Cryptocurrencies Broadly Lower with Ethereum Classic Positive Ahead of Coinbase Launch
Aug 06, 2018
Top 5 Cryptocurrencies Sorted by 24 hour Volume
Top 5 Cryptocurrencies sorted by 24 hour Price Percent Change
- Börse Stuttgart, the second largest stock exchange in Germany, has announced plans to build an end-to-end system to facilitate cryptocurrency trading. Its proprietary cryptocurrency trading platform, Bison, was developed from one of Börse Stuttgart’s subsidiaries, Sowa Labs. In addition, Börse Stuttgart plans to launch a ICO platform which will facilitate the issues of digital tokens and will make it easier to launch ICOs in a transparent and standardized way.
- Coinbase has received permissions from regulators to resume its services in the state of Wyoming. Its licenses has been suspended since mid-2014 due to a requirement that all exchanges double the reserve for digital assets held by state residents with fiat currency. Governor Matt Mead and the Blockchain Task Force recently signed a new law that removes these restrictions and permits Coinbase to come back to Wyoming.
- Duo Security published a report claiming there were at least 15,000 “scam bots” on Twitter pushing fake cryptocurrency giveaways, etc. The study looks at least 200 tweets per account for 88 million twitter accounts. According to Duo Security, the bots are active in avoiding being shut down -- a very interesting observation.
- Goldman Sachs, according to Bloomberg, plans to launch a custody business for crypto funds while remaining undecided about its own cryptocurrency plans going forward. The bank continues to investigate several different digital assets but hasn’t made a decision on a product offering. Bloomberg speculates that Goldman’s launch of a custody business will lead to other business developments like prime-brokerage services.
- A group of 16 Japanese cryptocurrency exchanges, known as the Japan Virtual Currency Exchange Association (JVCEA) have formally submitted a detailed proposal to form the Financial Services Agency (FSA), a self-regulatory agency that will oversee the cryptocurrency trading market. The purpose of the FSA will be to enforce stricter industry standards on the burgeoning cryptocurrency market.
- A trader on the Chinese cryptocurrency exchange OKcoin is suing the trading platform for allegedly blocking his free allocation of Bitcoin Cash. It appears the issue is related to a technical glitch after OKcoin supported Bitcoin Cash’s hard fork off Bitcoin last August. OKcoin, while agreeing that there was a technical glitch, reportedly claims that the trader failed to report the issue before the deadline to report problems related to Bitcoin Cash’s launch had passed.
- Robinhood announced that its investors can now begin trading Ethereum Classic, a day before Coinbase offers the same option.
- SEC Commissioner Hester Peirce, during an interview on CNBC, suggests the SEC’s role is limited to considering the market for a Bitcoin ETF, not whether there is price manipulation in Bitcoin. Commissioner Peirce argues that like gold and oil, the SEC should focus on whether the market for Bitcoin is working.