Weekly Update: Market Update / CFTC / Coinrail $40M Hack / Bitmain IPO / Fidelity

Home Media VW Weekly Update: Market Update / CFTC / Coinrail $40M Hack / Bitmain IPO / Fidelity
Published on June 11, 2018

This video is a recap for the cryptocurrency market for the week ending June 9, 2018. For more on this week’s developments, please visit: crushcrypto.com/cc-weekly-june-10-2018/

Download the PDF version of the presentation: crushcrypto.com/wp-content/uploads/2018/06/2018-06-10-Crush-Crypto-Weekly.pdf

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Highlights: – During the past week the market was mostly flat up to Saturday. Bitcoin prices fell 1.5% to around $7,500 dollars while Ether prices moved up 1% to around $600 dollars. – On Sunday, there was a broad market sell off following news that the Korean exchange Coinrail was hacked. The overall market cap dropped by 13% to $303 billion dollars. – In the US, the Commodity Futures Trading Commission’s commissioner spoke positively about cryptocurrencies at a recent conference. He labeled them as a “modern miracle” and believes that blockchain technology could potentially transform the world in terms of impacting economic, social and political structures.

The commissioner further stated that he believes cryptocurrencies are here to stay and will eventually become part of the economic practices of countries around the world. – Coinrail, the Korean crypto exchange was hacked on Sunday, losing more than $40 million dollars worth of altcoins. Following the hack, the crypto market lost over $14 billion dollars in just a few hours.

– China’s Bitmain, the largest manufacturer of crypto mining chips in the world, is considering an IPO. According to the founder, the company is looking at potentially listing in Hong Kong or another market with US dollar denominated shares. – There are reports floating around that Fidelity may be opening up a cryptocurrency exchange in the future. According to various sources, Fidelity has been seeking software developers to open up a crypto exchange. No details have been provided yet on the launch date or how the exchange will operate.

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Disclaimer The information in this video is for educational purposes only and is not investment advice. Please do your own research before making any investment decisions. Cryptocurrency investments are volatile and high risk in nature. Don’t invest more than what you can afford to lose. Crush Crypto makes no representations, warranties, or assurances as to the accuracy, currency or completeness of the content contained in this video or any sites linked to or from this video.

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