Market Update 3.05.18 – Coinbase Facing Lawsuits over Insider Trading

| Publish date: 03/05/2018 (Last updated: March 22, 2018 04:17 PM)
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Coinbase Facing Lawsuits over Insider Trading

Coinbase, one of the largest cryptocurrency exchanges in the world, is facing another round of lawsuits. Some of the users have filed an official complaint which allege that employees of the exchange have been indulging in insider trading of the altcoin Bitcoin Cash.

While Coinbase has been in a lawsuit before – against the IRS – this lawsuit may prove to be much more damaging to the company. Allegations of insider trading are serious business and, while it remains to be proved, it can damage a company’s perception very badly.

Read the full story here.

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More SEC Subpoenas Issued

The Securities and Exchange Commission seems to be on a mission to clean up the ICO industry. The regulator has issued dozens more subpoenas to ICO issuers. The fact of the matter is that the government is worried about the illegal aspects of the nascent industry.

In the last few months, the SEC has been monitoring and going after ICO offerings. However, now, the regulatory body is also targeting everyone involved in the ICO issuing. This means, not just the centralized platforms (blockchains) issuing the tokens, but also the trading platforms (exchanges) for these tokens are being investigated.

Find out more here.

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European Banks Successfully Complete Live Transfer of Securities on R3’s Blockchain

European banks Credit Suisse and ING have successfully complete the first ever live transfer of securities using R3’s Corda blockchain platform. The transaction was for €25 million. The banks transferred the legal ownership of German and Dutch government securities using the HQLAX DCRs (Digital Collateral Records) on its Corda based app.

The press release stated that using DCRs to transfer securities was going to lead to greater transparency in regulations, reduce systemic and operational risks and help financial institutions handle capital more efficiently.

To read the full story, click here.

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Total Market Cap: Mar 05

The last 24 hours have seen cryptocurrency trading of $16.02 billion worth of trading volume. All digital assets being traded in the market currently have a market cap of $470.86 billion.

Bitcoin Price Analysis: Mar 05

The number one currency, Bitcoin, currently has a market price of $11,568.40, having gained 2.88% in the last 24 hours. Bitcoin saw a trading volume of $6.15 billion and its market cap has reached $195.35 billion.

Ethereum Price Analysis: Mar 05

The number two cryptocurrency, Ethereum, currently has a market price of $867.90, having gained 2.40% in the past one day. Ethereum saw a trading volume of $1.7 billion and its market cap has reached $85.05 billion.

State of the Top 10 Cryptocurrencies: Mar 05

**The information listed below spans the past 24 hours of trading in the top 10 cryptocurrencies.

  • The price of Bitcoin in the market is $11,568.40, rising 2.88% and its value is $195.35 billion.
  • The price of Ethereum in the market is $867.90, rising 2.40% and its value is $85.05 billion.
  • The price of Ripple in the market is $1.02, rising 13.33% and its value is $39.86 billion.
  • The price of Bitcoin Cash in the market is $1,282.39, rising 3.40% and its value is $21.80 billion.
  • The price of Litecoin in the market is $211.46, rising 2.01% and its value is $11.73 billion.
  • The price of NEO in the market is $118.55, rising 0.20% and its value is $7.70 billion.
  • The price of Cardano in the market is $0.293, rising 1.03% and its value is $7.60 billion.
  • The price of Stellar in the market is $0.378, rising 6.37% and its value is $6.99 billion.
  • The price of Monero in the market is $372.36, rising 7.41% and its value is $5.87 billion.
  • The price of EOS in the market is $8.16, rising 3.68% and its value is $5.78 billion.
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