Bitcoin Approaches $7,500, Apple Announces Crypto Kit And The SEC Is Suing Kik For It’s ICO — The Crypto2Cash Chronicle
Today’s most important and market moving news, brought to you by the Crypto2Cash team!
Bitcoin Approaches $7,500
After loosing more than 10 percent yesterday and falling below $8,000, Bitcoin has continued it’s downwards movement overnight. The largest cryptocurrency even temporarily traded below $7,500, but has since then slightly retraced, and is currently trading at $7,794. Most top 20 currencies have been trading sideways, often showing some small losses, with Bitcoin Cash and SV being the exception, both up on the day.
Apple Announces Crypto Kit
The kit was released yesterday on their website and is expected to be fully unveiled today at the World Wide Developers Congress. The Cryptokit will be implemented into the new IOS 13 update and will allow “operations such hashing, key generation, and encryption to be integrated into iOS apps”. It also allows user to “use public key cryptography to create signatures”, meaning that everyone who downloads the update will have an integrated cryptocurrency wallet on their phone. Cryptocurrency fans also noticed that a new Bitcoin Icon is in the code for the new “emojis”, which will also be launched with the new IOS system update.
The SEC Is Suing Kik For It’s ICO
The U.S.Securities and Exchange Commission is suing Canadian based messaging service Kik. Kik allegedly ran an unregistered security offering, when they launched an ICO for their kin token back in 2017. SEC-Co. director Steven Peikin said the following about the case: “By selling $100 million in securities without registering the offers or sales, we allege that Kik deprived investors of information to which they were legally entitled, and prevented investors from making informed investment decisions.” Currently the kin token is trading at only half the price it was initially sold for during the ICO. Kik has started a crowdfunding campaign called “Defend Crypto” and is looking to raise up to $5 million to fight this case.
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