What happened in crypto this week?
Price Watch
- is up 16% this week to $9,000. This comes as part of an increase across the entire cryptocurrency market. It’s also likely the result of. Fundstrat’s made a of bitcoin reaching $91,000 by March 28, 2020. Morgan Stanley .
- Ethereum is up 4% this week to $539. As usual, it’s trailing bitcoin in its recovery. Barring any sudden crash from bitcoin, many analysts expect a strong week.
- The entire crypto market is up this week. Although the market was mostly , it appears to have finished strong.
Regulation:
- More Ad Bans: Twitter it’s banning cryptocurrency ads with limited exceptions. This comes on the heels of a similar ban from last week. Competitor Facebook had in January.
- No Petro: Trump signed an this week banning US residents from engaging in transactions related to Venezuela’s “Petro”. It’s ambiguous at the moment . Petro has faced many obstacles after . It’s been by Venezuela’s Congress despite support from the President. It’s also been linked to which some consider a reason for Trump’s ban.
- on cryptocurrencies to be released by July. Cryptocurrencies have had mix reactions from G20 countries. Some nations, like Brazil, have already announced they will not regulate cryptocurrencies. This has been an area of great concern for governments seeking to .
- Hong Kong: Hong Kong this week a the highly anticipated Black Cell ICO. Despite repeated warnings, this was the first actual enforcement action in China. This comes on the heels of local news reports citing the Chinese citizens and investors have been using to participate in the crypto markets.
Startups
- : announced it will be investing $3 million into Barbados based is a blockchain based payments provider that caters to the Carribean. The Carribean is well known to have underdeveloped financial institutions and investors hope Bitt can change that.
- ICO Packs a Bunch: World famous boxer and Phillipino Senator Manny Pacquiao has become the investing in Singapore-based (GCOX). The startup allows celebrities to create their own cryptocurrencies which fans can then use to pay for access to exclusive celebrity-related content.
- VCs love CryptoKitties: Wildly-popular Ethereum application has raised $12 million in a funding round led by venture capital firms Andreessen Horowitz and Union Square Ventures (USV).
Featured image from Shutterstock.
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Published at Sat, 24 Mar 2018 21:28:05 +0000
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