Elon Musk All of a sudden Sends The Worth Of One Dogecoin Rival Sharply Larger And Bitcoin And Crypto ‘Financial institution Run’ Fears In South Korea

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The sale continues 🤑

Cryptocurrency prices started the week with a whimper and continued the downward trend that wiped billions of dollars from the value of the combined crypto market last week.

Bitcoin price has fallen, with Ethereum and Cardano also losing ground. But Tesla … [+] Billionaire Elon Musk has raised the price of Dogecoin rival Shiba Floki.


the Bitcoin The price is now closer to $ 40,000 than it is to $ 50,000, with ether Towards $ 3,000. Among the top ten crypto, kardano and solana lead the market down as upgrade hangover grips ADA and Sol is pulling back until August after its brilliant run.

Memecoin is one of the (very) small tokens shiba floki added nearly 500% (although it’s still at number 3,000 on CoinMarketCap) after number one crypto influencer Elon Musk shared a picture of his new pup last night – a Shiba Inu named Floki.

Inflation clock … The latest US consumer price index (CPI) data, due out tomorrow (Tuesday), will show how much prices have risen over the past month as the dispute between economists and the crypto community continues over whether recent inflation is a cause for concern should. Tomorrow’s data will affect next week’s meeting of Federal Reserve officials to discuss plans to reduce economic incentives.

Crypto in a sport double head: The strange story of a cryptocurrency that players and legends have “pumped” on social media / Crypto and Sports: Married in … well, we’ll see

Koreans are facing a “bank run” situation 🏦🏃‍♀️

Bithumb is one of the largest crypto exchanges in South Korea

© 2018 Bloomberg Finance LP

Altcoin fear: According to media reports, cryptocurrency traders in South Korea are facing a “bank run” situation in which regulation could close many smaller exchanges in the country and potentially wipe out around 42 so-called kimchi coins. Foreign and local exchanges must register as legal trading platforms by September 24th, but many are struggling to meet the requirements.

Threatens: “A situation resembling a bank run is expected shortly before the cut-off date, as investors cannot cash out their holdings of ‘altcoins’ that are only listed on small exchanges,” said Lee Chul-yi, head of Foblgate. a midsize exchange in the country, said the Financial Times. “You will suddenly be poor. I wonder if regulators can handle the side effects.”

Calculate the costs: According to the FT, South Korean cryptocurrency traders expect losses of $ 2.6 billion as the country’s regulator, the Financial Services Commission (FSC), cracks down on two-thirds of South Korean crypto exchanges. Around 40 of South Korea’s estimated 60 crypto operators are expected to close.

Why it matters: South Korea is one of the largest crypto markets in the world and the Korean won is the third most popular currency for bitcoin trading after the dollar and euro, accounting for about 5% of global trade, the FT reported, citing data from Coinhills. The regulations will also affect global exchanges that offer won trading. The FSC has sent a notice to 27 overseas crypto exchanges conducting business for Korean traders. Last month, the world’s largest crypto exchange Binance discontinued its won-to-crypto trading service.

Now read the following: Stablecoins are cracked down as the US debates risk council review

Big if true: Rumors are buzzing that Ukraine could adopt Bitcoin

🙊 Rumors are circulating on social media that following some over-excited media reports, Ukraine could follow El Salvador in adopting Bitcoin as legal tender.

🙉 In a report by the London business newspaper CityAM, entitled “Ukraine Will Be the Next Country to Establish Bitcoin as Legal Tender,” experts argued that the European country is preparing to make Bitcoin the official currency – although there is little evidence to support it there that this is actually in the works. Recall that it was CityAM that was recently reported that online retail giant Amazon AMZN was ready to roll out bitcoin and crypto support – something Amazon later refused to do.

🙈 Last week, the Ukrainian parliament voted in an almost unanimous vote in favor of legalizing and regulating Bitcoin and cryptocurrency, sparking speculation that it could soon step foot first into crypto adoption.

Do not miss: El Salvador is running a bitcoin scam

👍 At least one hedge fund still likes crypto …

💂 London-based hedge fund Brevan Howard is expanding its crypto business, hiring new talent and starting a new crypto-focused division called BH Digital.

🤝 Brevan, which launched a digital assets fund in May and said its flagship fund would also invest in crypto, is known for its macro betting. Brevan Howard has now hired Colleen Sullivan, CEO of CMT Digital, to lead private and high risk investments in crypto.

🙏 “Colleen’s exceptional track record in hugely successful crypto venture investments will be of great benefit to Brevan Howard’s clients and underscores the company’s commitment to rapidly growing its platform and offering of cryptocurrencies and digital assets,” said Brevan CEO Aron Landy in an initial statement reported by Reuters.

Now read the following: Can’t the crypto crowd see the scars of 2017?

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