Key Facts Of The Day 12.10.2018

Bithumb to Undergo Plastic Surgery Under New Owner

South Korea's largest cryptocurrency exchange, Bithumb, confirmed the information on the sale of a 38% share to a Singaporean blockchain consortium for $350 million or 400 billion won, a local Korean media reports. According to the publication, Bithumb announced that on October 11 it made a deal with the BK Global Consortium, an investment blockchain division of the Singapore-based BK Global, a plastic surgery company. BTC Holdings Company, currently owning a 76% stake in Bithumb, agreed to sell 50% plus one share. This will make BK Group the largest shareholder in the South Korean stock exchange after the transaction is completed.

Chinese Crypto Tycoons Now Among Richest Men

Hurun, a business publication in the People's Republic of China, which is the local equivalent of Forbes magazine, ranked the richest people in China.

The Hurun Research Institute published the “2018 LEXUS • Hurun China Rich List 2018” rating, in which the founder of Alibaba and Ant Financial, 54-year-old Ma Yun, also known as Jack Ma for the second time in four years became first with a fortune of 270 billion yuan. Recently, Jack Ma said that he pays special attention to Bitcoin and blockchain technology. The magazine also includes the names that are associated with crypto personally and owners of the world's major cryptocurrency exchanges.

Syrian Rojava to Build Anarchic Crypto Babylon

The Middle East, close to the heart of the Syrian conflict, is where everything is complicated and nothing is what it seems. For generations, different countries have conflicting and ever-changing agendas for this area. Just in the northern part of Syria, there is a place called Rojava or Democratic Federation of Northern Syria and it is under heavy sanctions.

Cryptocurrency can become the path for the region to avoid those sanctions. Over four million people live in Rojava and every neighboring state put sanctions on it. Erselan Serdem is Rojava technological development program leader. He believes that crypto can be the alternative to Syrian lira, the national currency of Syria, which Rojava fought over for four years. He hopes to establish crypto and blockchain education as well. Another figurehead of crypto movement is Amir Taaki, a Bitcoin developer and also a veteran of Rojavan war. Inspired by him, Serdem considers their vision a decentralized system of society, while the rest of the world calls it anarchy.

What Else:

At 18:20 (GMT+1) total cryptocurrency market capitalization stands at $202.5 billion

Litecoin (+1.30%) showed the best growth in the top-10

Digitex Futures (+13.05%) showed the best growth in the top-100

Market Dynamics

The trading volume of cryptocurrencies for 24 hours reached $13.6 billion (-3.1 billion per day)

Mining Profitability

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