Point Roberts, WA and Delta, BC – May 17, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.’s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today’s edition of the Crypto Corner podcast and commentary on what’s driving the cryptocurrency market.
Listen to today’s Crypto Corner Podcast:
#CryptoCorner: Crypto Market Plummets Following 5K BTC Dump, Amazon Awarded Merkle Tree Patent, Coinbase in Talks to Acquire Xapo
Subscribe to Podcast RSS feed:
Stocks discussed: (NasdaqGS:AMZN)
The crypto market has seen a significant correction as we head into another weekend. Virtually all of the top 100 coins listed by market cap are in the red. Data from CoinMarketCap indicates that Bitcoin (BTC) bottomed out this morning at just under $7100, but CCN puts the figure as low as $6400. Major altcoins such as Ether (ETH), XRP and Bitcoin Cash (BCH) have sustained 24 hour losses around 10 percent.
The sudden drop in the market seems to have been triggered by a 5,000 BTC sell order on Bitstamp. Three Arrows Capital CEO Su Zhu, who spoke to CCN following the $35 million BTC dump, believes the market will recover promptly:
“This is a purely market structure related move, I expect it to be bought up extremely quickly.”
Amazon (NasdaqGS:AMZN) has been awarded a patent by the U.S. Patent and Trademark Office (USPTO) for a project that would allow the company to generate Merkle trees as a proof-of-work solution. Merkle trees are a data structure variation that is adjacent to blockchain technology, and any intentions the company may have with regard to blockchain remains ambiguous.
The Block reports that crypto exchange giant Coinbase is in talks to acquire crypto custody provider Xapo for $50 million. Xapo, which provides cold storage vault custody of bitcoin, is rumoured to have as much as $5.5 billion of assets under custody. An excerpt from the article reads:
The addition of several billion of AUC [assets under custody] would be a huge shot in the arm for Coinbase. Under Xapo’s current business model, customers are not charged for storing their bitcoin. Rather, they generate revenue by enabling over-the-counter (OTC) trades for customers using the bitcoin under custody.
The Economic Times reports that tech lobby groups are pressuring India’s central bank to recognize crypto startups in its regulatory sandbox for fintech. IT industry representative NASSCOM commented:
“Since cryptocoins and tokens are an important component of the blockchain technology, the draft regulations appear to exclude testing of smart contracts and other approved blockchain technology under the sandbox. The decision to keep cryptocurrencies, trading of cryptocurrencies and initial coin offerings out of the purview of the regulatory sandbox is still not clear.”
Sam Mowers, Investorideas
Read other editions of the Crypto Corner
Get the Crypto Corner News by email Get Crypto Corner News
Crypto Corner Sponsors:
Flip™ is the creation of Fit Pay, Inc., a leading provider of cutting edge payment technology and a subsidiary of NXT-ID (NASDAQ: NXTD). By leveraging the FitPay Payment PlatformTM, Flip enables cryptocurrency holders to seamlessly exchange their cryptocurrency for US dollars and store that value on a contactless payment device that can be used to make purchases at millions of retail locations. https://www.fliptopay.com
Genesis Exchange and Wallet App by Genesis Blockchain Technologies (GBT)
GBT is a powerful cryptocurrency centralized / decentralized exchange which will include a broad range of services and benefits from cryptocurrency and blockchain markets development, while avoiding complications and risks arising from crytocurrency ownership, transfer, and exchange.You can Download the Genesis Exchange and Wallet App at Google Play and on the Apple App Store. Learn more at http://www.mygenesis.io
More info on the sector:
Investor Ideas is positioning as a leader in blockchain and crypto content with its Bitcoin and Blockchain portals Bitcoinandblockchainstocks.com, Cryptocurrencyinvestorideas.com and Blockchaininvestorideas.com
For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory
About Investorideas.com – News that Inspires Big Investing Ideas Investorideas.com is a recognized news source publishing third party news and press releases plus we create original financial content. Learn about investing in stocks and sector trends from Investorideas.com with our news alerts , articles , podcasts and videos talking about cannabis, crypto, technology including AI and IoT , mining ,sports biotech, water, renewable energy and more . Investorideas.com original branded content includes the daily Crypto Corner and Podcast, Play by Play sports and stock news column, Investor Ideas #Potcasts #Cannabis News and Stocks on the Move podcast and column, Cleantech and Climate Change Podcast and the AI Eye Podcast and column covering developments in AI.
The Investorideas.com podcasts are also available on iTunes, Spotify, Tunein, Stitcher, Spreaker.com, iHeartRadio and Google Play Music.
Visit the Podcast page at Investorideas.com:
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Disclosure: this newsletter and podcast is sponsored content by featured companies NXt-ID (NASDAQ: NXTD) on behalf of Flip and GBT Technologies. More info: http://www.investorideas.com/About/News/Clientspecifics.asp
Contact management and IR of each company directly regarding specific questions.
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com
Investorideas.com news content is not meant to be a solicitation to buy or sell cryptocurrencies and Investorideas.com does not directly sell cryptocurrencies; but acts as a news and research resource for interested investors following the blockchain sector.
Copyright and ownership: Crypto Corner is an Investorideas.com content brand
Learn more about our news, PR and social media services at Investorideas.com
Follow us on Twitter https://twitter.com/Investorideas
Follow us on Facebook https://www.facebook.com/Investorideas
Follow us on YouTube https://www.youtube.com/c/Investorideas