Cryptocurrency Daily News Bulletin, January 31

January 31, 2018 12:03 pm Published by

Please note: Information on this post should not be construed as personal investment advice. Prices were correct at the time of writing.


Bitfinex and Tether. The U.S. Commodity Futures Trading Commission sent subpoenas on Dec. 6 to the Bitfinex exchange, which is based in the British Virgin Islands, and Tether, a company that issues a widely traded coin and claims it’s pegged to the dollar. Both companies have the same CEO. Tether claims that its coins are backed by U.S. dollars held in reserve, but the company has yet to produce evidence of this. If it turns out that this reserve doesn’t exist, then this could cause serious disruption to the market, not least because, according to some analysts, this has implications for purchases made with Tether and could cause a crypto version of a ‘bank run’. Others have suggested that the tokens generated by Tether in recent weeks have been used to boost the price of bitcoin, particularly during times of market weakness. Bloomberg broke this story early yesterday evening (GMT).

Facebook. Late yesterday (GMT), news broke that Facebook have banned advertisements related to cryptocurrencies and advertisements for ICOs.

Bank of Japan. Today, Bank of Japan Governor Haruhiko Kuroda declared that the operators of virtual currency exchanges should step up measures to explain potential risks to investors and enhance security measures. The statement comes after the Coincheck Hack last Friday.

Line Financial Corporation. Japanese messaging service Line Corp, which is listed in Tokyo and the U.S., is expanding its reach with a new company that offers a cryptocurrency exchange, loans and insurance. Line currently has 168 million monthly active users.

Venezuela.  Venezuela’s president Nicolás Maduro has announced the pre-sale of his country’s national oil-backed cryptocurrency, the Petro. In addition, he has presented and signed the official petro’s whitepaper and unveiled the Petro Container for mining the new currency.


Individual Currencies


Lisk (18.00%)

(Positive) Today, Lisk was listed on Bitflyers, the popular Japanese exchange, and its price surged by approximately 60% in 30 minutes. The price has since fallen, but some gains have been sustained, despite the broader poor performance of crypto markets.


NEM (-12.21%)

(Negative) The Coincheck hackers who stole approximately $530 million of NEM (approximately 5% of the total NEM supply) last Friday have been trying to move their loot. The coins have been traced to an unidentified account, and the account owner had begun trying to move the coins onto six exchanges where they could then be sold. If a significant portion of these coins make it to exchanges, then this could have a negative impact on NEM prices.


Bitcoin (-6.53%)

(Positive) Samsung has begun manufacturing bitcoin specific ASICs miners, with the company starting production this month after they completed the development of ASICs miners last year.


OmiseGo (-10.82%)

(Positive) Early this morning (GMT), OmiseGo held the first of its live-streamed monthly ‘town hall’ meetings, in which key individuals in the company respond to questions and outline recent updates and future plans. A recording of the event can be accessed here:


Komodo (-12.13%)

(Positive) Komodo have delivered a detailed outline for their Decentralized ICO program.


Zcash (-9.35%)

(Positive) OpenBazaar, the peer-to-peer marketplace, announced today that Zcash can be used on its updated platform.


Bitcoin Cash (-7.35%)

(Positive) OpenBazaar, the peer-to-peer marketplace, announced today that Bitcoin Cash can be used on its updated platform.


NEO (-7.96%)

(Positive) At its developers conference in San Francisco NEO announced that it by 2020 it plans to process 100,000 transactions per second, without ‘sharding.’


Ripple (-8.69%)

(Positive) Yesterday afternoon (GMT), Brad Garlinghouse announced that SBI Virtual Currencies will be the first in the world to list XRP-$ as its primary fiat pair at beta launch.


–, Robert Maxwell

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