✷ News ✷ Analytics ✷ Analysis ✷ Forecasts

Bitcoin's influence over cryptocurrency prices could end soon, says Ripple CEO

Cryptocurrency prices have been highly correlated with bitcoin, the first and most famous out of thousands that exist. But that could end soon as markets start to acknowledge the differences between these assets, according to Ripple CEO Brad Garlinghouse.

https://www.cnbc.com/2018/05/30/bitcoins-influence-over-cryptocurrency-prices-could-end-soon-says-ripple-ceo.html

Headphones Maker Monster Is Quietly Planning A $300 Million ICO

Monster Products, Inc. has been losing money for years, but a $300 million initial coin offering (ICO) may be what it takes to turn the company around.

Founded in 1978, Monster, which makes electronic accessories such as headphones and Bluetooth speakers, has primarily relied on retailers to distribute its goods up to now. Business issues aside, though, Monster doesn't appear to be cutting back on its ambitions for making a change.

https://www.coindesk.com/headphones-maker-monster-quietly-planning-300-million-ico/

$30 Million Crypto Startup Fund Launched By Mobile Game Maker

A maker of mobile games based in Japan has launched a $30 million investment fund focused on cryptocurrencies and blockchain.

Gumi is a maker and publisher of games, including titles such as Brave Frontier and Final Fantasy: Brave Exvius (on which it served as a collaborator along with Square-Enix and another firm, Alim).

https://www.coindesk.com/30-million-crypto-startup-fund-launched-mobile-game-maker/

BOSTON COLLEGE STUDY: ICOS OFFER HUGE RETURNS, INVESTORS SHOW SAVVINESS

Researchers from Boston College’s Carroll School of Management recently published a study of initial coin offerings (ICOs) and their significant underpricing. The study finds that significant returns are all but guaranteed for those willing to participate in the controversial new form of crowdfunding and early investment, while also noting that such investors are savvy.

Read more: http://bitcoinist.com/boston-college-icos-huge-returns/

$7,800 Ahead? Bitcoin Sets Sights on Key Resistance Level

Bitcoin (BTC) is working its way through the key supply zone above $7,500 and could test resistance at $7,870 in the next 24 hours, the technical charts indicate.

The cryptocurrency looked primed for a corrective rally yesterday, having created a bullish outside-day candle on Tuesday. However, the bulls had a tough time absorbing supply around 50-candle moving average (MA) on the 4-hour chart, located yesterday at $7,550.

https://www.coindesk.com/7800-ahead-bitcoin-sets-sights-on-key-resistance-level/

Binance Coin Sky Rockets As XRP Trading Pair Added

This morning, Binance have announced a number of new additions to their ever-growing cryptocurrency exchange. The announcement comes in the form of brand new trading pairs, all of which have been added to the exchange, causing a wave of excitement that seems to have caught up with Binance’s native cryptocurrency, Binance Coin, causing the currency to skyrocket.

Read more: https://cryptodaily.co.uk/2018/05/binance-coin-sky-rockets-as-xrp-trading-pair-added/

Crytpo Payroll Service Bitwage Launches ICO Advisory Firm, First Client Raises $50 Million

Bitwage was launched in 2011 as a Bitcoin payroll and international wage payment service, and the firm has now launched an ICO advisory firm called Inwage after recognizing the importance of initial coin offerings in the crypto-ecosystem.

Bitwage published a blog post about their new venture earlier today:

“While ICOs provide a unique opportunity for companies to raise money from a wide range of individuals and entities around the globe, it is often seen as a complex, expensive and risky process. Having launched Bitwage back in 2014, Inwage leverages our experience in Blockchain to build a highly secure turnkey solution for companies of all sizes to launch ICOs.”

The company aims to offer both technical services and marketing services such as smart contract development and auditing and website creation as well as PR and event marketing.

The company surpassed the initial fundraising target of the first client, Moria Token, by 40%, raising $50 million in the ICO for the project aiming to provide an investment platform for the mining of precious metals as well as aiding with IT and security compliance. https://www.ccn.com/bitwage-launches-ico-advisory-firm-first-client-raises-50-million/

Monster Inc. to Launch ICO to Recoup Losses

Music cable manufacturer Monster Inc. is going to launch an initial coin offering and a new e-commerce website in an attempt to reverse its habit of losing money.

Read more: https://www.financemagnates.com/cryptocurrency/news/monster-inc-launch-ico-recoup-losses/

IDG Backs Crypto Wallet imToken with $10 Million Investment

China-based cryptocurrency wallet imToken announced Thursday that it has closed a $10 million Series A round fully funded by venture capital firm IDG Capital.

Founded in 2016, imToken first entered the industry as a dedicated ethereum wallet service, but has since expanded to support a claimed 30,000-plus tokens, including "airdrops" and ICO issuances.

https://www.coindesk.com/idg-backs-crypto-wallet-imtoken-with-10-million-investment/

Israel postpones cryptocurrency exchange regulations

The Finance Committee of Israel’s parliament (the Knesset) has convened a special meeting to postpone the law regulating cryptocurrency exchanges by four months.

Read more: https://www.bankingtech.com/2018/05/israel-postpones-cryptocurrency-exchange-regulations/

Forex Firm CLS Invests $5 Million in Enterprise Blockchain Startup R3

CLS, a U.S.-based forex settlement provider, has made a $5 million investment in enterprise blockchain startup R3.

According to a press release, the newly inked deal will see CLS will take a place on R3's board of directors.

https://www.coindesk.com/forex-firm-cls-invests-5-million-in-enterprise-blockchain-startup-r3/

Bittrex Launches USD Fiat Trading.
Bittrex has finally introduced fiat currency support. The US exchange, which was established in 2013, subsisted with tether as its USD surrogate until recently, before adding another stablecoin, TrueUSD, a couple of months ago.

You can find more here: https://news.bitcoin.com/bittrex-launches-usd-fiat-trading/

Coinbase Board Member: Crypto Ecosystem Will Not See Regulation for Years

Kathryn Haun, board member of Coinbase and HackerOne claimed that cryptocurrency and blockchain will not see regulation for years, Techcrunch reports May 31. Haun made her statements on regulation at the Code Conference in California today.

Read more: https://cointelegraph.com/news/coinbase-board-member-crypto-ecosystem-will-not-see-regulation-for-years

Disillusioned Token Investors Demand Real Talk About Risk

ICOs, I don't see results.

That's the growing complaint among investors who are passionate about blockchain technology but frustrated with a lack of tangible progress on professional risk management strategies across major token projects.

https://www.coindesk.com/ico-investors-talk-risk/

Japanese Gov’t-Licensed Crypto Exchange Acquired By International Investor for $50 Mln

Japanese crypto exchange BitTrade has been acquired for S$67 mln ($50 mln) by a Singaporean multi-millionaire and entrepreneur, Asia One reported yesterday, May 30.

The acquisition will see Mr. Eric Cheng take a 100 percent stake in BitTrade Co., Ltd, one of only 16 domestic crypto exchanges to receive a license from Japan’s financial watchdog, the Financial Services Agency (FSA). Cheng is also acquiring BitTrade’s affiliate company, FX Trade Financial Co., Ltd, one of Japan's leading forex trading platforms.

Read more: https://cointelegraph.com/news/japanese-govt-licensed-crypto-exchange-acquired-by-international-investor-for-50-mln

Crypto Startup Blockchain Hits 25 Million Wallets

Blockchain, the UK based provider of cryptocurrency wallets and services, has reported reaching a milestone of 25 million wallets this week, according to Yahoo Finance. Much of the growth has been in the US, where the company has rolled out bitcoin sales in recent months.

Blockchain Registers 25 Millionth Crypto Wallet
The significance of the milestone is tempered by the fact that the 25 million figure exceeds the number of bitcoin addresses that have a positive balance, according to data from BitcoinPrivacy, a website that supports bitcoin address privacy and analyzes bitcoin addresses in the interest of supporting privacy.

The website claims there are currently 22,057,779 bitcoin addresses with a positive balance and 20,812,887 unique wallets with a positive balance. This would indicate that many of Blockchain’s 25 million wallets are empty or that a large number of users hold ether but not bitcoin.

Blockchain’s customer base nevertheless now doubles that of Coinbase, which in November shared a number of 13 million users. Blockchain’s 25 million wallets surpass the customer bases of TD Ameritrade and Charles Schwab (though an individual may have multiple Blockchain wallets). https://www.ccn.com/crypto-startup-blockchain-hits-25-million-wallets/

Tezos Foundation announces preparations for Betanet launch.
http://tezosfoundation.ch/news/tezos-foundation-announces-preparations-betanet-launch/

Why You Should Consider Cryptocurrency Investments

There are some good reasons why investors should consider taking the plunge and staking some of their cash in cryptocurrency.

The media often highlights the best and worst of investing in digital currencies.

But not everyone will become an overnight Bitcoin millionaire, and nor will they lose their cash to dodgy scams – although both have happened.

Read more: https://www.iexpats.com/why-you-should-consider-cryptocurrency-investments/

Africa: Ubuntu Coin Finalist at The 2018 African Banker Awards in Busan (South Korea)

Ubuntu Coin (better known as U-Coin) was a proud finalist for Innovation in Banking category at 'The African Banker Awards 2018'. It’s the first time indeed that crypto and blockchain technology in general even gets considered for such prestigious competition, as U-coin is paving the way for the digital transformation of the continent.

Read more: http://allafrica.com/stories/201806010787.html