Crypto Slaughter Bleeds $8 Billion Wipeout in Minutes; Bitcoin Recovers Swiftly

By CCN.com: The valuation of the crypto market dropped by $8 billion in a matter of minutes after the office of New York Attorney General’s office filed a lawsuit against iFinex, alleging Bitfinex of mismanaging $850 million in Tether funds. Bitcoin fell by 7.5 percent at its day’s low point. Following the filing of the lawsuit by the Attorney General against iFinex, the bitcoin price dropped from $5,500 to $5,085 as many investors panic sold. Bitcoin is down about 5 percent in the past 24 hours (source: coinmarketcap.com) But, the…

Samsung Invests $2.9 Million in Crypto Wallet Manufacturer Ledger

Telecom giant Samsung has invested 2.6 million euros ($2.9 million) into crypto wallet manufacturer Ledger, the French financial publication Capital reports. The investment gives the France-based startup a nearly $290 million valuation, per the report. The news came shortly after CoinDesk Korea reported that Samsung is developing a blockchain platform and native digital asset of its own. The project, which is being conducted by the South Korean tech giant’s blockchain division, is reportedly based on Ethereum’s network and the resulting cryptocurrency is dubbed “Samsung Coin.” CoinDesk Korea cited an anonymous…

Crypto Market Holding Crucial Supports: Bitcoin Cash, XLM, EOS, TRX Price Analysis

The total crypto market cap tumbled sharply, but it stayed above the main $156.0B support. Bitcoin cash price declined sharply, but recovered above $268 and $270. EOS price tested the $4.60 support level and it recently bounced back above $4.70. Stellar (XLM) price is under a lot of pressure and it recently broke the $0.1000 support area. Tron (TRX) traded close to the $0.0225 support level and it is currently correcting higher. The crypto market cap declined heavily, with strong bearish moves in bitcoin (BTC) and altcoins. Ethereum (ETH), BCH,…

Nike to Launch Crypto Called Cryptokicks? Trademark Application Hints Yes

The crypto community has known for a while that Facebook might be issuing its own cryptocurrency. And now, it appears the online behemoth might have a little competition. Reports have surfaced that athletic apparel manufacturer Nike is thinking of doing the same. The Oregon-based company even has a name for its digital currency: cryptokicks. Nike Cryptokicks Coming Soon? On April 19, Nike filed a trademark application for ‘cryptokicks.’ The application said cryptokicks could be used by an online community. The application also describes an electronic marketplace for clothing and footwear.…

Is TD Ameritrade Working to Enter the Crypto Industry?

TD Ameritrade is a financial services company and provides a trading platform through which users can trade stocks, mutual funds, investments, and much more. TD Ameritrade has reportedly around 11 million users. TD Starting Crypto Trading? Rumors are circulating all over the internet that this company is already in testing phases of crypto trading in association with ErisX. ErisX is a Chicago-based company, and according to the rumors, it is developing and testing a beta version of crypto trading on TD Ameritrade’s online trading platform. However, this news is not…

SEC, CFTC Issue Investment Warning on Crypto Scams

Sensing a rise in crypto-related scams and fraudulent investment schemes, the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have issued a joint warning to investors, encouraging them to take a more thorough approach to verifying potential investments in the space. The warning was published on April 24, 2019, by the SEC’s Office of Investor Education and Advocacy and the Office of Customer Education and Outreach at the CFTC. In the notice, the agencies described crypto-related investment scams in which perpetrators — disguised as cryptocurrency…

Samsung Invests $2.9 Million Into Crypto Wallet Startup Ledger

Hardware cryptocurrency wallet manufacturer Ledger has secured 2.6 million euro ($2.9 million) from electronics giant Samsung, a company spokesperson told Cointelegraph on April 24. While the Ledger spokesperson confirmed the investment, no further details beyond the initial investment amount were provided. The news follows the appointment of Pascal Gauthier, the firm’s former president, as its new CEO. Former CEO Eric Larchevêque will now serve as Executive Chairman of the Ledger’s Board. He said in a letter that “in this role I will be able to properly focus on strategy and…

Crypto Market At Risk of Weakness: BNB, Litecoin, Bitcoin Cash, TRX Price Analysis

The total crypto market cap is currently declining and broke the $170.0B support level. Binance coin (BNB) price is rebounding and it is currently up around 4% to $23.20. Litecoin (LTC) price broke the $76.00 and $75.00 support levels to move into a bearish zone. Bitcoin cash price is under a lot of pressure below the $285 support area. Tron (TRX) price is extending losses and it may test the $0.0210 support level. The crypto market cap is currently declining, with bearish moves in bitcoin (BTC) and Ethereum (ETH). BNB…

BlockFi Is Now Paying Interest on $53 Million of Crypto Deposits

Crypto lending startup BlockFi has gathered another $18 million of bitcoin and ether deposits since last month, bringing its total interest-earning accounts to $53 million. The company also lowered its minimum balance to earn interest on bitcoin from 1 BTC to 0.5 BTC and expanded its operations to India, meaning its service is now available globally, except for territories sanctioned by the U.S., U.K. and E.U. “We grew the client base around 50 percent in the first half of April from the end of March,” BlockFi’s CEO Zac Prince told CoinDesk…

New York State Sees First Conviction for Crypto Money Laundering

A case involving millions of dollars in bitcoin and Western Union payments has resulted in New York State’s first conviction for cryptocurrency money laundering. The Manhattan District Attorney’s Office announced Wednesday that defendants Callaway Crain and Mark Sanchez, both 35, laundered $2.8 million earned through sales of controlled substances carried out over the internet. Between 2013 and 2018, the two men sold steroids and other drugs including Viagra across the U.S. via their website “NextDayGear” and on the dark web. They sold over 10,000 packages and accepted payments in cryptocurrency and…