Daily News Digest Featured News

Friday November 23 2018, Daily News Digest

Litecoin buy signals
Source: Cryptoground

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News Summary

United States

Coinbase Faces Fresh Bitcoin Cash Insider Trading Lawsuit Following Initial Rejection (CoinTelegraph), Rated: AAA

Users who filed a class action lawsuit against U.S. cryptocurrency exchange and wallet provider Coinbase will now go to court Jan. 31, 2019, new court documentsfiled Nov. 20 confirm.

The lawsuit, which Jeffery Berk filed earlier this year to address alleged insider trading of Bitcoin Cash (BCH) among Coinbase officials in 2017, failed to make it to trial in October.

Coinbase Loses Exec To VC Giant Amid Crypto Market Turmoil (Ethereum World News), Rated: A

However, in a direct contradiction to this colloquially-dubbed ‘brain drain’, Bloomberg’s Julie Verhage has divulged that Michael (Mike) Lempres, who joined Coinbase in 2017, has decided to depart from the booming crypto startup now valued at $8 billion.

Lempres, who was assigned as Coinbase’s chief risk and legal, was revealed to be leaving his position at the budding crypto-centric startup for Andreessen Horowitz, a world-renowned venture capital firm that has close business ties to Coinbase and a number of crypto-focused projects.

BITCOIN WILL BE THE AMAZON OF CRYPTOCURRENCY, SAYS VC ADVISOR (Bitcoinist), Rated: AAA

Speaking recently to CNBC, the CryptoOracle partner said that long-term Bitcoin holders reaped massive gains every couple of years. Kerner’s comments come at a time when BTC and other cryptocurrency prices have taken a significant nosedive.

tech bubble
Source: Bitcoinist

There was a day in 2013 when we were down 70 percent overnight. Nobody likes being down like this. But this is what investing in crypto is all about.

Is the Bitcoin Nosedive an Outright Accumulation Cycle? (CryptoSlate), Rated: AAA

There’s the noise that the US Justice Department’s months-long criminal probe into Bitcoin price manipulation, according to Bloomberg’s unnamed sources, may have suddenly closed in on Tether for its possible part in illegally orchestrating Bitcoin’s famed 2017 rally.

There’s Craig Wright’s much-reported, thinly veiled threat to send the original cryptocurrency plummeting, perhaps to $1000, by selling off BTC holdings and fueling his troops in the rapidly escalating Bitcoin Cash civil war.

Substantial evidence stands to suggest large entities were accumulating vast quantities of Bitcoin during the coin’s months-long $6000-6500 trading range on the OTC market—a booming business widely estimated to be at least two to three times larger in volume than the exchange market.

As Bitcoin turns 10, its future is on the rocks (The National), Rated: A

Bitcoin turns 10 this year, but there’s not much to celebrate. Its price has tumbled to near $4,000, down 30 per cent in a month, 50 per cent in six months and almost 80 per cent since December.

Bitcoin [BTC] is the world’s “most liquid and widely distributed cryptocurrency”, says Bakkt (AMBCrypto), Rated: A

Bakkt clarified that it was being developed in close conjunction with the United States Commodity and Futures Trading Commission [CFTC], which has the jurisdiction to regulate Bitcoin owing to the coin being ruled as being a commodity.

Reportedly, Bakkt has been asked why they were starting with Bitcoin, with the reply from them being:

“Bitcoin today accounts for over half of total crypto market capitalization and has been deemed to be a commodity, and its derivatives are regulated in the US by the CFTC…As the world’s most liquid and widely distributed cryptocurrency, and where we’ve seen the most customer demand, Bitcoin’s profile creates a liquid product on which to build a futures contract.”

Ripple Price Analysis: XRP/USD Could Retest

Ripple Price Analysis: XRP/USD Could Retest $0.40 Before Upside Break (Ethereum World News), Rated: AAA

.40 Before Upside Break (Ethereum World News), Rated: AAA

The past few days were very choppy for ripple price as it declined after holding the $0.4580 support for a long time against the US Dollar. The XRP/USD pair declined below the $0.4250 support and traded towards the next support at $0.4050.

During the rise, the price also broke the 23.6% Fib retracement level of the last slide from the $0.4997 high to $0.4004 low. However, the price seems to be struggling near the $0.4500 and $0.4580 resistance levels. Moreover, it is currently well below the $0.4700 pivot level and the 100 simple moving average (2-hours).

Ripple
Source: Ethereum World News

Is an alliance between Ripple and Stellar (XLM) in the works? (Global Coin Report), Rated: A

So, a funny (and unexpected) thing happened, not too long ago. Jed McCaleb’s XRP wallet received 40 million XRPtokens, and nobody knows who sent him or why. The transaction could seem irrelevant, but there’s a reason for the cryptoverse to pay attention to it.

Jed McCaleb is Ripple’s founder, but he left a few years ago to create a new blockchain project called Stellar Lumens (XLM). That’s where he works now, and Stellar is considered to be Ripple’s main and most direct competitor in the crypto space because they are trying to gain adoption in many of the same markets, mainly in the financial sector.

So rumors are spreading. Was Ripple behind that almost 20 million dollar payment to its former boss? Or are Ripple and Stellar Lumens trying to come out with a strategic alliance?

91% of Ripple Employees Say Their Workplace Is Great (Blokt), Rated: B

Blockchain and cryptocurrencies form a fast-moving and highly volatile industry with many challenges and rewards. After all, building and introducing new disruptive technology to the world is not an easy task. However, at Ripple, they seem to have gotten their working environment just right as according to reviews at Great Place to Work, 91 percent of Ripple employeesfind the company a great place to work.

Why Major Crypto Exchanges are Granting Bitcoin Cash With BCH Ticker (CCN), Rated: A

The hash power war between Bitcoin Cash (BCH) and Bitcoin Cash SV (BCHSV) ended with a one-sided victory for BCH.

On November 23, Calvin Ayre, a billionaire casino mogul behind SV, encouraged investors of Kraken to stay away from the exchange for “manipulating” the crypto market by providing Bitcoin Cash with the BCH ticker.

Litecoin (LTC) Price Predictions / Litecoin (LTC) Forecast (Cryptoground), Rated: A

The Commodity Channel Index (CCI) is a momentum oscillator used in technical analysis to measure an instrument’s deviation from its statistical average. Commodity Channel Index is showing Buy signal, with value at -125.16.

Litecoin buy signals
Source: Cryptoground

Colorado securities commissioner signs 18 cryptocurrency ICO orders, with two more pending (Biz Journals), Rated: A

The Colorado Division of Securities created an ICO Task Force to investigate possible illegal securities offerings in the form of ICOs.

BitPay Integrates PAX Stablecoin Into Cryptocurrency Payment Platform (Bitcoin Magazine), Rated: A

Bitcoin payment platform BitPay is now going to allow payments with the Paxos Standard token (PAX), which it calls “the fastest growing stablecoin and the highest trading volume of any U.S. dollar-backed stablecoin.”

GAB Social Network Opts To Use BitPay For Bitcoin Payments (Bitcoin Exchange Guide), Rated: A

Early October brought some new ultimatums for the network, as payment processor Strip demanded that Gab remove “adult or illegal content” from their website within a two-week period. Shortly after the synagogue shooting that happened in Pittsburgh a few short weeks later, PayPal and Stripe banned the network. Though it was not revealed until after the ban, it seems that their decision correlated with information that the shooter posted anti-Semitic speech on Gab’s website, posting “I’m going in” just before the shooting. As this news was announced, their hosting provider Joyent, along with GoDaddy and Medium, ended their relationships.

Dr Doom Claims Central Bank Digital Currencies Could Destroy Crypto (NewsBTC), Rated: A

If central banks issue their own digital currencies, then it would destroy cryptocurrencies like Bitcoin, wrote Nouriel “Dr. Doom” Roubini in his latest column.

The article, titled “Why central bank digital currencies could destroy crypto,” saw the American economist building up his rants against the cryptocurrency space.

Digital Coin Rules Needed to Provide Legitimacy, Spur Growth (Bloomberg Tax), Rated: A

Companies that provide services to cryptocurrencies, such as bitcoin, are eager to see governments establish specific regulations that would encourage trust in the industry, potentially enabling it to grow faster.

SEC has given a last warning to the cryptocurrency space, says Preston Byrne (AMBCrypto), Rated: A

Byrne stated that the SEC has not precluded ICOs from being registered, whereas, they have just stated that ICOs have to be registered. If not this, then the ICO must be included in an exemption. This includes a private placement deal such as Simple Agreement for Future Tokens [SAFT] under regulation D. The other common exemption is regulation S wherein ICO issuers who are based abroad and have no US touch points are going through compliance to avoid having US touch points.

Blockchain 3.0 and COTI – Next Generation Technology Without Mining? (Forbes), Rated: A

A new company called COTI has designed a new block-less and miner-less blockchain which they claim solves the scalability issue of cryptocurrencies and makes bitcoin look slightly backward. Cryptocurrencies were all were introduced to make payments cheaper, faster, secure and easier. Arguably, they’ve done anything but so.

The time and money it takes for miners to confirm transactions mean that Bitcoin transactions can conduct 3-5 TPS (transactions-per-second), and Ethereum marginally better at 15 TPS. It’s a clear problem if we expect millions to use cryptocurrencies for their everyday shopping. Not to mention the nightmare of wallet address, and the energy consumption to code.

New York Resident Arrested over $ 1 million Cryptocurrency Theft (Ethereum World News), Rated: B

Nicholas Truglia, a 21-year-old Manhattan resident, is currently in police custody over his involvement in the theft of cryptocurrency worth $1 million. Truglia also stands accused of hacking the mobile devices of Silicon Valley executives in a bid to gain access to their crypto holdings illegally.

International

Crypto Market Continues Slow Bleed Out But Tokens Record 20% Gains (CCN), Rated: AAA

While large market cap digital assets recorded minor losses, small market cryptocurrencies and tokens demonstrated gains in the range of 5 to 20 percent.

Basic Attention Token (BAT), the native cryptocurrency of Brave Browser, increased from $0.16 to $0.185, by around 16.5 percent.

Crypto market
Source: CCN

Amazon Web Services outage forces major cryptocurrency exchanges offline (The Next Web), Rated: AAA

Two major South Korean cryptocurrency exchanges have been forced offline, after critical Amazon Web Services (AWS) servers suffered nationwide failure Thursday morning.

AWS, one of the world’s widely used cloud services, was hit with major internal server failures that brought popular digital asset exchanges, Upbit and Coinone, to a screeching halt.

Crypto Leaders Weigh In On Bitcoin Collapse, $ 3,000 Target Touted (Ethereum World News), Rated: A

Tone Vays, a former institutional trader turned Bitcoin maximalist, first noted that in his opinion, that was no factor that catalyzed crypto’s recent crash, nor was there a catalyst behind Bitcoin’s monumental run-up throughout the year of 2017. Simply put, the trader noted that BTC was “overpriced,” and it has been for the past year.

Alex Tapscott, the co-author of BlockchainRevolution, crypto’s de-facto bible and primer, echoed this sentiment that BTC was evidently overvalued, adding that the current correction hasn’t been fundamentally based.

Ethereum feels like the easiest one to make a bull case for now says Top VC (Blockmanity), Rated: A

Fred Wilson, a Venture Capitalist who is not afraid of sharing his opinions, posted a recent short blog on why Ethereum’s scope of becoming something major is high.

RoboForex Launches Ethereum Accounts (Coinspeaker), Rated: A

ETH will be available as a base currency for most account types, such as Standard, Cent, ECN, and Prime. Funding and withdrawal is available through Ethereum platform. RoboForex Clients will be able to trade with EHT accounts on MetaTrader 4 and 5. Just like with BTC accounts, ETH will be available as mETH on the platform, with 1 mETH being equal to 0,001 ethers. The maximum leverage is same as for BTC, too, being 50:1.

How Crypto Exchanges Remain in Profit Irrespective of market downtrend (ZyCrypto), Rate: A

One of the key element that could not be sidelined in this crypto market is crypto exchanges. According to a Bloomberg report, it was recorded that cryptocurrency exchanges that are among the top 10 with respect to information available on cryptocurrency monitoring site ‘Coinmarketcap’ make at least $3 million daily in terms of revenue as at 2017. One of the largest cryptocurrency exchange in the US, Coinbase ranked a revenue above $1 billion at the end of last year.

Report: Expressed Corporate Interest in Blockchain Declining (Crowdfund Insider), Rated: A

The word “blockchain” and other related buzzwords are being uttered less by corporate executives in earnings calls and in presentations to investors and analysts, says Axios reporter, Courtenay Brown.

“Analysts are also asking about it less,” she writes.

European Union

Deep Flaw Allows Illicit Token-Minting on Ethereum Network (Toshi Times), Rated: AAA

A flaw has been uncovered on the Ethereum network which potentially allows malicious actors to mint large volumes of the GasToken when receiving Ethereum transactions.

Ethereum Price Analysis: ETH/USD Extending Declines Below $ 120 (NewsBTC), Rated: AAA

Yesterday, we saw a minor upside correction in ETH price from the $122 support against the US Dollar. The ETH/USD pair corrected above the $130 and $132 levels. The price also moved above the 50% Fib retracement level of the last slide from the $145 high to $121 swing low. However, the upside, move was capped by the $135 an $136 resistance levels.

Ethereum
Source: NewsBTC

Binance boss takes aim at Ripple “shills” (Crypto News Review), Rated: A

With regards Binance boss Zhao, he’s taken to this Twitter feed to declare that he’s tired of the ‘shilling’ associated with this digital asset. While fans of Ripple hope to see it become Binance’s base currency, the company hasn’t confirmed any such plans.

France: Central Bank Does Not Endorse Plans for Tobacco Shops to Sell Bitcoin (CoinTelegraph), Rated: A

France’s tobacco federation, the Fédération des Buralistes, has obtained permission to sell Bitcoin (BTC) at tobacconists from January 2019, privately owned French radio network Europe 1 reported Nov. 21.

In a deal with French cryptocurrency wallet provider KeplerK, beginning early next year, up to 4,000 small shops will sell Bitcoin vouchers that customers can then exchange for cryptocurrency on KeplerK’s website when they open a wallet.

BTC will be available in denominations of 50, 100 and 250 euros and will subsequently roll out to remaining outlets.

Norway Ends Power Tax Subsidy for Bitcoin Miners (CoinDesk), Rated: A

According to a report from local news outlet Aftenposten, in its state budget, the government said that cryptocurrency miners in the country will have to pay normal electricity tax from the New Year.

At the moment, larger mining firms receive the same electricity tax discount as other power-intensive industries in the country. Those with a capacity of more than 0.5 megawatts are charged only 0.48 øre ($0.00056) per kilowatt hour instead of the standard rate of 16.58 øre ($0.019). An øre is 100th of a Norwegian krone.

That means that eligible miners have been paying just 2.8 percent of the standard rate to power their rigs.

Gibraltar’s Regulator Grants Full License to the Gibraltar Blockchain Exchange (Bitcoin Magazine), Rated: A

The Gibraltar Blockchain Exchange (GBX) has been granted a license from the Gibraltar Financial Services Commission (GFSC) required to operate a regulated blockchain exchange.

Spanish Tax Authorities Clamping Down on Cryptocurrency Holders (Blockonomi), Rated: A

With global governments now appreciating the potential tax revenues available on the back of cryptocurrency profits, the Spanish tax authorities seem to be following suit. According to a report by Spanish news publication El Pais, the Spanish Treasury is now one step closer to identifying thousands of individual owners of cryptocurrency holdings.

Swiss Railway Tests Blockchain Identities for Workplace Safety Boost (CoinDesk), Rated: A

Swiss Federal Railways (SBB) has completed a proof-of-concept (PoC) of a blockchain-based credentials management system for workers employed at the company’s construction sites.

Blockchain should be used to augment certain business processes, *not* to replace them (Jaxenter), Rated: A

The Blockchain Technology Conference has come to an end but now’s the perfect time for an overview of the most important takeaways.

In her session titled Ethereum fundamentals, Jana Petkanic discussed the popularity of Ethereum, how it differs from Bitcoin protocol and what kind of features we find on its roadmap. She started the talk by saying that blockchain is a bubble and only genuine projects will survive – Ethereum could be one of them.

Michael Kolain and Christian Wirth joined forces to discuss the implications of GDPR and how blockchain can be used as a transparency layer where the consent lies.

BBVA and Santander to join European Commission blockchain industry body (Ledger Insights), Rated: B

Spanish banks BBVA and Santander attended the event. According to a statement, Carlos Kuchkovsky Head of Research & Development New Digital Business at BBVA emphasized that blockchain isn’t just a technology. There needs to be an appreciation of the potential for new business models empowered by a tokenized economy, “paving the way to a decentralized economy in the future.”

United Kingdom

After the bitcoin crash — here’s where bulls and bears see it going (FN London), Rated: AAA

Following a blistering 80% decline from its peak this year, the brutal drop in the price of bitcoin has market participants wondering what’s next for the No.1 digital currency.

After logging six losing sessions over the previous seven, analyst Jani Ziedins of CrackedMarket said a short-term bottom may be around the corner and those brave enough could be in for some lucrative gains.

“Look for the selling to continue over the next few days, but a bounce off of $3.5k-ish that returns to $5k is likely. While that doesn’t sound like a lot given the latest tumble, a bounce from $3.5k to $5k is a nearly 50% payout for just a few days of work,” he wrote.

Ripple (XRP)’S Uptrend Remains Intact Despite Recent Selloff (CryptoDaily), Rated: A

The daily chart for XRP/USD shows that Ripple (XRP) has now found a strong support at the $0.457 level. The price has held this level during a recent retest and is unlikely to fall below it. The daily RSI has also cooled down without doing much damage to the price of Ripple (XRP). In fact, as the market recovers Ripple (XRP) might once again be due for another rally.

The EMA alignment for Ripple (XRP) has now turned bearish and one would expect it to fall further. However, Ripple (XRP) seems to be holding strongly above the trend line and does not appear likely to drop below the support and the trend line. That being said, the 5 Day EMA has now turned into a strong resistance that Ripple (XRP) may not be able to break anytime soon.

Ripple XRP
Source: CryptoDaily

Will the UK be the definitive Ripple test case? Yes. Here’s why. (Global Coin Report), Rated: A

There are around nine million migrant workers in the UK. Low-paid jobs boast more the rule than the exception for them and they still find ways to send 8 billion pounds yearly to their families in their home countries. We are talking about jobs that are at the end of the food chain, so it’s very hard-earned money.

The point that Unesco makes in its reportis that too much of that money is lost to the workers (and their families) in transfer fees. Unesco believes that wiring money around the world should cost no more than 3%. And yet the average is 7%.

Litecoin (LTC) Still Has Room For Further Downside (CryptoDaily), Rated: A

The recent market correction seems to be more than a correction in terms of prices. It appears to be about righting most wrongs. For instance, coins that got pumped hard during the previous rallies without having solid fundamentals or use cases have been the ones to suffer the most. Litecoin (LTC) seems to be one of those coins. Having once been the beneficiary of FOMO surrounding Coinbase listings, Litecoin (LTC) is now just another coin on Coinbase. The reason LTC/USD did so well after its Coinbase listing was because it was the cheapest coin on Coinbase with a lot of room to go. Investors preferred to own one whole coin rather than a portion of Bitcoin (BTC).

Litecoin
Source: CryptoDaily
China

BITCOIN PRICE CRASH CAUSES BANKRUPTCY AND MASS CRYPTOCURRENCY MINE CLOSURES (Independent), Rated: AAA

Bitcoin mining operations in the US and China are facing closures after the plummeting price of bitcoin means they may no longer be profitable.

Hon Kong-based mining platform Suanlitou announced this week that it was unable to cover electricity fees for a 10-day period in November, according to the South China Morning Post.

Another group of Chinese cryptocurrency miners also reportedly shut down 20,000 mining rigs due to the fall in profitability.

Crypto Miners Sell off Mining Devices ‘by Kilo’ Amidst Market Decline (CoinTelegraph), Rated: A

Cryptocurrency mining operations in China are reportedly selling miningmachines by weight, as opposed to price per unit. This selloff was reported by local Chinese crypto outlet 8BTC Wednesday, Nov. 21, with reference to the cryptocurrency mining pool F2Pool.

Australia/New Zealand

Blockchain Company Develops ‘First’ Crypto Wallet with Built-in Decentralized Exchange (Coinspeaker), Rated: AAA

To drive the financial inclusion and further adoption of the blockchain in finances, the Sovereign Wallet is building a mobile wallet with “banking grade” security and proprietary stablecoin, which is to be equipped with a decentralized exchange – M.DEX.

Institutional Investors Are Officially Entering the Cryptocurrency Market (Bitcoin Australia), Rated: A

Bloomberg reported that institutions had replaced individuals as the largest Bitcoin buyers. Institutional investors had entered the market through organising transactions with Bitcoin miners. Specifically, “institutional miners”, who use fleets of computers to generate the digital currency.

Move ahead a little over a month to early November. Forbes Magazine publishes the names of some of the institutional investors involved. Names like Goldman Sachs, which started offering a Bitcoin trading product. The New York Stock Exchange is also becoming involved with a Bitcoin futures market.

Institutional investors putting big money into cryptocurrencies may contribute to stabilising market. Yet, institutional investors reacting to market changes often makes markets more volatile. With cryptocurrencies being a volatile market, this could be particularly dangerous.

Asia

Singapore announces funding for blockchain innovation and adoption (The Next Web), Rated: AAA

Today, in a press release the Info-communications Media Development Authority (IMDA) of Singapore announced seed funding for companies to develop a comprehensive blockchain platform to connect all stakeholders from within and outside the industry. The amount of funding hasn’t been disclosed.

Singapore Exchange Publishes Expectations for Listed Companies Also Planning ICOs (Crowdfund Insider), Rated: A

One of Asia’s largest stock exchanges is putting the breaks on any company already listed this is also looking to issue an ICO (initial coin offering).

According to a recent blog post from the Singapore Exchange (SGX), companies already listing traditional equities on the SGX that are also planning an imminent ICO will have to prove their initial coin offering meets multiple investor protection-style standards.

The journey of a blockchain pioneer (Tech in Asia), Rated: A

Jack Yeu, Switcheo Network’s co-founder and chief commercial officer, got his first crypto coin after having drinks with a friend sometime last year.

Singapore’s State Investment Firm Backed R3 as Part of Blockchain and AI-Focused Strategy (CoinTelegraph), Rated: B

Singapore’s state investment firm Temasek Holdings Pte has invested in enterprise blockchain software firm and global banking consortium R3, according to a Bloomberg report Nov. 22.

Can Fidelity and Bakkt Fix Bitcoin’s Liquidity Problem? (Toshi Times), Rated: A

It’s no secret that cryptocurrencies are facing a Bear market, with Bitcoin leading the way. In the past week alone, the digital currency has lost more than 35% of its valuation. The vast majority of cryptocurrency analysts believe that the hard fork of Bitcoin Cash is the culprit behind the ongoing crash.

Seoul Postpones ICO Ruling Amid Market Drop (Cryptonews), Rated: A

The chairman of South Korea’s National Policy Committee has stated that a parliamentary debate on the country’s controversial ICO (Initial Coin Offering) ban could take place next month – and says Seoul will likely make its position clear on the matter in December, rather than this month as previously pledged.

Japan Payment Fraud Being Fought By SBI Ripple (CryptoDaily), Rated: A

SBI Ripple Asia and the Japan Payment Card Consortium intend to fight against fraud by utilising blockchain technology.

India: Further Charges Levelled at Suspects in Alleged Cryptocurrency Investment Scam (CoinTelegraph), Rated: A

Police in the northern Indian city of Chandigarh have filed a chargesheet against four suspects accused of scamming a victim out of ₹6-10 crore ($0.8 – 1.4 million) in a cryptocurrency investment fraud, local English-language broadsheet the Times of India reports Nov. 22. b.

SWIFT India and MonetaGo Fintech Firm to Trial a Blockchain Distributed Ledger Network (Bitcoin Exchange Guide), Rated: B

SWIFT India, a company that provides financial messaging services for India, alongside with MonetaGO, a fintech company, announced a partnership to launch a pilot program based on blockchain technology. With this new pilot program, the intention is to benefit Indian banks.

Messaging Platform Kakao to Lure Crypto Investments in Singapore (Coin Pedia), Rated: B

According to source report, Kakao is building a brainchild of Ground X in Singapore- Klaytn. Ground X is basically a subsidiary at Kakao platform and is looking forward to expanding their corporation’s blockchain platform Klaytn.

MENA

New crypto wallet, trading platform launches in the UAE (Arabian Business), Rated: AAA

Bitex UAE said it offers customers multiple cryptocurrencies including Bitcoin, Ethereum, Litecoin and Bitcoin Cash at competitive rates for buying, selling and trading.

Bitcoin is dead — long live digital currencies (Arab News), Rated: A

At a recent conference in Abu Dhabi on blockchain technology and the financial industry, the governor of the UAE central bank said that he was in discussions with the Saudi Arabian Monetary Authority over the potential launch of a digital currency in a ground-breaking joint venture between the two countries.

Africa

Five reasons cryptocurrency prices are plunging again (Business Daily), Rated: AAA

The news on Wall Street this week has been bleak: sharp declines, fears of a bear market and high-flying technology stocks that suddenly took a tumble.

Most cryptocurrency trading happens outside the United States on exchanges with little or no regulatory oversight. That allowed investors to pile in with abandon, but the inherent dangers have long been clear.

Bitcoin Cash

The people backing Bitcoin Cash subsequently had their own disagreements. This week, they splintered into two groups. In the software world, it’s known as a fork: Bitcoin Cash was split into two new cryptocurrencies, Bitcoin ABC and Bitcoin SV.

Authors:

George Popescu
George Popescu
Allen Taylor
Allen Taylor

About the author

Allen Taylor

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