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Last month, the world was informed that the Gibraltar Blockchain Exchange will roll out its very own initial coin offering (ICO). The ICO offering commenced on February 7 and will close three days from now. Two days after the ICO offering began, Reuters reported that the public should expect in the coming weeks to see a draft law surface from both the Gibraltar government and Gibraltar Financial Services Commission. Reportedly, the draft law will put forth the ICO regulations in the British overseas territory. For those who don’t know, the Gibraltar Blockchain Exchange is a subsidiary of the Gibraltar Stock Exchange, which is an extremely crypto-friendly exchange. According to lawmakers, this is significant news as the draft law marks the first ever set of ICO regulations. The draft law that is thought to surface in the next couple of weeks will help to regulate the sale, promotion, and distribution of digital tokens on the British overseas territory.
It was announced yesterday that BitGrail, the Italian cryptocurrency exchange, lost 17 million of the cryptocurrency NANO (XRB). To date, the hack is worth over $170 million USD. A week ago, RaiBlocks rebranded to Nano and jumped in price nearly 40% in 24 just hours.The rebranding was highly anticipated by most in the project’s community but not all were certain it would be the best move. Non-the-less, it seemed to have been a positive move until now. Nano provides fast, easy and free transactions on its blockchain. These transactions can be done on an app or your desktop computer, making it extremely convenient to use.
Binance, the world’s highest-volume cryptocurrency exchange, denied rumors that it had been hacked after maintenance dragged on long past its originally-posted timeframe, leaving traders unable to access the platform. On Wednesday afternoon, Binance abruptly posted on Twitter that the exchange, which regularly handles several billion dollars worth of volume in a single day — was undergoing system maintenance and that users would likely experience “a temporary decrease” in performance. An hour later, the exchange posted another update, explaining that the maintenance — which involved fully resyncing the company’s replica database — would take longer than originally expected and that it could take “several hours” to get the platform back online.
While the majority cryptocurrencies in the market recorded a 1 to 3 percent decline or increase in price, the value of Bitcoin Cash skyrocketed by 25 percent, leading traders in the cryptocurrency community to suspect a short-term pump. Over the past few weeks, throughout the large correction, cryptocurrencies in the global market moved on a similar trend led by bitcoin and Ethereum. Apart from several rare instances wherein small market cap cryptocurrencies like FunFair increased for a brief period of time, the majority of cryptocurrencies in the market moved up and down simultaneously. However, in the past 24 hours, the price of Bitcoin Cash increased from $995 to $1,250, with volume heavily concentrated on OKEx, the Hong Kong-based cryptocurrency exchanges operated by OKCoin, formerly the largest cryptocurrency exchange in China prior to the country’s cryptocurrency trading ban in September 2017.