Bitcoin and its peers extended their slide from the past couple of days Thursday morning. The top cryptocurrency briefly went above the crucial mark of $6,500, but failed to hold on to the gains. Sentiment soured after some negative remarks on Bitcoin from the Ripple CEO and a damaging result of a study surfaced that said the controversial altcoin Tether was used to manipulate the price of Bitcoin in 2017.
Here is a wrap of the main news from the cryptocurrency and blockchain space over the past 24 hours.
Bitcoin Controlled By China, Blockchain Won’t Disrupt Banks: Ripple CEO
Brad Garlinghouse, the chief executive officer of cryptocurrency and payments start-up Ripple, claimed that Bitcoin is really controlled by China, according to financial news outlet TheStreet.com. He also said that blockchain, the underlying technology behind bitcoin and Ripple, will not disrupt banks, though it will play an important role in the way the system works. It’s a short-sighted view, he said.
Crypto Exchange Binance In Channel Islands Jersey
Cryptocurrency exchange Binance plans to expand further after Malta by agreeing to develop a compliance base and open a cryptocurrency exchange in Jersey, which is the biggest of the Channel Islands, between England and France. Digital Jersey is the independent organization that represents & promotes Jersey’s digital industries.
Triwer Sets ICO For Blockchain-based Parcel Delivery System
Norway-based Triwer is set to launch an Initial Coin Offering (ICO) for its TRW tokens issued on the Ethereum platform to provide blockchain-based parcel delivery solution. The TRW token will be an integral facilitator of transactions within the Uber-like parcel delivery platform.
Chief Of German Finance Regulator Calls Blockchain ‘Revolutionary’
Blockchain technology is revolutionary and its applications could turn the entire financial sector upside down, according to Felix Hufeld, chief of German Finance Regulator. During a speech at a recent Berlin event, the president of the German Financial Supervisory Authority or BaFin said that blockchain’s ability to power distributed applications could actually be revolutionary, despite the ongoing hype around bitcoin and initial coin offerings.
Banks’ Blockchain Budget Increased 67% Last Year: Survey
The global financial services industry spent $1.7 billion to develop blockchain technology solutions last year, as banks and other firms move beyond the proof-of-concept stage and start rolling out commercial distributed ledger technology products, according to a new report. The report by U.S.-based market intelligence firm Greenwich Associates signals the growing investments being made by financial institutions on blockchain technology over the past two years.
As of 10.06 am ET on Thursday, Bitcoin was down 0.89 percent at $6,384.99, while Ethereum was modestly up by 0.07 percent at $474.25 on Coinbase.
Read more at: RTT News