Crypto Space Over The Past Week From 28 Of May To 3 Of June, 2018
At the end of the week, we resume everything that the crypto community talked about over the past seven days. This week Bittrex exchange launched trading fiat pairs and the Scottish hospital began offering treatment for cryptocurrency addiction.
The American cryptocurrency exchange Bittrex, which offers its customers the opportunity to trade approximately 200 digital currencies, has announced an agreement with a number of banks that allowed it to launch trading couples with the US dollar from May 31.
Poloniex cryptocurrency exchange introduced mandatory verification this year. On May 27 Poloniex published post according to which all legacy accounts need to complete this procedure. At the same time, many traders at the exchange's subreddit complained about freezing their legacy accounts without warning.
Bithumb, the largest South Korean cryptocurrency exchange, decided to ban trading on its site by traders from 11 countries, including North Korea, Sri Lanka, Iran and Iraq. Bithumb calls the decision attempt to prevent use of the platform for financing of criminal activity and money laundering.
Hong Kong cryptocurrency exchange BTCC confirmed that it will launch a new trading platform next month. It will provide increased liquidity, low spread, as well as a higher rate of deposits and withdrawal of funds. These options will be available to users all over the world.
Binance, one of the world's largest cryptocurrency exchanges, announced the launch of the $ 1 billion Social Impact Fund, which is designed to support cryptocurrency and blockchain startups. Ella Zhang, program manager for Binance Labs, said that Binance finances from its own funds.
Trading platform Huobi announced the launch of a cryptocurrency exchange investment fund (ETF) on June 1. Huobi also opened an office in Brazil and concluded an agreement with the Chinese investment company NewMargin Capital and South Korean Kiwoom Securities on the establishment of a fund to support the blockchain startups in China and South Korea.
Chinese security company Qihoo 360 discovered a number of vulnerabilities in the EOS cryptocurrency platform, which they called "epic." Experts say that hackers have the ability to activate a bug with the help of "malicious" smart contracts. By becoming a part of the block, such a smart contract can make all the complete nodes vulnerable to attacks.
Agency Weiss Ratings that publishes reviews of digital currencies, has published a new cryptocurrency rating, which includes 93 one. Only seven coins with a capitalization of more than $ 5 billion received an estimate of B- or higher. It incluide Bitcoin, Cardano, EOS, Etherium, Ripple, Stellar and TRON. Bitcoin is rated at B-, while Cardano and EOS are awarded B.
A new research of the Ukrainian cryptocurrency market showed that by the end of 2017 the country was included in the top-10 states using cryptocurrencies. Daily transactions on the crypocurrency exchanges amount to $ 1.9 million in equivalent: Exmo - $ 1,275 million, Kuna - $ 403,000, BTC Trade UA - $ 232,000. In 2017-2018, there were about 25 related to Ukraine ICO-campaigns, The leaders were Rentberry ($ 30 million), DMarket ($ 10.5 million) and SocialMedia.Market ($ 8.5 million).
The head of Ripple, Brad Garlinghouse, said that the situation, when the prices for cryptocurrencies correlate with the price of bitcoin, may soon change. According to him, this will happen when the markets begin to recognize the difference between assets.
Asus announced the motherboard H370 Mining Master, which is specially developed for the cryptocurrency. It supports up to 20 GPU that are connected to the motherboard in a simplified way - directly using the USB.
The manufacturer of mining hardware Bitmain has been criticized for the newest AntMiner B3 miner for the Bytom (BTM) cryptocurrency.
Zcoin, which is oriented to anonymity of the cryptocurrency, launches a live version of MTP v1.2 (Merkle Tree Proof), ASIC-stable algorithm Proof-of-Work (PoW) in its test network. MTP can handle memory sizes from 2 to 8 GB, which distinguishes it from other leading PoW-algorithms, such as Scrypt, Equihash and Cryptonight. Zcoin now grinds the MTP code, preparing for extended testing. The project will also launch a bounty program for miners wishing to take part in finding shortcomings before launching MTP in the main network.
The new issue of the Bank of Russia statistical bulletin states that cryptocurrencies do not threaten global financial stability. Experts noted that cryptocurrency assets could become a real threat to financial policy in the future if this market continues to grow and involve retail and institutional investors, banks and other participants.
The South Korean National Assembly issued an official proposal to allow the ICO in the country after the development of rules protecting investors. The noisy prohibitions of ICO in South Korea and China led to the flight of national companies to the more friendly jurisdictions of Singapore and Switzerland.
Also, law enforcement agencies of South Korea confiscated 191 bitcoins from cybercriminals. On May 30, the Supreme Court of South Korea ruled: cryptocurrencies may characterizes as property that has value, and confiscated in criminal cases. And on May 27, the German edition of Der Tagesspiegel reported that on February 20 this year, representatives of the law enforcement agencies of Bavaria issued a decree on the urgent sale of seized cryptocurrencies worth more than 12 million Euros (approximately $ 14 million).
The Japanese Financial Services Agency (FSA) announced the ban of so-called confidential cryptocurrencies, that is, those that provide anonymity to end users. Although officially the ban will come into force only on June 18, the Japanese exchanges already hold delisting of Monero, Dash, and Zcash. Regulators explain the introduction of new measures by the fact that anonymous cryptocurrencies can be used for criminal purposes.
Castle Craig, a Scottish hospital, began offering cryptocurrency addiction treatment for those who lost control of themselves. Doctors say that such patients can be treated in the same way as gamers. The hospital therapist Chris Berne says that trading cryptocurrencies is a way to escape from yourself into another world, because these people do not like the world in which they live.
The Czech company General Bytes, one of the world's largest manufacturers of bitcoin-ATMs, installed 10 new machines throughout the Prague metro. According to Coinatmradar.com, in the Czech Republic there are 46 bitcoins-ATMs, of which 34 are in Prague. Out of 3138 such units, produced all over the world, General Bytes produced 27.63%.
The company "Footwear of Russia" was the first among domestic retailers to use the blockchain technology. It is used to protect the data of customers purchasing goods on credit. In addition, the technology will be used in the microfinance organization, which is part of the company structure.
"Cryptocurrency reviewer" John McAfee said that in June he will issue his own currency called McAfee Redemption Unit, and in his recent video post on Twitter he called to fight with those who are at war with cryptocurrencies.