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Tag Archives: Crypto

Sell-Off Plunges Crypto Market Cap Below $200 Billion

Twitter Facebook LinkedIn This week’s crypto downturn forced the cryptocurrency market cap past an uncomfortable milestone on Wednesday, with the cryptocurrency market cap dropping below the $200 billion mark a day ahead of the contentious Bitcoin Cash hard fork. The crypto market had traded as high as $220 billion on Nov. 7, about the time many bulls were anticipating that ...

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Tokyo Police Arrest 8 Men Allegedly Involved in $68 Million Crypto Pyramid Scheme

Tokyo police have arrested eight men that are suspected of collecting a total amount of $68.4 million in cash and cryptocurrency using a pyramid scheme, Japanese daily newspaper Asahi Shimbun reports Wednesday, Nov. 14. The suspects claimed to run a U.S. investment company dubbed “Sener,” conducting seminars with foreign speakers. The police report that at least one of the meetings ...

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Bank of America Could Store Crypto Deposits for Big Companies

Twitter Facebook LinkedIn Despite their harsh exterior, banks have been quietly preparing for a world that involves cryptocurrencies. Bank of America has most recently secured a patent for a cryptocurrency aggregation system, one in which big companies store customers’ crypto deposits in an enterprise account involving vaults and offline storage rather than taking on the risk themselves. For example, “deposit accounts at ...

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Mining Pools Rule, Individual Crypto Mining Deemed No Longer Viable

Although institutional players have continued to throw money at crypto assets and up-and-coming blockchain-focused projects, reports indicate that the mining subset of this industry has faltered, and greatly at that. GPU-Powered Ethereum Mining Now Unprofitable In mid-August, NewsBTC reported that some forward-thinking students, like Penn State grad Patrick Cines, had once sought it advantageous and profitable to set up shop mining ...

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Banks Required to Provide Fair Services to Crypto Exchanges

On October 30, South Korea’s main financial authority officially cleared banks to work with crypto exchanges for the first time in history, establishing a major milestone for the local cryptocurrency sector. At the state affairs audit, held by both government parties of South Korea to evaluate and track the progress of every government branch and agency under the administration of ...

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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 ...

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Thai SEC Urges Public to Avoid Unlicensed Crypto Exchange as Regulation Set to Take Effect

Thailand’s financial regulator has told a cryptocurrency exchange to cease advertising and warned citizens not to use it due to legal uncertainty, the Thai Securities and Exchange Commission (Thai SEC) reported Tuesday, Nov. 13. In the release, the Thai SEC said it had not officially endorsed Q Exchange, a joint Thai and South Korean venture, within the framework of its ...

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Bank of America Wins Patent for Storing Clients’ Crypto Holdings in Enterprise Accounts

The Bank of America (BoA) has won a patent for a system for enterprises to store customers’ crypto deposits, published by the U.S. Patent and Trademark Office (USPTO) yesterday, Nov. 13. The patent, first filed in mid-June 2014, outlines the background to the invention by stating that “as technology advances, financial transactions involving cryptocurrency have become more common,” and noting: ...

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$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 ...

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