Bitcoin, Ripple and Ethereum Suffer Price Drop After Indian Cryptocurrency Ban Announcement (Metro.co.uk)
The price of Bitcoin has nosedived by 11 percent today to its lowest point since November 2017 amid a growing backlash against cryptocurrency trading. This dramatic drop came after India announced a ban on the buying and selling of virtual currencies. Since the beginning of 2018, the value of the world’s largest cryptocurrency plunged by almost half in a ‘bloodbath’ which saw £31 billion shaved off the total value of the market. Bitcoin dropped to a miserable low of $9,022 (£6,343) today, which is a long way from the high of almost $20,000 it hit at the end of last year. It slid more than 26 percent last month in its worst monthly performance since January 2015.
Cryptocurrency: Cash App Update Allows Users To Instantly Buy And Sell Bitcoin (International Business Times)
People who have the Cash App can now buy and sell bitcoin for free on the platform. The new feature comes as the hype over cryptocurrency continues. The bitcoin feature is available to all Cash App users under its latest update, except those in New York, Hawaii, Wyoming and Georgia. The update allows users to buy and sell bitcoin instantaneously on the app. The app now includes a bitcoin symbol in the upper right-hand corner when tapping Cash Card.
Samsung Confirms It’s Now Making Cryptocurrency Mining Chips (CoinDesk)
Samsung has confirmed it is now manufacturing bitcoin mining chips after reports to that effect surfaced this week. South Korean news outlet The Bell first revealed the news on Jan. 30, stating that Samsung was kicking off manufacturing in January, aiming to provide application-specific integrated circuits (ASICs) to an unnamed Chinese mining firm. A company spokesperson has since told TechCrunch: “Samsung’s foundry business is currently engaged in the manufacturing cryptocurrency mining chips.”
DAEX Foundation Launches New-Generation Distributed Cryptocurrency Clearing Ecosystem to Protect Investors’ Asset Security (Business Wire)
SHANGHAI–(BUSINESS WIRE)–DAEX Foundation recently launched DAEX (Digital Assets Exchanges), a new-generation distributed cryptocurrency clearing ecosystem. DAEX is committed to building a credible cryptocurrency clearing ecosystem that provides distributed and decentralized technology-based secure assets storage services for developers and investors of cryptocurrency trading platforms. DAEX has established partnerships with institutions such as 360 Capital and the Qtum Foundation. As the price of Bitcoin and other cryptocurrencies went up so quickly starting 2017, both traditional financial institutions and Internet giants began to pay attention to blockchain technology and cryptocurrencies.