#CryptoCorner: #Bitcoin Sees Huge Rally, #Coinbase Withdraws Statement of ‘Approval’, Mining Giant #Bitmain Expands Israel Operations and Japan Overhauls Financial Regulator
#CryptoCorner: #Bitcoin
Sees Huge Rally, #Coinbase Withdraws Statement of ‘Approval’, Mining Giant #Bitmain
Expands Israel Operations and Japan Overhauls Financial Regulator
July 18th #CryptoCorner and Podcast sponsored by Crypto payment tech,
#Flip @FlipToPay ($NXTD)
Point Roberts, WA, Delta BC – July 18, 2018 - Investorideas.com,
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Crypto Corner – July 18, 2018
Bitcoin Sees Huge
Rally, Coinbase Withdraws Statement of ‘Approval’, Mining Giant Bitmain Expands
Israel Operations and Japan Overhauls Financial Regulator
Bitcoin (BTC) experienced a considerable upward
spike yesterday, going from about $6750 USD to a trading price of $7469 USD at
press time. The coin peaked at just under $7500 USD and grew an astonishing
$600 USD in less than an hour last evening, according to data from CoinMarketCap. In addition, Bitcoin’s (BTC) volume, which was blamed for some of last
week’s decline, is twice as large this week at $6.67 billion USD. The total
market cap has grown $26 billion USD from $271 billion USD to $297 billion USD
at press time. All but two of the top 100 listed coins on CoinMarketCap are in
the green for the last 24 hours.
According to Bloomberg, Coinbase has withdrawn their statement reported yesterday that they had received approval from the U.S. Securities and Exchange Commission (SEC) and
Financial Industry Regulatory Authority (FINRA) to acquire Keystone Capital
Corp., Venovate Marketplace Inc. and Digital Wealth LLC. In an email to
Bloomberg, Coinbase spokeswoman Rachel Horwitz said:
“It is not
correct to say that the SEC and FINRA approved Coinbase’s purchase of Keystone
because SEC was not involved in the approval process.”
Horwitz
clarified that it wasn’t necessary to be greenlit by the SEC but that there had
been communication with the body.
“The SEC’s
approval is not required for the change of control application,” she said.
“Coinbase has discussed aspects of its proposed operations, including the
acquisition of the Keystone Entity, on an informal basis with several members
of SEC staff.”
Israeli
publication Globes reports that
Chinese bitcoin mining giant, Bitmain, plans to expand its development centre
in Israel. The development centre, located in Ra’anana, will see a tripling of
their team, including “more than 40 researchers, programmers, engineers and
marketing people”. The centre’s manager, Gadi Glikberg, explained Bitmain’s
ambition in the face of the cooler market conditions.
"The
world may be in a period of relative calm after the great hype of December
2017, but for the major companies in the field this is a golden opportunity to
plan, build and grow, and Bitmain has identified the potential of Israeli
know-how and capabilities to contribute to the company's global effort."
Nikkei Asian Review reports that
Japan’s financial watchdog, the Financial Services Agency (FSA), has been
reconditioned to better respond to fintech and cryptocurrency concerns. A new
Strategy Development and Management Bureau replaces the Inspection Bureau, and
will be tasked with inspections of financial institutions.
Sam Mowers, Investorideas
Crypto Corner Sponsor:
Flip™ is the creation of Fit Pay, Inc., a leading provider of
cutting edge payment technology and a subsidiary of NXT-ID (NASDAQ: NXTD).
By leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders
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