After weeks of sitting in the US$700-$800 range, on 6 January the value of digital currency Bitcoin moved back over US$1,000 on Tokyo-based exchange Mt.Gox, after an announcement by Zynga. The social gaming giant revealed that it would begin accepting payments via Bitcoin, sending the virtual currency soaring to a high of US$1,093.
Recognising Bitcoin’s popularity around the world, Zynga teamed up with Bitcoin payment processor BitPay to test Bitcoin payment for certain web games, the company explained in
a Reddit post
Players will be able to use Bitcoin to make in-game purchases in games such as FarmVille 2, CastleVille, Hidden Chronicles and CityVille.
Bitcoin first topped US$1,000 in late November, and last month hit an all-time high of US$1,238 on 4 December. However a series of actions by the People’s Bank of China (PBOC) sent its value plummeting. On 5 December, the Chinese central bank restricted banks from using Bitcoin in transactions, declaring that it is not a true currency.
Subsequently, on 18 December,
the PBOC blocked China’s Bitcoin exchanges
from accepting new inflows of cash. Bitcoin sank to as low as $455 at the time, although it has since recovered.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.