Share on StockTwits
Join our smart investors - Get the best stock directories in  blockchain, cannabis, crypto, AI, IoT, cleantech. Daily podcasts in cannabis and crpto. Just $99  a year

#CryptoCorner: #Crypto Market Plummets, #Coinrail Exchange Hacked and Former FDIC Chair Urges Fed to Consider CBDC


Point Roberts, WA and Delta, BC - June 11, 2018 ( Newswire), a leader in crypto and blockchain investing news reports on what's driving the cryptocurrency markets with today's edition of Crypto Corner.

Crypto Corner - June 11, 2018

Crypto Market Plummets, Coinrail Exchange Hacked and Former FDIC Chair Urges Fed to Consider CBDC

At press time the cryptocurrency market has plunged about $24 billion USD from $321 billion USD to $297 billion USD in the past 24 hours. According to data from CoinMarketCap, all of the top 50 cryptocurrencies are in the red since yesterday, except for Tether (USDT), which is sitting at +0.15%. A report on CCN cites low trading volume and reduced investor demand as possible contributors to the market decline.

"As the market started to gain some stability and small tokens began to outperform major cryptocurrencies once again, investors became more confident in the short-term trend of the market. But, investors dismissed one key factor; the daily trading volume of BTC was merely half of its volume in late April and early May. The demand from investors had notably declined.

The recent correction of BTC can be largely attributable to the failure of bitcoin to continue its momentum from the $7,500 mark due to its low daily trading volume. The downward price movement was not caused by independent events that have occured this week."

Another possible factor in the price drop is news that South Korean cryptocurrency exchange Coinrail was hacked and possibly lost $40 million USD in crypto. Coinrail's website confirmed the hack and assured users that 70 percent of the exchange's accounted for assets had been moved to a cold wallet for safekeeping.

Sheila Blair, former chair of the US Federal Deposit Insurance Corporation (FDIC) urged the Federal Reserve to consider a central bank digital currency (CBDC) in a recent piece on Yahoo Finance. After conceding the "fragility of modern-day financial systems" and acknowledging that Bitcoin (BTC) itself emerged from the 2007-2008 financial crisis, Blair imagines a CBDC as a means to avoid future crises and better handle monetary policy:

"..what if the Fed or other central bank issued their own digital money? Though it sounds radical, the idea is gaining credibility among an increasing number of mainstream economists and central bankers themselves. Presumably, a central bank-issued digital currency (CBDC) would be as stable as traditional fiat currency, while reducing the risk of financial crises and improving monetary policy tools."

Sam Mowers, Investorideas

Read other editions of the Crypto Corner

Get the Crypto Corner News by email Get Crypto Corner News

Crypto Corner Sponsors: - NXT-ID Inc. (NASDAQ: NXTD) Subsidiary Fit Pay Flip<sup>TM</sup>

Flip™ is the creation of Fit Pay, Inc., a leading provider of cutting edge payment technology and a subsidiary of NXT-ID (NASDAQ: NXTD). By leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders to seamlessly exchange their cryptocurrency for US dollars and store that value on a contactless payment device that can be used to make purchases at millions of retail locations.

Preorder Flip is a leader in Blockchain content with its Bitcoin and Blockchain portals, and

View our growing Bitcoin, Blockchain and Digital Currency Stocks Directory

Join our LinkedIn Group Blockchain and Digital Currency Stocks and ICO's - Latest News and Commentary

Disclaimer/Disclosure: is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: Disclosure: this newsletter is sponsored content by featured companies NXt-ID (NASDAQ: NXTD) on behalf of Flip and GoverMedia Plus Canada Corp. (CSE: MPLS). More info:

Please read privacy policy:

Cryptocurrency Disclaimer news content is not meant to be a solicitation to buy or sell cryptocurrencies and does not directly sell cryptocurrencies; but acts as a news and research resource for interested investors following the blockchain sector.