bitcoin Price Watch:
- bitcoin is down 8% this week continuing a trend of an almost 20% drop over the last month. Earlier today, the bitcoin price hit a low for 2018 of $5,825 causing when bitcoin experienced an 80% correction. Despite the precipitous drop, analysts have remained optimistic because Mt. Gox liquidation is , and the which is expected to draw institutional investors to the cryptocurrency markets.
- Ethereum is down 11% this week despite a recent landmark SEC ruling that Ether does not constitute a . The drop follows a pattern observed by analysts many times over the past year where altcoins mirror bitcoin with more exaggerated moves.
- The entire coin market cap is down 13% this week following a precipitous drop by this week. Analysts have blamed the fall on an before the main net launch and recent criticism over EOS constitution and how centralized it is. So far have been frozen due to .
Bulls:
Regulation:
- South Korea fears regulation will “legitimize market”– At a recent policy advisory meeting, the director of confirmed that the government delayed regulating cryptocurrencies for years because it would “legitimize” a market the government viewed as piece-meal.
Hacks:
- – In China, over 100,000 internet café computers have been infected with malware designed to mine cryptocurrencies. Unlike most cryptojacking malware, which limits its resouThrce usage to avoid detection, this malware runs at full speed resulting in higher electricity costs and computers becoming unusable. Sixteen have been arrested so far.
- – Korean exchange Bithumb has been hacked a third time in the past year. This follows the hacking of another Korean exchange, and for increased regulation in the country.
- – Cornell professor Emin Gün Sirer has predicted that a vulnerability in EOS, caused by its centralization and its teams inability to handle safety issues in the past will lead to a massive exchange hack, affecting even those who don’t use EOS.
Adoption:
- U.S. Senate Candidate was forced to return a $130,000 bitcoin donation. I interviewed Petersen about the implications of bitcoin on federal elections. Overall, Mr. Petersen has received over 24 bitcoins and has been forced to return multiple other large donations because they violated FEC rules.
- Mining in China continues to flourish despite across the cryptocurrency sector little to no regulation has been enacted to stop mining.
- Square granted ‘BitLicense’ in NY- , a publicly held fintech company headed by Twitter CEO was granted a license to exchange virtual currencies in New York through the . Square is now the seventh company granted such a license
- – Just hours after its release, NANO is urging users to move funds from its Android app. The , while hard to exploit in practice, is still more bad press for a coin recovering from a earlier this year.
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Published at Sun, 24 Jun 2018 23:02:52 +0000
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