Cryptocurrency News, April 14: Galaxy Digital, Binance, Huobi, Covid-19

Cryptocurrency News, April 14

Cryptocurrency News, April 14: Galaxy Digital, Binance, Huobi, Covid-19

📍 GalaxyCryptobank Galaxy Digital, owned by billionaire Mike Novogratz, recorded a $ 33 million loss in the fourth quarter of 2019. The bank lost $ 16.7 million of this amount due to unsuccessful trading operations, and $ 8.4 – due to failed investments.

📍 Тех The Texas Securities Board issued an emergency order to close Ultra BTC Mining LLC, the mining company, which raised $ 18 million over the year, promising to double that amount in 12 months. The regulator’s press release states that the company raised funds from investors, promising to invest them in mining capacities. According to representatives of a fraudulent company, an increase of $ 10,000 invested would be $ 10,500, $ 50,000 – already $ 52,000.

📍 Hu Huobi Global cryptocurrency exchange can resume work in the US market as early as April 2020. The platform will return to the US market under the name Huobi Group, and the legal entity Huobi US will no longer function. According to Ciara San’s vice president, Huobi Global will work with the US licensed trading platform to fully comply with regulatory requirements.

📍 The Financial Markets Authority of France (AMF) has published explanations of its position regarding cryptocurrencies for the European Commission. The regulator defined cryptocurrencies as “a cryptography-based and distributed-asset digital asset” and emphasizes the need for a clear distinction between financial instruments and “electronic money”. According to AMF, a more accurate classification is too early to introduce.

📍 ИбGibraltar, a country with one of the most friendly legislation regarding cryptocurrencies, has announced the adoption of rules aimed at preventing market manipulation, as well as the implementation of the recommendations of the Anti-Money Laundering Measures Development Group (FATF).

📍 On Monday, the cryptocurrency exchange Binance launched the trading of bitcoin options. Initially, the service will be available in applications for Android and iOS. An option is a financial instrument that gives its owner the right to buy or sell an asset at a certain price in the future.

📍 The spread of coronavirus significantly influenced the nature of media consumption both in the world and in Russia. RBC reports that in the last week of March, traffic increased on cryptocurrency exchanges and Forex (5.56% and 3.13%, respectively), as well as on religious sites (30-500%). At the same time, the number of DDoS attacks on cryptocurrency platforms increased by 486%.

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