ICO Alert Crypto Minute: January 5, 2018
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Mark Zuckerberg Pledges to Explore Decentralization Technologies for Facebook
Facebook Founder, Mark Zuckerberg, has pledged to study decentralized technologies in order to give more power back to Facebook users. In his January 5, 2018 status update, Zuckerberg highlighted cryptocurrencies as a use case for decentralization. Zuckerberg promised to, “to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services.”
Coinbase Has No Current Plans to Add Other Cryptocurrencies to its Platform
On January 4, 2018, Coinbase announced that it would not be adding any new cryptocurrencies to either its platform or its global digital asset exchange (GDAX). As reported by Coindesk, the announcement follows rumors that Coinbase would add Ripple (XRP) to its platforms.
Ripple Continues to Increase, Reaching Market Cap of USD 140 Billion
Ripple (XRP) reached a market price of more than USD 3.80 on January 4, 2018 — which brings its market capitalization to USD 140 billion. According to the Telegraph, Ripple is currently closing the gap in Bitcoin’s lead in the overall cryptocurrency market.
U.S. SEC Warns Cryptocurrency Investors They May Not Recover Lost Investments from Scams
On January 4, 2018, the U.S. Securities and Exchange Commission (SEC) warned cryptocurrency investors that state and federal regulators may not be able to recover lost investments from illegal actors. As reported by Reuters, the SEC went on to warn investors to “exercise caution” when investing in Bitcoin.
23-Year-Old Investor Purchases USD 450,000 Home in Seattle Using Cryptocurrency Earnings
A 23-year-old cryptocurrency investor used cryptocurrency to buy a house in Tukwila of Seattle, WA — the first publicly reported instance of such a purchase in Seattle. According to the Seattle Times, the buyer bought the three-bedroom home for USD 415,000. However, prior to closing, the cryptocurrency was was converted to USD, which was then used to pay the seller, meet requirements of the lender, and calculate taxes and traditional closing costs.
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