Key Facts of the Day 13.07.2018

NY Brings Energy Plans For Crypto Miners

New York State Department of Public Service approved the application of the Massena electric utilities for implementation of individual tariff plans for customers consuming large amounts of electricity, such as cryptocurrency miners.

WHY IS IT IMPORTANT?

- New York is not the first state that has come across the problem of increased electricity consumption. Previously Central Washington was transformed into a "cyber-boomtown" as bargain electricity rates have attracted miners. The public became worried that an increased number of miners would increase electricity prices.

- It is likely that other states will also develop special tariffs in an attempt to provide optimal conditions for both miners and ordinary energy consumers.

First Decentralized Bank of Malta, Binance Invests

One of the largest crypto exchanges Binance has confirmed it will invest in the first decentralized bank ever, called the Malta Founders Bank. It will be unique, as bank does not belong to any corporations, individuals or legal entities. Instead, it will belong to anyone who buys tokens of the bank.

WHY IS IT IMPORTANT?

- Founders Bank will use the blockchain-based system to cooperate with a fundraising platform Neufund with the goal of issuing its own share-tokens, the owners of which will have legal obligations.

- The Maltese bank expects to receive a European license to begin providing financial services legally. If granted, Founders Bank will become the world's first decentralized bank belonging to the cryptocurrency community.

Crypto Football Betting Rig Foiled in China

As the 2018 FIFA World Cup in Russia is coming to its spectacular ending, the gambling world is in its tiptoes eagerly awaiting a battle between this years tournaments best teams. But this was not good news for some as in the Chinese province of Guangdong, as $1.5 billion in crypto was seized and 540 people were arrested for gambling related activities.

WHY IS IT IMPORTANT?

- They are said to have organized an online platform for gambling during the FIFA World Cup and according to Chinese law, online gambling is prohibited.

- Organizers managed to earn about $1.5 billion (10 billion yuan) in cryptocurrencies Bitcoin, Ethereum and Litecoin. The platform operated for around 8 months, including during the FIFA World Cup, and attracted more than 330,000 participants.

Trump’s Special Force to Fight Cryptocrimes

The president of the United States Donald Trump signed a decree on the creation of a task force that will investigate crimes including cryptocurrencies. In the near future, the new working group should provide the president with a report on crimes related to digital money.

WHY IS IT IMPORTANT?

- Fighting cryptocurrency frauds is an important task for many countries. This was one of the reasons why numerous governments have declared digital money outlawed and are not adopting any rules that would regulate this sphere for any potential work with it.

- In January, the U.S. authorities have announced the creation of a working group dedicated to cryptocurrencies, led by the Ministry of Finance. Officials said they would cooperate with their partners from the G20 countries, and the main aim of their work was set to fight the use of cryptocurrency in illegal activities.

- Earlier in June, the U.S. House of Representatives Committee on Financial Services proposed a bill carrying out a study on how virtual currencies and online marketplaces are used in sex and drugs trafficking.

Billionaire Steve Cohen Gets into Crypto

An American investor, philanthropist and just a regular billionaire Stephen Cohen, has recently invested in the Autonomous Partners hedge fund on behalf of his Cohen Private Ventures company. The hedge fund is crypto and blockchain oriented. The amount Cohen’s company has invested into the fund are not revealed.

WHY IT IS IMPORTANT?

- The agreement came to life in the period of a significant market drop compared to the last year's maximum. Other investors along with hedge fund managers continue to actively enter the market of cryptocurrency despite the ongoing downtrend.

- Cohen is one of the legends among traders, he is also number 102 in the world ranking of the richest by Forbes magazine, with a fortune of more than $12 billion.

At 20:30 (GMT+1) total cryptocurrency market capitalization stands at $247,8 billion

Bitcoin (EXANTE: Bitcoin) $6 229 (+0,52%)

Ethereum (ETH/USD) $433 (+0,71%)

XRP (XRP/USD) $0,437 (+0,54%)

Bitcoin Cash (EXANTE: Bitcoin.Cash) $694 (+1,90%)

EOS (EOS/USD) $6,98 (+2,41%)

TenX (+31,82%) showed the best growth in the top-100

Market Dynamics

The trading volume of cryptocurrencies for 24 hours reached $11,5 billion (+0,01 billion per day)

Mining Profitability

BTC $2,8 for 10 TH/s

ETH $0,33 for 10 MH/s

BCH $0,25 for 1 TH/s

LTC $4,02 for 1 GH/s

DASH $0,14 for 1 GH/s

Ongoing ICOs:

Expected ICOs:

Click here for the full list of ongoing ICOs.