Market Update 2.19.19 – Possible Crypto-Mining Scam Uncovered in Thailand

| Publish date: 02/19/2019
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Possible Crypto-Mining Scam Uncovered in Thailand

According to local news reports, 30 people in Thailand have filed a complaint with the country’s Technology Crime Suppression Division against an investment firm called CryptoMining.Farm. In the complaint, the people alleged that the firm was running a crypto mining scam which led to losses worth 42 million baht (~$1.34 million). Local law enforcement authorities believe that about 140 individuals have been affected by this suspected scam.

CryptoMining.Farm reportedly promised its investors that it would deliver an annual return of 70%. It also promised investors that they could withdraw their funds at any time without any conditions.

Read more about the story here.

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Beam Gets Funding from Recruit Co. Ltd.

Beam, the privacy-focused crypto startup, has secured funding from Recruit Co. Ltd., the Japanese equivalent of LinkedIn. Both companies confirmed the news, though the amount of funding was not revealed.

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Recruit stated that this investment had been made via its RSP Blockchain Tech Fund, which was established in November 2018. Beam, on its part, stated that with this investment, it would be able to complete its mission in Japan of deploying a scalable and privacy oriented crypto that was completely compliant with regulations.

Read more about this story here.

Blockstream Releases MuSig

The Blockchain technology firm Blockstream has released MuSig, the Schnorr-based multi-signature test cost for a potential Bitcoin Blockchain upgrade.

In January last year, four developers for Bitcoin had published a paper detailing how the MuSig could help with scaling the crypto’s Blockchain. According to them, the technology could cut down on transaction sizes and improve user privacy as well as performance on BTC’s Blockchain. They described this code as a protocol that would allow groups of signers to create short, joint signatures on a common message. This announcement by Blockstream shows that MuSig has been converted from just an idea into a usable code.

Find out more about this story here.

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Total Market Cap: Feb 19

The capitalization of the cryptocurrency market has jumped up by $7.58 billion to $133.75 billion. Trade volumes have also shot up by $8.07 billion to its current $34.55 billion.

Bitcoin Price Analysis: Feb 19

Going up by 5.17% in the last one day, the price of Bitcoin is now $3938.36 per token. The virtual currency’s value in the market is now $69.10 billion. Trade volumes have increase substantially too to $10.12 billion since yesterday.

Ethereum Price Analysis: Feb 19

Ethereum’s upward trajectory continues for the second day in a row, with the altcoin gaining another 7.88% since yesterday to trade at a price of $148.61. Market cap for Ether is now $15.59 billion and trade volumes are up to $5.36 billion.

State of the Top 10 Cryptocurrencies: Feb 19

In the last 24 hours, trading in the cryptocurrency market has surged, and all the top cryptocurrencies are currently in the green. EOS surprised the market with a massive 23.99% increase in its token price since yesterday. Bitcoin Cash has followed with a 15.14% jump in its token price and Litecoin has seen the third biggest jump with an 8.52% hike in its prices.

  • Bitcoin’s token price is $3938.36, jumping 5.17%. The digital asset’s market cap is now $69.10 billion.
  • Ethereum’s token price is $148.61, jumping 7.88%. The digital asset’s market cap is now $15.59 billion.
  • Ripple’s token price is $0.328391, jumping 5.94%. The digital asset’s market cap is now $13.53 billion.
  • EOS’s token price is $3.64, skyrocketing 23.99%. The digital asset’s market cap is now $3.30 billion.
  • Litecoin’s token price is $48.25, jumping 8.52%. The digital asset’s market cap is now $2.92 billion.
  • Bitcoin Cash’s token price is $150.34, jumping 15.14%. The digital asset’s market cap is now $2.65 billion.
  • Tether’s token price is $1.01, gaining 0.39%. The digital asset’s market cap is now $2.03 billion.
  • TRON’s token price is $0.025175, jumping 4.44%. The digital asset’s market cap is now $1.67 billion.
  • Stellar’s token price is $0.085865, jumping 6.46%. The digital asset’s market cap is now $1.64 billion.
  • Binance Coin’s token price is $9.65, gaining 2.86%. The digital asset’s market cap is now $1.36 billion.
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