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#CryptoCorner: XRP Surges as Crypto Climb Continues, Bitmain Announces Release of Next Gen ASICs, Bitfury Concludes $80 Million Funding Round

November 6th #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App @GenesisBlockch

 

Point Roberts, WA and Delta, BC - November 6, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.'s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.

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#CryptoCorner: #XRP Surges as #Crypto Climb Continues, #Bitmain Announces Release of Next Gen ASICs, Bitfury Concludes $80 Million Funding Round

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Crypto Corner

XRP Surges as Crypto Climb Continues, Bitmain Announces Release of Next Gen ASICs, Bitfury Concludes $80 Million Funding Round, Swiss Regulator Advises 800% Risk Weighting on Crypto and Marshall Islands President Faces No Confidence Vote Over Digital Currency Plans

The crypto market has continued its steady climb since Thursday, with total market capitalization up $5 billion USD from yesterday, clocking in at $216 billion USD at press time, according to data from CoinMarketCap. A highlight from the past 24 hours has been the growth of XRP, which is currently trading at $0.52 USD with a market cap of $21 billion USD. XRP briefly overtook Ether (ETH) as the second-largest altcoin. At press time, XRP growth stands at 8.3 percent for the last 24 hours. Bitcoin Cash (BCH) also saw impressive 24-hour growth at 8 percent and is currently trading at $597 USD.

Bitmain, the Beijing-based Bitcoin mining giant, announced via Twitter the release of its next generation of application-specific integrated circuit (ASIC) chip miners.

We are officially announcing the release of our new 7nm miners which possess industry-leading hash rates designed to mine with the SHA256 algorithm. Two models will be offered, the Antminer S15 and T15. Available for purchase on 11/8.

Mining tech firm Bitfury has just closed an $80 million USD private funding round, according to a press release today. The funding was led by venture capital firm Korelya Capital, and also saw participation from Mike Novogratz's Galaxy Digital, Macquarie Capital, Dentsu Inc., Armat Group and others. Bitfury executive vice chairman George Kikvadze commented:

"With a half billion dollars in revenues, Bitfury is the leading blockchain B2B global technology infrastructure provider at the corporate and government level. This private placement will take our corporate governance to the next level, broaden our financial strategic options, and ideally position us for our next phase of growth as the market matures."

Switzerland’s financial watchdog, the Swiss Financial Market Supervisory Authority (FINMA), despite not having taken an official position on crypto regulation, has instructed banks to impose an tough restrictions on the trading of cryptoassets. In a letter, dated October 15, to accountancy organization EXPERTSuisse, FINMA advised financial players that crypto should be "assigned a flat risk weight of 800% to cover market and credit risks, regardless of whether the positions are held in the banking or trading book".

Radio New Zealand News (RNZ) reports that Marshall Islands President Hilda Heine will face a no confidence vote next week as a result of, among other things, plans to introduce a national digital currency. Senators introduced the motion for a no confidence vote yesterday with Senator Casten Nemra saying the establishment of a national digital currency "as legal tender had tainted the country's reputation and generated criticism from major financial organizations, including the International Monetary Fund and the US Treasury Department."

Sam Mowers, Investorideas

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Investorideas.com - 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. https://www.fliptopay.com/

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GBT is a powerful cryptocurrency centralized / decentralized exchange which will include a broad range of services and benefits from cryptocurrency and blockchain markets development, while avoiding complications and risks arising from crytocurrency ownership, transfer, and exchange.You can Download the Genesis Exchange and Wallet App at Google Play and on the Apple App Store. Learn more at http://www.mygenesis.io


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