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Cryptocurrencies see wave of red as Coinbase defends controversial acquisition

Mar 04, 2019

 

 
High Machine Learning Accuracy Rates for CryptocurrenciesHigh Machine Learning Accuracy Rates for Cryptocurrencies
High Machine Learning Accuracy Rates for CryptocurrenciesHigh Machine Learning Accuracy Rates for Cryptocurrencies

Top 5 Cryptocurrencies sorted by 24 hour Volume

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Name Ticker Price 1H %Chg 24H %Chg 7D %Chg Market Cap Volume
Bitcoin BTC USD$3756.79 -0.16% -2.77% -2.49% USD$66,008,149,343 USD$8,453,461,350
Ethereum ETH USD$127.07 -0.09% -5.58% -9.02% USD$13,357,405,240 USD$3,983,893,679
EOS EOS USD$3.24 -0.23% -8.95% -9.48% USD$2,938,974,929 USD$1,470,567,337
Litecoin LTC USD$46.23 -0.1% -5.25% 1.5% USD$2,807,510,570 USD$1,233,948,086
XRP XRP USD$0.3 -0.34% -3.3% -1.79% USD$12,592,155,675 USD$658,498,502

Top 5 Cryptocurrencies sorted by 24 hour Price Percent Change

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Name Ticker Price 1H %Chg 24H %Chg 7D %Chg Market Cap Volume
Stellar XLM USD$0.08 -0.71% -1.88% -3.96% USD$1,579,408,297 USD$146,154,461
Bitcoin BTC USD$3756.79 -0.16% -2.77% -2.49% USD$66,008,149,343 USD$8,453,461,350
XRP XRP USD$0.3 -0.34% -3.3% -1.79% USD$12,592,155,675 USD$658,498,502
Dash DASH USD$79.93 -0.21% -4.32% -3.89% USD$692,959,170 USD$243,085,338
Monero XMR USD$47.8 -0.21% -4.35% -3.6% USD$804,543,664 USD$65,914,253

 

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Crypto Market Recap

  • Cryptocurrencies are slipping notably lower in trading this morning with the price of Bitcoin (BTC) down 2.70% in the last 24 hours to USD$3,759.36. EOS (EOS) is observing the largest losses this morning, falling 9.31% in the last 24 hours to USD$3.23. TRON (TRX) and IOTA (MIOTA) are also trading notably lower, down 7.25% and 7.05% in the last 24 hours to USD$0.021372 and USD$0.271775. Stellar (XLM) is down by the least among major cryptocurrencies, trading lower by just 1.95% over the last 24 hours to USD$0.082154.

Crypto Developments in Financial Services

  • Coinbase’s Director of Institutional Sales, Christine Sandler, defended the notable US exchange’s controversial acquisition of blockchain intelligence firm Neutrino while interviewing with financial news outlet Cheddar last week. First announced on February 19th, the acquisition of Neutrino by Coinbase prompted criticisms after reports surfaced that the co-founders of Neutrino had prior involvement with commercial software firm Hacking Team, whose spyware has reportedly been used by a suite of international governments, including authoritarian regimes. In the interview with Cheddar, Sandler discussed that previous client data providers for Coinbase were selling user data to outside sources, prompting the acquisition.   
  • According to a new report published by Bloomberg, cryptocurrency companies across are still facing difficulties in opening bank accounts. The Bloomberg report cites Sam Bankman-Fried, the CEO of quantitative crypto trading firm Alameda Research, who said, “the standard answer of ‘just go to your local Chase branch’ doesn’t work in crypto,” adding that, “it’s a massive compliance headache that they don’t want to put the resources in to solve.” The Bloomberg report notes that, while large US banks are treading lightly in regards to serving the crypto industry, smaller banks are trying to capitalize on the underserved market.

Crypto Regulatory Environment

  • Utah’s State Senate is set to field a bill that outlines the special treatment of blockchain companies in the state. Introduced by Republican State Senator Daniel Hemmert, Bill 0213, which is also known as the, “Blockchain Technology Act,” would seek to exclude blockchain technology businesses from money transmitter compliance obligations. If passed, Utah would become the latest US state behind Utah to adopt regulation for special treatment of blockchain companies in their state.

General Crypto News

  • QuadrigaCX, the defunct crypto exchange whose founders’ passing left over USD$100mm worth of digital assets inaccessible, most likely store a significant amount of Ethereum (ETH) with other cryptocurrency exchanges, according to new research. Crypto research and consulting platform ZeroNonCense published a report last week, containing corroborating information from Kraken CEO Jesse Powell and MyCrypto CEO Taylor Monahan that finds, “there is a very strong probability,” that almost 650,000 ETH owned by QuadrigaCX was stored between crypto exchanges Kraken, Bitfinex, and Poloniex.  
  • Experts from US technology consulting firm Booz Allen Hamilton believe that renewable energy markets across the Gulf Cooperation Council could benefit from increased security capabilities and cost efficiencies through the use of blockchain technology. According to a report published by news outlet AI Bawaba, Booz Allen Hamilton Vice President Dr Adham Sleiman argued that the transactional nature of the renewable energy sector leaves it poised to benefit from a decentralized blockchain system, where a centralized one currently dominates.

 

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*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio

Sources:

https://coin360.io/  
https://coinmarketcap.com/  
https://cointelegraph.com/news/quadrigacx-reportedly-stored-eth-on-kraken-bitfinex-and-poloniex-research-finds 
https://blog.zerononcense.com/2019/02/28/quadrigacx-ethereum-storage-found/ 
https://cointelegraph.com/news/coinbase-former-provider-sold-user-data-to-third-parties-prompting-neutrino-acquisition 
https://cheddar.com/media/coinbase-adds-support-for-ripple-s-xrp-despite-regulatory-uncertainty 
https://www.coindesk.com/what-coinbase-needs-to-learn-from-the-neutrino-scandal 
https://cointelegraph.com/news/utah-senate-to-debate-blockchain-task-force-creation-and-business-incentives 
https://legiscan.com/UT/bill/SB0213/2019 
https://cointelegraph.com/news/bloomberg-crypto-companies-still-run-into-trouble-opening-bank-accounts 
https://www.bloomberg.com/tosv2.html?vid=&uuid=15869160-3de0-11e9-8d8d-05201c021706&url=L25ld3MvYXJ0aWNsZXMvMjAxOS0wMy0wMy93aHktY3J5cHRvLWNvbXBhbmllcy1zdGlsbC1jYW4tdC1vcGVuLWNoZWNraW5nLWFjY291bnRzP3NybmQ9Y3J5cHRvY3VycmVuY2llcw== 
https://cointelegraph.com/news/gulf-regions-burgeoning-renewable-energy-sector-should-leverage-blockchain-experts-argue 
https://www.albawaba.com/business/why-blockchain-essential-energy-players-1260426 
https://www.coindesk.com/utah-bill-would-exempt-blockchain-firms-from-money-transmitter-act https://coin360.io/  
https://coinmarketcap.com/  
https://cointelegraph.com/news/quadrigacx-reportedly-stored-eth-on-kraken-bitfinex-and-poloniex-research-finds 
https://blog.zerononcense.com/2019/02/28/quadrigacx-ethereum-storage-found/ 
https://cointelegraph.com/news/coinbase-former-provider-sold-user-data-to-third-parties-prompting-neutrino-acquisition 
https://cheddar.com/media/coinbase-adds-support-for-ripple-s-xrp-despite-regulatory-uncertainty 
https://www.coindesk.com/what-coinbase-needs-to-learn-from-the-neutrino-scandal 
https://cointelegraph.com/news/utah-senate-to-debate-blockchain-task-force-creation-and-business-incentives 
https://legiscan.com/UT/bill/SB0213/2019 
https://cointelegraph.com/news/bloomberg-crypto-companies-still-run-into-trouble-opening-bank-accounts 
https://www.bloomberg.com/tosv2.html?vid=&uuid=15869160-3de0-11e9-8d8d-05201c021706&url=L25ld3MvYXJ0aWNsZXMvMjAxOS0wMy0wMy93aHktY3J5cHRvLWNvbXBhbmllcy1zdGlsbC1jYW4tdC1vcGVuLWNoZWNraW5nLWFjY291bnRzP3NybmQ9Y3J5cHRvY3VycmVuY2llcw== 
https://cointelegraph.com/news/gulf-regions-burgeoning-renewable-energy-sector-should-leverage-blockchain-experts-argue 
https://www.albawaba.com/business/why-blockchain-essential-energy-players-1260426 
https://www.coindesk.com/utah-bill-would-exempt-blockchain-firms-from-money-transmitter-act 

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