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Major cryptocurrencies are declining after SEC rejects the ProShares Bitcoin ETFs proposal

Aug 23, 2018

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Top 5 Cryptocurrencies sorted by 24 hour Volume

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Name Ticker Price 1H% CHG 24H%CHG 7D%CHG MARKET CAP 24H VOLUME
Bitcoin BTC USD$6453.22 0.3% -3.34% 0.75% USD$111,165,438,888 USD$3,922,512,425
Ethereum ETH USD$272.99 0.55% -4.52% -6.59% USD$27,709,080,398 USD$1,373,400,666
EOS EOS USD$4.76 0.3% -5.84% 0.97% USD$4,315,069,375 USD$460,962,253
Bitcoin Cash BCH USD$520.41 0.24% -5.3% -1.24% USD$9,007,375,278 USD$284,607,615
XRP XRP USD$0.32 0.55% -5.32% 10.48% USD$12,756,407,473 USD$246,008,624

Top 5 Cryptocurrencies sorted by 24 hour Price Percent Change

On Mobile/Tablet scroll to the right

Name Ticker Price 1H% CHG 24H%CHG 7D%CHG MARKET CAP 24H VOLUME
Bitcoin BTC USD$6453.22 0.3% -3.34% 0.75% USD$111,165,438,888 USD$3,922,512,425
Litecoin LTC USD$55.52 -0.25% -4.0% -1.28% USD$3,218,292,652 USD$213,446,079
Dash DASH USD$139.01 0.73% -4.12% -10.14% USD$1,150,112,303 USD$174,173,117
Ethereum ETH USD$272.99 0.55% -4.52% -6.59% USD$27,709,080,398 USD$1,373,400,666
Bitcoin Cash BCH USD$520.41 0.24% -5.3% -1.24% USD$9,007,375,278 USD$284,607,615

Crypto News

  • The SEC has rejected 9 applications for Bitcoin ETFs, including the proposal from ProShares. The agency cited concerns about price manipulation as a reason for the rejection.   
  • Local law enforcement in California has arrested a 19-year old accused of stealing cryptocurrencies from persons by hacking into their cellphone.  The police were able to track down the hacker, Xzavyer Narvaez, because of luxury car purchases he made with the stolen cryptocurrencies. 
  • An article on CoinDesk.com this AM discusses the trend where ICOs promise to destroy redeemed tokens, to help boost the value of new cryptocurrencies.  The thinking is pretty simple: after raising capital using token, entrepreneurs may eventually buy back the tokens from investors in the future.  If the tokens are destroyed after being redeemed, the contraction in supply will boost the value of the existing tokens.  This demand/supply dynamic is exciting potential investors in ICOs. 
  • Dash is seeing wider adoption in emerging markets with its reputation for being regulatory-friendly and privacy features.  In addition to providing startup capital to emerging markets, the Dash project is offering support for entrepreneurs, starting with their first transaction and wallet all the way to launching a dash-oriented business.  
  • The FTC released a report warning about a new cryptocurrency scam targeting men.  The scam allegedly demands payments of Bitcoin in exchange for keeping quiet about extramarital affairs.   
  • The commissioner of the Financial Services Agency (FSA) in Japan, the financial regulator in the country, would like to see the cryptocurrency industry to continue to grow but under “appropriate regulation”.  The FSA needs to find a balance between consumer protection and innovation according Toshihide Endo, the commissioner of the FSA. 
  • Indian police have arrested a man in the city of Chennai who was using Bitcoin to buy LSD off the dark web with the intent to distribute.   
  • Russian internet security company Kapersky Lab believes North Korean hackers have infiltrated a cryptocurrency exchange with malware for both Windows and macOS.  The report by Kapersky Labs does not name the crypto exchange. 
  • Kryptovault, a Norwegian Bitcoin mining firm that previously received bomb threats is now grappling with forced closures by local authorities. Noise pollution complaints now appear to be the greatest threat to the company as local residents are complaining that the noise from the Bitcoin miners is preventing them from sleeping. Local news reports suggest that the complaints are raising questions about whether Kryptovault actually has the right permissions to operate in its current location. 

Source: Stockdio

Sources:

https://www.ccn.com/alleged-sim-swapper-teen-purchased-luxury-cars-with-stolen-bitcoin/ 
https://www.coindesk.com/crypto-startups-are-destroying-millions-of-coins-and-investors-love-it/ 
https://www.coindesk.com/dash-crypto-venezuela-zimbabwe/ 
https://cointelegraph.com/news/us-federal-trade-commission-issues-warning-on-bitcoin-blackmail-scam-targeting-men 
https://cointelegraph.com/news/japans-financial-regulator-wants-crypto-industry-to-grow-under-appropriate-regulation 
https://cointelegraph.com/news/sec-rejects-9-bitcoin-etf-applications-from-proshares-direxion-and-graniteshares 
https://www.ccn.com/india-drug-dealer-busted-for-smuggling-lsd-from-the-dark-web-with-bitcoin/ 
https://cointelegraph.com/news/kaspersky-lab-north-korea-hacks-cryptocurrency-exchange-with-first-macos-malware 
https://bitcoinist.com/u-s-securities-and-exchange-commission-stikes-down-ap