Elon Musk Is At It Again, Crypto Markets Tumble, Bakkt Acquires Crypto Custodian And Nike Files For “Cryptokicks” — Crypto2Cash Chronicle

The most important and interesting crypto news, coming to you straight from the Crypto2Cash Office.

3 min readApr 30, 2019

Elon Musk Is At It Again

Tesla CEO and crypto’s most famous advocate, Elon Musk, has once again caused a stir by tweeting about Ethereum. While the tweet simply said “Ethereum” and may seem like a joke to some people, it was probably a jab at the Twitter team that suspended his account a few weeks earlier, due to him tweeting about cryptocurrencies. This was due to the fact that Twitter is littered with fake accounts impersonating Musk and trying to steal people’s cryptocurrencies.

Crypto Markets Tumble

After seeing moderate gains yesterday, crypto markets have tumbled again. Bitcoin is only down slightly and currently trading at $5,150, being one of the better performers of the day. All top 20 cryptocurrencies, apart from Ethereum (up 0.17%), are in the red, with Bitcoin Cash losing the most, down almost 5 percent on the day.

Bakkt Acquires Crypto Custodian

Bitcoin futures exchange Bakkt, that has still yet to launch, has acquired the Digital Asset Custody company (DACC). This acquisition was made to secure up to 100 different digital assets in the future, as Bakkt is planning to add cryptocurrencies beyond Bitcoin sometime after launch. They have also been working together with BNY Mellon bank to “set up geographically-distributed key storage” and secured insurance for funds stored in cold wallets. Bakkt is still waiting for approval by the U.S Commodity Futures Trading Commision and it’s launch has been indefinitely delayed.

Nike Files For “Cryptokicks”

U.S clothing and footwear giant Nike may soon be the next mainstream corporation joining the crypto world. Nike recently filed a patent for a “cryptokicks” trademark. The filing did not specify what type of crypto services Nike is planning, but it mentions crypto wallets and “downloadable mobile applications for providing access to crypto collectibles, crypto art and application tokens”. Furthermore it notes an “online marketplace for footwear as possible use case. The filing did not mention when Nike is planning to launch “cryptokicks”.

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