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Cryptocurrency End of Day Recap

Jul 10, 2018

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  • Ledger, the cold wallet storage company, has created its own app to allow users to manage their crypto assets on their computer. Before, users would have to download Google chrome plug-ins for each respective cryptocurrency. Now, the app allows users to have their cryptos consolidated. The application will be integrated with Windows, macOS, and Linux. Additionally, users can check their crypto balance from the Ledger app without having to plug in the Ledger device.
  • The People’s Bank of China spoke on ICOs yesterday and said that it would “crush” ICO operations that attempt to serve the Chinese. Vice Governor, Pan Gongsheng reiterated that there is an outstanding ban on ICOs and that there is a need to uphold regulatory mandates. This year, the Chinese government has sought to deliver an opinion on the blockchain space without reversing any of its restrictive measures on cryptocurrencies. Nonetheless, while cryptocurrency trading is ostracized by Beijing, the country’s mining sector contributes to function despite pressure to downsize
  • Trading has officially opened on HBUS which is a strategic partnership with which Huobi is involved with. The platform currently supports 22 cryptocurrencies and provides traders with market data. HBUS had been accepting deposits in cryptocurrency leading up to the launch. The platform is not yet available in 9 states in the US, notably New York.
  • South Korea’s government has been criticized for not doing enough to prevent hacking on the country’s cryptocurrency exchanges. Three separate hacks totaling up to USD$1bn occurred after the government performed inspections. After the inspections, regulators advised exchanges to improve their information security systems. Additionally, the Upbit exchange has denied rumors that it was also hacked.