Cryptocurrency round up the week with collapse, Donald trump has criticized bitcoin and other events of the week

Summing up the week in the cryptocurrency industry, remember the statements made against cryptocurrency President of the United States Donald trump and fed Chairman Jerome Powell, a hacking BitPoint exchange for $32 million, the launch of the new platform ShapeShift and other key events.

The price of bitcoin

This week has been one of the worst for bitcoin and other altcoins market over the past few months. Despite the fact that on July 10 the first cryptocurrency overcame a 13 000, contrary to the expectations of many traders, instead of further growth, it fell sharply in the neighborhood of $12 000. This drop is not over, and in the night of 11 July quotations were at the level of $11 100. Thus, for these days the bitcoin lost more than 10%.

In the night of Saturday, bitcoin attempted to return to $12 000, however success it has not crowned, and the result of new decrease by Sunday evening, quotes at some point fell below $10 500.

And if bitcoin weekly losses amounted to about 7%, the situation Aldona much more sad. Losing most of their number in the double digits, which is clearly seen on the table below.

Note that earlier this week, ratings Agency Weiss Ratings has assigned the first bitcoin score, A-, noting that at the moment the potential benefits of investing in first bitcoin outweigh the risks, its technology updated, and the network is stable. At the same time, in Weiss Ratings added that investors should be wary of a correction and make informed decisions.

Donald trump and the Chairman of the Federal reserve spoke out about bitcoin

The US President Donald trump, who prefers daily to convey their thoughts via Twitter, for the first time spoke about bitcoin and digital currency Libra from Facebook. In his opinion, their value is extremely volatile and generally unsubstantiated.

«I’m not happy with bitcoin and other cryptocurrencies are not money. Their cost is excessively volatile and is taken from the ceiling. Unregulated scriptactive can facilitate criminal activity, including drug trafficking», he said.

According to trump, if Facebook and other companies want to be banks, then they need to obtain a banking license and comply with appropriate regulation as do national and international banks.

The President also said that he has only one currency:

«In the US there is only one real currency. She’s stronger than ever, it is reliable. It is the dominant world currency, and always will remain such. It’s a dollar!»

Meanwhile, the Chairman of the Federal reserve system (the fed) Jerome Powell agreed that a global cryptocurrency could eliminate the need for reserve currencies, chief of which is the US dollar.

«It’s possible, but in reality we don’t see mass adoption. Bitcoin is a good example. Almost no one uses it as a means of payment, it is speculative means of accumulation», — he stressed.

A day earlier, Powell said that the digital currency Libra will not start up until its creators can’t answer all the disturbing questions of the regulators.

The SEC approved the holding of licensee Blockstack at $28 million

The Commission on securities and exchange Commission (SEC) approved the application of the new York company Blockstack to host licensee in accordance with the position «A+». This was the first such precedent in the history of cryptocurrency krautsalat.

The position «A+» allows small companies to raise funds from the public, while respecting the less stringent regulatory requirements than an IPO. Under position «A+» companies are permitted to raise up to $50 million investment per year. Blockstack same holds tocancel for $28 million

Also this week, the SEC has assigned the first token ERC-20 qualification in accordance with the regulation «A+». In particular, the Agency approved the distribution of 187 million tokens Props between content creators and users streaming platform YouNow, for the internal activity with the aim of influencing the extent of their involvement.

As a result of breaking the Japanese stock exchange BitPoint stolen $32 million

Japanese bitcoin exchange BitPoint has undergone to hacker attack, which was stolen about 3.5 billion yen ($32 million) in the cryptocurrency equivalent.

As stated by the stock exchange immediately after the incident, it was unclear what cryptocurrency was stolen, but it is assumed that we are talking about bitcoin, Bitcoin, Cash, Litecoin, XRP and Ethereum. It is also known that much of the stolen funds belonged to the customers BitPoint, not the platform.

It should be noted, BitPoint is fully licensed by the financial services Agency of Japan (FSA) platform, which suggests that she had to provide the necessary security measures.

Tether mistakenly released 5 billion USDT on the blockchain TRON

On Saturday evening, July 13, the Issuer stablon Tether was unexpectedly released 5 billion USDT tokens on the blockchain TRON. Almost immediately issued tokens were burned, and instead released 50 million tokens, destined for the bitcoin exchange Poloniex.

As stated by Paolo Ardoino, CTO affiliated with Tether exchange Bitfinex, the process of preparing for the transfer of emission with the Omni Tron there is a problem with numeric digits tokens.

Despite the fact that the error was corrected quickly enough, the incident had some impact on the price of bitcoin. The course is the first cryptocurrency was down in the second half of the day on Saturday, however, when it became known about the record of issue of Tron-USDT, immediately went up, rising close to $11 500.

ShapeShift introduced a new exchange platform

Platform for instant cryptocurrency exchange, ShapeShift has celebrated 5 years since the beginning of the work, presenting a new version of its platform, which should become a comprehensive management solution for cryptocurrency capital.

The new platform is nacatamales: private keys shall use exclusively on hardware wallets best wallet or KeepKey (in the near future will add support for Ledger).

Also account, you can link a Bank account that will provide the opportunity to make almost instant transfers of funds in Fiat cryptocurrency that is stored in cold storage.

In ShapeShift believe that cryptocurrency revolution will not implement new custodian giants. According to the company, for a breakthrough in the financial industry, users should have complete control over their funds by means of control over private keys.

Held a full-scale launch of margin trading on Binance

July 11, leading trading volumes of the cryptocurrency exchange Binance launched a platform for margin trading for all users. Interface margin of the platform allows users to access to trade with leverage, and a regular trading, and for transfers of funds from the margin of the wallets in the exchange will not be charged Commission.

As collateral for margin trades, users of bitcoin, Ethereum, Ripple, Binance Coin, TRON and USDT. By analogy with the core platform, the fee can also be paid at the BNB.

CEO of Scanpan Zhao said that the new service should meet the needs of both institutional and retail traders.

Also this week Binance has officially launched crypto-Fiat platform in Singapore. Before that the site worked in reduced functionality mode.

On Poloniex there was a possibility of purchase of cryptocurrencies through credit cards

The exchange Poloniex added the ability to add/withdraw funds by Bank accounts as well as purchase bitcoin with credit and debit cards. In particular, users from more than 80 countries can now Deposit and withdraw funds directly through their Bank account. The money will be converted to USD Coin (USDC) for further trading.

It is reported that at this stage, the limit is $50,000 for deposits and $25,000 in withdrawals.

In addition, thanks to the cooperation Poloniex with the payment processor Simplex, customers from more than 60 countries can use their debit or credit card to buy bitcoins on the exchange. The Commission charged the Simplex is 3.5%.

Jihan Wu launched a new cryptocurrency startup

The former head of the Chinese company Bitmain Jihan Wu, together with some ex-employees of mining giant has launched a new platform for OTC trading, lending and storage of digital assets. It was called Matrixport and began work July 8.

The company is registered in Singapore that will allow it to circumvent the ban on the cryptocurrency trading in the PRC. At the moment the team Matrixport has about a hundred people, and the Jihan Wu is one of the largest investors.

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