Cryptocurrencies Market Overview - April 17, 2018

Today in the news:

• The head of the IMF, Christine Lagarde, has said that the growth of bitcoin and other cryptocurrencies could make the global financial system safer.
• One of the largest banks in the U.K., Barclays, is weighing the launch of a cryptocurrency trading desk.
• Ripple wants regulators in the UK to toughen industry rules.
• Coinbase has acquired Earn.com.
• Bitcoin exchange Kraken is closing shop in Japan.
• And more crypto news below...

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Latest Crypto News - April 17, 2018

Support Forming? Why $7.9K Is Bitcoin's New Price to Watch

Bitcoin remains in a bullish territory for now and is looking at further gains, though a pullback is possible if support at $7,900 is breached, according to technical studies.

_{Read more: www.coindesk.com}

More sources about Bitcoin's price:

• Tax Day Bounce? Bitcoin Price Crosses $8,000 as Sell Pressure Fades

IMF’s Lagarde Counters Crypto Warnings With New Praise Of ‘Potential Benefits’

The head of the International Monetary Fund (IMF) Christine Lagarde was buoyant about cryptocurrency in a blog post in support of the technology.
_{Read more: cointelegraph.com}

More sources:

• Bitcoin gets boost from IMF head
• IMF Director Lagarde: Bitcoin could make global financial system safer

Coinbase Acquires Earn.com And Hires CEO As Chief Technology Officer

Cryptocurrency exchange Coinbase has acquired Earn.com, a paid messaging service enabled by Blockchain technology, and appointed the company’s CEO, Balaji Srinivasan, as its first Chief Technology Officer (CTO).
_{Read more: cointelegraph.com}

More sources:

• Coinbase buys Earn.com and makes CEO Balaji Srinivasan its first CTO
• Bitcoin exchange Coinbase buys Earn.com for a reported $100M and adds key executive
• Coinbase Just Bought One of Bitcoin's Best-Funded Startups

Barclays Is Talking to Clients About Opening a Crypto Trading Desk

Barclays, the second-largest bank in the U.K. by assets, is weighing the launch of a cryptocurrency trading desk.
_{Read more: www.coindesk.com}

More sources:

• Barclays now considering to launch its own cryptocurrency exchange
• Barclays Is Sounding Out Clients About Trading Crypto
• Barclay’s Crypto Trading Desk? Bank Reportedly Gauging Clients’ Appetite for One

Report: Less Than 1% of Bitcoin Used for Illegal Purposes

Cryptocurrencies are regularly accused of causing “deaths in a fairly direct way” (as Bill Gates put it). A report released by The Foundation for Defense of Democracies found that less than one percent of Bitcoin is used for illegal purposes.
_{Read more: www.newsbtc.com}

Ripple Calls On UK Regulators To End “Wild West” Of Cryptocurrencies

The world’s third largest cryptocurrency Ripple, has called on UK regulators to follow the lead of Japan and end the “Wild West” days of cryptocurrency markets by implementing new rules.
_{Read more: cointelegraph.com}

More sources:

• End 'Wild West' days of cryptocurrencies, Ripple urges UK regulators

Bitcoin Merchant Adoption Might Just Be Accelerating In Asia

Bitcoin isn't for payments? While that may be the popular narrative of late, don't tell that to Bellatorra Skin Care, a luxury brand that has found the opposite as it's expanded internationally into markets such as China and India.
_{Read more: www.coindesk.com}

Lightning + NFC? The New Plan to Bring Bitcoin to Retail

Imagine a way to expand bitcoin payments to millions per second. Now, imagine a clunky, command-line interface. That's the extent of the divide between the vision enabled by bitcoin's best-yet scaling solution, the lightning network, and the current state of its design. But while that's daunting, developers are moving ahead on designs to make the payment system easier to use
_{Read more: www.coindesk.com}

More sources:

• Near field communication (NFC) could help bring Bitcoin to retail

Crypto Investor Ian Balina Hacked for Millions in Ether During Livestream

Notable cryptocurrency investor and Youtube influencer Ian Balina ended a livestreamed ICO review last night when he realized he was being hacked. Balina seemed to realize something was amiss when he was required to sign back into Google to save changes to the spreadsheet he was using, saying “I have to get going” and ending the stream.
_{Read more: www.ccn.com}

More sources:

• Crypto Investor Reportedly Hacked For $2 Mln On Live Stream, Internet Calls Foul

Crypto Exchange Giant Kraken Quits Japan Citing Rising Costs: Report

US-based cryptocurrency exchange Kraken will reportedly shutter its trading services in Japan due to rising business costs.
_{Read more: www.ccn.com}

More sources:

• Crypto Exchange Kraken To End Services In Japan, Cites Rising Costs Of Business
• Cryptocurrency Exchange Kraken to Shutter Services in Japan
• Cryptocurrency Exchange Kraken Withdraws from Japanese Market
• Crypto Exchange Kraken Pulls the Plug on Japan

No Plans for National Cryptocurrency, Bank of Japan Official Says

Bank of Japan (BoJ), the country's central banking authority, currently has no plans to issue a central bank digital currency (CBDC), citing financial stability concerns.
_{Read more: www.coindesk.com}

Industry Group to Bring 'Order' to Korea's Crypto Exchanges

A South Korean blockchain industry organization has proposed a self-regulatory framework to set standards for the cryptocurrency exchange industry.
_{Read more: www.coindesk.com}

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