Bitcoin, Ethereum, Ripple, Litecoin, the 'cryptos' all bounce ! :


The rebound is confirmed for digital currencies, despite the 'business' and fears of tightening regulation. Bitcoin is still recovering from 9% today to $ 8,797 according to Coinmarketcap. The BTC has just recovered nearly 50% since its recent low under $ 6,000. Obviously, it loses more than 50% since its recent historical peaks, registered mid-December.

The Ethereum goes up by 8% to $ 870. The Ripple climbs 12% to about $ 1.09. The centralized 'crypto' still drops two-thirds of its value, from the recent highs touched to nearly $ 3.3.

Bitcoin Cash currently earns 6% over 24 hours at $ 1,296. The Cardano jumped 6% and the Stellar 10%. Litecoin flames by 11%. NEO and IOTA, finally, fly by more than 14%.

This rebound in crypto-currencies is, for the time being, not based on any good fundamental news, but rather on the opportunity effect created by the brutality of the previous fall. The tightening of regulation, already perceptible in Asia, is confirmed, the USA now entering the track. In addition, the 'business' is continuing, an Italian exchange platform having in turn announced a significant loss of cryptocurrency.

170 million dollars 'lost' by BitGrail
The Italian platform BitGrail has announced that it has lost around 17 million NANO chips, worth around $ 170 million. According to the BitGrail website, internal audits revealed 'unauthorized transactions'. The case is still confused, nothing to ensure that it is a piracy. The platform says it has informed the authorities. Withdrawals and deposits are currently suspended. 'Francesco the Bomber', a Twitter user posing as the boss of the platform, says the 'tokens' have been stolen.

Trust capital of 'cryptos'
This new sulphurous affair should not fundamentally restore the trust capital on cryptocurrencies. The operators had already been scalded by the record piracy of the Japanese platform Coincheck in January. $ 530 million of assets were then stolen by pirates. The firm then stated its intention to repay the customers victims of piracy. For its part, BitGrail is apparently not able to do it ...

The Mt. Gox lesson
The collapse of the Japanese platform Mt. Gox in 2014, after a theft of 'cryptos' of 460 million dollars, does not seem to have served as a lesson. From this point of view, it is clear that increased regulation and controls would undoubtedly benefit the sector in the long run.

The SEC threatens
In the United States, the SEC, a policeman of local financial markets, may well ask the US Congress to legislate, to strengthen the supervision of digital currencies such as Bitcoin. Jay Clayton, the chief executive of the Securities & Exchange Commission, commented on this last week, highlighting the risks posed by this brand-new asset class in an intervention before a congressional committee.

US agencies solidary on the issue
Jay Clayton, according to Reuters, said the SEC, the Commodity Futures Trading Commission (CFTC) - the agency responsible for overseeing futures - but also the Treasury Department and the Fed, could return to Congress, in order to obtain legislative intervention on the issue of cryptocurrencies. In the same spirit, the head of the SEC intends to control ICO ('initial coin offerings'), these fundraising in digital currencies, in the same way as IPOs on Wall Street.

More white than white?
For his part, Christopher Giancarlo, the leader of the CFTC, explains that he works hand in hand with the FBI, on money laundering and terrorist financing cases. The CFTC leader says he will not tolerate mischief related to Bitcoin and its peers.

Several Banks Prohibit Bitcoin Credit Card Purchases
Lloyds, fearing a further decline in prices of 'cryptos', has banned its customers to buy Bitcoin or other digital currencies by credit card. The ban took effect earlier this month for clients of Lloyds Bank, Bank of Scotland, Halifax and MBNA. The decision does not apply to debit cards, but 'only' to the 8 million customers in the group with credit cards.

Lloyds thus swells the ranks of the big banks having opted for prudence on the subject of crypto-currencies. Citigroup, Bank of America and JP Morgan Chase have also suspended credit card purchases of 'cryptos'. Barclays, very active in the US and UK, may soon do the same.

Bitfinex and Coincheck still worry
On the business side, the Bitfinex and Coincheck cases are still a concern. Bitfinex and Tether, two companies headed by the same CEO, have been assigned by the Commodity Futures Trading Commission.

Bitfinex is a digital currency exchange platform, while Tether is the issuer of the eponymous cryptocurrency. The Tether is the 22nd digital currency by its capitalization, which amounts to about 2 billion dollars. Crypto Tether is backed by the dollar (its value is stable at $ 1). The firm ensures to have enough green banknotes in reserve to cover the 'tokens' in circulation ... Some experts doubt that the company really has this $ 2 billion. Tether broke off ties with Friedman LLP, which was reviewing its accounts.

Neither Tether nor Bitfinex has publicly communicated the location of their headquarters, the identities of their managers or their financial data. Bitfinex's parent company, iFinex Inc., is registered in the British Virgin Islands, and claims to be based in Hong Kong ...

North Korean pirates responsible for the 'record breaking' Coincheck?
The South Korean intelligence agency reportedly warned lawmakers that North Korean hackers may have been behind the record $ 530 million "NEM" the Japanese platform Coincheck suffered last month. At least that's what Reuters sources say. The South Korean National Intelligence Service would not, however, have presented any hard evidence of its hypothesis.

The NEM Foundation continues to 'follow' the NEMs stolen by the digital 'robbers' of the Japanese exchange platform Coincheck, thanks to the blockchain's traceability system. This case was a record piracy in the middle of 'cryptos', the stolen NEM representing an amount of 530 million dollars at the time of the theft. The NEM is a cryptocurrency and a blockchain platform launched in early 2015. This blockchain is tested by financial institutions and private firms, especially in Asia.
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