Weekly Crypto News

Jeffrey Sprecher, ICE’s chief executive: There is a trend here we can’t ignore in my mind, so I don’t discount it. People put more faith in a guy named Satoshi Nakamoto that no one has ever met than they do in the US Fed. 

Cryptocurrencies

• At the beginning of the week, bitcoin plunged to $6,600. However, it managed to find a support and surged above $8,000. The next psychological level is at $9,000.
• The chief executive of Intercontinental Exchange (an American company that owns exchanges for financial and commodity markets and operates 23 regulated exchanges and marketplaces) Jeffrey Sprecher didn’t rule out starting futures contracts on cryptocurrencies.
• The government of Venezuela legalized cryptocurrency circulation in the country. Venezuela’s President Mr. Maduro got a right to regulate El Petro.
• Barclays’ analysts compared bitcoin to viral disorders. They think that the cryptocurrency’s rate declines because of the users’ immunity.
• Mega-scam. Organizers of two ICO projects Ifan and Pincoin disappeared with $660 million of 32K investors. Startup Modern Tech is suspected of this fraud.
• A user of JPMorgan Chase took to court because of big commissions of 30% for a cryptocurrency purchase.
• Monero hardfork. Last Friday Monero held a hardfork to retain ASIC resistance. A new hardfork MoneroV is supposed to be held at the end of the month. This hardfork will be aimed at original blockchain scaling.
• $125 million was gained during the Basecoin ICO. The aim of the project is to create a token that will not be influenced by a volatility.

Regulation

• The online giant Taobao (Alibaba Group) banned goods and services that are related to cryptocurrencies and ICO.
• US Secretary of the Treasury Steven Mnuchin said that he is not against cryptocurrencies but he is for their correct application.
• Chinese police interrupted Global Fintech & Blockchain China Summit 2018.
• Financial Service Agency closed two cryptocurrency exchanges Eternal Link and FSHO. Cryptocurrency exchanges until June after inspections revealed a lack of procedures around reporting suspicious transactions.

Cryptocurrency exchanges

• A popular cryptocurrency exchange Bittrex opened a registration of new users that was closed since December 2017. However, very soon it was closed again.
• The second largest South Korean cryptocurrency exchange Bithumb announced the blockchain platform that will support payments and transactions in different social networks.

Blockchain

• 22 EU countries signed a declaration about the partnership in blockchain technologies.
• China is against cryptocurrencies but not against blockchain. An incubator for blockchain startups was launched in Hangzhou. 30% of investments were provided by the local government.
• Clients of Santander from Spain, Great Britain, Brazil, and Poland will get an access to a blockchain application for cross-border payments based on xCurrent technology (without XRP) from Ripple.
• tZero company presented a prototype of a blockchain platform for trading. Now the company is waiting for a decision of the SEC.

Bitcoin $8,133.5 9 (+19.04%)

DASH $374.80 (+21.14%)

Ethereum $514.00 (+21.81%)

Litecoin $130.10  (+13.91%)

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