Market Update 4.01.19 – Assets of Vanbex Founders Frozen by Canadian Police

| Publish date: 04/01/2019
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Assets of Vanbex Founders Frozen by Canadian Police

The police in Canada have frozen the assets of the founders of Vanbex, a Blockchain based services company, as part of its investigation of fraud committed during a 2017 ICO that raised about $22 million. Vanbex, which is led by Lisa Cheng and Kevin Hobbs, had raised around C$30 million (~$22 million) in fiat as well as cryptocurrencies during the sale of the company’s token called Fuel.

The company had informed investors that the funds raised were going to be used for the development of a smart contract system named Etherparty, and that they expected the value of their crypto Fuel to increase dramatically after that.

Read the details of the story here.

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21-Year-Old Entrepreneur Trying to Sell Company on eBay

Ivan Komar, a 21-year-old entrepreneur who owns a crypto-based startup called Sponsy, is trying to sell his failed ICO (initial coin offering) on eBay for $60,000. Komar has launched his project towards the end of 2017, when he tried to organize a hack-a-thon for software developers in Minsk, which is his hometown in Belarus.

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However, he faced challenges in raising money and so came up with the idea of creating a platform which people could use to organize sponsorships. The plan was to develop a platform where all sponsorship deals were completely transparent.

Read the rest of the story here.

VK Contemplating Launching its Own Cryptocurrency

According to local news reports, Vkontakte (VK), the biggest and most popular social media platform in Russia, is thinking about developing its own cryptocurrency. An anonymous source within the company said that the project involved creating individual cryptocurrency accounts for all the platform’s users.

Based on a presentation that the local media outlet obtained, one of the ways that VK is planning to offer its tokens will be in exchange for the level of activity as well as the time spent on the social media platform. These tokens can then be collected and also transferred among the platform’s users, be exchange for goods or even be converted possibly into regular fiat currencies using the VK Pay platform. According to the information obtained, VK is also planning to integrate a tipping service into its platform.

Read the rest of the story here.

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Total Market Cap: Apr 01

The capitalization of the crypto market is at $145.40 billion and trading volumes are at $32.58 billion.

Bitcoin Price Analysis: Apr 01

Up by 0.91%, BTC’s price is now $4135.41, with a market capitalization of $72.86 billion. The crypto is currently experiencing trading volumes of $9.85 billion.

Ethereum Price Analysis: Apr 01

Up by 1.03%, the price of Ethereum is now $142.38 and its market cap is at $15.01 billion. The altcoin is currently experiencing trading volumes of $4.51 billion.

State of the Top 10 Cryptocurrencies: Apr 01

Tether, which is down by 0.06%, and Cardano, which has lost 0.10%, are the only two tokens in the top ten list of cryptocurrencies that are trading in the red at the moment. All the other eight cryptos in the list are in the green, with EOS leading the way with a 2% gain on its token price.

  • Bitcoin’s trading at $4135.41, gaining 0.91%. At this time, the virtual asset’s valuation is $72.86 billion.
  • Ethereum’s trading at $142.38, gaining 1.03%. At this time, the virtual asset’s valuation is $15.01 billion.
  • Ripple’s trading at $0.311621, gaining 0.84%. At this time, the virtual asset’s valuation is $12.99 billion.
  • EOS’s trading at $4.20, gaining 2%. At this time, the virtual asset’s valuation is $3.82 billion.
  • Litecoin’s trading at $60.79, gaining 0.77%. At this time, the virtual asset’s valuation is $3.71 billion.
  • Bitcoin Cash’s trading at $168.62, gaining 0.60%. At this time, the virtual asset’s valuation is $2.98 billion.
  • Binance Coin’s trading at $17.38, gaining 0.08%. At this time, the virtual asset’s valuation is $2.45 billion.
  • Stellar’s trading at $0.0108962, gaining 1.43%. At this time, the virtual asset’s valuation is $2.09 billion.
  • Tether’s trading at $1.00, losing 0.06%. At this time, the virtual asset’s valuation is $2.03 billion.
  • Cardano’s trading at $0.070290, gaining 0.10%. At this time, the virtual asset’s valuation is $1.82 billion.
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