Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA: Price Analysis, June 11

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by the HitBTC exchange. The crypto markets tumbled on Sunday following the news of hacking of a small South Korean exchange, Coinrail, according to top tier media. The reaction to the news seems to be a little exaggerated because the 24-hour volume traded at Coinrail is only…

US Bank Wells Fargo Bans Crypto Purchases With Its Credit Cards

San-Francisco-based bank Wells Fargo has announced that it will no longer allow its customers to purchase cryptocurrency using its credit cards, Fortune reported June 11. Wells Fargo, which is the third largest bank by assets in the US, said that its customers are now prohibited from purchasing digital currency on their credit cards issued by the financial institution. A bank spokesperson said that the decision was made in order to avoid “multiple risks” associated with cryptocurrency usage: “Customers can no longer use their Wells Fargo credit cards to purchase cryptocurrency.…

Bearish Markets See Only Slight Gains – BTC Still Below $7k, ETH Testing $500

Crypto markets are seeing a modest recovery today, June 11, with almost all top ten coins in the green, as data from CoinMarketCap shows. Market visualization from Coin360 Bitcoin (BTC), which dropped below the $7,000 mark June 10, is currently trading at $ 6,760 as of press time. The leading cryptocurrency has seen slight gains of 0.20 percent over the past 24-hour hours, but is down about 13 percent over the past two days. The coin took its sharpest hit early evening on June 10, falling from $7,210 to $6,722…

UK’s FCA | Issues Letter to Banks Over Crypto Risks

The UK’s Financial Conduct Authority (FCA) issued a letter on Monday to bank CEOs over the potential risks that they face when dealing with cryptocurrencies. A Letter from the FCA Criminal activities are synonymous with cryptocurrency use and the letter is said to suggest “good practice” that banks can follow to be vigilant against these activities. According to the FCA, the letter details how firms should handle financial crime that may occur as a result of “cryptoassets,” which the FCA defines as cryptocurrencies or any type of “publicly available electronic medium of…

IOTA and Volkswagen Present Proof of Concept for Autonomous Cars

IOTA and Volkswagen are demonstrating a Proof-of-Concept (PoC) that uses IOTA’s Tangle system for autonomous cars at the Cebit ‘18 Expo in Germany today, June 11th. The PoC enables Volkswagen to use IOTA’s Tangle architecture to transfer software updates “over-the-air” as part of the car manufacturer’s new “Connected Car” systems. Tangle is different than blockchain, in that it does not use “blocks” or mining, but rather is built upon a directed acyclic graph (DAG), a topologically ordered system in which different types of transactions run on different chains in the…

a Talk with Jimmy Wales

This interview has been edited and condensed. ‘Jimmy Wales is good at failure.’ Who would think that? Apparently, Jimmy would, as this is the message he was spreading during his speech at the biggest crypto conference in Europe, BlockShow, calling failure ‘an essential part of innovation.’ But the importance of not giving up is also clear from his speech, as the co-founder of multilingual online encyclopedia shared that Wikipedia was not his first project, but the most successful one so far. Speaking in Berlin, the headliner of the event, announced…

Crypto Exchange Binance to Offer Fiat-Crypto Trading via Malta-Based Platform

Crypto exchange Binance announced plans to allow fiat-crypto trading this year through a separate Malta-based exchange, a Binance representative told Cointelegraph today, June 11.   Binance is currently the second largest cryptocurrency exchange by 24-hour trading volume, seeing about $1.5 bln in trades on the day to press time. While Bloomberg reported today that Binance will “soon allow customers to convert digital tokens into fiat currencies”, a Binance representative clarified to Cointelegraph that “Binance.com is a pure crypto-to-crypto exchange.” They confirmed that crypto-fiat trading will only be offered through a…

Hodlers Caused the Q1 Bitcoin Price Decline: Analytics Firm

Get exclusive fiat and cryptocurrency analysis on Hacked.com for just $39 per month. Click here now! When the bitcoin price declined from nearly $20,000 in Dec. 2017 to below $6,000 during the first quarter of 2018, many observers blamed new investors whose shaky hands had never endured a true bear market. However, new research from blockchain analytics firm Chainalysis suggests that it was long-term investors, hands calloused from years of hodling though they may have been, who triggered the decline and then continued to sell into the dip — to…

Lithuanian Gov’t Releases ICO Guidelines That Aim to Create ‘Certainty and Transparency’

Lithuania has released comprehensive new “guidelines” on Initial Coin Offerings (ICOs) in a document published June 8.  Officials are heralding the move as a “step towards certainty and transparency” in the country. Coming two months after the government set up a roundtable to establish dialogue between banks, ICO operators and other entities, the guidelines see confirmation from Minister of Finance Vilius Šapoka that ICOs “should be regulated.” “Lithuania already has an exceptional regulatory advantage. We are one of the first ones in Europe who prepared comprehensive Guidelines on legal framework…

‘Bloody Sunday’ Not Caused by Coinrail Hack

Get exclusive fiat and cryptocurrency analysis on Hacked.com for just $39 per month. Click here now! When the bitcoin price fell more than $1,000 and the cryptocurrency market cap shed more than $40 billion on “Bloody Sunday,” many media commentators attributed the decline to a security breach at a small cryptocurrency exchange in South Korea. However, Mati Greenspan, senior market analyst at eToro, says that claim is misguided. As CCN reported, the little-known Coinrail became the latest cryptocurrency exchange to fall prey to hackers, who are said to have made…