Bitcoin remained below $9,000 at the start of the week as sentiment remained lackluster amid concerns over Japanese regulatory action against crypto exchange Binance, which has also announced plans to shift operations to Malta. A survey found that bigger cryptocurrencies like Bitcoin, Ethereum and Litecoin are favored by millennials for investment. However, yet another instant messaging app decided to ban cryptocurrency related advertising on its platform.
Here is a wrap up of the main news from the cryptocurrency and blockchain world over the last 24 hours.
Binance Eyeing Malta After Japan Turns Hostile
Binance, the world’s largest cryptocurrency exchange by 24-hour trading volume, announced plans to open business in Malta as it fell out of favor with the Japanese financial regulator for failing to get a license to operate in the country. “After reviewing several different locations, the company decided to invest in the European nation due to its existing pro-blockchain legislation and the stability that it offers financial technology companies through its regulatory framework,” the Hong Kong-based company said in a post on the online publishing platform Medium. Read more…
Millennials Favor Bitcoin, Ethereum, Litecoin For Crypto Investments
For millennials, digital currencies Bitcoin, Ethereum, and Litecoin are the favored investments in cryptocurrencies, Forbes reported, citing a recent study. Among this group, aged 18-34, there were no takers for Ripple, the third largest cryptocurrency as per market capitalization. According to LendEDU’s recent survey of 1000 Americans, cryptocurrencies were a popular choice among millennials to invest $10,000. Read more…
Coinbase Reportedly In Talks To Buy Startup Earn.com
Cyrptocurrency exchange Coinbase is in talks to buy Bitcoin social network startup Earn.com, reports said. Under the proposed deal terms, Earn.com CEO Balaji Srinivasan is likely to join Coinbase. The purchase price is $30 million, according to blockchain-focused media outlet Coindesk. Another report said the total value of cash, cryptocurrency, stock and earn-out in the deal would exceed $120 million. Since its founding in 2013, Earn reportedly has raised around $120 million over multiple funding rounds. Read more…
Snapchat Messaging App Bans ICO Ads
Snap Inc. has banned advertising of Initial Coin Offerings (ICOs) On its Popular messaging app “the Snapchat app.” This was reported by Cheddar on Monday, quoting a company spokesperson. Snapchat follows Google and Facebook, which discouraged crypto ads earlier this year. Read more…
TMX Unit To Launch Cryptocurrency Brokerage Service
Canada’s TSX operator TMX Group said it is launching a new cryptocurrency brokerage service through its wholly-owned subsidiary Shorcan Digital Currency Network, which has inked a deal with decentralized financial services provider Paycase Financial to this effect. Paycase CEO Joseph Weinberg said, “Paycase’s partnership with the TMX solved a major problem in the blockchain ecosystem. With this partnership, we have built the first major bridge between the crypto world and the traditional financial markets.” Read more…
Public Ledger Is Bitcoin’s Biggest Flaw: Snowden
American whistle-blower Edward Snowden believes Bitcoin’s main drawback is not its ability to scale as many critics allege, but its lack of privacy. “Everybody is focused on the transaction rate limitations of bitcoin being its central flaw, and that is a major one, but I would argue that the much larger structural flaw, the long-lasting flaw, is its public ledger,” according to Snowden. Read more…
Swiss Startup To Launch Real Estate-backed SwissRealCoin
Crypto Real Estate AG, a Swiss startup company, is launching a crypto token called SwissRealCoin (SRC), to be backed by the Swiss commercial real estate. The company is building a platform that is set to bring real estate assets onto the blockchain and provide investors with easy access to the Swiss real estate market. Read more….
Survey Shows U.S. University Students Buy Crypto Using Study Loan
A new survey has found that university students in the United States are using money from their student loans to buy crypto currencies such as Bitcoin. An online survey was conducted by Pollfish for The Student Loan Report, a website that reports on students’ debt issues, among 1,000 students. They were asked if they had ever used student loan money to invest in cryptocurrencies like Bitcoin. One-fifth of those polled said “Yes.” Read more…
Current Prices
As of 8.59 am ET, Bitcoin was down 4.49 percent at $8,120.01 and Ethereum was lower by 5.82 percent at $490.29 on Coinbase.
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