Welcome to my Cryptocurrencies Market Overview for Thursday, May 3, 2018.
Today in the news:
- Goldman Sachs will launch a bitcoin trading desk, the investment banking giant confirmed today.
- A group of lawmakers is moving to legalize ICOs in South Korea.
- Cryptocurrencies are set to make a comeback on Reddit.
- The Bitcoin network’s hashrate is continuing to climb.
- And more crypto news below...
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Latest Crypto News - May 3, 2018
Goldman Sachs to Open a Bitcoin Trading Operation
Most big banks have tried to stay far away from the scandal-tainted virtual currency Bitcoin. But Goldman Sachs, perhaps the most storied name in finance, is bucking the risks and moving ahead with plans to set up what appears to be the first Bitcoin trading operation at a Wall Street bank.
Read more: www.nytimes.com
More sources:
- Goldman Sachs Says Bitcoin ‘Is Not A Fraud’, Plans Trading
- Goldman Sachs Will Offer Bitcoin Trading, Eventually
- Goldman Sachs Will Launch a Bitcoin Trading Desk
- Goldman Sachs Launching Bitcoin Futures Trading Operation Within Weeks
- Goldman Sachs to Begin Bitcoin Futures Trading
South Korean Lawmakers Seek Reversal of Ban on ICOs
The regulatory landscape in South Korea tends to change quite a bit. Especially when it comes to cryptocurrency and ICOs, the future looks rather bright. A new proposal seeks to legalize the launch of new initial coin offerings in this part of the world. The bill has not been officially approved or endorsed, yet it sets a positive tone in general.
Read more: www.newsbtc.com
More sources:
- South Korean Lawmakers Introduce Bill To Legalize New ICOs
- Lawmakers move to legalize new ICOs in South Korea
- South Korea Bill Pushes Legalization of New ICOs after 2017 Ban
- New South Korean Bill Will Seek to Overturn ICO Ban
- South Korea to Legalize ICOs
Reddit Aims to Relaunch Bitcoin Payments with ETH and LTC Too
Social media platform Reddit is planning to reinstate cryptocurrency as a payment option for its gold members - and this time bitcoin won't be the only option.
Read more: www.coindesk.com
More sources:
- Reddit CTO: ‘I Think Crypto Payments Will Come Back’ To Platform
- Reddit to Re-Enable Bitcoin Payments, Ethereum and Litecoin Support Coming
- Bitcoin Payments are Coming Back to Reddit, ETH and LTC Payments to Be Added As Well
WSJ: Telegram Cancels Plans To Launch Public ICO Due To Abundance Of Funds Already Raised
The WSJ reports through an unnamed source that Telegram raised so much money in its first two ICO rounds that it won’t be holding another, public one.
Read more: cointelegraph.com
More sources:
- Telegram Cancels Public ICO After Raising $1.7 Billion in Presale
- Telegram Rakes in Over $1.5 Billion, Ditches ICO for an Open Network & Token
Bitcoin Is Not Used by Organized Crime Syndicates Says Hong Kong Government
Bitcoin is often accused by regulators, governments and central bankers as being a tool for money laundering by criminal organizations, usually without presenting any evidence. A new report from Hong Kong, a major international financial hub and nexus for trade between China and the whole world, spells this out clearly.
Read more: news.bitcoin.com
Bitcoin Network Hashrate At All Time High Even Among Market Corrections
The Bitcoin (BTC) network’s hashrate is continuing to climb today, May 2, according to data from BitInfoCharts. The continuous growth of the hashrate over the past months signals a constantly increasing level of interest from the miners, in spite of Bitcoin’s inability to break the $10,000 price point after the market crash in February.
Read more: cointelegraph.com
China National Radio Alleges OKEx Illegally Trading Crypto Futures In China
China National Radio station has reported claims that crypto exchange OKEx is illegally selling crypto futures to Chinese consumers.
Read more: cointelegraph.com
More sources:
Crypto Exchange Bitgrail Opens For Three Hours Before Legally Forced Shutdown
Recently hacked Italian crypto exchange Bitgrail tweeted Wednesday, May 2, that they reopened their exchange, only to report its temporary closure three hours later.
Read more: cointelegraph.com
More sources:
Sell In May and Go Away? Not for Bitcoin Bulls
Sell in May and go away? While the month may traditionally give equity bulls cold feet, it should probably not be a cause of worry for the bitcoin market.
Read more: www.coindesk.com
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