Market Update 5.11.19 – Curv Partners with Minch Re to Get $50 Insurance Coverage
Market News
Curv Partners with Minch Re to Get $50 Insurance Coverage
According to a press release issued by crypto securities company Curv on May 10, it has partnered with Munich Re, an insurance company to get $50 million in insurance coverage. This new insurance package is designed to cover cases where bad actors have gained access to Curv or its customers’ shares. For a transaction to be carried out, access to both the company as well as its customers’ shares would be needed.
The press release stated that even if an extreme scenario where both parties’ shares were simultaneously breached and a transaction was carried out, the insurance that Curv had just secured would cover the losses.
Read more about this story here.
US Senate Concerned about Facebook’s New Crypto Project
The US Senate Banking Committee showed its concern over Facebook’s new cryptocurrency project via an open letter to the social media giant’s co-founder and Chief Executive Officer, Mark Zuckerberg. The Senate Committee issued this letter on Thursday, May 9, asking him to share the details of the company’s secret crypto project, codenamed Project Libra, with particular focus being given to consumer privacy.
The letter stated that privacy experts have raised concerns about Facebook’s massive data collection practices, as well as whether this data collected had been used for purposes that did not fall under the Fair Credit Reporting Act. Because of these concerns, the Banking Committee asked Facebook to explain how Project Libra would work.
Read more about this story here.
Buterin & Lubin Donate 1,000 ETH to Moloch DAO
The founders of the Ethereum network, Vitalik Buterin and Joseph Lubin, and their respective organizations, Ethereum Foundation and ConsenSys, are donating 1,000 ETH (Ethereum) each to the Moloch DAO (decentralized autonomous organization). With this donation, the total funding that Moloch DAO has collected comes to $1 million.
The Moloch DAO was created by Ameen Soleimani, who is the Chief Executive Officer of the Ethereum-powered adult token platform called Spankchain. The objective of this organization is to crowdsource funds for shared as well as open-sourced infrastructure in the Ethereum network. The organization states that its objective is to speed up the development of Ethereum’s public infrastructure.
Read more about this story here.
Total Market Cap: May 11
The capitalization of the crypto market continues to rise for the third day in a row, and now it is at $203.73 billion.
Bitcoin Price Analysis: May 11
In the last 24 hours, Bitcoin’s price has gone up by 8.99% to its current $6856.19. Capitalization has jumped up to $121.31 billion for the crypto, and volumes of trade are at $21.15 billion.
Ethereum Price Analysis: May 11
Up by 1.95%, the price of Ethereum today is $177.53. Its capitalization is now $18.82 billion. Volumes of trade are at $8.33 billion.
State of the Top 10 Cryptocurrencies: May 11
While the rest of the world’s top ten most valuable cryptocurrencies by capitalization have seen modest gains in the last 24 hours, the price of Bitcoin continues to shoot up. It has gone up by a massive 8.99% in that time. The next biggest gainer is Stellar, which has seen a 4.47% gain in its token price.
- Bitcoin’s trading at $6856.19, gaining 8.99%. The capitalization in the market of this asset is $121.31 billion.
- Ethereum’s trading at $177.53, gaining 1.95%. The capitalization in the market of this asset is $18.82 billion.
- Ripple’s trading at $0.303083, gaining 1.01%. The capitalization in the market of this asset is $12.76 billion.
- Bitcoin Cash’s trading at $298.55, gaining 2.58%. The capitalization in the market of this asset is $5.30 billion.
- Litecoin’s trading at $79.05, gaining 2.95%. The capitalization in the market of this asset is $4.87 billion.
- EOS’s trading at $4.94, gaining 1.07%. The capitalization in the market of this asset is $4.50 billion.
- Tether’s trading at $1.00, losing 0.01%. The capitalization in the market of this asset is $2.77 billion.
- Binance Coin’s trading at $19.28, gaining 1.13%. The capitalization in the market of this asset is $2.72 billion.
- Stellar’s trading at $0.095372, gaining 4.47%. The capitalization in the market of this asset is $1.82 billion.
- Cardano’s trading at $0.065193, gaining 2.16%. The capitalization in the market of this asset is $1.69 billion.