Headlines 

Bitcoin, Ethereum and other cryptocurrencies are crashing hard, again

Actually, the price of Bitcoin has more than halved since January.Image: Photo by Yu Chun Christopher Wong/S3studio/Getty Images The cryptocurrency market is bleeding for the second consecutive day, with prices of most popular coins down double digits in the last 24 hours.  Bitcoin, the largest cryptocurrency by market cap, is down 12.4% in this period according to CoinMarketCap and is currently trading at $6,426. Other coins are having it even worse: Ethereum is down 20.5%, Ripple is down 13.3%, Bitcoin Cash is down 20.1% and EOS is down 22.3%.  SEE…

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Thailand Leads in Crypto by Skipping the Big Debate

Securities, or not securities. That is the crypto question. Except in Thailand. While regulators around the world have grappled with the issue of what category digital currencies and assets fall into, Thailand has skipped the debate altogether. Instead, using an emergency decree that came into effect earlier this year, authorities wrote an entirely new law. The result is the Securities and Exchange Commission is trying to strike a balance between those who view cryptocurrencies as evil and those who use them for gambling, Archari Suppiroj, director of the commission’s fintech department said at last month’s I’ve argued…

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Odds and Ends 

Robinhood adds zero-fee cryptocurrency trading and tracking

No-commission stock trading app Robinhood will let you buy and sell Bitcoin and Ethereum without any added transaction fees starting in February, compared to Coinbase’s 1.5 to 4 percent fees in the US. And as of today Robinhood will let all users track the price, news, and set up alerts on those and 14 other top crypto coins, including Litecoin and Ripple. “We’re planning to operate this business on a break-even basis and we don’t plan to profit from it for the foreseeable future” says Robinhood co-founder Vlad Tenev. “The…

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Odds and Ends 

Telegram plans multi-billion dollar ICO for chat cryptocurrency

Encrypted messaging startup Telegram plans to launch its own blockchain platform and native cryptocurrency, powering payments on its chat app and beyond. According to multiple sources which have spoken to TechCrunch, the “Telegram Open Network” (TON) will be a new, ‘third generation’ blockchain with superior capabilities, after Bitcoin and, later, Ethereum paved the way. The launch will be funded with an enormous Initial Coin Offering, with forthcoming private pre-sales ranging into the hundreds of millions, potentially making it one of the largest ICOs to date. Demand is driven by the…

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Headlines 

Novogratz Halts Hedge Fund, Says Bitcoin May Drop to $8,000

Michael Novogratz, the former macro manager who’s turned into one of the biggest champions of bitcoin, shelved plans to start a cryptocurrency hedge fund and predicted that the digital money may extend its plunge to $8,000. “We didn’t like market conditions and we wanted to re-evaluate what we’re doing,” Novogratz said Friday in a phone interview. “I look pretty smart pressing the pause button right now.” Novogratz, 53, said he told potential investors last week that he changed his mind, two days before his Galaxy Digital Assets Fund was due to…

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Odds and Ends 

People have spent over $1M buying virtual cats on the Ethereum blockchain

Launched a few days ago, CryptoKitties is essentially like an digital version of Pokemon cards but based on the Ethereum blockchain. And like most viral sensations that catch on in the tech world, it’s blowing up fast. Built by Vancouver and San Francisco-based design studio AxiomZen, the game is the latest fad in the world of cryptocurrency and probably soon tech in general. People are spending a crazy amount of real money on the game. So far about $1.3M has been transacted, with multiple kittens selling for ~50 ETH (around $23,000)…

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Odds and Ends 

Cryptocurrencies have crashed 20% in two days

Of course it’s important to put things into context – this “crash” still leaves Bitcoin at double the price it was just four months ago. But it shows why “investing” in cryptocurrencies isn’t for the faint of heart. Could you imagine waiting on the sidelines for months as the market basically doubled, then putting a sizable chunk of money into cryptocurrency 48 hours ago, only to watch your investment plummet? Not fun. This 20% drop represents years of gains in the U.S stock market – which if invested into cryptocurrency this…

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Odds and Ends 

Coinbase is reimbursing losses caused by the Ethereum flash crash

Earlier this week, GDAX, the digital currency exchange run by Coinbase,experienced a flash crash in its USD Ethereum market. Within seconds the price of ETH crashed from ~$320 to as low as $0.10. While the price recovered quickly, the rapid price movement caused many traders to experience margin calls or stop loss orders, resulting in potentially severe losses. While many initially thought the flash crash was the result of nefarious work, GDAX eventually confirmed that there was no indication of wrongdoing or account takeover. Instead, the flash crash was the…

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Odds and Ends 

How Ethereum became the platform of choice for ICOd digital assets

Jason Rowley is a venture capital and technology reporter for Crunchbase News. More posts by this contributor: Heres how likely your startup is to get acquired at any stage Startups, you must raise this much to join the 1% For most of the history of blockchain-based currencies and assets, the story has been all about Bitcoin. At a market capitalization of around $40 billion, it remains the most valuable cryptocurrency. But with the rise of a new chain on the ahem block, namely Ethereum, and new ways to fund the development of…

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