#CryptoCorner: Galaxy Digital (TSXV: $GLXY.V) Sells Block.one Shares in Broader Buyback from the Latter, Square (NYSE: $SQ) Close to First Crypto Hire
#CryptoCorner: Fit Pay, Inc. Issues New Video and FAQ for Flip™, Japan’s FSA to Crack Down on Crypto Exchanges, Binance CEO Suing Sequoia Capital China and Coinme Announces Expansion with Coinstar Bitcoin ATMs
#CryptoCorner: Bull Market Returns, JPM Chase (NYSE: $JPM) Adding Privacy Capabilities to Crypto Payment System, Yahoo Japan-Owned Crypto Exchange to Launch May 30
#CryptoCorner: Crypto Comeback Slowed by Dow Drop, Facebook (Nasdaq: $FB) Forms “Libra” in Switzerland, European Central Bank Does Not Regard Crypto as a Threat and ETH-Based Stock Exchange Gears Up for First Listing in June
Just before the weekend we observed a sudden drop in the crypto market, with Bitcoin (BTC) falling as low as $7050 on Friday, and the total crypto market cap sinking to about $220 billion, according to data CoinMarketCap. Over the course of the weekend, however, Bitcoin has made a significant recovery, and is trading for $7770 at press time. Total market capitalization is currently sitting at $241 billion. This crypto recovery peaked yesterday, but has since fallen alongside a drop in the Dow this morning
Reuters reports that Facebook (NasdaqGS:FB) has formed a new blockchain-based fintech company in Switzerland called Libra Networks. The company, which was registered on May 2 in Geneva, will focus on “investing, payments, financing, identity management, analytics, big data, blockchain and other technologies.”
The European Central Bank issued a report on Friday, in which it claims that cryptocurrencies do not represent a threat to the stability of finance in Europe.
Crypto-assets currently do not pose a material risk to financial stability in the euro area. Their combined value is small relative to the financial system. The sector nevertheless requires continuous careful monitoring, as market developments are dynamic and linkages to the wider financial sector may increase to more significant levels in the future.
Ethereum (ETH)-based stock exchange SprinkleXchange expects to list its first company in June, according to a report from Bloomberg. Based in Bahrain, SprinkleXchange uses the Ethereum blockchain for settlement and clearing – the first licensed IPO-platform in the world built on blockchain technology – and targets companies with a market cap of $20 million to $200 million for listing. The company’s CEO, Alexander Wallin, told Bloomberg in a phone interview:
“We have the luxury of being first with this, but we’re aware that it will become a crowded market. It’s like moving from VHS to streaming; Netflix did it nicely and was first, but now there are lots of streaming sites.”