Venmo COO discuss cryptocurrencies and the future of finance

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Michael Vaughan, COO of PayPal’s mobile payment service company Venmo, Karen Finerman, CEO and founder of Metropolitan Capital, and Founder and CEO of BKCM Brian Kelly will discuss the future of finance and cryptocurrencies at the Wharton Global Forum in New York Friday morning.

Digital currencies like bitcoin have lost roughly half of their market cap since the beginning of this year, according to CoinMarketCap.com. News of hacks, regulatory uncertainty, and a lack of new buyers have weighed on 2018 prices after bitcoin took off last year.

The world’s first cryptocurrency skyrocketed to nearly $20,000 in December of last year, and has fallen to about $6,500 as of Friday.

Proponents say its underlying technology blockchain has the ability to disrupt the entire financial system. But some well-known critics have taken the opposite stance. Billionaire investor Warren Buffett called it worthless and “rat poison squared,” at the Berkshire Hathaway annual shareholder meeting.

[“Source-cnbc”]