Market Update 3.01.19 – Kraken Offering $100,000 Reward
Market News
Kraken Offering $100,000 Reward
The US-based cryptocurrency exchange Kraken is offering a $100,000 reward for anyone who can find Canadian crypto exchange QuadrigaCX’s missing funds. This announcement was made by the American exchange on its blog on February 28.
After the sudden and untimely death of the founder and CEO of QuadrigaCX Gerald Cotten in December of last year, the Canadian exchange has been faced with major financial issues. The exchange owes its customers C$260 million, but only has C$375,000 in cash reserves. This is because Cotten had kept the remaining funds in cold storage wallets that only he could access. While the exchange has already filed for creditor protection while it tries to solve its dilemma, Kraken is now offering a reward in fiat or cryptos to find the missing funds.
Read the story here.
Signature Bank Offering Services to Crypto Startups
New York-based Signature Bank is now soon going to offer its full range of banking services to fintech firms, including cryptocurrency startups, in Bermuda. The government of Bermuda made the announcement via a press release on Thursday night. Now licensed financial technology firms, which includes 66 crypto startups incorporated in the island nation, will finally be able to get banking services.
These companies have been struggling to get banking services in the country because banks have traditionally been wary about providing services to companies that deal with digital assets.
Read the story here.
Bill Introduced Allowing Cannabis Companies to Pay Taxes in Stablecoins
The US state of California’s lawmakers have now introduced a bill that, if passed, will allow companies dealing in Cannabis products to pay their taxes and fees in stablecoins from January 1, 2020 onwards.
While cannabis has been legalized in multiple states in America, cannabis businesses have been struggling to get access to services from traditional banks. This is because most of the banks in the country are secured by the FDIC (Federal Deposit Insurance Corporation), which means that they are forbidden from providing their services to an industry that is still considered illegal under US Federal laws.
Read the story here.
Total Market Cap: Mar 01
While the cryptocurrency market’s capitalization has gone up marginally in the last one day to $131.19 billion, the trading volumes have dropped to $26.56 billion.
Bitcoin Price Analysis: Mar 01
Bitcoin continues to inch up, with a 0.18% gain in the last one day, now trading at $3877.60 per token. Its capitalization is $68.10 billion and has trading volumes of $8.24 billion at this time.
Ethereum Price Analysis: Mar 01
Ether continues to slide, going down by 0.27% in the last one day, to its current price of $137.58. Capitalization is at $14.45 billion and trading volumes are $4.23 billion.
State of the Top 10 Cryptocurrencies: Mar 01
The biggest gains in the world’s ten most valuable cryptocurrencies are being seen in Binance Coin, which is up by 9.28% in the last one day. The second-highest gains are for Litecoin, whose token price has increased by 3.32%. And Ripple has seen increases of 2.21% in the same time period.
- Bitcoin’s price at this time is $3877.60, increasing 0.18%. $68.10 billion is currently its market value.
- Ethereum’s price at this time is $137.58, decreasing 0.27%. $14.45 billion is currently its market value.
- Ripple’s price at this time is $0.321126, increasing 2.21%. $13.28 billion is currently its market value.
- EOS’s price at this time is $3.59, increasing 0.05%. $3.25 billion is currently its market value.
- Litecoin’s price at this time is $47.68, increasing 3.32%. $2.89 billion is currently its market value.
- Bitcoin Cash’s price at this time is $133.28, decreasing 0.17%. $2.35 billion is currently its market value.
- Tether’s price at this time is $1.01, decreasing 0.17%. $2.03 billion is currently its market value.
- Stellar’s price at this time is $0.085304, increasing 0.14%. $1.63 billion is currently its market value.
- TRON’s price at this time is $0.023854, decreasing 0.78%. $1.59 billion is currently its market value.
- Binance Coin’s price at this time is $11.02, increasing 9.28%. $1.55 billion is currently its market value.