Cheddar Afternoon Business Update 12/4: Bitcoin, American Airlines, Facebook

Posted: Updated:
NEW YORK -

Bitcoin is back and making billions for investors.

The crypto-currency hit an all-time high of $11,773 Sunday in a massive rebound from a plunge last week. The gains mean that twins Cameron and Tyler Winklevoss, founders of the Gemini bitcoin exchange, are likely the first well-known bitcoin billionaires.

American Airlines flyers may need to leave their battery-powered suitcases at home. Starting early next year, travelers will have to remove lithium-ion batteries from smart luggage if they plan to carry on their bag. The FAA has strict battery regulations because they are prone to catching fire, but American is the first airline to apply the regulations to smart suitcases.

And Facebook is getting serious about sports streaming. The social media site is hiring a head of sports programming to oversee rights acquisition. The new executive will have a budget of a few billion dollars to bid on sports streaming rights. Facebook is not looking to produce events, just show them on its site.

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