Cryptocurrency News

Fresno’s division of the US District Court for California’s Eastern District closed a civil forfeiture case last week that had been ongoing for the last 14 months. This was initiated to seize the assets of Alexandre Cazes, suspected of operating AlphaBay, a darknet marketplace.

According to a tweet by the Binance co-founder and Chief Executive Officer Changpeng Zhao, the world’s largest cryptocurrency exchange is going to launch the private beta testing of its new Singapore-based crypto-fiat exchange on September 18. Zhao, or CZ, first revealed these plans at a recent Blockchain event in Singapore which was organized by the crypto-asset specializing firm, Cumberland.

A new poll suggests that one in four millennials are interested in investing in digital assets over the next year. The survey is courtesy of the crypto payments startup Circle. The firm reportedly involved more than 3,000 respondents earlier this week.

According to the Chairman of the US Commodity Futures Trading Commission Christopher Giancarlo, regulators need to adopt a Do Not Harm approach if the cryptocurrency industry is to flourish. Chairman Giancarlo made this comment during an interview at the Singapore Summit on Friday, September 14.

The recent plunge in the cryptocurrency market has been now marked to be worse than the Dot.Com disaster of the early 2000s. However, unlike the Dot.Com bust, cryptocurrencies have been known to plunge to almost zero and then make huge rebounds.

Experts believe that the two new US Dollar backed stablecoins launched on September 10 are going to have a big impact on the cryptocurrency market. The stablecoin launched by Gemini is called the Gemini Dollar (GUSD), while the one launched by Paxos is called Paxos Standard (PAX).

The founder of the world’s second biggest cryptocurrency exchange OKEx and exchange services provider OKCoin, Star Xu has been detained in China for suspected fraud. According to the local media, Xu was held at the Weifang Xincun police station in Shanghai.

Gemini Trust Company, the cryptocurrency exchange owned by Tyler and Cameron Winklevoss, launched the Gemini dollar on Monday, September 10. The Gemini dollar is a stablecoin that completely regulated and will let users send as well as receive US Dollars on the Ethereum network using the ERC20 tokens.

Gemini, a crypto exchange, is poised to launch a dollar-pegged stablecoin. Apparently, the announcement, which was made on Monday, suggests that it will be made on Ethereum.

According to Ethereum co-founder Vitalik Buterin, cryptocurrencies will never again see the 1000-times growth that they saw last year.