Market Update 2.28.19 – GIC Was One of the Investors in Coinbase

| Publish date: 02/28/2019
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GIC Was One of the Investors in Coinbase

According to mainstream media reports, Singaporean GIC (Government Investment Corporation) was one of the investors that helped raise $300 million for the US cryptocurrency exchange and wallet service provider Coinbase last year. GIC, a Singapore government agency founded to manage the country’s foreign reserves, has reserves of more than $100 billion in assets in over 40 countries across the world.

Last year, Coinbase had announced that it had raised $300 million in a financing round that raised the exchange’s equity to $8 billion. However, while Coinbase revealed some of the names of the companies that had invested in it, GIC’s name was not mentioned.

Read more about this story here.

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Coin Metrics Closes $1.0 Million Funding Round

Coin Metrics, a Blockchain based analytics firm, announced that it had just closed a $1.9 million funding round in which Fidelity Investments, Dragonfly Capital and Highland Capital Partners participated. The company, in this announcement, also revealed its first range of products for commercial use targeted at institutions that were looking for customized research reports.

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The co-founder and chairman of the board of Coin Metrics, Nic Carter stated that institutional investors were not satisfied with the price aggregation services that were currently available because they did not differentiate the integrity of various data sets.

Read more about this story here.

Cases of Money Laundering in Cryptos Up 10x in 2018

According to local news agencies, the Japanese police registered over 7,000 suspected cases of cryptocurrency-related money laundering in 2018. In 2017, the country’s police had registered 669 such cases over a period of nine months, making it a ten-fold increase in just one year. This massive increase in suspected money laundering cases was due to a new rule passed by Japanese law enforcement that made it compulsory for cryptocurrency exchanges to report all transactions that were suspected to be linked to such activities.

Local media stated that these 7,000 plus cases all raised red flags, like being connected to accounts that had different birth dates as well as different names, but had the same photos.

Read more about the story here.

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Total Market Cap: Feb 28

The cryptocurrency market remained stable for the last 24 hours, with its capitalization more or less flat at $130.62 billion. Trade volumes are at $27.87 billion at the moment.

Bitcoin Price Analysis: Feb 28

Bitcoin has gained 0.28% since yesterday to the price it is trading at now – $3879.78. Capitalization is now at $68.13 billion and the crypto is seeing trade volumes of $8.34 billion.

Ethereum Price Analysis: Feb 28

Ether continues to slide for the third day. Down by 1.07%, the altcoin’s price is now $138.21, and its capitalization is $14.51 billion. The crypto is seeing trading volumes of $4.58 billion.

State of the Top 10 Cryptocurrencies: Feb 28

The trend of some of the top ten cryptos being up and other being down continues. Ripple has shown the greatest losses in trading so far today, and is down by 1.59%. Stellar and Tron are next with both losing 1.08% in their token prices. Binance Coin is the biggest gainer with a 2.20% increase in its token price.

  • Bitcoin’s price now is $3879.78, going up 0.28%. $68.13 billion is the crypto’s current capitalization.
  • Ethereum’s price now is $138.21, down by 1.07%. $14.51 billion is the crypto’s current capitalization.
  • Ripple’s price now is $0.314436, down by 1.59%. $13 billion is the crypto’s current capitalization.
  • EOS’s price now is $3.59, going up 1.90%. $3.25 billion is the crypto’s current capitalization.
  • Litecoin’s price now is $46.29, going up 1.04%. $2.80 billion is the crypto’s current capitalization.
  • Bitcoin Cash’s price now is $133.73, down by 0.69%. $2.35 billion is the crypto’s current capitalization.
  • Tether’s price now is $1.01, down by 0.11%. $2.04 billion is the crypto’s current capitalization.
  • Stellar’s price now is $0.085347, down by 1.08%. $1.63 billion is the crypto’s current capitalization.
  • TRON’s price now is $0.024048, down by 1.08%. $1.60 billion is the crypto’s current capitalization.
  • Binance Coin’s price now is $9.99, going up 2.20%. $1.40 billion is the crypto’s current capitalization.
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