Market Update 8.02.18 – Long Blockchain Corp. Subpoenaed by SEC

| Publish date: 08/02/2018
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Long Blockchain Corp. Subpoenaed by SEC

Long Blockchain Corp., previously a drinks manufacturer which now is a blockchain development company, has been subpoenaed by the US SEC (Securities and Exchange Commission). The subpoena was originally dated for July 10, and the company, during a filing on August 1, stated that the SEC had requested that Long Blockchain provide certain documents to them. The company refused to provide any further details.

All that Long Blockchain stated was that it was cooperating fully with the SEC investigation. The company also stated that it could not say whether there would be any proceedings instituted in connection with the subpoena.

Read the rest of the story here.

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GBP Added to Coinbase for UK Customers

The cryptocurrency exchange Coinbase announced that it is now also offering deposits and withdrawals in the British Pound (GBP) to cater to its UK customers. Now, the exchange’s UK business will offer same-day withdrawals as well as deposits which will allow transfers to take place immediately.

The Chief Executive Officer of Coinbase, Zeeshan Feroz, wrote in a statement that this new system would replace the previous one where customers had to convert cryptos into Euros and then convert the money in to pounds.

Find out more details here.

Telegram’s New Passport Vulnerable to Attack

According to a report released on August 1 by cryptographic services and software developer Virgil Security Inc., the new personal ID authorization tool released by messaging service Telegram (called Telegram Passport) is vulnerable to attacks made with brute force.

Telegram launched its Passport tool on July 26, which is designed to encrypt personal identification information, and allow users to then send that data to third parties that follow Know-Your-Customer (KYC) laws. Telegram stated that not only was the date encrypted but also password protected to ensure total security for their users.

However, according to Virgil Security, the hashing algorithm – SHA-512 – used by Telegram is not meant to be used to hash passwords. This algorithm can leave passwords vulnerable to brute force attacks.

Read more here.

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Total Market Cap: August 02

The cryptocurrency market’s volume of trading went down to $13.53 billion. Additionally, the crypto market’s valuation went up to $273.22 billion.

Bitcoin Price Analysis: August 02

While BTC gained 1.32% to trade at $7660.11 per token. Trading volumes were lower than yesterday at $4.5 billion but BTC’s market cap inched up to $131.71 billion.

Ethereum Price Analysis: August 02

Ethereum’s price barely moved by 0.014% to trade at $421.62. Trading volume dropped to $1.77 billion and market capitalization for the crypto was at $42.53 billion.

State of the Top 10 Cryptocurrencies: August 02

The top cryptocurrencies in the market saw some gains and some losses since yesterday. Stellar gained by 1.98%, leading the top ten list, with Ripple following with a gain of 1.59% and Bitcoin with a price gain of 1.32%. EOS, Litecoin, Cardano and IOTA all saw less than 1% decreases in their token prices.

  • Bitcoin increased by 1.32% to trade at $7660.11. The digital asset’s market valuation is $131.71 billion.
  • Ethereum increased by 0.014% to trade at $421.62. The digital asset’s market valuation is $42.53 billion.
  • Ripple increased by 1.59% to trade at $0.441709. The digital asset’s market valuation is $17.36 billion.
  • Bitcoin Cash increased by 0.89% to trade at $761.67. The digital asset’s market valuation is $13.15 billion.
  • EOS decreased by 0.96% to trade at $7.19. The digital asset’s market valuation is $6.51 billion.
  • Stellar increased by 1.98% to trade at $0.274383. The digital asset’s market valuation is $5.15 billion.
  • Litecoin decreased by 0.12% to trade at $77.74. The digital asset’s market valuation is $4.48 billion.
  • Cardano decreased by 0.42% to trade at $0.139332. The digital asset’s market valuation is $3.61 billion.
  • IOTA decreased by 0.38% to trade at $0.9189. The digital asset’s market valuation is $2.55 billion.
  • Tether increased by 0.12% to trade at $1. The digital asset’s market valuation is $2.39 billion.
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