#CryptoCorner:, Korea Post Seeks #Crypto Expertise from Goldman Sachs, #Coinbase Pro to Launch GBP Trading Pairs, Coins More Than Triples User Base in Under a Year and #Bitcoin Spikes in Iran as Gov’t Recognizes Mining as Legitimate
#CryptoCorner:, Korea Post Seeks #Crypto Expertise from Goldman
Sachs, #Coinbase Pro to Launch GBP Trading Pairs, Coins More Than Triples User
Base in Under a Year and #Bitcoin Spikes in Iran as Gov’t Recognizes Mining as
Legitimate
September 6th #CryptoCorner and Podcast sponsored by Crypto
payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App
Point Roberts, WA, Delta BC September 6, 2018 - Investorideas.com, a leader in crypto and
blockchain investing news reports on what’s driving the cryptocurrency markets
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Market Plummets, Korea Post Seeks Crypto Expertise from Goldman Sachs,
Coinbase Pro to Launch GBP Trading Pairs, Coins More Than Triples User Base in
Under a Year and Bitcoin Spikes in Iran as Gov’t Recognizes Mining as
Legitimate
Bitcoin (BTC) lost its $7000 USD support in a
dramatic fashion as the market plummeted yesterday. Bitcoin is trading at just
$6471 USD at press time, according to CoinMarketCap as the total market cap is down $20 billion USD
for a current value of $204 billion USD. Like yesterday, virtually all of the
top 100 listed altcoins are in the red this morning. CCN’s Joseph Young writes that the
steep decline seen today is a result of massive sell-offs across crypto
exchanges that was likely triggered by static volumes and a culmination of
pressure to sell after Bitcoin failed to sustain growth following its recent
surge.
“…it is highly likely that the drop
in the prices of major cryptocurrencies on September 5 was triggered by a
buildup of sell pressure and the stagnation of the volume in the cryptocurrency
market.
BTC successfully initiated a
corrective rally from the $6,000 to $7,500 in late August, but struggled to
maintain momentum above the $7,000 mark.”
Bloomberg reports that Korea Post, South Korea’s state-run postal service, has
sought to learn about crypto from Goldman Sachs. Korea Post president, Kang
Seong-Ju, said in an interview that he met with Goldman Sachs’ soon-to-be chief
executive David Solomon to discuss crypto in New York.
“I asked Goldman to pass on their know-how in the
cryptocurrency area. Since cryptocurrencies are considered to have potential,
and are something many people are watching, we’ll need to learn the strengths
and weaknesses.”
Coinbase Pro’s general manager David Farmer
announced in a blog post that on September 7 the exchange giant would be launching four new GBP
trading pairs. As Coinbase already supports BTC-GBP, the four additions will
be: ETH-GBP, ETC-GBP, LTC-GBP and BCH-GBP.
Tech in Asia reports that Coins, the largest crypto exchange in Southeast Asia, has
more than tripled its user base in less than a year. Ending 2017 with 1.5
million users, Coins revealed earlier in 2018 that it is up to 5 million users.
The company’s CEO and co-founder Ron Hose attributed the exchange’s success to
the ease of conducting remittances through its wallet service.
“[Peer-to-peer]
remittances are free and instant on Coins. When users remit money back to their
family, they’re doing it from their phones. That is the core thing driving
retention for us.”
The Secretary of Iran’s Supreme Council
of Cyberspace has indicated that cryptocurrency mining has been accepted as an
industry by the government and relevant authorities, local outlet IBENA reports. This
has led to a spike in the price of Bitcoin locally, as the cryptocurrency was
trading at $24,000 on multiple exchanges, according to a report from Hacked
Sam Mowers, Investorideas
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