<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>AP Photo/Mary Altaffer</span></p><p class="caption">Rebecca Hollis of New Zealand drags her suitcases in a snowstorm through Times Square on her way to a hotel, Thursday, Jan. 4, 2018, in New York</p></div><p></p></div></div></p><p>Stocks finished the first trading week of 2018 in the green after the latest jobs report showed the <a href="https://ripplenews.tech/2018/01/05/breaking-western-union-moneygram-adopt-ripple-technology-soon/">unemployment rate held at a 17-year-low</a>.</p><p><strong>Here's the scoreboard as of Friday's close:</strong></p><ul><li><strong><a href="http://markets.businessinsider.com/index/dow_jones">Dow</a>:</strong> 25,291.80 (+0.86%)</li><li><strong><a href="http://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a>:</strong> 2,724.42 (+0.68%)</li><li><strong><a href="http://markets.businessinsider.com/index/nasdaq_100">Nasdaq</a>:</strong> 7,136.56 (+0.83%)</li></ul><p><strong>What happened:</strong></p><ol><li>The US economy<a href="http://markets.businessinsider.com/news/stocks/Jobs-report-misses-expectations-unemployment-rate-holds-at-17-year-low-1012520123"> created 148,000 jobs in December,</a> fewer than economists forecast.</li><li>The iced tea company that pivoted to blockchain is <a href="http://markets.businessinsider.com/news/stocks/long-island-iced-tea-company-to-buy-bitcoin-mining-machines-2018-1-1012525242">selling $8.4 million of shares to buy bitcoin mining machines.</a></li><li><a href="http://markets.businessinsider.com/news/stocks/deutsche-bank-falls-after-announcing-a-18-billion-tax-hit-2018-1-1012526737">Deutsche Bank falls after announcing a $1.8 billion tax hit</a>.</li><li><a href="http://markets.businessinsider.com/news/stocks/intel-stock-price-is-rising-after-saying-its-fixed-spectre-cpu-flaw-2018-1-1012526721">Intel is rising after saying it fixed the 'Spectre' CPU flaw</a></li></ol><p><strong>In other news…</strong></p><ul><li><a href="http://www.businessinsider.com/stock-market-news-goldman-sachs-how-to-make-money-with-higher-volatility-2018-1">GOLDMAN SACHS: Markets are about to get rocky - here's how to use that to your advantage.</a></li><li><a href="http://www.businessinsider.com/global-debt-his-record-233-trillion-debt-to-gdp-falling-2018-1">The world is swimming in a record $233 trillion of debt.</a></li><li><a href="http://markets.businessinsider.com/news/stocks/ripple-xrp-cryptocurrency-rises-on-report-western-union-plans-to-use-its-blockchain-2018-1-1012537803">Ripple's XRP jumps on unconfirmed report Western Union plans to use its services for money transfers.</a></li><li><a href="http://markets.businessinsider.com/currencies/news/bitcoin-miners-ditch-china-as-crackdown-on-cryptocurrencies-continues-2018-1-1012533774">Bitcoin miners are reportedly fleeing China because it is cracking down on cryptocurrencies</a>.</li></ul>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/chipotle-vs-qdoba-apple-bear-case-diagnosing-bitcoin-bubble-2017-12">THE BOTTOM LINE: Chipotle vs. Qdoba, the bear case on Apple, and diagnosing a bitcoin bubble</a></h3>        <div>                    </div>    </div>

STOCKS GO UP: Here's what you need to know

<p class="source"><span>Reuters/Lucas Jackson</span></p><p class="caption">People participate in a yoga class during an annual Solstice event in the Times Square district of New York, U.S.</p>Here is what you need to know. <p><strong><a href="http://www.businessinsider.com/oil-price-june-22-oil-below-45-2017-6?r=UK&amp;IR=T">Oil is on track for its worst first-half performance since 1997</a>. </strong>Oil has tumbled more than 20% so far in 2017.</p><p><strong><a href="https://www.businessinsider.com.au/the-kiwi-dollar-is-flying-after-the-rbnz-left-rates-unchanged-2017-6">The kiwi spikes after New Zealand's central bank keeps policy on hold</a>. </strong>The New Zealand dollar, often referred to as the "kiwi," is higher by 0.5% at .7260 against the dollar after the Reserve Bank of New Zealand held its key rate at 1.75%. The bank said that "<span>the growth outlook remains positive, supported by accommodative monetary policy, strong population growth, and high terms of trade."</span></p><p><strong><a href="https://www.businessinsider.com.au/iron-ore-is-on-winning-streak-that-hasnt-been-seen-in-years-2017-6">Iron ore is in the middle of its longest winning streak since December 2015</a>. </strong>The commodity has gained for six straight sessions, tacking on 6.5% over that time. </p><p><strong><a href="http://www.businessinsider.com/ethereum-price-flash-crash-2017-6">Ethereum flash-crashed</a>. </strong>On Wednesday afternoon, the red-hot cryptocurrency crashed from $296 to $13 before quickly recovering its losses. </p><p><strong><a href="http://www.businessinsider.com/report-snapchat-buys-zenly-2017-6">Snap reportedly bought an app that lets your track your friends</a>. </strong>In what appears to be one of its largest acquisitions ever, Snap paid as much as $350 million for Zenly, TechCrunch says. </p><p><strong><a href="http://www.businessinsider.com/oracle-stock-price-crushes-earnings-shares-spike-9-2017-6">Oracle crushes earnings, shares spike 9%</a>. </strong>The company earned an adjusted $0.89 per share on adjusted revenue of $10.94 billion, both well ahead of estimates.  </p><p><strong><a href="https://globenewswire.com/news-release/2017/06/21/1027468/0/en/Altice-NV-and-Altice-USA-Announce-Pricing-of-Altice-USA-s-Initial-Public-Offering.html">Altice USA prices its IPO</a>. </strong>The cable provider priced its initial public offering at $30 a share. It will trade under the ticker "ATUS."</p><p><strong><a href="http://markets.businessinsider.com/indices">Stock markets around the world are lower</a>. </strong>China's Shanghai Composite (-0.28%) lagged in Asia and France's CAC (-0.54%) trails in Europe. The S&amp;P 500 is set to open down 0.10% near 2,433.</p><p><strong>Earnings reports trickle out. </strong>Bed Bath &amp; Beyond and Sonic will both report after markets close. </p><p><strong>US economic data is light. </strong>Initial jobless claims will be released at 8:30 a.m. ET and the FHFA House Price Index will cross the wires at 9 a.m. ET. The US 10-year yield is down 2 basis points at 2.14%. </p>

10 things you need to know before the opening bell

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://markets.businessinsider.com/stocks/lbcc-stock"></a><p class="source"><span><a href="http://markets.businessinsider.com/stocks/lbcc-stock">Markets Insider</a></span></p></div><p></p></div></div></p><ul><li><strong><a href="http://markets.businessinsider.com/stocks/lbcc-stock">Long Blockchain</a>, formerly known as Long Island Iced Tea, received a second de-listing warning from Nasdaq for failing to maintain a market cap of $35 million.</strong></li><li><strong>The company on Tuesday announced a new CEO and plans to spin off its original iced tea business.</strong></li><li><strong>According to the company's balance sheets, it has no income or assets related to blockchain or cryptocurrency.</strong></li></ul><p><br /><a href="http://markets.businessinsider.com/stocks/lbcc-stock">Long Blockchain</a>, the iced tea company that <a href="http://markets.businessinsider.com/currencies/news/long-island-iced-tea-once-again-at-risk-of-being-de-listed-after-pivoting-to-blockchain-2018-1-1014475739">saved itself from being kicked of the Nasdaq stock exchange by pivoting to blockchain</a>, has a new CEO, as it once again faces a risk of being delisted.</p><p>On Tuesday, the company announced that Shamyl Malik, who previously ran the firm's blockchain efforts, will take over as CEO. It also announced plans to spin off its original beverage business into a separate company.</p><p>Malik previously worked in electronic FX trading in London for Morgan Stanley as well as Citigroup, before joining Long Blockchain's board in January. He will receive a salary of $250,000 per year, <a href="http://secfilings.nasdaq.com/filingFrameset.asp?FilingID=12563188&amp;RcvdDate=2/20/2018&amp;CoName=LONG%20BLOCKCHAIN%20CORP.&amp;FormType=8-K&amp;View=html">the company said</a>.</p><p>Last week, the company told shareholders it will appeal a second delisting notice from exchange operator Nasdaq for failing to keep its market value above $35 million. A hearing is set for Wednesday. Shares were down 5% in trading Tuesday at a price of $3.06 a share, giving the company a market cap of $27.98 million. The stock needs to stay above $3.42 a share to maintain a $35 million market cap. </p><p>"It was always our intention to spin off our beverage business following our shift to Blockchain technology and we believe that it is currently the appropriate time to take such action," outgoing CEO Phillip Thomas said in a statement.</p><p>"Shamyl has shown great initiative and leadership since joining the team, and his appointment as CEO and our planned spin-off will allow the Company to execute on a clear, focused Blockchain strategy."</p><p>The <a href="http://markets.businessinsider.com/currencies/news/long-island-iced-tea-company-pivots-to-blockchain-stock-explodes-2017-12-1011743880">blockchain pivot in December</a> provided an easy boost for Long Blockchain. The announcement spurred a near tripling of its share price overnight - but its financial documents paint a very different story.</p><p>According to its<a href="http://secfilings.nasdaq.com/filingFrameset.asp?FilingID=12378330&amp;RcvdDate=11/13/2017&amp;CoName=LONG%20BLOCKCHAIN%20CORP.&amp;FormType=10-Q&amp;View=html"> most recently filed balance sheet</a> from November, Long Blockchain owns no blockchain assets. However, it has announced plans to merge with a New Zealand firm called Stater Blockchain Limited, a "technology company focused on developing and deploying globally scalable blockchain technology solutions in the financial market," <a href="http://www.staterblockchain.com/" target="_blank" rel="noopener">according to its website</a>.</p><p>If the buyout is approved, Stater Blockchain would become a wholly-owned subsidiary of Long Blockchain. This means Long Blockchain would finally have tangible blockchain assets, including Stater's in-house currency futures brokerage.</p><p>In January, Long Blockchain <a href="http://markets.businessinsider.com/news/stocks/long-island-iced-tea-company-to-buy-bitcoin-mining-machines-2018-1-1012525242?utm_source=markets&amp;utm_medium=ingest">said it planned to buy 1,000 cryptocurrency mining machines</a>, before <a href="http://markets.businessinsider.com/news/stocks/long-blockchain-wont-buy-bitcoin-mining-rigs-2018-2-1014915316">quietly cancelling those plans less than a month later</a>. </p><p>The company's fourth quarter balance sheet - required of all public companies within 45 days of the quarter's end - is now one week overdue. </p><p>Neither Long Blockchain not Stater Blockchain responded to requests for comment.</p><p class="tagline"><div id="categorypromo" style="border:1px solid silver; min-height:90px; padding:10px;vertical-align:top;"><a href="http://read.bi/bitcoin-101-free"></a><strong>EXCLUSIVE FREE REPORT:</strong><br>The Bitcoin 101 Report by the BI Intelligence Research Team.<br><strong><a href="http://read.bi/bitcoin-101-free">Get the Report Now »</a></strong></br></br></div></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/suki-kim-north-korea-sent-hundreds-cheerleaders-olympics-2018-2">Why North Korea sent hundreds of cheerleaders to the Olympics</a></h3>        <div>                    </div>    </div>

The iced tea company that pivoted to blockchain is spinning off its beverage business as it once again risks being delisted

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>REUTERS/Gil Cohen Magen (ISRAEL)</span></p></div><p></p></div></div></p><ul><li><strong>During JPMorgan's investor day, CFO Marianne Lake said the company's blockchain initiative - the Interbank Information Network - was working. </strong></li><li><strong>Lake said other banks are looking to "join the party."</strong></li></ul><p>JPMorgan and crypto are a pair many might equate to oil and water. </p><p>The Wall Street giant's CEO - Jamie Dimon - famously <a href="http://www.businessinsider.com/bitcoin-price-jamie-dimon-regrets-calling-it-a-fraud-2018-1">called bitcoin a "fraud."</a> And in a big regulatory filing the bank <a href="https://www.bloomberg.com/news/articles/2018-02-28/jpmorgan-joins-bofa-in-quiet-warning-crypto-could-disrupt-banks?cmpid=socialflow-twitter-business&amp;utm_content=business&amp;utm_campaign=socialflow-organic&amp;utm_source=twitter&amp;utm_medium=social">noted it could one day be disrupted by cryptocurrencies</a>. </p><p>But the bank has been running a pilot program to make certain payments faster using cryptocurrency technology. And other banks are looking to get in on the action. </p><p>The Wall Street juggernaut launched its so-called Interbank Information Network (IIN) in October 2017 and the firm's chief financial officer Marianne Lake says the initiative is working. The platform, which is built on top of the bank's private Quorom blockchain, allows JPMorgan to exchange information with other banks to address compliance issues in certain cross-border payments, Lake said during the bank's investor day on Tuesday. The pilot involves JPMorgan, Royal Bank of Canada and Australia and New Zealand Banking Group, but Lake said that other banks are looking to "join the party." </p><p>That's not totally surprising considering how difficult cross-border payments can be. The time and expense of such payments is one of the things <a href="http://markets.businessinsider.com/currencies/btc-usd">bitcoin</a> seeks to remedy. A bitcoin holder can send or receive a coin in a matter of minutes, when the network isn't super clogged up. </p><p>"One of the most costly and time-consuming elements of executing cross-border payments today is in correspondent banks having to research and respond to compliance inquiries of each other," Lake said "Today, payments that are flagged for compliance reasons can be delayed for up to two weeks, but this technology can reduce that to minutes."</p><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>JPMorgan</span></p></div><p></p></div></div>One crypto-evangelist described the project as an "actually pretty cool use-case."</p><p>John-Paul Thorbjorsen, the head of crypto company Canya, told Business Insider the pilot shows JPMorgan has "figured out how to make an entry in the space."</p><p>Lake said the IIN is the first of many initiatives the bank will spearhead in payments. </p><p>"The Interbank Information Network represents the first step in our ability to improve end-to-end wholesale payments," Lake said. </p><p>JPMorgan isn't the only bank testing the water with blockchain technology. Barclays, UBS, and Credit Suisse are among the banks that participated in a pilot <a href="http://markets.businessinsider.com/news/stocks/ethereum-price-soars-after-big-banks-announce-project-on-blockchain-2017-12-1011101655">using Ethereum's blockchain to prepare for Markets in Financial Instruments Directive (MIFID II)</a>, a sweeping regulatory overhaul in Europe that went live this year. </p> <p class="tagline">Get the latest Bitcoin price <a href="http://markets.businessinsider.com/currencies/BTC-USD">here.&gt;&gt;</a><br><br><div id="categorypromo" style="border:1px solid silver; min-height:90px; padding:10px;vertical-align:top;"><a href="http://read.bi/bitcoin-101-free"></a><strong>EXCLUSIVE FREE REPORT:</strong><br>The Bitcoin 101 Report by the Business Insider Intelligence Research Team.<br><strong><a href="http://read.bi/bitcoin-101-free">Get the Report Now »</a></strong></br></br></div></br></br></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/wharton-david-reibstein-trump-bad-for-america-brand-davos-2018-2">Forget 'Make America Great Again'  - Wharton professor says Trump has been terrible for America's brand</a></h3>        <div>                    </div>    </div>

Banks have a 'big appetite' to join JPMorgan's blockchain party

<p><strong><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Yana Paskova/Getty Images</span></p><p class="caption">NEW YORK, NY - APRIL 13: Michael Cohen (C), U.S. President Donald Trump's personal attorney, chats with friends near the Loews Regency hotel on Park Ave on April 13, 2018 in New York City. Following FBI raids on his home, office and hotel room, the Department of Justice announced that they are placing him under criminal investigation.</p></div><p></p></div></div></strong></p><p>Stocks closed higher Wednesday, even as multiple companies became entangled in special counsel Robert Mueller's investigation into the Trump administration, and markets digested a US exit from the Iran nuclear deal. </p><p>Here's the scoreboard:</p><p><strong><a href="http://markets.businessinsider.com/index/realtime-chart/dow_jones?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Dow Jones Industrial Average</a>:</strong><span> 24,542.54 +182.33 <span aria-label="Up by 0.75%">(+0.75%)</span></span></p><p><a href="http://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener"><strong>S&amp;P 500</strong></a><strong>:</strong><span> </span><span>2,696.51</span><span> </span><span>+24.59 <span aria-label="Up by 0.92%">(+0.92%)</span></span></p><p><a href="http://markets.businessinsider.com/currencies/aud-usd?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener"><strong>AUD/USD</strong></a><strong>:</strong><span> 0.7461 +</span><span data-format="minimumFractionDigits:4" data-animation="animationType:color" data-jsvalue="0.7453">0.0008 </span><span data-format="maximumFractionDigits:2" data-animation="animationType:color" data-jsvalue="0.7453">(+0.11%)</span></p><p><span><strong><a href="https://www.investing.com/indices/australia-200-futures" target="_blank" rel="noopener">ASX 200 SPI futures:</a></strong> <span id="last_last">6,114.0</span> +29.0 (+0.48%)</span></p><ol><li><strong>Three American citizens who were detained in North Korea <a href="http://www.businessinsider.com/ap-the-latest-pompeo-returning-with-3-americans-detained-in-nk-2018-5?r=UK&amp;IR=T">were released</a> and are being brought back to the US. </strong>The release comes ahead of talks between the Trump administration and North Korean leader Kim Jong-un.  </li><li><strong><a href="http://markets.businessinsider.com/stocks/t-stock">AT&amp;T</a> confirmed that it paid a shell company owned by President Donald Trump's lawyer, Michael <a href="http://www.businessinsider.com/r-att-says-it-hired-firm-linked-to-cohen-for-advice-on-trump-2018-5?r=UK&amp;IR=T">Cohen, at least $200,000</a> in 2017. </strong>The company was after government approval of an acquisition proposal at the time of the payment. </li><li><strong>Several other companies also said they paid Cohen after Trump's inauguration. </strong>Among them are <a href="http://www.businessinsider.com/michael-cohen-pitched-novartis-promising-access-to-the-president-and-inner-circle-2018-5?r=UK&amp;IR=T">Novartis</a>, which paid more than $1 million and <a href="http://www.businessinsider.com/trump-michael-cohen-reimbursed-stormy-daniels-payment-avenatti-2018-5">Columbus Nova</a>, which has ties to a Russian oligarch. </li><li><a href="http://markets.businessinsider.com/commodities/oil-price?type=wti?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener"><strong>Oil</strong></a><span><strong> prices <a href="http://markets.businessinsider.com/commodities/news/oil-price-highest-in-more-than-3-years-2018-5-1023880826">r</a><a href="http://markets.businessinsider.com/commodities/news/oil-price-highest-in-more-than-3-years-2018-5-1023880826">allied to multi-year highs,</a></strong> a day after President Donald Trump announced plans to withdraw the US from the Iran nuclear deal. </span></li><li><strong>Bloomberg LP is <a href="http://markets.businessinsider.com/currencies/news/crypto-insider-bloomberg-launches-a-crypto-index-2018-5-1023893281">starting a cryptocurrency index</a>. </strong>The index is made up of the 10 most liquid digital currencies and will be rebalanced monthly.  <span></span></li></ol><p><span>Here is the upcoming economic calendar: </span></p><ul><li><span>The Reserve Bank of New Zealand will announce its interest-rate decision.</span></li><li><span>China's CPI and PPI will be release.</span></li><li><span>The Bank of England makes rate decisions.</span></li><li><span>Monthly inflation data is out in the US. </span></li></ul>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/nba-referee-james-harden-step-back-jumper-travel-basketball-zach-zarba-2018-4">NBA ref explains why the James Harden step-back jumper isn't traveling</a></h3>        <div>                    </div>    </div>

Stocks surge and oil hits its best level in over 3 years

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Reuters/Antara Foto/ Nyoman Budhiana</span></p><p class="caption">People watch as Mount Agung spews ash and smoke during an eruption from an obeservation post in Rendang, Karangasem, Bali, Indonesia.</p></div><p></p></div></div>Here is what you need to know.</p><p><strong><a href="http://www.businessinsider.com/bitcoin-futures-sends-price-up-2017-12">Bitcoin futures are live at the Cboe</a>. </strong>Trading in the early stages was light with <a href="https://twitter.com/nanexllc">Nanex Founder Eric Scott Hunsader tweeting</a> that liquidity was "thinner than oat futures in January."</p><p><strong><a href="http://www.businessinsider.com/south-korea-bitcoin-futures-2017-12?r=UK&amp;IR=T">South Korea has reportedly banned bitcoin futures</a>. </strong>The Financial Services Commission of Korea issued a directive banning securities firms from taking part in bitcoin futures transactions, Business Korea reports, citing sources. </p><p><strong><a href="http://markets.businessinsider.com/currencies/BTC-USD">Bitcoin is threatening record highs</a>. </strong>The cryptocurrency trades up 9.96% at $16,566 a coin on Monday. </p><p><strong><a href="http://www.businessinsider.com/deutsche-bank-china-debt-financial-crisis-probability-2017-12">Deutsche Bank warns on China</a>. </strong>China has "nearly twice the probability of a crisis in the next riskiest country and nearly three times the probability of a crisis in any random country at any random point in time," according to a note written by Deutsche Bank's chief economist for the Asia Pacific region, Dr. Michael Spencer.</p><p><strong><a href="https://www.bloomberg.com/news/articles/2017-12-11/london-property-market-likely-to-continue-price-drop-in-2018">London's property market is in for another rough ride</a>. </strong><span>Home values in London are likely to fall another 2% in 2018 after a 1.8% decline this year, Bloomberg reports, citing data from real estate website operator Rightmove.   </span></p><p><strong><a href="http://www.businessinsider.com/new-zealand-has-a-new-central-bank-governor-2017-12?r=UK&amp;IR=T">The Reserve Bank of New Zealand has a new governor</a>. </strong>Adam Orr has been named the new head of the central bank, effective March 27. He replaces a<span>citing governor Grant Spencer.</span> </p><p><strong><a href="http://www.businessinsider.com/saudi-aramco-ride-sharing-apps-than-electric-cars-2017-12?r=UK&amp;IR=T">Saudi Aramco execs are worried about Uber</a>. </strong>Senior officials at oil giant Saudi Aramco told the Financial Times they are are more concerned about the growth of ride-sharing apps such as Uber than about the rise of electric vehicles.</p><p><strong><a href="http://www.businessinsider.com/bill-ackman-insider-trading-case-may-go-to-trial-2017-12">Bill Ackman's insider-trading case may go to trial</a>. </strong>On Friday, a California judge denied Ackman and Valeant Pharmaceuticals' request to have their insider-trading case thrown out, meaning Allergan Pharmaceuticals investors can proceed with their lawsuit over the attempted hostile takeover of the company in 2014.</p><p><strong><a href="http://markets.businessinsider.com/indices">Stock markets around the world are higher</a>. </strong>Hong Kong's Hang Seng (+1.14%) led the gains in Asia and Britain's FTSE (+0.64%) is out front in Europe. The S&amp;P 500 is set to open little changed near 2,653.</p><p><strong><a href="http://markets.businessinsider.com/economic-calendar">US economic data is light</a>. </strong>JOLTS Job Openings will be released at 10 a.m. ET. The US 10-year yield is unchanged at 2.37%. </p>

<p class="source"><span>Chip Somodevilla/Getty</span></p><p class="caption">New Hampshire Senator Maggie Hassan says the Department of Homeland Security must do more to stop ransomware attacks on hospitals.</p><ul class="summary-list"><li>Organizations from the World Health Organization to little clinics across America are being hit with malware that locks up their computer systems.</li><li>As COVID-19 peaks, this could fuel public panic because hospitals may not be able to process patients' paperwork or provide test results. </li><li>New Hampshire Senator Maggie Hassan tells Business Insider that is an urgent concern and DHS admits it must do more to help local agencies. </li><li>Hospitals often have no good option in responding to attacks, as ransomware gangs threaten to publicly post documents or extort patients. </li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul><p>As COVID-19 overwhelms healthcare, ransomware - the cybercrime that locks up organizations' computer systems while demanding payment - is increasingly hitting agencies from the World Health Organization to little clinics across America. Experts say that could lead to panic at a key time. </p><p>More than 750 healthcare providers were hit with ransomware last year, according to Emsisoft, a New Zealand cybersecurity company <a href="https://blog.emsisoft.com/en/35921/free-ransomware-help-for-healthcare-providers-during-the-coronavirus-outbreak/">offering free help</a> to hospitals hit with ransomware. "We may be looking at a near-perfect storm in which healthcare providers are disrupted at the very time they are needed the most," the company says <a href="https://blog.emsisoft.com/en/35921/free-ransomware-help-for-healthcare-providers-during-the-coronavirus-outbreak/">in a blog post.</a> </p><p>The attacks hit the largest and smallest of healthcare facilities. The World Health Organization has been attacked with multiple ransomware attempts, but has been able to deflect them with protective cybersecurity software, the giant medical organization's security chief <a href="https://www.wsj.com/articles/cybercriminals-sweep-in-to-take-advantage-of-coronavirus-11585056466">told The Wall Street Journal this week</a>. At the other end of the spectrum, Wood Ranch Medical, a clinic in Simi Valley, California, closed in December after ransomware damage was significant enough that <a href="https://www.woodranchmedical.com/">the little clinic found</a> "we cannot rebuild our medical records."</p><p>Ransomware is often unleashed when an employee clicks on a "phishing" link in an email, or downloads an attachment. Malware can then be released into an organization's computer systems that encrypts data, making it inaccessible.</p><p>Ransomware gangs offer to provide a software "key" that decrypts the data for a fee paid in cryptocurrency - but the keys sometimes don't work. If organizations turn to law enforcement, the gangs can increase the pressure by publicly posting sensitive data online, or approaching patients mentioned in the data. There is no good option, experts say. And the costs of computer downtime to large organizations can be staggering. Emsisoft says the cost of ransomware last year <a href="https://blog.emsisoft.com/en/34822/the-state-of-ransomware-in-the-us-report-and-statistics-2019/">may have reached $7.5 billion.</a>   </p><h2>Paralysis of hospitals could fuel panic</h2><p>During a pandemic, the paralysis of a hospital's basic operations could fuel panic, says Allan Liska, a ransomware expert at the cybersecurity research firm Recorded Future. "What gets disrupted is the ability to schedule new cases, handle calls, test results can't get processed." Liska predicts that will have an emotional impact. "The overreaction from the populace will be bad."</p><p>Liska notes that LabCorp, one of the large medical companies <a href="https://www.labcorp.com/coronavirus-disease-covid-19">providing COVID-19 testing</a>, was hit by ransomware two years ago. The North Carolina company reported no loss of data, but struggled for a week to resume full functionality, <a href="https://www.bankinfosecurity.com/labcorp-still-recovering-from-ransomware-attack-a-11235">according to Information Security Media Group</a>. Labcorp did not immediately respond to a request for comment. </p><p>The threat of hacks into healthcare is already causing stress. The American Medical Association says half of doctors are "very or extremely concerned about future cyberattacks."</p><h2>FBI says it can help, but criminals turn up the heat</h2><p>The FBI says that level of concern is similar to stress crime victims report in previous national emergencies, such as hurricanes or other natural disasters. The bureau has been working to prepare for ransomware attacks on healthcare, says its security chief, Herb Stapleton. "It's really important to report that as soon as possible, so we can do everything in our power to assist that victim, to get help to mitigate that attack. There are ways to assist victims in those situations."</p><p>But ransomware gangs threaten organizations, telling them not to go to law enforcement or they will release private information, or even extort patients directly, <a href="https://www.protenus.com/resources/2020-breach-barometer/">a tactic seen recently by Protenus, a healthcare analytics company.</a> In a Florida incident last year, Protenus says the hackers also sent ransom demands to a number of the affected patients, which threatened "release of their photos and personal information unless unspecified ransom demands are negotiated and met."</p><p>"It is horrible," says Bill Siegel, chief executive of Coveware, a Connecticut cybersecurity company that helps organizations respond to ransomware. "For a hospital ER it can mean life-saving surgery can't be performed because radiology images are not available. For an oncology ward it can mean radiation or chemotherapy treatment can't be administered because proper dosage is not available. Extended downtime means people die."</p><h2>US senator says more must be done to help hospitals</h2><p>The threat has the attention of lawmakers and federal agencies. "As the COVID-19 pandemic continues to spread, hospitals across the country are facing enormous challenges as-is, which is why it is more important than ever that they have the support that they need to protect themselves from crippling ransomware attacks," Sen. Maggie Hassan, a New Hampshire Democrat, told Business Insider. </p><p>At a hearing earlier this month Hassan told acting secretary of Homeland Security Chad Wolf that "we must do more to protect our state and local partners - and specifically health care facilities - against ransomware." </p><p>Wolf agreed that DHS needs to continue outreach to state and local officials to help guard against ransomware attacks, and Hassan said she is persevering. "My office continues to be in close touch with the agency to ensure that it is doing everything that it can to help prevent criminal hackers from upsetting the operational capacity of our hospitals during this critical time," she told Business Insider.</p><p>But with no good options when their computer systems are locked up and COVID-19  overwhelming them, healthcare providers may be forced to do the very thing that empowers ransomware gangs: Pay up. </p><p>"The answer should always be: 'don't pay,'" says Liska, the ransomware expert for Recorded Future. "But realistically, if you are in the middle of a crisis and it's interrupting patient care, they may pay the ransom every time."</p><p class="tagline"><a href="/intelligence/digital-health?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_subscription&amp;itm_content=health&amp;itm_campaign=digital-health"></a><br /><br />Featured Health Articles:<br />- <a href="/telehealth-industry-explained">Telehealth Industry Explained</a><br />- <a href="/value-based-care-pay-for-performance-healthcare-model">Value-Based Care Explained</a><br />- <a href="/senior-care-market-trends">Senior Care &amp; Assisted Living Market</a><br />- <a href="/wearable-technology-healthcare-medical-devices">Smart Medical Devices &amp; Wearable Tech</a><br />- <a href="/artificial-intelligence-healthcare">AI in Healthcare</a><br />- <a href="/remote-patient-monitoring-industry-explained">Remote Patient Monitoring Explained</a>- <a href="/ai-medical-diagnosis-report">AI in Medical Diagnosis Systems</a></p>            <h3>NOW WATCH: <a href="https://www.businessinsider.com/veterinarians-debunk-13-common-myths-about-raising-cats-2020-3">Veterinarians debunk 13 cat myths</a></h3>

Ransomware attacks are causing panic and chaos at overwhelmed hospitals struggling with COVID-19, and it may be about to get worse

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>LinkedIn</span></p></div><p></p></div></div></p><ul><li><strong><a href="http://markets.businessinsider.com/stocks/lbcc-stock">Long Blockchain</a> has been warned twice that it could lose its spot on the Nasdaq exchange if it fails to raise its market value to $35 million. </strong></li><li><strong>The former iced tea company has been accused of misleading investors and profiting from the explosion of interest around cryptocurrencies and blockchain technology. </strong></li><li><strong>Loretta Joseph, an Australian who chairs the country's digital currency advocacy group, has joined Long Blockchain's board. </strong></li></ul><p><br /><a href="http://markets.businessinsider.com/stocks/lbcc-stock">Long Blockchain</a>, formerly <a href="http://markets.businessinsider.com/currencies/news/long-island-iced-tea-company-pivots-to-blockchain-stock-explodes-2017-12-1011743880">known as The Long Island Iced Tea Corporation</a>, finally has a board member with some blockchain expertise as it fights accusations of fraud. </p><p>The company on Wednesday <a href="https://www.sec.gov/Archives/edgar/data/1629261/000149315218002688/form8-k.htmhttps://www.sec.gov/Archives/edgar/data/1629261/000149315218002688/ex99-1.htm"><span>announced</span></a> Loretta Joseph, an Australian blockchain consultant with experience at major banks throughout the world, would join its board. Joseph, who is currently in Tokyo, confirmed the news to Business Insider.</p><p>She will join the company's six person board as the first with blockchain experience, alongside four beverage industry veterans, as well as CEO Shamyl Malik who <a href="http://markets.businessinsider.com/currencies/news/long-blockchain-stock-price-will-spin-off-iced-tea-business-to-focus-on-blockchain-new-ceo-delisting-nasdaq-2018-2-1016459530">joined the company from Citigroup in February</a>, and Sam Ghosh, an entrepreneur with experience in trading at Deutsche Bank and UBS.</p><p>Her pay will be $30,000 per year as well as $35,000 worth of stock, <a href="https://www.sec.gov/Archives/edgar/data/1629261/000149315218002688/form8-k.htm">regulatory filings show</a>. </p><p>Long Blockchain has come under fire twice from the Nasdaq exchange on which its stock is traded. Nasdaq first threatened to delist the company after its market value fell below $35 million in November. Pivoting to blockchain saved it the first time by boosting its market value above the Nasdaq-required $35 million, but the <a href="http://markets.businessinsider.com/currencies/news/long-blockchain-stock-price-will-spin-off-iced-tea-business-to-focus-on-blockchain-new-ceo-delisting-nasdaq-2018-2-1016459530">new second delisting notice</a> may prove harder for the company to avoid.</p><p>On February 21, Nasdaq <a href="https://sqoop.com/details/sec/0001493152-18-002461#form"><span>accused Long Blockchain</span></a> of making "a series of public statements designed to mislead investors and to take advantage of general investor interest in bitcoin and blockchain technology."</p><p>The company's market cap is currently $30 million. It must maintain a market cap above $35 million for 20 business days to avoid delisting, according to Nasdaq policy.</p><p>Long Blockchain is currently pursuing a merger with New Zealand-based Stater Blockchain. A <a href="https://www.nasdaq.com/press-release/long-blockchain-corp-enters-into-letterofintent-with-stater-blockchain-ukbased-business-that-is-20180116-00644">letter-of-intent filed in January</a> lays the framework for Stater, which also owns a UK-based brokerage known as Stater Global Markets, to become listed on the Nasdaq exchange without pursuing a traditional initial public offering, or IPO. </p><p>Long Blockchain did not respond to a request for comment.</p><p>"Loretta brings an exceptional record of achievement in global financial services and Blockchain advocacy, and we are fortunate to have her as a member of our Board," CEO Shamyl Malik said in a press release. "She embodies the type of individual we are seeking to help lead our continuing progression towards developing scalable and sustainable Blockchain solutions for the global financial markets."</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/why-are-human-breasts-big-2018-2">The science of why human breasts are so big</a></h3>        <div>                    </div>    </div>

The iced tea company that pivoted to blockchain finally hired a board member with crypto expertise as it fights fraud accusations

<p><div class="KonaFilter image-container display-table float_right click-to-enlarge"><div><div class="image on-image"><a title_source="Markets Insider" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/586268c4ee14b61c008b54bd-960/undefined"><span class="sprites click-to-enlarge-icon" title="Click to enlarge"></span></a><p class="source"><span><a href="http://markets.businessinsider.com/currencies/USD-JPY">Markets Insider</a></span></p></div><p></p></div></div>The Japanese yen is falling in quiet trading on Tuesday. </p><p>Against the US dollar, the yen is weaker by 0.2% at 117.374 as of 8:08 a.m. ET. Data released earlier showed that consumer p<span>rices slumped 0.6% year-over-year in Tokyo, making for the biggest drop since February 2013, and showing that Japan's economy still lacks inflation. </span><span>Employment data were also released, showing that the jobless rate ticked up to 3.1%. </span></p><p>Here's the rest of the scoreboard:</p><ul><li>The <strong>dollar</strong> is hovering near its best level in 14 years. The US Dollar Index is up 0.17% to 103.12. "As skeleton teams return to the trading desks in New York, the US dollar is largely where they left it at the end last week," wrote Marc Chandler,<span> global head of currency strategy at Brown Brothers Harriman,</span> in a note.<span> "Japanese markets were open yesterday, while UK, Australia, New Zealand, Hong Kong and Canadian markets are still closed today."</span></li><li>The <strong>South African rand</strong> is among the best performers in emerging markets. The rand is stronger by 0.42% at 13.952 per dollar. </li><li><strong>Russia's ruble</strong> is also stronger, up by 0.07% to 60.7300 against the dollar. West Texas Intermediate crude oil was little changed, up 0.28% at $53.17 per barrel.</li><li><a href="http://www.businessinsider.com/bitcoin-december-27-2016-2016-12">Bitcoin</a> is at a three-year high. <span>The cryptocurrency is up by 1.6% at $912.</span></li></ul>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/fed-federal-reserve-raised-rates-janet-yellen-explain-why-2016-12">Watch Yellen explain why the Federal Reserve decides to raise rates</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="9iN245ODE6FzNRBdC0_U12Pgj2-fdpNL" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

The yen is falling as 'skeleton teams' return to work

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Paul Morigi/Getty Images</span></p><p class="caption">IBM CEO Ginni Rometty</p></div><p></p></div></div>IBM is using the technology behind bitcoin to help farmers and other small businesses in underdeveloped countries participate in global trade. </p><p>IBM announced the project on Monday, in partnership with fintech <span>startups Stellar.org and KlickEx Group.</span></p><p>The companies will use IBM's blockchain technology to process financial transactions across borders and currencies - a process which is often prohibitively slow and costly for small business owners, especially when they are in developing regions with smaller banking infrastructures. </p><p> </p><p>The project is focused on what Stellar calls "<span>underdeveloped payment corridors" - countries like Samoa and Fiji, where monetary policies, currencies, and economic instability that make it difficult for businesses to move money internationally. </span></p><p>IBM will essentially bring scale and bank partnerships to Stellar's existing work on global blockchain transactions, as well as the efforts of KlickEx Groups, a liquidity provider, to get bigger <keyword id="6356001" type="COMPANY" weightage="60" keywordseo="international">international</keyword> banks to work with these marginalized regions. </p><p>The announcement is the latest of several projects IBM is working on that use blockchain technology. Earlier this year, IBM announced<a href="http://www.businessinsider.com/ibm-and-walmart-are-using-blockchain-in-the-food-supply-chain-2017-8"> a collaboration with food distributors</a> like Walmart and Nestlé, that aims to mitigate the spread of food-borne illnesses through more thorough tracking of the supply chain, from the farm to the store. </p><h2><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span><a href="http://www.flickr.com/photos/95187446@N00/3631993360/in/photolist-6wWV6b-6wWYaY">Flickr/loei88</a></span></p><p class="caption">Smaller currencies, such as the Samoan tala, face financial exclusion that could be eliminated by IBM's new blockchain project.</p></div><p></p></div></div>No middleman</h2><p>One of the great promises of blockchain is its ability to quickly and securely exchange money across borders without having a middleman.</p><p>The technology first grew in popularity around the 2008 financial crisis, when an anonymous creator known as <span>Satoshi Nakamoto came up with the cryptocurrency bitcoin as a way to exchange money outside of the control of big banks and governments.</span></p><p><span>While bitcoin is just one use of blockchain, the technology behind it is essentially the same: it's a decentralized digital ledger. This means that every transaction that happens on the blockchain is recorded across multiple computer servers. It's considered to be extremely transparent and nearly fraud-proof. </span></p><p>From the businesses' perspective, the new blockchain product can be used to manage both the legal and financial credibility of a transaction - from establishing the terms of a contract, to managing documentation, putting up collateral, obtaining letters of credit, and finalizing terms with immediate payment, according to IBM.</p><p><span>"For example, in the future, the new IBM network could make it possible for a farmer in Samoa to enter into a trade contract with a buyer in Indonesia," IBM said in a press release. </span></p><p>The payment system is already at work in 12 different regions across the Pacific Islands, Australia, New Zealand, and the UK.</p><p class="tagline">Get the latest IBM stock price<a href="http://markets.businessinsider.com/stock/ibm-Quote"> here.</a></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/apple-iphone-6s-vs-iphone-8-x-upgrade-2017-9">I won't trade in my iPhone 6s for an iPhone 8 or iPhone X - here's why</a></h3>        <div>                    </div>    </div>

IBM is using the technology behind bitcoin to help businesses in countries with weak banking systems

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Revolut</span></p><p class="caption">Nikolay Storonsky, Revolut.</p></div><p></p></div></div></p><ul><li><strong>Banking startup Revolut raised $250 million on Thursday at a valuation of $1.7 billion.</strong></li><li><strong>It makes Revolut one of the fastest tech companies to reach unicorn status in Europe. </strong></li><li><strong>CEO Nikolay Storonsky tells BI he thinks Revolut can keep growing at pace and talks about his plans.</strong></li></ul><p><br />LONDON - British fintech startup Revolut <a href="http://www.businessinsider.com/fintech-revolut-series-c-dst-global-valuation-growth-customers-2018-4">announced a $250 million funding round on Wednesday</a>, valuing the two-and-a-half-year-old startup at $1.7 billion.</p><p>It makes Revolut one of the fastest European companies to reach so-called "unicorn" status, tech-industry speak for a private company valued at over $1 billion.</p><p>"How does it feel? I don't know," Revolut's CEO and founder Nikolay Storonsky told Business Insider in a phone interview on Tuesday. "We still have a lot of work in front of us and we're going to just keep doing it."</p><h2>From FX to travel insurance</h2><p>Revolut started back in July 2015 as a no-fee foreign exchange card linked to an app that let people easily swap currency. It has proved wildly popular and now has 1.8 million users across Europe.</p><p>"We're the fastest growing ICT company in Europe for sure, maybe even in the world," Storonsky said.</p><p>As it has grown, the company has rapidly launched new products in the app - everything from travel insurance and property investment ISAs to cryptocurrency trading. The startup has also launched "Premium" cards that offer many of these services for a monthly fee and business accounts.</p><p>This rapid expansion hasn't come easy. Storonsky told BI last year staff can <a href="http://uk.businessinsider.com/interview-revolut-nikolay-storonsky-culture-rapid-growth-2017-10">work 12 hour days or more and working on weekends is not unusual.</a> "We are about getting s**t done," Storonsky said at the time.</p><p>But the hard work has helped Revolut to break even in December, something relatively rare for a fast-growing, early stage startup.</p><p>Storonsky said: "The company's business model works - out of all of the digital challenger banks, we're the only one that makes money.</p><p>"We've got six revenue streams, four of them are main, two are secondary - it's quite diversified at the moment. We split it by core products, which are interchange, user fees, premium accounts, business accounts, and then add-ons."</p><h2>'I don't see a limit'</h2><p>Revolut's rapid growth of users and revenues has understandably caught the attention of investors worldwide and Storonsky said the company had a number of offers of investment on the table. DST Global, the investment vehicle of Russian billionaire Yuri Milner, ended up leading the round.</p><p>"We decided to pursue DST because they are already known to us well and they also were a great brand name because they invested in Facebook, Slack and they were all great stories," he said.</p><p>While Storonsky hasn't spent much time reflecting on what it means to be a "unicorn", he is thinking about what Revolut might look like in future.</p><p>"I don't see a limit," he said. "If you look at HSBC, Barclays, quite a lot banks - they don't cover globally and they're already huge companies. It's definitely possible to build something bigger than them.</p><p>"Imagine what will happen to our valuation when we get into credit, mortgages, insurance," he adds.</p><p>The $250 million will be used to fund expansion into new markets and there are several launches "on the finish line."</p><p>"US, Singapore, Australia, and Canada as well. And then a bit later will come Hong Kong, New Zealand, India, Russia, Latin America as well. We're talking two or three max months - Q2, summer."</p><p>Revolut is currently applying for a banking license in Europe and it will "most likely" apply for one in the UK too. </p><p>"In some countries, we're going to apply for a banking license which means even more capital requirements," Storonsky said.</p><p class="tagline"><a href="http://www.businessinsider.com/intelligence/future-of-zelle-venmo-and-p2p-payments?IR=T&amp;utm_source=businessinsider&amp;utm_medium=ctgr&amp;utm_term=ctgr_leadgen&amp;utm_content=payments_ctgr_leadgen&amp;utm_campaign=payments_ctgr_leadgen_future-of-zelle"></a></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/larry-hatheway-gam-economist-biggest-market-fear-tax-policy-trade-2018-4">A $163 billion chief economist outlines his biggest market fear</a></h3>        <div>                    </div>    </div>

The CEO of a bank that hit a $1.7 billion valuation in less than 3 years talks to us about US expansion and 'building something bigger than' HSBC

<p class="p1"><div class="image-container float_right" style="width:400px"><div class="image"></div><p class="source"><a href="http://www.flickr.com/photos/zcopley/8337050500/">Flickr / zcopley</a></p></div>In case you missed it, someone <a href="http://www.businessinsider.com/texas-family-we-sold-this-porsche-last-night-for-300-bitcoins-2013-4">bought a Porsche Cayman S for 300 Bitcoin yesterday.</a></p>
<p class="p1">But the real star of the story was Bitpay.com. After all, since they were the ones cashing out the buyer's Bitcoins, they were taking on all the risk. </p>
<p class="p1"><span style="font-size: 15px; line-height: 1.5em;">As <keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="Bitcoin">Bitcoin</keyword>'s value has skyrocketed in recent weeks — now $127; about $50 just a month ago — lots of people have been highlighting the "<a href="http://www.businessinsider.com/presentation-what-is-bitcoin-2013-3">crypto-currency's</a>" dangers.</span></p>
<p class="p2">Felix Salmon, for instance, <a href="http://blogs.reuters.com/felix-salmon/2013/04/03/why-bitcoins-rise-is-nothing-to-celebrate/">believes Bitcoin is not a currency at all</a>, but rather behaves more like a commodity, subject to the same touchy price changes as corn or cotton.</p>
<p class="p2">Bitcoin's recent flash crashes — the result of both technical and malicious failures — have only added to the skepticism. </p>
<p class="p2">Thursday morning, we talked with Bitpay.com's founder, Tony Gallippi to get his take. </p>
<p class="p2">Speaking to us by phone from his Atlanta office (which was outfitted using Bitcoin-bought supplies, naturally), Gallippi essentially agrees with Salmon, calling Bitcoin an "asset class."</p>
<p class="p2">As long as its value keeps rising, he said, it will come to be viewed like stocks or real estate.</p>
<p class="p2" style="padding-left: 30px;">[If it gets up to] $500 and $1,000, it's now usable for people who want to trade in and out of real estate, gold positions, stocks. Someone moving to New Zealand wondering how to get $5 million in gold ... with Bitcoin, they can cash it back out.</p>
<p class="p1">He added:</p>
<p class="p1" style="padding-left: 30px;">There's volatility now, the market has it undervalued, so people [who are] trying to do larger transactions, the market can't handle it. But if there are $10 billion worth of Bitcoins in the market, it's not really going to move on market volatility. </p>
<p class="p2">He does not dismiss the technical concerns, but said there's good reason to believe they will diminish in the coming months. The trust system that underlies Bitcoin has so far proven resilient:</p>
<p style="padding-left: 30px;">The way Bitcoin is designed, there are financial incentives for people to cooperate to use it [rather] than attack it. So we recently saw a situation, it wasn't an attack, there was a technical bug in the software, the value of Bitcoin started to decline, people were scrambling to fix problem, it was their money at stake ... I was pretty impressed with the way they handled it. I think [threats are] starting to diminish now that it's been tested multiple times through different kinds of challenges.</p>
<p class="p2">Nor does he fear increased regulation. The government continues to recognize Bitpay as a payment processor, treating the service the same way as it would a hotel handling poker chips, he said.</p>
<p class="p2">He also compared Bitpay to a better version of Visa or American Express. Those firms are currently blocked all over the developing world. Bitcoin faces no such restrictions.</p>
<p class="p2" style="padding-left: 30px;">If Bitcoin can do international ecommerce, what's its value? I think it depends on how quickly people start adopting it. </p>
<p class="p2">That growing exposure may be one reason why Bitpay <a href="http://blog.bitpay.com/2013/04/bitpay-eclipses-silk-road-in-bitcoin.html">just passed underground or "darknet" website Silk Road</a> as the world's leading Bitcoin processor.</p>

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