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#CryptoCorner: Binance Coin Surges Following Fetch.AI Announcement, Coinsquare Lays Off One Third of Staff, Kraken Valued at $4 Billion Following Acquisition and Philippines Announce Regulatory Framework

February 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 - February 6, 2019 (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: Binance Coin Surges Following Fetch.AI Announcement, Coinsquare Lays Off One Third of Staff, Kraken Valued at $4 Billion Following Acquisition

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Crypto Corner

Binance Coin Surges Following Fetch.AI Announcement, Coinsquare Lays Off One Third of Staff, Kraken Valued at $4 Billion Following Acquisition and Philippines Announce Regulatory Framework

The top 100 coins listed by capitalization on CoinMarketCap are almost all in the red today as the crypto market slides further into a downtrend. Total market capitalization is sitting at $111.5 billion USD at press time. Bitcoin (BTC), which accounts for nearly 54 percent of market dominance, is trading for $3410, and is trailed, as usual, by XRP and Ether (ETH), which are trading for $0.29 and $103, respectively.

A light in all of this darkness is Binance Coin (BNB) which has surged almost 14 percent in the last 24 hours. A reason for this could be the recent announcement of the company's Fetch.AI project, which:

"...brings together machine learning, artificial intelligence, multi-agent systems and decentralized ledger technology to create an economic internet — an environment where digital representatives of the economy's moving parts (such as data, hardware, services, people and infrastructure) can get useful work done through effective introductions and predictions."

The Fetch.AI token sale will begin on February 25.

With the bear market persisting, Canadian crypto exchange Coinsquare has had to lay off 40 employees, or a third of their total staff, according to CCN. Coinsquare's head of talent Martin Hauck wrote on LinkedIn:

The ever-evolving digital currency/cryptocurrency space has been volatile and unpredictable. Many similar companies in our industry have had to make some tough choices in recent months and Coinsquare has had to as well. The company has made the decision to part ways with a number of talented members of the Coinsquare team. All of which have made their own impact and contribution to our success so far, for which we are extremely grateful for.

Bitcoin Exchange Guide reports that Kraken has joined Coinbase and Binance as one of the top three crypto exchanges after having achieved a valuation of $4 billion. This comes after Kraken acquired crypto futures broker Crypto Facilities for $100 million.

The Philippines has issued a new regulatory framework for Digital Asset Token Offering (DATO), according to a press release from the Asian Blockchain and Crypto Association (ABACA). Prospective offerings must have proper offering documents with relevant details on the issuer, project, and accompanying advice and certification of experts and digital asset Agents. Additionally, tokens must be listed on the licensed Offshore Virtual Currency Exchange (OVCE) and stakeholders must also have confirmed arrangements with accredited wallet providers and custodians. Sec. Raul Lambino, administrator and CEO of the Cagayan Economic Zone Authority (CEZA), the principal regulatory authority, said:

"It is our goal to provide a clear set of rules and guidelines that will foster innovation yet ensure proper compliance by actors in the ecosystem. It is our hope that these set of regulatory innovations will take the digital asset sector one step closer to adoption and acceptance by institutions and the traditional financial system."

Sam Mowers, Investorideas

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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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