Market Update 12.23.18 – Coinbase To Donate Crypto Wealth To Charity

| Publish date: 12/23/2018
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Market News

Coinbase To Donate Crypto Wealth To Charity

Coinbase, through its CEO Brian Armstrong, has just joined other mega-wealth individuals in donating a great portion of his net-worth to charitable and other causes. The decision to do so was made official via a blog post on The Giving Pledge, which is a website founded by both Warren Buffet and Bill Gates.

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Armstrong announced via Twitter that he just signed the pledge, hoping it would help make the world a better place. He added that he is still early in his journey towards philanthropy, as well as the impact it brings. The Giving Pledge is all about helping many of the pressing issues sustained by the society on a daily basis. Through its platforms, wealthy people can donate to more than half of their net-worth during their lifetime or, if possible, in their will.

Read the full report here.

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Crypto To Be Regulated Differently In The U.S.

It appears that the United States has found a way to regulate crypto assets in a way it is different than stocks, as well as those traditional assets. The move can be done simply by changing an already existing regulatory framework, which basically covers securities.

Two congressmen by the names of Darren Solo and Warren Davidson reportedly brought a partisan bill, which is called “Token Taxonomy Act.” The two believe that this bill would help prevent the infamous over-regulation common in the cryptocurrency world.

Despite being on its early stages, the bill needs to have more clarity, a narrative that many crypto companies are voicing out. In fact, this dilemma is what exactly pushed other projects to leave the American soil and pursue the task on other countries like Singapore and Switzerland.

Read the full report here.

Crypto Firms Merge To Build Institutional Investor Software

At least two crypto companies have decided to merge in hopes of making crypto-asset management a bit easier for all institutional investors. CoinVantage, which is formerly under the umbrella of MG Stover, will be working alongside Picks & Shovels (tool provider for crypto players) to become a brand new company called Interchange.

The firm, which has a total of 8 members, features a variety of software products, all of which are expected to service more than 100 clients. This include, but not limited to, administrators, exchanges, and hedge funds. The merger will allow both companies to combine their systems in a bid to create a superior product.

Read the full report here.

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Total Market Cap: December 23

The volume of trade in the crypto market sat at $16.76 billion. The market’s capitalization, on the other hand, reached $129.99 billion.

Bitcoin Price Analysis: December 23

In the past 24 hours, Bitcoin jumped 1.77% to trade at $3,950.52. The leading cryptocurrency’s trade volume trickled to $5.5 billion, while its market slid to $68.89 billion.

XRP Price Analysis: December 23

XRP’s price jumped 0.66% to trade at $0.359666. As for the altcoin’s trading volume, it reached $473.59 million; whereas its market capitalization hit $14.67 billion.

State of the Top 10 Cryptocurrencies: December 23

In the past 24 hours, all prices were up. Meanwhile, TRON continues to dethrone Cardano at the 10th spot.

  • Bitcoin’s market price jumped 1.77% to $3,950.52, and its value in the market is $68.89
  • XRP’s market price jumped 0.66% to $359666 , and its value in the market is $14.67 billion.
  • Ethereum’s market price jumped 5.89% to $33, and its value in the market is $11.99 billion.
  • Bitcoin Cash’s market price jumped 4.59% to $194.33, and its value in the market is $3.41 billion.
  • EOS’ market price jumped 0.37% to $2.59, and its value in the market is $2.35 billion.
  • Stellar’s market price jumped 1.93% to $120999, and its value in the market is $2.32 billion.
  • Tether market price jumped 0.21% to $1.02, and its value in the market is $1.89
  • Bitcoin SV’s market price jumped 1.66 to $106.98, and its value in the market is 1.87 billion.
  • Litecoin’s market price jumped 2.30% to $31.27, and its value in the market is $1.87 billion.
  • Tron dethroned Cardano at the 10th spot, with its market price jumping 4.56% to $0.020809. As for its value in the market, it is $1.39 million.
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