Cryptocurrencies are trending lower at the start of the week and market volume shrunk. The weakness prevails ahead of a Securities and Exchange Commission hearing in the US on Ethereum, the second largest cryptocurrency by market capitalization. Market is expected to recover if the watchdog rules Ethereum is not a security.
Here is wrap of the main new from the cryptocurrency and blockchain space over the past few hours.
Bitcoin Payment May Be Back Soon At Reddit; Litecoin & Ether Being Considered
Reddit, the American social news aggregation and content discussion website, hopes to reinstate Bitcoin as a payment option soon for its premium service, and also consider having altcoins such as Ether and Litecoin as alternatives. In an interview to the tech business news channel Cheddar, Reddit Chief Technology Officer Chris Slowe said, “We decided to stop those for commercial reasons. Read more…
Lawsuit Against Bitcoin.com Scrapped For Lack Of Funds
A planned lawsuit by pro-Bitcoin community against Bitcoin.com, which supports Bitcoin Cash, has been abandoned, citing shortage of funds to proceed with the case. The initiator of the move, MoneyTrigz, alleged that crypto wallet and media service Bitcoin.com was purposely misleading buyers by blurring the distinction between Bitcoin and Bitcoin Cash. Read more…
Arizona Passes Bill For Tax Payments In Crypto, But Uncertainty Prevails
A bill that would allow residents in Arizona to pay their taxes in cryptocurrency was passed by the state’s House of Representatives, but the amendments made by the House created uncertainty over its implementation. Senate Bill 1091, sponsored by Republican Senator Warren Petersen, passed the Upper chamber on February 8. Read more…
Social Media Platform Blockpress Launched On Bitcoin Cash Blockchain
A new on-chain social media platform, Blockpress, has been launched. It is based on Bitcoin Cash blockchain. The social network, which allows people to create, share and, connect with each other without intermediaries, requires Bitcoin Cash for its actions. Read more…
Iceland’s Missing Bitcoin Mining Machines In China?
Iceland’s police suspect that 600 mining computers recently confiscated in China might be the ones stolen from the Nordic island country in what was dubbed as the “Big Bitcoin Heist.” Police in north China’s Tianjin Municipality seized the computers after the local power grid reported abnormal electricity consumption. Read more…
Tutorial: Crypto Lexicon – CHOYNA
The term CHOYNA is a distortion of China, a country where the cryptocurrency market is highly active. The country is considered very influential in the crypto market and also accounted for majority of Bitcoin mining and trading, until the government unleashed severe crackdown. Read more…
Current Prices
As of 9.33 am ET on Monday, Bitcoin was down 3.25 percent at $9,277.28 and Ethereum was lower by 7.63 percent at $720.06 on Coinbase.
by Jyotsna V
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