What’s invisible, untraceable, and irresistible to investors and drug dealers alike? That would be bitcoin, a groundbreaking digital, decentralized currency system that’s challenging conventional financial wisdom- and winning. Last night, bitcoin rode wild waves of highs and lows as it traded into the morning, sling-shotting from $106 to $147 in a matter of hours,and finally settling down around $139 this afternoon. Just two weeks ago, one bitcoin was worth $47. That’s about […]

Center-right leader Nicos Anastasiades addressed civil servants in the capital city of Nicosia today, just one day after banks reopened across the country following a nearly two-week shutdown. Amid jabs at banking authorities in Cyprus and Europe, Anastasiades insisted that despite the crescendo of international concern, Cyprus would remain on the EU’s single-currency system. “We have no intention of leaving the euro,” he stated this afternoon, adding, “In no way […]

In what has been deemed as a last minute deal, Cyprus leaders have reached an agreement with the European Union for a 10 billion euro bailout. Officials say the deal was reached after pressure mounted from a German-led bloc threatening to cease all temporary funding if a deal was not reached. With an economy largely based on banking, the bailout will consist of shutting down the country’s largest bank, The […]