Turcoin Revealed as Ponzi Scheme
Once thought to be Turkey’s National cryptocurrency turned out to be a Ponzi scheme after the founder of turcoin has disappeared with around $211 million of investors money. Ministry of Customs and Trade initiated an investigation against the company and at the beginning of June Hipper stopped paying its premiums. Investors couldn’t reach founders over the phone and at the “mining facility” in Eskişehir, no representatives could be found.
UBS Chief: Blockchains’ “Almost a Must”
CEO of the Swiss banking corporation UBS Group AG (NYSE: UBS) has backed the blockchain technology, saying it’s "almost a must" for business. Sergio Ermotti has suggested that the blockchain could allow companies to become more efficient and reduce their operations costs as firms are searching for ways to free up their resources, the distributed ledger looks especially attractive.
NY Grants BitLicense to Square
A digital payments platform Square has been given a BitLicense by the New York Department of Financial Services (DFS). This license will allow Square to buy and sell bitcoin (Bitcoin) legally in the state of New York.
IBM, Mediaocean Partner up for Media Ecosystem Blockchain
Mediaocean, the world’s leading media software company, and technology giant IBM have announced the launch of a blockchain consortium to support a digital media supply chain. The parties were able to unite the largest advertisers such as Kellogg, Kimberly-Clark, and Pfizer. The new blockchain technology “aims to provide transparency and build trust and accountability in the advertising ecosystem.” The technology will allow tracking the effectiveness of each promotion campaign. In addition, the blockchain will form the basis for conducting honest financial relations, where each cent is intended to work for the advertiser. The work will be built on the IBM Blockchain platform.
Japanese Village to Launch Municipal ICO
Authorities in Nishiawakura village of the Japanese Okayama Prefecture have announced the launch of the Initial Coin Offering (ICO). Officials have been looking into conducting an ICO to strengthen the local economy since November 2017. The local economy association will release tokens called Nishiawakura Coin (NAC) which will be based on Ethereum blockchain.
At 13.30 (GMT+1) total cryptocurrency market capitalization stands at $291,4 billion
Ethereum (ETH/USD) $537 (+8,30%)
Ripple (XRP/USD) $0,54 (+6,97%)
EOS (EOS/USD) $10,68 (+3,70%)
TRON (+17,37%) showed the best growth in the top-100
The trading volume of cryptocurrencies for 24 hours reached $13,08 billion (+3 billion per day)
BTC $3,2 for 10 TH/s
ETH $0,4 for 10 MH/s
BCH $0,35 for 1 TH/s
LTC $4,6 for 1 GH/s
DASH $0,15 for 1 GH/s
Click here for the full list of ongoing ICOs.
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By Nadya Astam