Overstock’s tZero Signs Letter of Intent for $160 Mln Security Token Investment

tZERO, a security token exchange and subsidiary of Overstock.com, has signed a letter of intent with investment company GSR Capital for the purchase of $160 million in tZERO Security Tokens, according to a press release published June 29. Beijing-based GSR Capital will reportedly purchase $160 million worth of tZero security tokens at a price of $10.00 per token, pursuant to the Simple Agreement for Future Equity (SAFE). tZERO’s Security Token Offering (STO) has been prolonged until August 6, 2018, in order to accommodate investment from GSR Capital. tZERO has also…

Huobi and JD Cloud Sign Cooperation Agreement to Develop Blockchain and Cloud Computing

JD Cloud, a subsidiary of China’s largest online retailer JD Group, has partnered with digital currency exchange Huobi to explore blockchain technology applications and cloud computing, according to a press release published June 28. According to the press release, the companies have signed a strategic cooperation agreement to jointly explore some key blockchain application scenarios focusing on financial services, Internet of Things (IoT), and supply chain fields. Additionally, the two companies are looking to conduct a study on the underlying technologies of blockchain, including ring signature, homomorphic encryption, Lightning Network,…

Basketball Team Sacramento Kings Mine Ethereum to Fund Tech Education Scholarships

The Sacramento Kings basketball team has teamed up with a crypto mining hardware firm to install mining machines in an indoor arena, with the crypto earnings funding a scholarship program, local news outlet The Sacramento Bee reported yesterday, June 28. The Kings have partnered with company MiningStore for the installation of Ethereum (ETH) mining machines in Sacramento’s Golden 1 Center. All crypto proceeds will go to multi-year scholarship program MiningForGood, which the Sacramento Bee describes as a charity for tech education and workforce development in Sacramento. The first recipient of…

Microsoft Partners With Two Asian Firms on Blockchain Platform for Enterprises

The Taiwanese subsidiary of tech giant Microsoft has partnered with tech investment company China Binary Sale Technology and High Cloud to create a platform for enterprise blockchain development, according to a press release from Microsoft June 28. Microsoft will provide its Azure cloud platform as a base for China Binary’s blockchain service. The three-part partnership reportedly intends to transform various industries such as finance, e-commerce, and entertainment, focusing on the Asia-Pacific region. Taiwan Microsoft’s general manager Sun Jikang expressed his confidence about Microsoft’s ability to improve the security and operation…

Below $0.50: XRP Prices Fall to New 2018 Lows

The price of XRP slid below $0.43 on Friday, hitting a new low for 2018. The world’s third-largest cryptocurrency by market capitalization fell to $0.424 at 13:00 UTC, surpassing the prior low of $0.438 seen just five days ago on the Bitfinex exchange. XRP has not recorded a daily close below $0.42 since December 12th, 2017. As of press time, the figure has risen above the low, back to averaging a price of $0.43 according to the CoinDesk XRP Price Index. Current prices reflect a 24-hour drop of 3.5 percent…

Lighting Labs Co-Founder and Bitcoin Developers Slam Study on Lightning Network

On June 28, news emerged that a study, conducted by Diar, suggested that the Lightning Network, which is being heralded as a potential way for Bitcoin to scale, is not as effective at routing payments than was first believed. The study’s overall claim was that “the reliability of successfully routing a payment on the Lightning Network is still quite low,” especially when it came to larger amounts. However, experts in the know — including Bitcoin core developer Jonas Schnelli and core development contributor, Peter Todd, as well as the co-founder…

Many Coins hit Zero | Less than 4% of Crypto Coins are Successful

Today has not been the best day for cryptocurrencies everywhere. With Bitcoin declining below the critical $6K level, it marks the furthest drop in the coin since November. Declining as much as 4.2 percent on Friday, it is currently trading around the $5,900 mark; this is whopping 59 percent decline from its highs at the beginning of this year. Coins Hit Zero As with many things, where leaders go the rest will follow and the cryptocurrency market seems to be reflective of that adage. For example, today also saw Ethereum and Bitcoin Cash fall…

Crypto Industry Group Blasts Banks for Refusing Accounts to Crypto Businesses

Fifteen “financial institutions” have become the subject of a formal complaint to a Polish government authority by cryptocurrency group the Polish Bitcoin Association (PBS), it confirmed June 27. The PBS, which has not published the full text of its complaint, wrote to the Office of Competition and Consumer Protection (OCCP) June 26, claiming that local banks were deliberately denying service to cryptocurrency entities and selectively closing accounts. “[T]he effects of the banks’ actions described clearly aim at removing virtual currency entities from the market, despite the fact that such activities…

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, TRX: Price Analysis, June 29

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. Back in January of this year, the total market capitalization of all cryptocurrencies reached above $832 billion. At press time, the total market capitalization has plunged to a mere $234 billion, showing the degree of carnage this space has suffered. Such a fall…

Bitcoin Cash Getting Much Weaker

Bitcoin Cash may well head to $640 or $630 soon, as there’s a new bearish trend line at $690. The crypto is trading at $662, having already tested the local low at $645 and then pulled back. The cryptocurrency is under pressure, according to Dmitriy Gurkovskiy, Chief Analyst at RoboForex. This means Bitcoin Cash is unlikely to stay long near $700. In case the sellers remain active, it will soon reach $630. Losses are already high, investors say, which could be clearly seen after BCH went below $665. In theory,…