The European parliamentary election is the second largest democratic exercise in the world.Europe Newsread more
Buybacks have gotten a bad rap from both Republicans and Democrats. But stocks would be trading at a massive discount without them.Marketsread more
Fiat Chrysler and France's Renault could soon partner up to take on the sweeping changes to the global auto industry, according to a report in the Financial Times. The...Autosread more
Microsoft shares have gained 133% since November 2015, outperforming a tech "basket of unicorns" over that stretch.Technologyread more
The president's state visit comes amid tensions with carmaker Toyota over potential auto tariffs. Trump has repeatedly threatened Japanese and European carmakers with tariffs.Traderead more
When commercial real estate investor Manny Khoshbin spent $2.2 million on the fastest production car in the world, he had no idea it would very quickly also become the...Autosread more
The IRS is about to release a new draft of Form W-4, which will more closely reflect the changes stemming from the Tax Cuts and Jobs Act. For workers, that means they'll need...Personal Financeread more
The Mega Millions jackpot has spilled over $400 million. It would be the ninth largest winning since the game began in 2002.Personal Financeread more
Trump was speaking at a meeting of Japanese business leaders in Tokyo during his state visit to Japan on Saturday.Marketsread more
The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
The federal minimum wage has remained $7.25 per hour since 2009. But several states, and even some companies, have since taken matters into their own hands to pay employees a...Workread more
Some Silicon Valley power players are putting their money behind blockchain start-up Lightning Labs.
Lightning Labs, which specializes in a technology that can potentially make bitcoin cheaper and faster to use for transactions, announced it has raised seed financing of $2.5 million. The investors include Jack Dorsey, CEO of Square and Twitter; David Sacks, former COO of PayPal; Bill Lee, angel investor in Tesla and SpaceX; Jacqueline Reses, head of Square Capital; and Charlie Lee, creator of litecoin.
Lightning Labs CEO Elizabeth Stark says Lightning functions as a software layer that sits on top of the bitcoin network.
"If bitcoin is like a decentralized savings account, Lightning is a decentralized checking account where users can send money instantly," Stark told CNBC.
This week was the first Lightning beta release on the bitcoin network. "Lightning will be rolled out first to advanced users and developers … and then broader users," Stark said.
Bitcoin bull Dan Ciotoli of Bespoke Investment Group said earlier this year his bitcoin target of $20,000 to $30,000 was contingent on a number factors, including the integration of the Lightning network. Ciotoli told CNBC in January that bitcoin's high transaction cost is one of its main flaws.
Slow processing times is one reason the bitcoin community issued a software fork that resulted in the creation of bitcoin cash, seen by many as bitcoin's cousin.
A number of bitcoin holders told CNBC that the bitcoin network is not only slow but expensive.
"One thing we've learned is that it can be hard to predict bitcoin fees in advance, and there may be large swings, so having a solution like Lightning with very low fees on the network is key," said Stark. "You still pay on-chain bitcoin fees when getting on or off of Lightning, but that may happen infrequently, like once a month or year."
"Further, Lightning can allow users to take advantage of low bitcoin fees when they are cheap, while often avoiding fees when they're high, thus actually helping to stabilize on-chain bitcoin fees in the future," Stark said.