Coinbase announced on Friday that it was considering adding Cardano, Basic Attention, Stellar, Zcash as well as 0x to its cryptocurrency trading platform. Despite the fact that Coinbase made it clear that it cannot guarantee that these crypto assets would be listed for trading, prices of each of the tokens skyrocketed as soon as the news broke.
Cryptocurrency Market Updates
According to local news reports, the Chinese authorities have seized more than $1.5 million worth of cryptocurrencies during a crackdown on gambling on the FIFA World Cup 2018.
Forecast Foundation launched its new protocol, Augur on Tuesday, Jul 10. Augur is a Blockchain betting platform. The first set of bets on the platform were created at 5:00 UTC, and by the end of the day, there are being bets placed on everything from the soccer World Cup to the US elections.
The Philippines CEZA (Cagayan Economic Zone Authority) has given out provisional licenses to 3 different cryptocurrency exchanges to operate in the economic zone. With the issuing of these licenses, the CEZA is looking at pulling in about $3 million in investments. CEZA stated that as part of the licensing agreement, these exchanges are required to contribute at least $1 million over a period of two years as well as pay a licensing fee of $100,000.
Bancor, the decentralized crypto platform that had been the target of a security breach on July 9, stated that it was expecting to resume services within the next 24 hours.6
According to the Bank of Korea (BOK), South Korea’s central bank, cryptocurrency markets do not pose a threat to traditional markets. The bank made this statement based on the data received from domestic banks in the country. According to the data, the outstanding balance of cryptocurrencies in banking accounts amounted to 2 trillion won (~$1.79 billion).
There has been a little action on the crypto markets lately, with most digital currencies either up or down by small percentages over the past 24 hours. In fact, it is a little under $1 billion in terms of market capitalization. For starters, Bitcoin is hovering at about $6.635 as of press time. Although it seems to experience an up and down scale, the leading digital asset still managed to keep up with this week’s gains.
In an interview with Bloomberg, the Chief Executive Officer of the world’s largest cryptocurrency exchange (by trading volume), Changpeng Zhao stated that he expects Binance’s profits to be as high as $1 billion for this year. Zhao also said that the crypto exchange has already generated about $300 million in revenues for the first half of 2018.
The Romanian Ministry of Finance released a draft Emergency Ordinance regulating the issuance of e-money (electronic money). This draft describes e-money as monetary value that is stored electronically and which represents a claim on the issuer on the receipt of funds for the purpose of conducting transactions and which is received by a person other than the issuer of the funds.
Binance announced that it has resumed its services after it had suspended them on July 3 after an alert was given to the exchange about irregular Syscoin (SYS) trading by multiple API users. Rather than take a chance, the cryptocurrency exchange suspended all trading, deposits and withdrawals. The exchange also took extra security measures to ensure that their customers’ funds were all safe.