According to the Ripple CEO, Brad Garlinghouse, Bitcoin is actually being controlled by a small group of Chinese crypto miners. At the 2018 Stifel Cross Insight Conference held in Boston this week, Garlinghouse stated that there are 4 miners in China that control more than 50% of Bitcoin.
Cryptocurrency Market Updates
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Market Update 6.13.18 – Japanese Police Probing Crypto-jacking Case
Last updated: June 13, 2018, 5:10 am Cryptocurrency Market UpdatesThe Japanese Police is now probing a crypto-jacking case involving the mining software, Coinhive, which is used to mine Monero. According to sources, the suspects set up websites which installed the mining software on visitor’s computers without their knowledge or consent. This is in direct violation of the law that bans the use of computer viruses.
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Market Update 6.12.18 – ETC Surges after Coinbase Listing
Last updated: June 12, 2018, 7:09 am Cryptocurrency Market UpdatesEthereum Classic’s (ETC’s) price surged by 25% after the news was released that it would be added to cryptocurrency exchange Coinbase’s listings. The American cryptocurrency exchange announced through a blog post that it had started the integration work that was required to include Ethereum Classic on its trading platform. The exchange also stated that the launch date for ETC would be announced on September 5, after the integration work was completed.
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Market Update 6.11.18 – Crypto Market Down on CFTC Probe
Last updated: June 11, 2018, 2:35 pm Cryptocurrency Market UpdatesThe cryptocurrency markets across the board saw significant price drops on Sunday on the back of the news that the CFTC (Commodities Futures Trading Commission) has launched a probe into 4 major cryptocurrency exchanges. All the top cryptocurrencies dropped in price, with Bitcoin falling more than 5% – all in the space of 2 hours.
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Market Update 6.10.18 – Huobi Creates Brand New US-Based Platform
Last updated: June 11, 2018, 2:36 pm Cryptocurrency Market UpdatesHoubi is the world’s third-largest crypto exchange in terms of trade volume, and it has recently created a brand new digital currency trading marketplace in the US. The platform reportedly arrives through a newly created company in San Francisco, and it is called HBUS. The latter is nothing close to being a “subsidiary” or “affiliate” of Houbi. It is basically its “exclusive US strategic partner.”
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Market Update 6.09.18 – Connecticut Governor Signs SB443 into Law
Last updated: June 11, 2018, 2:37 pm Cryptocurrency Market UpdatesThe Governor of Connecticut, Dannel Malloy just signed the SB443 bill into law. This new law now establishes a Blockchain working group to assess and study the new technology. Another mandate that this working group has is to create a plan to help with the expansion of the Blockchain industry in Connecticut.
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Market Update 6.08.18 – NYDFS Chief Defends Stance on Cryptos
Last updated: June 8, 2018, 4:07 pm Cryptocurrency Market UpdatesMaria Vullo, the superintendent of the New York Department of Financial Services (NYDFS), defended her agency’s stance of cryptocurrency regulation this week. The chief of the NYDFS was speaking on a panel discussing the topic “Legal Tender? The Regulation of Cryptocurrencies” in New York on Thursday.
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Market Update 6.07.18 – Coinbase to become Regulated Securities Company
Last updated: June 7, 2018, 12:27 pm Cryptocurrency Market UpdatesCoinbase, one of the world’s biggest cryptocurrency exchanges, announced that it was on its way to becoming a federally regulated broker-dealer. The exchange’s Chief Operating Officer Asiff Hirji announced in an official blog post that Coinbase had already initiated the process of getting its broker-dealer license, a registered investment advisor license as well as an alternative trading system license.
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Market Update 6.06.18 – Regulations Necessary for Digital Trade Finance
Last updated: June 6, 2018, 9:57 am Cryptocurrency Market UpdatesAccording to the Global Head of Product and Propositions for Global Trade and Receivables Finance at HSBC, Vinay Mendonca, distributed ledger technology (DLT) is going to change the way global trade works. However, how it changes the world of trade will depend on how regulations are put in place.
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Market Update 6.05.18 – Qulian Technology Completes Series B Funding
Last updated: June 5, 2018, 10:02 am Cryptocurrency Market UpdatesThe China-based Blockchain platform development company, Qulian Technology announced that it was completed its Series B Funding round, collecting 1.5 billion Chinese yuan ($234 million) through it. The size of the funding make this one of the biggest traditional funding rounds in the Blockchain sector so far.