QuadrigaCX Enters Bankruptcy, Famous Streamer PewDiePie Moves To Blockchain Streaming Platform, Most Cryptocurrencies Show Gains And Proposed Mining Ban Could Kill Bitmain — The Crypto2Cash Chronicle
Here’s your daily overview of important, interesting and market moving news from the crypto space, summarized by the Crypto2Cash team. Happy reading!
QuadrigaCX Enters Bankruptcy
A Candadian judge ruled on Monday, that the crypto exchange QuadrigaCX transitions into bankruptcy in the coming days. This comes as no surprise, as the exchange’s court appointed monitor, Ernest and Young, advised the exchange to file for bankruptcy, because it was very unlikely that the exchange re-opened anyhow. Ernest and Young now has “more investigative powers” to try and locate the $190 million in cryptocurrency still missing. The judge also approved, that the assets of the widow of the deceased CEO, are frozen, until proven that no funds of the failed exchange were used for self-enrichment.
Famous Streamer PewDiePie Moves To Blockchain Streaming Platform
PewDiePie, the world’s biggest streamer and Youtuber, has announced he will be partnering up with DLive. DLive is a blockchain based streaming platform that is run on the Lino test network and lets user deposit funds via Paypal, which they can then use to donate to their prefered content creator. Pewdiepie noted high fees on Youtube and Twitch as the main reason for the platform change, with fees being around 30 to 50 percent. DLive’s fees are much lower, with a locked fee of 9.9 percent on every donation.
Most Cryptocurrencies Show Gains
The crypto market sees green again, as most top 20 currencies are up in the last 24 hours. Bitcoin remained stable and is currently trading at $5,250, gaining around 1% on the day. Top performer of the day is EOS, gaining nearly 7% and regaining it’s spot as the 6th largest cryptocurrrency in total market capitalization.
Proposed Mining Ban Could Kill Bitmain
As reported yesterday, China is looking into banning cryptocurrency mining. This would not only be bad news to the world of cryptocurrency, it could also be fatal for mining hardware giant Bitmain. Bitmain is located in China and heavily dependent on the Chinese market, where many miners are located due to the cheap electricity costs. The company only recently started it’s restructuring, closing several foreign operations and focusing more on the domestic market. With it’s IPO also having expired a few weeks ago, the future is looking anything else but promising for Bitmain.
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