In August of last year, Bitcoin Cash forked from the bitcoin blockchain. This process basically splits bitcoin into two separate coins: bitcoin (“BTC”) and Bitcoin Cash (“BCH”). When this occurred, everyone who held bitcoin in a compatible wallet or exchange became entitled to claim an equivalent amount of Bitcoin Cash.
Strange news from Japan and further rumblings of regulators sent bitcoin back down to the $8,400 level at mid-morning. The cryptocurrency had rallied as high as the $9,100 level, but retreated as questions arose on Binance’s status with Japanese regulators.
Downward momentum carried over to the rest of the digital currency markets,
A report that Japanese financial regulators are set to crack down on Binance, the world’s largest exchange by volume, has roiled the cryptocurrency markets.
A Nikkei report indicated Binance has been operating in Japan without a license, and that regulators were ready to take unspecified action against the company.
The Information Technology and Innovation Foundation (ITIF), a think tank for science and technology policy, has applauded the Trump administration’s efforts to curb China’s alleged “pattern” of abusing economic and trade policy to gain unfair advantage in key industries. But ITIF cautioned the administration against imposing tariffs on producer goods that support US productivity growth.
The Congressional Subcommittee on Capital Markets, Securities, and Investment (Committee on Financial Services) hearing titled Examining the Cryptocurrencies and ICO Markets is now online.
Watch the full committee hearing:
Social trading network eToro has raised $100 million in a Series E financing round led China Minsheng Financial. Tokyo-based SBI Group and Korea Investment Partners also participated in the round.
eToro allows social trading and investments in a variety of financial assets,
Swarm Fund is a blockchain for private equity, creating a unique market infrastructure built on blockchain technology that enables investing cryptocurrency into real assets and deploying traditional capital into crypto markets in a new way.
Swarm is built for crypto investors who want to de-risk their portfolios,
Bitcoin sustained its rally today, as the legacy cryptocurrency hit a high of $9,100 per single coin by mid-morning. The drive sustained its climb out of the depths from last weekend, when it plunged as low as $7,300.
One down note – momentum is fragile right now,
Online lender CommonBond has raised $50 million in its Series D funding round. The round was led by Fifth Third Bank, with First Republic Bank, Columbia Seligman Investments, Neuberger Berman, August Capital, and Nyca Partners also participating.
CommonBond is a financial technology company on a mission to give students and graduates more transparent,
In response to a lawsuit against four individuals accused of cryptocurrency related fraud, the US Federal Trade Commission is forming a working group on blockchain issues.
“It is no surprise that fraudsters might use cryptocurrencies in their scams,” said an FTC blog post from Neil Chilson the acting chief technologist of the agency.