#CryptoCorner: #Bitcoin's Market Dominance Rises as #Altcoins Fall, #OKEx Founder Star Xu Not Arrested and No Longer with Police, Bank of #Russia Succeeds in #ICO Experiment and Blockchain Lobbying Group Formed in D.C
September 12th #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App
Point Roberts, WA and Delta, BC - September 12, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news reports on what's driving the cryptocurrency markets with today's edition of Crypto Corner, now available in podcast.
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#CryptoCorner: #Bitcoin's Market Dominance Rises as Altcoins Fall, OKEx Founder Star Xu Not Arrested and No Longer with Police, Bank of #Russia Succeeds in #ICO Experiment and #lockchain Lobbying Group Formed in D.C.
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Bitcoin's Market Dominance Rises as Altcoins Fall, OKEx Founder Star Xu Not Arrested and No Longer with Police, Bank of Russia Succeeds in ICO Experiment and Blockchain Lobbying Group Formed in D.C.
Data from CoinMarketCap tells us that the total market capitalization has continued the slow decline we've been seeing over the past few days following the sudden drop a week ago. At press time the market cap is $188 billion USD, down $3 billion USD since yesterday's Crypto Corner. Bitcoin (BTC), however, is actually up a bit, trading at about $6300 USD with a market dominance of almost 58 percent. Major altcoin Ethereum continues to sag further, trading at $173 USD at press time - its lowest in over a year. For perspective, it was trading as high as $1372 USD during its January 2018 peak.
OKEx founder Star Xu, who was reportedly detained by police in Shanghai yesterday as part of a fraud investigation, is now free after 24 hours, according to CoinDesk. Apparently, Xu was not arrested after all. Chinese business media outlet Caixin reported that Xu was confronted by a group of investors at his hotel in Shanghai who had disputes regarding OKEx holdings, before police became involved to resolve the issue. OKEx responded to an inquiry from CoinDesk saying:
"As far as OKEx is aware, it was Xu who called the police for help when he was surrounded and intimidated by a gang during his visit in Shanghai. The Shanghai police officers arrived the scene and invited all the related parties back to the police station. ... Xu was then invited for questioning while the gang was detained. Then Xu left the police station."
The Bank of Russia successfully conducted an ICO experiment, according to news outlet TASS. The experiment was carried out by state-owned Sberbank and the National Settlement Depository (NSD) using a Bank of Russia framework. Deputy Director of Financial Market Development Ivan Semagin said the experiment was successful on a technical level but there was still legal ambiguities to resolve.
The Washington Post reports that a lobbying group known as the Blockchain Association has been assembled to campaign for crypto and blockchain interests in D.C. The group comprises exchange giants Coinbase and Circle, tech start-up Protocol Labs, and investors, such as Digital Currency Group and Polychain Capital. Coinbase's chief legal and risk officer, Mike Lempres, explained the main aims of the group:
"The Blockchain Association is an effort to get the preeminent companies in the space together so [policymakers] know they're hearing from companies that welcome regulation when it's appropriate. We're not companies looking to game the system, but trying to develop a legal and regulatory system that'll stand the test of time."
Sam Mowers, Investorideas
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