📰 3/8/2018 ICE in partnership with Microsoft and Starbucks launches crypto payment platform (taking Coinbase, Bittrex, Gemini & Polo head-on), and other news by ICO Telegraph

icotelegraph (60)in #bitcoin • 6 years ago (edited)

🕑 4 min read

What did we collect for you today:

New global crypto-payment system: The NYSE/ICE group officially announced that new union taking Coinbase, Bittrex, Gemini & Polo head-on.
Exchanges/listing/ICO news: new tokens, announcements;
And more related information.

📌 Rainy crypto days

Price of Bitcoin is falling, big players are coming to the market

At the moment, Bitcoin is fighting for the previously achieved price barriers. The BTC's price is steadily falling. The currency can also meet new lows. For example, the today's market capitalization is equal to 9-month-old volumes. So, in November 2017, market cap was near 250 billion. How long will the downtrend last? (Can't be answered in exact figures). Now the most reactive analysts say that the Bitcoin's price is unlikely to show a serious increase in 2018. Better to watch.

Real use: One of the largest financial companies, Intercontinental Exchange (ICE, owner of New York Stock Exchange), in partnership with Microsoft, Starbucks and BCG (Boston Consulting Group) is working on new payment platform called Bakkt. Bitcoin will be listed at Bakkt firstly; it will allow to use various virtual assets, including cryptocurrency, in global payment system.

Update:

1/ BREAKING: The NYSE/ICE group officially announces they're taking Coinbase, Bittrex, Gemini & Polo head-on. Starbucks announces they'll be accepting crypto. This is the Wall St. troll of the century, folks.

source: twitter

Upd: Coinmarketcap can provide false data which can be updated to normal values by refreshing.

📌 Chinese billionaire is building a cryptocurrency hub in the US

Big plans for the future: China invests in Connecticut Fintech Village

One of the richest people in China is building Fintech Village in Connecticut Mr. Bruno Wu, former chairman of Sun Media Group and experienced investor-billionaire decides to establish a cryptocurrency center, which will include colleges and educational institutions of crypto. There are also rumors that Connecticut, the American city may eventually turn into an innovative province, supported by China. It is now clear that Wu's initiative is dictated by private interests, although he may also have long-term plans.

Experts say that despite the high interest in the cryptocurrency industry, the number of specialists ready to develop a real product is extremely low. Therefore, the creation of special educational centers with official accreditations will help fill the shortage of technical specialists who work not only with the blockchain, but also with AI, management, so on. And this will only increase the adoption of the cryptocurrency.

💰Market Cap: $267.95B
💵24h Vol: $13.64B

📊 Prices TOP 03.08.2018

↗️↘️Bitcoin: $7,484.49
↗️↘️ETH: $414.13
↗️↘️XRP: $0.439971
↗️↘️BCH: $719.99
↗️↘️EOS: $7.17
↗️↘️XLM: $0.262899
↗️↘️LTC: $76.32
↗️↘️ADA: $0.131837
↗️↘️IOTA: $0.932462
↗️↘️USDT: $0.999251

♻️ Exchanges

📌 OKEx spends 2 500 BTC to reduce societal losses

What is that & how much it costs

Over the past few days, the Hong Kong crypto exchange OKEx minimizes losses from a very unusual long position with BTCUSD futures, which worth more than $400 million (4168515 contracts). It's not the first time for OKEx when its needed to face the closure of «heavy» contracts. Earlier, in the spring, with the already launched trading service for BTC futures, 2 big short contracts (worth $120 and $73 mln.) were closed on the exchange.

At the moment, long "complicated" position has brought losses in the form of a socialized debt. Now the amount of losses distributed between traders is 17%. If OKEx could not complete this position, then these losses would have grown to 40%.

Does the exchange have the right to socialize losses? Indeed, now the company will distribute the damage between other traders. From August 4, the updated margin trading rules will appear on this platform, which can probably limit the risk of a repeating of such a situation in the future, and reduce the fear of market manipulation also.

At the moment 2,500 bitcoins will be reimbursed by the exchange as an insurance fund. It is possible that the cryptocurrency system will handle with high price volatility caused by large orders, as well as low liquidity.

📌 Mt.Gox creditors will receive repayments in 2019

Mt.Gox creditors required to receive Bitcoin repayments on preferred exchanges

Mt.Gox exchange filed an application for liquidation in April 2014, then, this year, Tokyo court ordered the exchange to pay the funds to the creditors. The first payments will be credited to the accounts in May and June 2019.

Not so long to wait: the process of civilian rehabilitation is launched. There is also an amendment that altcoins payments will be compensated in connection with the difference in exchange rates. Interested parties can also receive payments on exchanges which are preferred for them.

📌 More updates

IOTA will be listed on Upbit, the largest South Korean exchange. The note about this event also says that the listing was postponed during the update of the emergency patch.
Cryptopia exchange announced the opening of the new Augur Reputation (REP) contract.
Coinbase exchange has released a plugin for purchases payments in online stores. This addition works only with the WooCommerce e-commerce tool, therefore, it will be possible to buy through Coinbase only in stores that use it.