Crypto Market Wipes Out $8B, Bitcoin Cash Down 24.4% in 1 Week

Twitter Facebook LinkedIn Over the past 12 hours, more than $8 billion was wiped out from the crypto market, as several major digital assets including Bitcoin Cash (BCH) and Stellar (XLM) suffered. For the first time in the past ten days, the price of BCH has dropped below the $500 mark to $480. Within the past week, after securing a monthly high at $630, BCH has dropped by more than 24.4 percent. What’s Happening to Bitcoin Cash? Prior to a hard fork, especially a contentious hard fork in which a…

$3 Billion Deleted From Crypto Market as Big Digital Assets Perform Poorly

Twitter Facebook LinkedIn Over the last 24 hours, the crypto market has seen a drop of $3 billion from $212 billion to $209 billion, as major cryptocurrencies including Stellar (XLM) and Cardano (ADA) have fallen by 3 to 6 percent. Peculiarly, Stellar and Cardano are amongst three cryptocurrencies alongside Zcash that are expected to be integrated into Coinbase, the world’s fourth-largest fiat-to-crypto exchange behind Bitfinex, Bithumb, and Upbit. Why are Stellar and Cardano Falling? Prior to their listing, Basic Attention Token (BAT) and 0x (ZRX) recorded gains in the range…

Bitcoin Price Decline Will Persist until Mid-2019: Crypto Analyst Willy Woo

Twitter Facebook LinkedIn When the bitcoin price flatlined near $6,500 in mid-October, many crypto analysts predicted that the bears had finally become winded following a market downturn that has persisted for nearly a year and that the market could be primed for a December rally. However, technical analyst and trader Willy Woo does not believe that the flagship cryptocurrency’s immediate future is quite so rosy. Writing on Twitter, Woo said that he does not expect the bitcoin price to find a floor until the second quarter of 2019, meaning that…

Crimean Government Considers Creation of Blockchain Cluster and Crypto Fund

Crimean authorities are considering creating a blockchain-cluster in the form of a cryptocurrency investment fund to attract tech businesses to the territory. The cluster would be located within the special economic zones (SEZ) in Crimea and its largest city Sevastopol, major state-operated Russian news agency TASS reported Nov. 9. Georgy Muradov, the Permanent Representative of the Republic of Crimea under the President of the Russian Federation, shared the Crimean government’s potential plans about the blockchain-cluster and crypto fund at a meeting of the program committee of the Yalta International Economic…

Swiss Crypto Bank Startup Expects to Receive Banking, Securities Dealer License in 2019

The CEO of Swiss startup SEBA Crypto AG said in an interview that five “large asset managers” from both Germany and abroad have shown interest in their cryptocurrency bank, Swiss financial media outlet Cash reports Nov. 12. Back in September, the company had raised $103 million to set up a bank offering cryptocurrency-related services. At the time, CEO Guido Bühler had noted that the bank sees itself as a bridge between cryptocurrency assets and the traditional financial world. In the November interview, Bühler noted that SEBA Crypto AG expects to…

Court Takes Control of Funds Amid Crypto Exchange’s Banking Dispute

A Canadian court is taking charge of $26 million CAD claimed by crypto exchange QuadrigaCX due to a dispute over the funds’ provenance. Judge Glenn Hainey of the Ontario Superior Court of Justice granted the Canadian Imperial Bank of Commerce (CIBC) an interpleader order on Nov. 9, allowing the court to take control of the funds until their ownership can be established. However, the bank will maintain liability for the funds, given that CIBC froze the funds on its own initiative. An interpleader right occurs when at least two parties claim the…

Crypto Exchange Coincheck Resumes NEM Trading Almost 10 Months After Major Hack

Recently re-opened Japanese crypto exchange Coincheck has announced it has resumed NEM (XEM) crypto token trading after a restructuring of its platform by external “security experts,” South Korean news outlet FNNews reports Nov. 13. In January of this year, Coincheck suffered an industry record-breaking hack when $534 million worth of NEM was stolen from its wallets. This latest development from Coincheck reveals the exchange has “joined the Japan Security Association and is “ready to renovate its image.” Alongside NEM trades, the platform has also opened support for Ethereum (ETH) and…

Russian Crypto Exchange Gets Approval From Estonian Financial Watchdog

Russian cryptocurrency exchange B2BX has received regulatory approval from the Estonian Financial Intelligence Unit (FIU) to operate in the country, according to a press release published Nov. 12. Founded in 2014, B2BX is a part of the B2Broker group of companies and a full-featured spot trading platform, offering 34 cryptocurrency markets. In late 2017, the exchange conducted an Initial Coin Offering (ICO), with the objective of making an official business-to-business crypto exchange aggregator to connect institutional clients, forex/DMA and stockbrokers with digital currency exchanges. The recently obtained FIU license will…

Film Publishing Rights Firm Fintage House Now Accepts Crypto for Rights Transactions

Dutch rights management company Fintage House has signed a deal with blockchain-based social entertainment platform TaTaTu to start accepting cryptocurrency for rights transactions, entertainment industry news outlet Variety reported Nov. 12. Established in 1986, Fintage House specializes in the collection and management of TV, film and music publishing rights and licensing, as well as offering revenue collection and reporting for rights owners services. The partnership with TaTaTu enables Fintage House to accept the platform’s native token TTU for film and TV rights transactions. TTU tokens were originally designed to let…

Marshall Islands President Survives No Confidence Vote Prompted by National Crypto Plans

The President of the Republic of the Marshall Islands Hilda Heine has narrowly survived a no confidence vote that was partly prompted by her plans to introduce a national digital currency, Asia-focused English-language publication Nikkei Asian Review reports Nov. 12. The Marshallese parliament was reportedly split 16-16, just one vote short of the number needed to prompt Heine to resign the office of president. The country’s parliament had initially backed the creation of a national digital currency, called the Sovereign (SOV), in February of this year, to be distributed and…