The rally in cryptocurrencies stalls with Bitcoin nearing USD$7,000 psychological technical level, Crypto ATM Industry to grow 54.7% annually through CY2023
Sep 05, 2018
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- The ASX has asked Byte Power Group, an IT company listed on the ASX, for more information about its upcoming ICO. Byte Power is looking to become the first publicly traded Aussie company to raise funds through an ICO.
- Bill Barhydt, CEIO of cryptocurrency payment startup Abra, during an interview on CNBC’s Coin Rush, suggests the SEC is rejecting Bitcoin ETFs because the applicants don’t “fit the mold of who the SEC is used to approving.” Barhydty suggests a trusted financial organization has better probability of getting a Bitcoin ETF approved than a startup.
- Bitcoin Depot has launched 20 crypto ATMS in California to bring its total global installed base to 160. The company expects to reach 200 installed ATMs globally by year-end. With an install rate of 7 ATM/months, Bitcoin Depot may not reach its management goal of 1,000 installed Bitcoin ATMs by CY2020.
- Blockchain identity startup Civic has decided to use 333 million of its 1 billion supply of CVC token (~USD$43mm) to pay for the costs of identity checks of users on its platform as well as stress-testing the protocol.
- ResearchandMarkets.com forecasts that the crypto ATM industry will grow to USD$114.5mm by CY2023 and implies a per annum growth rate of ~54.7%. The company suggests the majority of the growth will come from two-way ATMs which let customer change digital currency into fiat and vice-versa. Furthermore, the reported by ResearchandMarkets.com posits that that the majority of the crypto ATMs will be based in North America. At the moment, crypto ATM industry is forecasted to be ~USD$16.3mm.
- Cryptocurrency mining companies are moving into mining and mill ghost towns to install new crypto mining rigs. The burgeoning cryptocurrency mining industry is putting new life into towns whose economic fortunes had turned negative over the past 2 decades.
- The Iranian government has accepted the mining of cryptocurrencies as a formal industry. The Supreme Cyberspace Council is now focusing on developing a framework for regulation of the crypto mining industry.
- The Finnish investor who lost 5,564 BTC in a scam with Thai national has withdrawn his formal complaints against two suspects. The monetary settlement has not been disclosed.
- The Mega Chrome extension for the Chrome internet browser has been compromised. Hackers can now steal a user’s Monero as well as sensitive information according to chatrooms on Reddit and posts on Twitter.
- R3 has been blocked from acquiring the Utility Settlement Coin (USC) project. R3 was hoping to combine USC’s technology with the work it has already done on its Corda platformm.
- Robinhood is adding candlestick charts to its cryptocurrency charts. This new addition to Robinhood’s charts comes after requests from traders on its platform.
- ShapeShift, the crypto trading exchange, is changing its membership policy and will begin to collect personal information of its members. This is contrast to its earlier mission statement which claims it was an “exchange without accounts”. Management argues this change in policy is necessary to deliver new products that its members desire like security tokens, etc.
- Stellar reports that is has reached 1mm accounts on its network.
*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio