Cryptocurrencies Market Overview - February 27, 2018

Welcome to my Cryptocurrencies Market Overview for Tuesday, February 27, 2018.

Today in the news:

• Rapper 50 Cent, who bragged about owning Bitcoin is now filing for bankruptcy and declares in court documents he never owned any of the digital currency after all.
• The world’s largest investment company BlackRock said it sees wider use for cryptocurrencies in the future.
• And more crypto news below...

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7 Day Change

Month-to-Date Change

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Latest Crypto News - February 27, 2018

Bull Return? Bitcoin Eyes $11K Following Upside Break

As bullish indicators strengthen, bitcoin now looks set to extend gains to $11,000 or higher, chart analysis indicates.
_{Read more: www.coindesk.com}

Other sources:

• Bitcoin Price Leads $30 Billion Market Rally

50 Cent admits he ‘has never owned, and does not now own’ any bitcoin

Reports last month that rapper 50 Cent had forgotten about $7 million or so in bitcoin he owned have been given the lie by the man himself, who declares in court documents that he “has never owned, and does not now own, a bitcoin account or any bitcoin,” nor did any of his companies.
_{Read more: techcrunch.com}

Other sources:

• 50 Cent Changes Bitcoin Story ... I Swear I Don't Have Any, Judge!!!
• Rapper 50 Cent, Who Bragged About Owning Bitcoin, Now Denies It
• 50 Cent to Feds: You Won't Get a Bitcoin Outta Me; I Have None

LitePay Launches for Merchants, Delays Cards for Now

LitePay was supposed to be a ticket to greatness for Litecoin. But now, it turns out the launch of the service would be only partial, and the unrolling of Litecoin payment cards has been delayed. However, the possibility for a single standard for accepting Litecoin, instead of ad hoc solutions and per-piece wallets, may see the asset spent more widely in 2018, as is the intention of the community.
_{Read more: cryptovest.com}

Other sources:

• Litecoin Price Posts Lonely Decline as LitePay Debit Card Launch Fails

Bitcoin Private Coming Along, but ZClassic is Crashing to Nothing

The Bitcoin Private hard fork is in its final stretch before the snapshot time happening most probably on February 28. But this has spelled a disaster for the ZClassic asset that was supposed to bring an airdrop of new, scarce coins.
_{Read more: cryptovest.com}

Bitcoin developer warns Lightning Network is flawed and vulnerable to DoS attacks

Bitcoin Core developer Peter Todd has taken to Twitter to share his first impressions from playing around with the Lightning testnet and the results are not particularly encouraging, to say the least.
_{Read more: thenextweb.com}

Israeli Supreme Court Prohibits Banks From Restricting Crypto Activity In Landmark Decision

Israel’s Supreme Court has issued a temporary court order prohibiting Leumi Bank from restricting the banking activity of crypto broker Bits of Gold, Finance Magnates reported yesterday, Feb. 26. The Supreme Court’s decision, that has been described as “precedent-setting,” means that banks in general cannot limit accounts associated with the crypto industry.
_{Read more: cointelegraph.com}

Other sources:

• Israeli Supreme Court Forbids Bank From Denying Service to Bitcoin Exchange

Japan's Finance Watchdog Eyeing ICO Regulation, Says Report

Japan's financial regulator is mulling the creation of a regulatory framework for companies raising funds through initial coin offerings, a report indicates.
_{Read more: www.coindesk.com}

Self-Proclaimed ‘Satoshi’ Craig Wright Sued For $5 Billion

Chief scientist of nChain and self-proclaimed mind behind the Satoshi Nakamoto pseudonym, Craig Wright, is being sued for $5 bln. The suit is brought to the United States District Court of the Southern District of Florida by the estate of David Kleiman.
_{Read more: cointelegraph.com}

Other sources:

• Self-proclaimed bitcoin creator sued for allegedly stealing $5 billion worth of crypto, other assets (CNBC)

Chinese Entrepreneur Warns Against Mining and ICO Bans

Angel investor and Founder of Chinese app Meitu, Cai Wensheng, has published criticisms of the central government’s expanding regulatory crackdown on cryptocurrencies via Wechat. Mr. Wensheng warns that heavy-handed regulatory policies may squander the opportunity for China to maintain a significant presence in the burgeoning global cryptocurrency sector, in addition to arguing that many of the challenges faced by cryptocurrencies are indicative of the typical “development process” experienced by emerging monetary forms.
_{Read more: news.bitcoin.com}

Taiwanese Central Bank Sees Future In Blockchain For Payment Systems

Yang Chin-long, the new governor of Taiwan’s central bank, indicated in a speech yesterday, Feb. 26, that the bank would be open to exploring Blockchain technologies.
_{Read more: cointelegraph.com}

Other sources:

• Taiwan's New Central Bank Chief Eyes Blockchain Boost

$5.7 Trln Investment Company BlackRock: Cryptocurrency Will Be ‘Widely Used’ In Future

The world’s largest investment company BlackRock has continued its bullish forecast for cryptocurrency, saying it sees “wider use” in the future in its weekly commentary report released Monday, Feb. 26.
_{Read more: cointelegraph.com}

Rapper 50 Cent... Haha...

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