December 3, 2020

Cryptheory

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Crypto News of the Day (20.2.)| Bitcoin dropped $ 800 in an hour • CEO Binance blocked critics of crypto exchange outages on Twitter • and other news

4 min read
Crypto News of the Day (20.2.)| Bitcoin dropped $ 800 in an hour • CEO Binance blocked critics of crypto exchange outages on Twitter • and other news

Here you can find an overview of the most important events that took place during the last day in the cryptoworld.
 

Markets

Yesterday there was a sharp fall in the price of Bitcoin. The price drop began around 21:45 UTC when Bitcoin lost $ 800 in an hour. During this time, long contracts worth more than $ 100 million were liquidated on the BitMEX. Altcoins also bleed, with a few exceptions.

 

You can monitor the current cryptocurrency prices – here.

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Cryptocurrency

 

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Crypto exchanges, Banks

 

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Scams

 

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Blockchain, Technology

 

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Ripple claims that XRP Ledger is now backed by Microsoft, BitSo and BitGo

 

Ripple updated key statistics on the amount of XRP they hold, as well as on companies that help maintain the network. Cryptographically secured escrow accounts remain for $ 49,700,000,013 worth about $ 13.8 billion. At the end of 2017, the company deposited XRP 55,000,000,000 in custody and implemented a monthly plan to release XRP 1 billion and make the company’s funds available for sale.

 

Ripple also claims that Microsoft remains the leading partner to process transactions on XRP Ledger on the network. BitGo and Bitso are two of the latest network-contributing businesses. CGI, Berkeley Haas, Telindus, University of Tokyo, GateHub, WorldLink, Bahnhof and Flagship are also members of Ripple Net.

 

Australian National Stock Exchange is planning a DLT platform

 

NSX Ltd. and iSignthis (ISX), both publicly listed companies, announced on Thursday that they are creating a joint venture to offer a digital securities trading platform. The new entity, called ClearPay, will offer a platform based on DLT and provide settlement on the same day versus payment (DVP).

 

The companies said they intend to compete with ClearPay with the Australian Stock Exchange (ASX), which is also building a DLT replacement for the outdated CHESS clearing system by working with blockchain Digital Asset by providing a one-day settlement solution in the industry where it continues settlement up to 3 days.

 

American branch of Binance flipped through Zilliqa

 

Binance US, the Binance trading platform for US customers, announced on Thursday, February 20, that it added support for another cryptocurrency: Zilliqa (ZIL). Launched last month, Binance US is a digital asset exchange licensed from Binance, but is operated by BAM Trading Services, based in San Francisco.

 

CEO Binance has blocked critics of stock market downtime on Twitter

 

Following the unexpected outage of Binance’s leading crypto exchange, its CEO on Twitter blocked anyone posting criticisms of Binance or asking how failures always occur during sharp Bitcoin price fluctuations. Around noon GMT, Changpeng Zhao tweeted that the system was deactivated for “unscheduled” maintenance and trading was temporarily offline. Such a clear tendency towards censorship seems to contradict the original main idea of ​​cryptocurrencies.

 

 

Gemcoin’s founder admitted to misappropriating funds of nearly $ 150 million

 

Steve Chen, the person responsible for fraud with the Gemcoin cryptocurrency of $ 100 million in 2013-2015, pleaded guilty to tax evasion, conspiracy and fraud. According to the Department of Justice, a 62-year-old Southern California citizen will face a term of imprisonment of at least 10 years.

 

His firm Arcadia sold investors his digital currency “Gemcoin”, secured by gems that actually did not exist. The MLM system attracted 70,000 victims worldwide and misappropriated $ 147 million in two years of operation.

 

Korean State Bank is developing a blockchain platform for bond settlement

 

Following the steps of the World Bank and the Australian Central Bank, which have joined forces to issue Ethereum blockchain-based financial bonds, the Bank of Korea is preparing to develop a bond issuance system with the help of the Distributed Book of Accounts (DLT) for the Korean bond market. If everything goes according to plan, bond transactions will be recorded on the blockchain and could lay the foundation for a real-time trading system.

 

 

[crypto coins=”BTC,ETH,BNB,ZIL” columns=”2″]

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