#CryptoCorner; Market Stays Strong, Yahoo Japan Eyes Crypto Exchange and Vietnam Cracks Down in Response to Alleged Fraud
#CryptoCorner; Market Stays Strong, Yahoo Japan Eyes Crypto Exchange and
Vietnam Cracks Down in Response to Alleged Fraud
Point Roberts, WA, Delta BC – April 13, 2018 - Investorideas.com,
a leader in crypto and blockchain investing news reports on what’s driving the
cryptocurrency markets with today’s edition of Crypto Corner.
Crypto Corner – April 13, 2018
By Samuel Mowers at Investorideas.com
Read this in
full at http://www.investorideas.com/news/2018/crypto-corner/04131YahooJapanVietnam.asp
Market Stays Strong, Yahoo Japan Eyes Crypto Exchange and Vietnam Cracks
Down in Response to Alleged Fraud
After reaching $8055 USD and then sinking back down
to about $7650 USD at the time of yesterday’s Crypto Corner, Bitcoin (BTC) has
swung back to around $8100 USD and seems to be remaining steady there. A piece in
Bloomberg today attempts to explain the recent surge:
“Thomas Lee, head of research of Fundstrat Global
Advisors LLC, cited a combination of Santander’s plan for a blockchain-based payment application,
tax-related selling almost over and speculative short investors being squeezed
out of the market for the surge.”
At press time all the top cryptocurrencies have
exhibited 24-hour growth and the total market
cap is sitting at $324 billion USD, about $25 billion
more than this time yesterday.
Yahoo Japan wholly-owned subsidiary, Z Corporation,
plans to buy a minority stake of 40 percent in cryptocurrency exchange BitARG.
In an announcement, an ARG spokesman talked about the benefits of Yahoo’s purchase to
BitARG customers:
“As a result of this capital participation, the
Company will be able to utilize the service operation and security expertise of
the Yahoo Japan Group, which will make it easier for customers to prepare for
the start of the exchange service managed by the Company and to improve the
operation after the commencement We will promote the provision of secure
exchange services.”
The announcement from ARG also indicated that the
service will launch in the fall of this year.
In the wake of an alleged $660 million USD ICO
fraud, Vietnam’s prime minister, Nguyen Xuan Phuc, issued a directive to state
authorities to toughen up “management
of activities related to Bitcoin and other cryptocurrency” according to Reuters.
“The
statement followed a report by the official Vietnam News Agency that
authorities in Ho Chi Minh City had asked police to investigate accusations
that a company, Modern Tech JSC, raised money from token sales of Ifan and
Pincoin cryptocurrency.
The
request followed a weekend protest by dozens of people who accused the company
of “the largest ever cryptocurrency fraud involving 15 trillion dong”. This sum
is equivalent to $658 million.”
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