin advantage over the …